Commercial real estate owners and investors are increasingly taking advantage of the 1031 exchange program to sell properties and re-invest into other traditional classes that are currently at depressed prices due to the coronavirus.
According to Bisnow, the rise in activity comes as many real estate investors expect President Biden to introduce his proposed tax reform that includes increasing capital gains and dividends on income above $1 million and repeal step-up in basis. Currently, the federal long-term capital gains tax rate is 20 percent.
TowerPoint has been working with an increasing number of cell site owners who are trading their wireless real estate assets to take advantage of the 1031 exchange program and also raise their cash reserves. With our experienced team, TowerPoint is also able to facilitate the tax-deferred exchange for site owners ensuring a seamless transaction.
- Sell while prices are at historical highs
- Take advantage of current tax rates
- Invest in other classes
- Raise cash reserves
This is an opportune time for cell site landlords to consider selling their wireless real estate assets while values of towers and leases are relatively strong.
