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11/18/22
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Five properties traded hands as part of a complex 1031 exchange. An investor sold two Bay Area multifamily communities in San Mateo for $12.85 mil and exchanged into two KinderCare Learning Center properties and a Dollar General store in other states in deals totaling $11.5 mil.
The 1031 exchange began with the sale of the San Mateo County multifamily communities, located at 180 Irene Ct in Belmont and 630 El Camino Real. The investor then traded into three assets in growing Midwestern submarkets. The acquisitions consisted of a KinderCare Learning Center in Waunakee, WI for $4.6 mil, a KinderCare Learning Center in Omaha, NE for $5 mil, and a Dollar General store in Cincinnati, OH for $1.9 mil.
The deal was procured and completed by Adam Levin, Robert Johnston and Cole Simpson with Levin Johnston.
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