1031 Exchange Options facilitated the acquisition of a multifamily TIC investment, Polos on Park, in Tallahassee, Fla. The value of the transaction was $31.8 million. Polos on Park comprises 440 apartment units and includes a community clubhouse, a business center, swimming pools, spas, a tennis court, and a fitness center, as well as a lighted basketball court, library and car-care center. 1031 Exchange Options represented 81 percent of the total equity placed by individual investors, many who successfully completed 1031 exchanges with the acquisition of their undivided fractional interest in the property. U.S. Advisor LLC, a diversified real estate enterprise, acquired the property from an affiliate of Western Southern Insurance Co. on behalf of the co-ownership group of TIC investor...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.