Under the agreement, Chicago Deferred became a wholly owned subsidiary of LaSalle Bank N.A., and an affiliate of LaSalle Exchange Corp, effective Feb. 1.Chicago Deferred facilitates approximately 5,000 tax exchange transactions annually through its headquarters in Chicago and San Diego branch office."We exchange all types of assets, from office towers, leasehold interests, mining rights and trademarks, to refineries, distribution networks, pipelines and aircraft," says B. Wycliffe Pattishall Jr., president of the combined entity.
Last year, Chicago Deferred acted as qualified intermediary for assets with fair market values in excess of $7 billion, according to Pattishall.
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