Colliers arranged a five-property apartment portfolio sale for longtime client Rio Properties, closing separate transactions valued at approximately $30 million in total. The assets are situated across the Venice, Oakland, Los Angeles and Marina Del Rey markets.
The client sought a tax-efficient retirement strategy. The result was an exchange of three properties into tax-sheltered multifamily funds and the transition of two properties into REITs, taking full advantage of their respective tax benefits.
This approach squared with the client’s desire to retire without incurring substantial tax liabilities and brought about additional benefits. By opting for multifamily contribution funds and REITs, the client minimized tax obligations and eliminated the hassles associated with property management.
“These transactions exemplify Colliers’ commitment to providing strategic solutions that go beyond conventional approaches,” said senior EVP Kitty Wallace.
