LoopNet Launches 1031 Exchange Center

SAN FRANCISCO-LoopNet launched a new section on its Web site this week dedicated to facilitating tax-deferred investment property exchanges, better known as 1031 Exchanges. The online commercial real estate marketplace is offering the new service in partnership with the subsidiaries of several national title companies.

1031 Exchanges offer real estate investors the opportunity to defer capital gain taxes on the sale of an asset by exchanging the property for a “like-kind” asset held by another investor. LoopNet’s 1031 Exchange Center provides resources, current information and a variety of tools necessary for 1031 transactions.

When a broker adds or edits a for-sale property listing on LoopNet, he or she can request 1031 Exchange information from the participating Qualified Intermediaries. LoopNet’s partners in the effort include Asset Preservation, Inc., a subsidiary of Stewart Title Company and Stewart Information Services Corp.; Investment Property Exchange Services, Inc., a subsidiary of Fidelity National Financial Inc.; and LandAmerica Exchange Company, a subsidiary of LandAmerica Financial Group.