Edmund & Wheeler Exchanges

This is a classic "build-to-suit" transaction. Our client sold a commercial property and directed the proceeds of the sale by virtue of an Exchange Agreement to us as Qualified Intermediary. We created a single purpose entity to conduct the business, in this case a NH corporation. We then purchased, in the name of the new corporation, a piece of raw land (which had been subdivided and permitted) using the exchange proceeds.

The client delivered specific instructions for the type of building to be constructed on the site and directed who the contractor would be to perform the work. We made a series of progress payments based on the work in place and the "ok" to pay by the client.

Once all of the sale proceeds of the Relinquished Property were exhausted, the new property was deeded to the client and the corporation was closed and tax return filed on its behalf. The entire process was concluded within 180 days.


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REAL-LIFE EXAMPLES OF OUR EXCHANGES CASE STUDY 3 This example illustrate a Build-to-Suit Exchange
COMMERCIAL PROPERTY FOR RAW LAND WITH IMPROVEMENTS
This is a classic "build-to-suit" transaction. Our client sold a commercial property and directed the proceeds of the sale by virtue of an Exchange Agreement to us as Qualified Intermediary. We created a single purpose entity to conduct the business, in this case a NH corporation. We then purchased, in the name of the new corporation, a piece of raw land (which had been subdivided and permitted) using the exchange proceeds. The client delivered specific instructions for the type of building to be constructed on the site and directed who the contractor would be to perform the work. We made a series of progress payments based on the work in place and the "ok" to pay by the client. Once all of the sale proceeds of the Relinquished Property were exhausted, the new property was deeded to the client and the corporation was closed and tax return filed on its behalf. The entire process was concluded within 180 days.
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Edmund & Wheeler, Inc. QI 567 Cottage Street Littleton, NH 03561 603.444.0020 603.444.6611 Fax exchange@section1031.com
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Edmund & Wheeler, Inc. headquartered in Littleton, New Hampshire (NH) is a Section 1031 Qualified Intermediary with over 27 years of experience. Edmund & Wheeler has completed thousands of successful exchanges in 47 states. George E. Foss III is the firm's principal bringing with him decades of experience in finance, tax issues, banking, real estate and most importantly is a proven expert in all things Section 1031. This site contains real-life examples of successful exchanges, industry insight, detailed case studies of exchanges, Section 1031 news and other related materials. Real-life examples of Section 1031 Exchanges.
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