LOS ANGELES, April 14, 2020 /PRNewswire/ — A husband and wife who have built their net worth using multifamily properties have accessed the Kay Properties 1031 DST marketplace at www.kpi1031.com to complete a tax deferred 1031 exchange into multiple DST 1031 properties.
The Delaware Statutory Trust 1031 exchange investments were completed by Kay Properties and Investments team members Chay Lapin, Senior Vice President, and Steve Haskell, Vice President.
Dwight Kay, the founder and CEO of Kay Properties, stated, “We are honored to have helped another family complete their 1031 exchange into DST investments. Again, the clients chose the Kay Properties team and the www.kpi1031.com marketplace for expertise and access to over 25 different DST sponsors and between 20-40 DST 1031 offerings.”
Kay continued, “These clients were from the Pacific Northwest and they decided after extensive research that the Kay team and kpi1031.com marketplace best suited their needs as they were searching for a 1031 exchange solution. We are thankful to the clients as well as the five DST sponsor companies that we worked closely with on this transaction.”
Chay Lapin, Senior Vice President of Kay Properties, stated, “Throughout the years at Kay Properties, we have had the opportunity to work with clients all over the country. In this particular exchange, our clients had multiple apartment buildings that would be staggered closings. In speaking with our investors, they wanted to make sure that they had all their 1031 Exchange DST 1031 options chosen prior to closing on the sale of their apartment buildings.
“We had the chance to utilize our team expertise and sponsor relationships to successfully line up all the various DST offerings prior to the various buildings they were selling closed in an effort to reduce potential closing risk.
“It was important to our investors to have properties ready to invest so they did not miss too much potential rental income. They would be purchasing over $32,000,000 of DST properties and missing a few weeks of cash flow on this value would be a significant number and impact. With the help of our entire Kay Properties team, we were able to close into their DSTs within a few days and start to earn their potential income immediately.”*
Steve Haskell, Vice President at Kay Properties, stated, “At Kay Properties, we invest a great deal of resources into educating our clients in each step leading up to their exchange. In this case, our clients were a husband and wife with extensive experience as real estate professionals specializing in multifamily apartments and they appreciated the opportunity to meet our due diligence analysts, underwriters, in-house counsel team, contract coordinators and asset managers. Ultimately the clients decided that a diversified portfolio of 10 unique DST 1031 investments with five different DST sponsor companies made much more sense than purchasing just one property on their own.”*