Please view our press release on Morningstar here.
LOS ANGELES, May 27, 2020 (GLOBE NEWSWIRE) — Kay Properties and Investments today announced the completion of another 1031 DST exchange on behalf of an investor located in Southern California. He is an active real estate owner and operator and has owned California real estate for decades. Kay Properties team members have had many discussions with the client over the years helping to educate and familiarize him with 1031 exchanges, DSTs and the Kay Properties process.
The Delaware Statutory Trust 1031 exchange investments were completed by Kay Properties and Investments team members Chay Lapin, Senior Vice President, and Orrin Barrow, Vice President.
Dwight Kay, founder and CEO of Kay Properties, stated, “Due to our volume of 1031 exchange business, we have had the ability to see a wide array of 1031 exchange transactions from investors throughout the country. This was another example of a real estate investor choosing to work with Kay Properties and the www.kpi1031.com marketplace due to our specialization in 1031 exchange and DST properties. The client appreciated our team approach, in-house counsel, due diligence and analysis team, transaction coordinator team and above all else that we are not just a financial advisor doing one or two exchanges per year — which places the investor in serious risk akin to a general practice doctor trying to perform open heart surgery. Rather, we specialize in 1031 and DST transactions having completed thousands of them over the years and with Kay Properties having been acknowledged many times by industry participants as one of, if not the, largest DST 1031 exchange providers by volume in the country.”
Chay Lapin, Senior Vice President of Kay Properties, stated, “As a national firm, we daily work with many investors wanting to grow their knowledge about the 1031 exchange as well as the options that are available to them. This investor initially approached us wanting to learn about the process of a 1031 exchange and what his options were. We spent years developing a relationship and reviewing solutions about his proposed selections as well as the potential benefits and potential risks of investing in real estate and DST 1031 properties.”
Lapin continued, “We strive to provide the highest level of premium service to all of our Kay Properties clients. We have a very comprehensive due diligence platform that reviews every DST on the www.kpi1031.com marketplace. We also have a dedicated team of analysts who daily review new DST offerings and DST sponsors. This particular client benefited greatly from not only understanding the DST marketplace but also the various ways he could potentially complete his exchange.”
Orrin Barrow, Vice President of Kay Properties, added, “This client had identified DSTs as a potential back-up strategy for his 1031 exchange. He spent years getting familiarized with the DST investment world and the way in which it could be used quickly and effectively as a back-up for a 1031 exchange. The client re-engaged Kay Properties as he neared his 45-day deadline for identifying properties. During the Covid-19 pandemic, it has been very hard for many institutions along with high-net-worth investors to obtain financing. The client was pleased not only with the speed in which we were able to facilitate but also that we had such a diverse* option of 1031 exchange solutions for him to consider.”
*Diversification does not guarantee profits or protect against losses.