COLLEGEVILLE, PA — 1031 CORP. said it has acquired certain business assets of 1031 Exchange Specialists, Inc., expanding its presence into Southern New Jersey and strengthening its position in regional real estate markets.
The acquisition, effective April 7, allows the Collegeville-based company to integrate operations and client relationships from the Ocean City, New Jersey firm.
1031 CORP. facilitates 1031 tax-deferred exchanges, which allow real estate investors to defer capital gains taxes by reinvesting proceeds into similar properties.
The company said clients of 1031 Exchange Specialists will gain access to expanded resources, technology, and a broader team of exchange professionals.
George Christofely, president of 1031 Exchange Specialists, said the transition is expected to provide added value to clients.
“We are confident this transition will provide tremendous value to our clients,” Christofely said.
1031 CORP. said it uses segregated, interest-bearing exchange accounts that are fully FDIC insured and allows clients to view account activity through bank platforms.
The company also offers Qualified Escrow Accounts and bank-issued statements as part of its exchange services.
The Ocean City office will remain open, and existing transactions will continue to be handled by the current team at 1031 Exchange Specialists.
After completing open exchanges, the firm’s owners plan to retire, the company said.
New exchange transactions will be managed by 1031 CORP.’s exchange team, including Certified Exchange Specialists.
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