Education for Attorneys: 1031 DSTs and UPREITs as Tax-Deferred Replacements
This recorded course provides California attorneys with a comprehensive overview of Internal Revenue Code Section 1031 and its application in real estate investment and estate planning.
Designed for legal professionals advising real estate investors and landlords, the program explores the legal framework, history, and practical applications of Delaware Statutory Trusts (DSTs) and Umbrella Partnership Real Estate Investment Trusts (UPREITs) as qualified alternatives to solely-owned, actively-managed properties under IRC Sections 1031 and 721, respectively.
Learning Objectives:
Understand the legal structure of DST ownership, how it qualifies as like-kind property under IRS Section 1031, and how it differs from Tenancy in Common (TIC) arrangements.
Identify key risks of DST investments and how to evaluate sponsor quality, fees, and due diligence considerations
Understand DST exit strategies, including 721 UPREIT conversions, and their impact on future 1031 eligibility and tax deferral
Navigate client scenarios involving estate planning, co-ownership through trusts or LLCs, inherited interests
Course Instructor: Richard Gann, Managing Partner, 1031 Capital Solutions
Legal and financial expert in tax-deferred investment strategies
Extensive experience advising attorneys, CPAs, and investors
Regular speaker on legal and tax planning topics
Host: Jamie Furlong, Managing Partner at Legacy Investments & Real Estate
This recording is not available for MCLE credit, but please reach out for other CE opportunties.
About the Speaker:
Richard (Rick) Gann is a graduate of UCLA and California Western School of Law. He has been a member of the State Bar since 1997. While finishing law school and studying for the bar exam, Rick befriended his then-neighbor, Jason McMurtry. Rick and Jason have worked together, with few interruptions, for over 20 years.
Before transitioning to financial services, Rick practiced law for nine years in the fields of real-estate taxation and estate planning. Rick proudly helped numerous clients manage taxes on their real-estate holdings and investments. Rick’s inspiration for helping property owners came from his grandfather, Paul Gann, author of California’s Proposition 13, which lowered property taxes and sparked a nationwide movement of fiscal conservatism.
In 2006, Rick joined Jason at Grubb & Ellis, fka Triple Net Properties. As an attorney and licensed real-estate broker, Rick developed and supervised a retail division of the company, offering 1031-exchange solutions through a network of commercial brokers across the country.
Later, at Steadfast Companies, Rick helped lead a capital markets team that raised over $1.5 billion from individual investors to acquire over 100 apartment communities across the South and Midwest. Rick also helped create a new 1031-exchange program, designed for individual investors seeking to co-invest in REIT-owned properties.
Subsequently, Rick was President of the Stira Alcentra Global Credit Fund, which merged in May 2019 with the Priority Income Fund. Rick has been an active member of both the Institute for Portfolio Alternatives (IPA) and Alternative & Direct Investment Securities Association (ADISA) since 2007.
Rick and his wife, Amy, live on Bainbridge Island, Washington and have a son in San Diego. Rick is an avid runner, traveler and birdwatcher.
Connect with Rick:
Phone: (800) 445-5908
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