Real Estate Investors Cashing Out?
Now that capital gains taxes have been slashed from 20 percent to 15
percent, some industry professionals are concerned that real estate
investors will increasingly shun 1031 exchange transactions. Indeed, a
growing number of investors are considering cashing out of their properties
and taking the lesser capital gains hit. One such individual who has already
gone this route is Bruce Shapiro, head of Arizona Partners Retail Investment
Group LLC. He remarks, "Now that the capital gains [tax is] so low, we can
pay the tax and take the time to find a much better investment." His firm
made a $1.1 million profit on the recent sale of two land parcels. Analysts
report that private investors older than 60 may be especially interested in
cashing out.
Source: Wall Street Journal
(06/18/03); Muto,
Sheila
Find out what commercial real estate professionals in these companies have been up to!
Colliers Pinkard
First Colony Corporation
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McGuire Properties, Inc/TCN
Trammell Crow Company
Trinity Partners
Vision Brokerage Group, LLC
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