Many multifamily owners are sitting on decades of appreciation, a low, largely depreciated basis and a building that still demands their time and capital. An outright sale triggers capital gains and depreciation recapture. A 1031 exchange defers the tax, but it just kicks the can down the road and leaves them managing another property, on a 45-day identification and 180-day closing clock, with the same single-asset concentration. The 721 Exchange offers another path: exchange the building, dollar for dollar, for operating partnership units in a diversified real estate portfolio, defer the tax, access cashflow, and step away from active management while their equity keeps compounding.

Ari Rubin, Founder and CEO of Flock Homes, will share:

• How the 721 Exchange defers the tax drag that erodes returns on a traditional multifamily sale

• Flock Homes' risk-adjusted return profile, and how it compares to concentrated single-asset ownership

• Why diversified fund exposure changes the calculus for multifamily operators looking to exit

• The mechanics: how contribution value is set, and how distributions, liquidity and estate planning work after the exchange

Who attends:

Multifamily owners, operators and family offices with long-held, highly appreciated assets who are weighing a sale, a recapitalization or a 1031 exchange, along with the investment sales brokers, wealth advisors, CPAs and estate attorneys who advise them. 

Why you should attend:

Most building owners know what it costs to sell. Few have heard of the 721 Exchange. In one hour, attendees will get a side-by-side look at how an outright sale, a 1031 exchange and a 721 Exchange compare on taxes, liquidity, control and long-term returns for a long-held building, and bring their questions directly to Ari.