Pasadena’s ExchangeRight Becomes Nation’s Second Largest Sponsor of Securitized 1031-Exchangeable Real Estate Investments

Published : Friday, August 16, 2019 | 5:07 AM

ExchangeRight's Managing Members David Fisher, CPA, Joshua Ungerecht, and Warren Thomas, CPA (top row, left to right) with Chief Financial Officer Dave Van Steenis, CPA, CFA, Chief Operating Officer Susana Dryden, and Controller Kevin Steines, CPA (bottom row left to right).

Pasadena-based ExchangeRight has emerged as the nation’s second-largest sponsor of securitized 1031-exchangeable real estate investments, according to a report from Mountain Dell Consulting.

The company reported it has acquired more than $340 million of assets on behalf of investors for the year-to-date period ending July 31, and now stewards over $2.1 billion in total assets under management together with its affiliates.

“We are thrilled by this milestone,” Warren Thomas, Managing Member at ExchangeRight, said. “Just over seven years ago, ExchangeRight brought out its very first offering, and now we stand in second place in our industry. We continue to grow at an impressive pace. Our 2018 sales grew 35.1 percent year-over-year, and our production for 2019 is on pace to grow at a similar rate.”

ExchangeRight, whose offices are at 1055 E. Colorado Blvd. Suite 310 in Pasadena, syndicates aggregated offerings for 1031 and cash investors, consisting of long-term, net-leased properties. Its portfolio encompasses more than 600 properties totaling in excess of 14 million square feet in 38 states.

A 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows real estate investors to defer costly capital gains and recapture taxes by reinvesting in like-kind real estate.

Utilized properly, 1031 exchanges provide investors with substantial tax deferral that allow them to shelter the growth of their wealth and keep more of their money working for them.

To learn more about ExchangeRight and the company’s services, visit www.exchangeright.com.

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