Search
 

1031 Exchange Options Experiences Triple-Digit Growth

LAFAYETTE, CA-The Lafayette-based purveyor of tenancy-in-common transactions is expecting its exponential growth during the first half of 2003 to continue, with projected year-end results in excess of 250 completed transactions and real estate value approaching $500 million.

By Brian K. Miller | Updated on July 22, 2003

LAFAYETTE, CA-1031 Exchange Options this week is reporting exponential growth through the first half of 2003. The Lafayette, CA-based brokerage says it completed over 120 transactions representing in excess of $300 million in real estate — which equates to a 106% growth rate when compared to the last half of 2002 and a 483% growth rate when compared to the first half of 2002.

“We blew the doors off our expectations,” CEO Jim Noack tells GlobeSt.com “When we went from 100% growth to 200% growth, we thought it couldn’t last, then it went to 300% and 400%.”1031 Exchange Options specializes in tenancy-in-common transactions, wherein smaller investors who not only want to complete a 1031 exchange but also want more of a hands-free investment can pool with other smaller investors and purchase a larger property, such as a regional mall or a class A office building. Since the IRS last year issued formal guidelines for such transactions and backed it up recently with its first private letter ruling, investors have been flooding into companies experienced in conducting tenant-in-common transactions.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.