Ocean Cadillac Inc. turned to MJ Ridenour and Robert Wainland to put together a complex, three-piece 1031 exchange deal.
Under the 1031 vehicle, investors can defer taxes if they sell a property and quickly reinvest the gain in a similar income-producing asset. When Ocean Cadillac scored $20 million for its Bay Harbor Islands dealership June 1, Ridenour and Wainland, two senior advisers with Coldwell Banker Commercial NRT, instantly began looking for places to park the company’s cash.
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