L.A.-based Kay Properties raised and placed $230 million in like-kind exchange equity investments from accredited investors in 2019 seeking to place real estate sale proceeds in 1031 investments.
The $230 million was raised from hundreds of accredited investors and then invested in millions of square feet of commercial and multifamily properties across the U.S. Total market value of properties funded exceeded $3 billion.
The company, a national investment firm specializing in Delaware Statutory Trust (DST) investments and private equity real estate investments, targets 1031 exchange investors seeking so called “like-kind exchanges” allowable under U.S. Internal Revenue Code Section 1031.
According to Kay’s CEO Dwight Kay, “2019 was an incredible year for the 1031 exchange replacement property market. At the same time, individual investors intent on achieving the potential benefits of diversification, through alternative investments such as real estate, are discovering DSTs with appreciation and monthly income potential, as an opportunistic investment strategy.”
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