Centennial Advisers was able to help a client defer $6-million in capital gains tax with this recent transaction in the city of Cleveland, Texas.
Our Opportunity Zone team helped them take advantage of Opportunity Zone tax benefits. After setting up a qualifying OZ-fund with our in-house attorney they financed their fund with the gains from the sale of their engineering company.
Our agents’ rapport with the listing agent allowed us to beat the competition and close on the property with a short due diligence & closing period.
The Centennial team flew out to the property with the client generating confidence and trust to the sellers that our client would perform. Our client now owns a brand new 2022 construction WhiteWater Express Car Wash in the income tax free state of Texas.
This is a 20 year lease carwash from the 11th largest car wash operator in the country; Located in the fastest growing suburb of Houston on a major T-Intersection of Washington Ave. & Southline St.
Reach out to our opportunity zone experts Sean Baney and Axel Adler for more information, or to find out how we can help you.