Net Lease Grapples With Potential Change Post-Pandemic and Post-Biden
The first panel discussion of the GlobeSt. Net Lease event wasted no time in addressing the elephant (or, more accurately with Democratic control over the legislative and executive branch, the donkey) in the room: The potential elimination of the 1031 exchanges by the Biden administration.
“Right now it’s a lot of noise,” said moderator Jimmy Goodman of The Boulder Group. “Nobody knows what’s going to happen.” But he encouraged everyone in the room to contact their Congressional representatives. “It’s all we can do. Doing nothing will not help.”
Goodman led a panel including Gordon Whiting, managing director of Angelo Gordon; Glen D. Kunofsky, executive managing director of Marcus & Millichap; Mark West, senior managing director of JLL Capital Markets; and Gino Sabatini, managing director, head of investments at W.P. Carey. The discussion was entitled “The State of the Industry: Examining the Implications of a Transformative Year.”