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Brokers Say Use of 1031 Exchanges Has Surged During Pandemic

August 3, 2020Media Mention
Los Angeles Business Journal

Greenberg Glusker partner, Michael Wiener, spoke with the Los Angeles Business Journal offering his insights on how the pandemic has affected the use of 1031 exchanges in the article, "Brokers Say Use of 1031 Exchanges Has Surged During Pandemic," published on August 3, 2020.

Excerpt:

Michael Wiener, a tax partner at Greenberg Glusker Fields Claman & Machtinger, said 1031 exchanges and other deals are challenging since “financing is more difficult in
the current climate, and certain asset classes are less desirable across the board.

“That’s led to a disconnect between buyers and sellers on what these properties are worth, and then add on top of that pressure of the 1031 to get it done in 180 days or in a lot of cases by July 15. You have the normal pressures and the tax pressures,” he said.

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