Gould Investors Enters Into a Contract to Sell a Property
GOULD INVESTORS L P (GDVTZ)
Company Research
Source: GlobeNewswire
GREAT NECK, N.Y., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Gould Investors L.P. (OTC PINK:GDVTZ), announced that it entered into a contract to sell a property it owned for many years to a non-affiliated entity for a sales price of approximately $101 million. It is anticipated that the transaction will be completed no later than April 2027 provided the buyer and seller execute per the contract terms. The Company estimates that the sale, if completed, will generate a net accounting capital gain of approximately $86 million. It is anticipated that the net proceeds from the sale will be used to purchase other properties and that such purchases will be structured so that the Company can avail itself of the tax-deferral provisions afforded by Section 1031 of the Internal Revenue Code. The purchaser has deposited approximately 6% of the purchase price with a title company. No assurance can be given that this transaction will be completed but if the purchaser defaults under this contract, it will
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