Servidyne sells Georgia investment

Aims to defer capital gains tax by reinvesting proceeds
Published on Dec 18, 2007

Servidyne Inc., a building performance expert services and real estate company, recently announced the sale of a large office complex in Marietta, Ga. The company sold Johnson Square Office Park to an unidentified buyer for $10.3 million. The property comprises 121,476 square feet and is located at 1501 Johnson Ferry Road. According to a press statement, the sale generated a $2.085 million pre-tax gain on sale. The company intends to re-deploy the net cash proceeds from the sale of approximately $3.4 million by acquiring one or more income-producing properties, and thereby defer the income taxes otherwise payable on the gain. ...

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