Landmark Selling 20 Billboard Leases With Perpetual Easements

Put your 1031 proceeds into an income-producing billboard lease and easement. Landmark Dividend, the nation’s leading ground lease and easement real estate investment firm, is selling 20 NNN, non-cancellable leases that all have perpetual billboard easements with 2.5% annual escalators. The company owns the 20 properties and title is 100% free and clear of all liens. The transaction qualifies as a tax-deferred, 1031 exchange.  There is no competition since Landmark owns the properties and no 45-day ID period necessary.  Landmark can close in 30 days. Insider talked with Kale Speaker, Landmark VP Acquisitions about the sale.

Kale, what is Landmark selling?

We are selling 20 NNN, non-cancellable leases that all have perpetual billboard easements with 2.5% annual escalators. We own the 20 properties and title is 100% free and clear of all liens.

Why does Landmark wish to sell these particular assets?

We are starting a new program called 1031 Direct in which we are selling properties to individuals seeking a replacement property on their 1031.  Many of our investors have asked us for this over the years.

 

Explain how the leases are qualified for a 1031 tax deferred exchange and what this means to a buyer?

Ground leases qualify under IRC Code Section 1031 for exchange transactions. Since the properties are all perpetual easements they are ideal for this investor base. This means that the buyer can sell his current property and defer the capital gains taxes under the 1031 rules.

What should a prospective buyer do if they wish to learn more?

Call Kale Speaker at 213-814-4759 or email kspeaker@landmarkdividend.com

 


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