Colliers successfully facilitated the sale of a five-property apartment portfolio for Rio Properties, valued at approximately $30 million. The properties are located in Venice, Oakland, Los Angeles and Marina Del Rey.
The client’s goal was to implement a tax-efficient retirement strategy. As a result, three properties were exchanged into tax-sheltered multifamily funds while two properties were transitioned into REITs to take advantage of their respective tax benefits.
This approach aligned with the client’s desire to retire without facing significant tax liabilities and also provided additional benefits. By choosing multifamily contribution funds and REITs, the client was able to minimize taxes and eliminate property management hassles.
According to senior EVP Kitty Wallace: “These transactions showcase Colliers’ dedication towards providing strategic solutions that go beyond traditional methods.”
