1031 Exchange Options Announces 2003 First-Half Results; Company Exceeds All Targets, Continues Exponential Growth.Business Editors LAFAYETTE, Calif.--(BUSINESS WIRE)--July 21, 2003 1031 Exchange Options, a leading resource for investors looking to utilize a 1031 exchange to convert investment property holdings into a "Tenancy-in-Common" (TIC) real estate investment, today announced first-half results for fiscal 2003 and confirmed it has exceeded its growth plans announced earlier this year. For the first half, ending June 30, 2003, 1031 Exchange Options successfully completed over 120 transactions representing in excess of 300 million dollars in real estate. These figures represent 483% growth in a six-month period year-over-year and 106% growth over the previous six-months. 1031 Exchange Options continues to lead the nation in 1031 exchanges that utilize tenants-in-common for replacement investment property. The company's year-over-year growth is indicative of the explosive demand experienced in the industry, as investment property owners become aware of the opportunities to own investment property without the burdens of day-to-day property management. "These first six months of robust growth are evidence we have executed to a sound business plan," said Cary Losson, founder and president of 1031 Exchange Options. "Given our transaction volume, the associated equity and the caliber of properties to which we have access, we are clearly the leader in the fastest growing market for investment property." Highlights In May of this year, 1031 Exchange Options announced the completion of the largest TIC structured transaction in history. Working with investors involved in 1031 exchanges, the company joined with PASSCO PASSCO Professional Associates and Software Systems Consultants PASSCO Pakistan Agricultural Storage & Supplies Corporation Real Estate Enterprises, Inc. to acquire the Puente Hills Mall Puente Hills Mall, located in Industry, California, United States, is a major regional shopping center in the San Gabriel Valley region of Los Angeles County. The mall was built in 1974 after the completion of the Pomona Freeway a few years earlier. , a 1.187 million-square-foot regional shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into valued at $146 million. Financing for the Puente Hills Mall transaction included the largest loan amount, at $90 million, and the largest equity component, at $56 million, to date for a TIC structured investment. 1031 Exchange Options' Cary Losson served as the primary consultant on this milestone transaction, spearheading 10 transactions representing 15 percent of the total raised equity. In response to explosive client demand, 1031 Exchange Options additionally announced the expansion of its management team and named Jim Noack as the company's chief executive officer. Under Mr. Noack's direction, the company will continue to build the foundation that will facilitate this rapid growth and further expand the company's national presence. "We firmly believe the secret to our success lies in our commitment to our customers. The level of service we provide is our calling card," said Jim Noack, chief executive officer, 1031 Exchange Options. "It is our unwavering focus on this aspect of our business that makes us the partner of choice for our clients, their advisors and our associates." 1031 Exchange Options is expecting its growth to continue at the current pace, with projected annual results in excess of 250 completed transactions and real estate value approaching $500 million. In response to this growth, the company is continuing its search for additional qualified Replacement Property Specialists across the country. About 1031 Exchange Options Through its expertise in institutional real estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the , analysis and comparison, 1031 Exchange Options provides complete 1031 exchange process management from beginning to end. The company's highly talented team of industry experts focuses on providing the most knowledgeable, professional and ethical investment real estate guidance. 1031 Exchange Options sets the industry standard for performance, professionalism and integrity. The company's relationships with the leading providers of institutional-grade, real estate investment opportunities offers clients of 1031 Exchange Options exclusive, preferential pref·er·en·tial adj. 1. Of, relating to, or giving advantage or preference: preferential treatment. 2. access to quality real estate investments. 1031 Exchange Options is headquartered in Lafayette, California Lafayette is a city in Contra Costa County, California, United States. As of the 2000 census, the city's population was 23,908. It is named (in 1857) after the Marquis de Lafayette, a French military hero of the American Revolutionary War. . The company has additional branches in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. , the Pacific Northwest, Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and Michigan. Additional information is available at www.1031tic.com. Securities offered through Sigma SIGMA - A scientific visual programming environment from NASA. http://fi-www.arc.nasa.gov/fia/projects/sigma/. Financial Corporation, member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). .SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . |
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