As part of the “Tax Cuts and Jobs Act” enacted in late December 2017, the definition of eligible property for Section 1031 exchanges was changed dramatically. After many decades of allowing exchanges of personal (i.e., non-real) property, Section 1031 treatment is now restricted only to real property exchanges.
The continuing strong real estate market in the Greater Boston area and throughout New England has given investors substantial equity in their properties subjecting them to higher capital gains taxes on the sale of such properties. Consequently, more investors, both U.S. and foreign, are using 1031 tax-deferred exchanges in order to defer paying capital gains taxes.
Cranston, RI On behalf of First Bank and Trust Co. of Illinois, CBRE completed the sale of 2700 Plainfield Pike, to Equity Industrial Partners for $6.937 million. Equity Industrial Partners plans to update the 234,600 s/f
Boston, MA Premier Capital Partners LLC has purchased five apartment buildings for $32.45 million. The properties consist of 58 short-term/licensed lodging-house units which Premier purchased in August 2018, and
Devens, MA Newmark Knight Frank (NKF) has completed a 247,060 s/f lease renewal and expansion to Nypro, Inc. at 112 Barnum Rd. NKF executive managing directors J.R. McDonald and Torin Taylor, along with
Burlington, MA The two largest tenants at The District Burlington have signed 259,000 s/f in long-term lease extensions at the development, a sign that the recent upgrades and investment made to this mixed-use property are paying dividends for large companies looking to attract top talent.
Willimantic, CT Two retail locations have new tenants at 1548 West Main St., according to Ron Lyman, CCIM, CEO of Lyman Real Estate. Fine Fettle Dispensary (FFD) for medical marijuana leased 3,500 s/f and The Next Street driving school took a 1,350 s/f.
Archaeologists in ancient Rome found mosaic signs with the latin warning “cave canem” – “beware the dog.” Animals have been used forever as spokespersons to get attention and quickly convey unmistakable messages.
New Haven, CT According to Sean Cahill, principal and managing director of Avison Young’s Fairfield/Westchester office, the company completed the sale of 1423 Chapel St. Principal Sean McDonnell and senior associate Christopher Grundy led the Avison Young team
Amesbury, MA Cornerstone Realty Capital arranged $5.7 million in financing for the acquisition of the Briggs Mill apartment complex. Briggs Mill, which was converted in 2014 from a former mill building, contains 44 apartments, comprised of 18 studio units, 14 one-bedroom, one-bathroom units and 12 two-bedroom, one-bathroom units.
