Also known as a 1031 Tax Exchange, this process enables a property seller to shift funds from the sold property to a new investment and defer the obligation to pay capital gains taxes. This process is extremely bene?cial when an owner wishes to build net worth and either consolidate or diversify their holdings.
Qualified Opportunity Funds (QOF), a tax incentive created under the Tax Reform Act of 2017, is the newest mechanism under the federal tax code to defer capital gains tax. Real estate investors can now choose between a 1031 like-kind exchange and a QOF when seeking to defer the tax on their capital gains.
Waltham, MA Erie Construction of Toledo, Ohio has signed a new lease for 2,250 s/f at 230 Second Ave. Michael Jaffe, vice president at Eastport Real Estate Services, represented the owner, Eastport 230, LLC in the lease transaction and Davie Gilkie of NAI Hunneman represented the tenant.
Needham, MA Over 250 people braved the cold for the 3rd annual Cannabis Summit by The New England Real Estate Journal at the Sheraton Needham on March 7th.
Boston, MA Jones Lang LaSalle Inc. (JLL) and HFF, Inc. have entered into a definitive agreement under which JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of $2 billion. The transaction has been unanimously approved by the boards of directors of both companies.
Essex, CT MS Investments, LLC has purchased 147 Westbrook Rd. The 9,000 s/f multi-tenant medical building, anchored by Middlesex Hospital Primary Care, was sold as an investment property for $2.075 million.
Woburn, MA Calare Properties (Calare) has acquired an industrial flex portfolio in the Rte. 128 North industrial market. The asset, which is comprised of two buildings totaling 53,600 s/f, is located nine miles northwest of Boston at 64 Industrial Pkwy. and 1 Adele Rd.
Hartford, CT On April 11th, the Construction Institute of Hartford will present the annual Visionaries Forum, an exploration of cutting-edge issues among a diverse group of thought leaders in the architectural, engineering, construction and facilities operations (A/E/C/O) industries.
Boston, MA Marcum LLP merged CPA firm Guyder Hurley, P.C. of Braintree, into its city office as of March 1st. The Guyder Hurley team adds 17 associates, including one partner and one managing director, to Marcum’s New England region.
Check out the New England Real Estate Journal's Spring Preview Spotlight
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