Tumultuous Exchange Tests 1031 Exchange InvestorsDecember 23, 2022 – Media Mention
Corporate & Tax Partner Michael Wiener was featured in RE Business Online's Midwest Multifamily & Affordable Housing Business magazine's cover story "Tumultuous Exchange Tests 1031 Exchange Investors." While rising interest rates and high asset prices present challenges for apartment buyers, diminishing inventory is putting them under the gun to make deals.
"Investors who are in the middle of an exchange have been the hardest hit by the higher interest rates and turmoil in the market. It's harder to find a replacement property that can be reasonably acquired. Because of that, we've had a couple of situations where investors have decided to pay the tax rather than invest in an unattractive deal."