The 1031 Exchange allows Roberts to defer paying federal and state corporate capital gain taxes.
Roberts plans to build a 220-unit multifamily complex; 39,000 sf of office; 47,000 sf of retail; and 80 rental townhomes. The company's prepared statement didn't disclose an estimated hard construction cost of the four projects. But area construction industry estimators tell GlobeSt.com that based on current market labor and material costs, the aggregate hard cost will be at least $53 million.
In January, Roberts sold the Rosewood to Rosewood Plantation Apartments Inc. for $97,368 per unit, according to its 8K form filed with the Securities and Exchange Commission.
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