2A — February 2025 — M id A tlantic Real Estate Journal
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M id A tlantic Real Estate Journal
M id A tlantic R eal E state J ournal Publisher, Conference Producer ..............Linda Christman VP, Conference Producer .............................Lea Christman Editor/Graphic Artist ......................................Karen Vachon Contributing Columnists ................Carl Mazzanti, eMazzanti Technologies; Dwight Kay, Kay Properties & Investments; Joseph Latina, SIOR and Christopher Moore, CCIM, LMT Commercial Realty/CORFAC Int’l.; Stephen Arrivello, PACE Equity LLC Mid Atlantic R eal E state J ournal ~ Published Monthly Periodicals postage paid at Hingham, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal 117 HMS Halsted Dr., Hingham, MA 02043 USPS #22-358 | Vol. 37, Issue 2 Subscription rates: 1 year $99.00, 2 years $148.50, 3 years $247.50 & $4.00 single issue - plus postage REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Phone: 781-740-2900 www.marej.com
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Dwight Kay
How to Use DSTs and 1031 Exchanges for Diversification This hypothetical case study shows how an investor used Delaware statu- tory trusts (DSTs) to build a diversified 1031 DST portfolio and avoid a $2 million tax bill. tors use Delaware statutory trusts (DSTs) to complete their 1031 exchanges. How- ever, we recently worked with a client who discovered how DSTs can be incredibly valu- able when it comes to building a diversified portfolio. What are DSTs? For those readers who are not familiar with DSTs: They are a legal real estate owner- ship structure that allows multiple investors to each hold an undivided beneficial interest in the trust. The term “beneficial interest” means that investors hold a percent- age of the ownership, and no single owner can claim exclu- sive ownership over any spe- cific aspect of the real estate. K ay Properties & In- vestments has helped thousands of inves-
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This graphic illustrates the potential for Delaware statutory trusts to help 1031 exchange investors cre- ate diversification across asset classes, geographic regions and tenant mixes. It is important to note that diversification does not guarantee profits or protect against losses. Graphic courtesy of Kay Properties & Investments.
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The DST sponsor company is responsible for handling all of the maintenance, distributions and other active management responsibilities. DSTs are par- ticularly relevant to investors because the IRS has blessed them to qualify as “like-kind” investment property for the purposes of a 1031 exchange. Enter Southern California
real estate investor Tom So now, let me introduce you to Tom, a seasoned real estate investor who grew tired of ac- tive property management and the headaches of increasing rent-control regulations. For several decades, Tom built a portfolio of multifamily apart- ment buildings in Southern continued on page 22A
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