Long Term Leases Secured Through 1031 Exchange
Seller: Family trust, primarily owned by an elderly individual, with ownership of a CVS in CT. The motivation for selling the property was to establish long term leases for stability within the trust.
Transaction: Working with one of our trusted buyers that owns a large portfolio of net lease properties across the country, SIP secured the sale at asking price. Every aspect of the transaction was coordinated with the family trust attorney to ensure any future investments were protected under the NY trust laws and accounting practices.
The sale occurred extremely quickly, closing in less than 60 days. After selling the CVS, SIP also assisted the family trust in purchasing a long term net lease property as their 1031 exchange replacement.