Florida Apartment Buildings for 1031 Exchange

Tampa Bay, Florida – Tampa Bay 1031 Exchange ideas have been suggested for the topic this weekend. Apartments and Net Lease Properties are superior choices for a 1031 Exchange. The Delayed 1031 Exchange is the probably the most common type of 1031 exchange. A Delayed 1031 Exchange occurs when there is a slight time gap between the transfer of the relinquished Commercial Property and the purchase of the 1031 Exchange Replacement Property.

The 1031 Exchange investor must remember that the Delayed 1031 Exchange is subject to strict time limits. As far as for tax purposes, a qualifying 1031 exchange is seen as one continuous property holding. The primary advantage of the 1031 Exchange, is that there is no tax paid on profits while disposing of one property and purchasing a replacement commercial property.

We have Commercial Real Estate news on a Florida Apartment complex selling. This Commercial Real Estate sale is not known to be a 1031 Exchange however this commercial property can be a suitor for a 1031 exchange. The commercial real estate transaction was with Cielo at Bradenton Apartments. This 1031 Exchange suitor was sold for $12,000,000. The buyer of this Florida Apartment Complex was Aspen Square Management, Inc. who is based in West Springfield, Massachusetts.

The Property Buyer, Aspen Square Management has been providing premier apartment rentals for their Tenants for over 50 years. The Florida Commercial Property investor believes that their Tenants deserve the highest level of customer service and offer an on-site staff at every Aspen Square Management property. Unlike many commercial real estate management companies, Aspen Square owns the investment properties that it manages.

This 1031 Exchange candidate is situated at 6904 Manatee Avenue West in Bradenton, Florida. This property is nearby the Cheap Car Insurance Quotes company which dishes out affordable car insurance quotes. This 1031 Exchange suitor is approximately 43 miles south of the Tampa International Airport at 4424 N West Shore Boulevard in Tampa Bay. The 1031 Exchange candidate is in very good condition and there is an outstanding outlook for this Florida rental area. This Florida 1031 Exchange suitor was built in the year of 1974 and had adequate renovations completed in 2006 and 2007.

This Commercial Property was marketed as a 299-unit, lender-owned apartment community. This 1031 Exchange suitor was purchased in an all-cash deal by Aspen Square Management. This commercial real estate transaction closed very quickly as there were various 1031 Exchange Investors interested in the property. The purchase price breaks down to approximately $40,133 per unit for the 1031 Exchange suitor. The 1031 Exchange candidate, Cielo Apartments, was approximately 91% occupied at the time of closing.

This 1031 Exchange candidate, Cielo at Bradenton Apartments, offers unique living spaces which feature separate living and dining area. This Florida Apartment Complex is about 306,357-square-feet and the Units have spacious closets including pantry and linen closets, outside storage, and screened-in patios and balconies. The Florida Apartment complex has amenities that include two relaxing swimming pools, a fitness center, and picnic areas for Tenants to take a break. There is also Sand volleyball and a dog park currently available for Tenants. The 1031 Exchange candidate is conveniently positioned near the premier retail shopping, fine dining, and beautiful Florida beaches.

Do you need 1031 Exchange Properties?

CONTACT US:
O’Reilly Commercial Realty LLC
Patrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com

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