Rita and her husband acquired multiple lots of vineyard agricultural farmland over the past 30 years. As Napa Valley grew in wine importance, so did the value of her land. However, she and her husband were busy with their careers and never developed the land but still endured large annual expenses in taxes, maintenance, and water costs. The clients were seeking to turn negative cash flow vineyard agricultural land into positive cash flowing investments. They spent many months looking for suitable property but found limited opportunities and overstated economics.
We provided an industrial DST investment where the tenant was the largest pharmaceutical manufacturer in the United States and the property would ultimately be contributed into a REIT via the 721 UpREIT exchange. Rita and her husband now have positive monthly cash flow distributions and will have the option to liquidate REIT shares should they choose to do so in the future.
1031 Vineyard Exchange
A 1031 Exchange can provide a tax savings opportunity for vineyard owners. Sellers of vineyards can benefit from tax deferral under Internal Revenue Code Section 1031.
For more information on Vineyard 1031 Exchanges, contact 1031 DST Solution presented by Corcapa 1031 Advisors (949) 722-1031 for detailed information of how you can benefit from a 1031 Exchange.
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