1031 Exchange | 3 Property Portfolio
Vancouver Market Center: 5000 NE 4th Plain Blvd & 2600 N General Anderson Ave, Vancouver, WA
Commerce Business Center Buildings A & C: 2590 & 2600 Willamette Dr NE, Lacey, WA
Action Business Furniture Building: 3802 S Cedar Street, Tacoma, WA
Total Transaction Value: $25,165,815
The Buyers, the principals of Country Manor MHC LLC and Greenwood MHC LLC, asked Douglas K. Smith, JD, CCIM of NAI Puget Sound Properties to represent them with regard to completing two IRC Section 1031 tax deferred exchanges. The Buyers had accepted unsolicited offers to sell two properties in two separate transactions for a total of $17.5 million dollars and wanted to exchange and leverage up to about $25 million in new acquisitions. The Buyers’ goal was to acquire multiple properties that would offer them upside potential, ease of management, geographic diversification and diversity of product types.