Sale of Checker’s Drive-In For Oregon-based real estate developer Michael Pearson, it was the perfect storm. For nine years, he’d owned an investment property in Augusta, GA—a Checker’s Drive-in restaurant with about $415,000 of 1031-exchange deferred taxes on it. The tenant, Star Chain, was a longtime 27-unit Checkers franchisee that had recently declared bankruptcy because
John Eckburg, Domino’s Pizza franchisee, was considering what to do with his North Augusta, SC location. It wasn’t performing as well as it had in the past, and he wondered if he needed to move it. It was straddling two different markets, and it wasn’t clear which way to go. The shopping center it was
Dr. Ahmadie owned a 31-unit apartment complex in North Augusta, named Cedar Pines Apartments. The property had been losing money and was requiring the owner to send the management company additional funds regularly. The property was older, and had many maintennace issues--HVAC, roofs, and septic systems being just a few of them. To make matters
