Chicago, IL (June 17th, 2022) – Quantum Real Estate Advisors, Inc. has completed a $46,000,000 1031 exchange for a repeat client. The acquisitions were exclusively CVS and Walgreens which were subject to long-term leases. The properties ranged in price from $5,000,000 to almost $12,000,000 and were spread across five states (Indiana, Ohio, Illinois, Massachusetts, and New York). The sellers were of varying backgrounds, including private owners, institutional owners, and developers. The exchange was 100% cash with no financing in place and all transactions closed over the last 3-4 months.
Mr. Waszak had the following comments regarding the transaction, “whenever we are engaged with a client in a 1031 exchange, we first seek to understand the situations and our clients’ long-term goals. In this case, it was critical for our client to place the entire amount of the exchange, as there was virtually no tax basis. Additionally, he did not want to take on any new debt or contribute additional cash to the acquisitions. Therefore, matching up to the near-perfect dollar amount of the exchange while also finding high-quality, net-leased assets was the task at hand.” Mr. Waszak continued, “I am proud of the team at Quantum in their diligent work at organizing, tracking down, and analyzing both on-market and off-market deals. Our analysis not only looked at the purchase price but was also able to accurately forecast transaction/acquisition costs to paint a clear picture of how the entire transaction would play out. By consulting with the buyer’s attorneys and tax advisors, we were able to seamlessly execute on this exchange.”
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.