1031 Exchange Options Announces Acquisition of Texas Multifamily Property by Tenancy-in-Common Investors.WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. -- Cary Losson, Founder and President of 1031 Exchange Options, today announced on behalf of its clients, the successful acquisition of a multifamily property in Texas: Mission Collin Creek. 1031 Exchange Options, a national real estate investment consultancy, represented individual Tenancy-in-Common (TIC) investors in the property, many who successfully completed 1031 exchanges with the acquisition of their undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal. 2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until fractional interest in the property. Mission Collin Creek located in the central portion of Plano, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S. , a northern suburb of Dallas, was acquired for $17.75 million, net of reserves. The multifamily community contains a total of 266,724-square-feet and includes a fitness center, spa, lighted tennis court, two swimming pools, a wading pool, and a playground. The property is currently 95% occupied. "This is a prime example of the types of properties we recommend to our clients," said Christian Mirner, Executive Vice President -- Real Estate for 1031 Exchange Options. "It's located in Plano, home to more than 6000 businesses, and offers superior access to the Dallas-Fort Worth Metroplex A metroplex is large metropolitan area containing several cities and their suburbs.[1] It is also sometimes used as an alternative to metropolis or megalopolis, which is a chain of continuous metropolitan areas. on a variety of transportation corridors. Multifamily construction has slowed in the Plano submarket, with fewer than 350 units completed in 2004. So positive fundamentals are in place: high barriers to entry, population growth, job formation, and location advantages." Mission Collin Creek is the fourth property in as many months acquired by Mission Residential on behalf of 1031 Exchange Options client investors. Mission Residential, a multi-faceted multifamily real estate acquisition and management company with locations in Texas and Virginia, focuses on multifamily properties in carefully selected Sunbelt states. Mission Residential, in partnership with Triple Net Properties, a diversified real estate enterprise, acquired Mission Collin Creek from an entity of Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. on behalf of the co-ownership group of TIC investors. About 1031 Exchange Options 1031 Exchange Options is a national real estate investment consultancy representing clients in investments structured for co-ownership. We advise clients on 1031 exchanges, Tenancy-in-Common (TIC) ownership, triple net leased properties, funds, LLCs, REITs, and other alternative real estate investments. 1031 Exchange Options offers securities through Sigma Financial Corporation, Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and 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. . 1031 Exchange Options' national headquarters is located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . The company services clients nationwide. Additional information is available at www.1031ExchangeOptions.com. While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described. |
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