Donating commercial real estate to charity
John, a successful real estate investor and property manager from New Jersey, was nearing retirement age. As such, his large portfolio of commercial holdings was getting much too much to manage. At the same time, John unable to sell the properties for a price that satisfied him.
After getting the properties appraised, John realized that he might do just as well with a donation, but with a lot less hassle: if he donated the properties, he’d completely avoid the headache of having to sell them. The tax savings, moreover, would help to offset the capital gains income made from selling the other properties.
John decided to trust Kars4Kids with a portion of the package. From our side, we worked to facilitate a smooth, quick transfer. That was no small thing, considering that taking on these properties also meant taking over the management of all the tenants occupying all of the various units. But we were, of course, up to the task!
Here was a case where donation proved to be a wonderful solution for all involved.