“Pain Point”
A multi-generational family office wanted to sell raw land that it had owned for 100+ years. With zero basis, the family would have incurred a significant tax liability in selling the land outright. Mack & Co. was engaged to structure and execute a 1031 exchange to mitigate the tax impact and generate funds for reinvestment.
“Solution”
Formulating an execution strategy for the family’s 1031 exchange, Mack & Co. identified suitable exchange properties, structured and negotiated the transaction, and sourced financing. We closed on the financing and provided tax deferred proceeds which were then successfully reinvested opportunistically by the family.
Impact
Mack & Co. advised the family on executing a 1031 exchange. We also developed a refinancing strategy which provided the family with proceeds to reinvest and reallocate to other asset classes.