For the third consecutive year, the IRS has issued guidance that extends relief to taxpayers subject to the "10-year rule" for required minimum distributions (RMDs) from inherited IRAs and other defined contribution plans.
Since it was first rolled out in 2022, the SECURE 2.0 Act has made a substantial impact to retirement saving – from the standpoint of a retirement saver, as well as an employer. Additional updates were rolled out in 2023, and 2024 is no exception. Some of the new provisions taking effect this year are adjustments to employer-sponsored roth plans, emergency withdraws, IRA catch-up contributions etc.
DOUGLAS CAPITAL PARTNERS EXPANDS PORTFOLIO ACQUIRING THREE COLUMBUS AREA PROPERTIES
$25.0 million acquisitions mark first investments outside of Michigan
SOUTHFIELD MI, March 12, 2024 – Michigan based, Douglas Capital Partners, a value-add real estate investment firm founded in 2014, announces the acquisition of three Columbus area properties from American National Insurance Company and Brookfield. The $25.0 million portfolio is collectively 385,000 square feet, and is comprised of SouthPark XX, a Class A industrial property located at 3555 Gantz Rd in Grove City, and two high quality office buildings located in Dublin; the Emeral Professional Building at 5747 Perimeter Drive and Upper Metro Place located at 5200 Upper Metro Place South.
The properties acquired are strategically located in key neighborhoods within the Columbus metropolitan area. This calculated move underscores Douglas Capital Partners' commitment to identifying and investing in properties with strong growth potential and significant value.
SouthPark XX is located in the bustling industrial hub of Grove City. This property offers institutional quality industrial space in a highly desirable market that has limited opportunities for new development. Boasting modern attributes and a strategic location, SouthPark XX provides a cornerstone for businesses seeking to optimize their operations and maximize efficiency.
Upper Metro Place is nestled in the heart of the vibrant Metro Center business district of Dublin and sets the standard for sophisticated workspace solutions. With its contemporary design and premium location, it provides an ideal environment for businesses to thrive and innovate as well as the benefit of being part of Dublin’s Metro Center Revitalization, which is planned to include a diverse, walkable mix of offices along with unique places to live, work and enjoy. Positioned for success in one of Ohio's most prestigious commercial districts, this property offers unparalleled opportunities for growth and professional excellence.
The Emerald Professional Building, is situated in the center of Dublin's corporate corridor. This premium office building exemplifies sophistication and prestige in a distinguished setting for businesses to elevate their operations and establish a commanding presence in the market.
"We are thrilled to announce the expansion of our portfolio with the acquisition of these three exceptional properties in the Columbus area," said Glenn Pavey, Founder and Principal of Douglas Capital Partners. "These investments mark an exciting milestone for our firm as we extend our footprint beyond Michigan for the first time. We are confident that these acquisitions will not only enhance the value of our portfolio but also allow Douglas Capital Partners to contribute positively to the vibrant communities of Columbus."
"We see tremendous potential in the Columbus real estate market, and these acquisitions represent the beginning of our expansion efforts in the region," stated Ben Israel, Principal of Douglas Capital Partners. "We look forward to leveraging our expertise and resources to unlock value in these properties and deliver strong returns for our investors."
With a proven track record of success and expertise in real estate investment and dedication to strategic and responsible investment practices, Douglas Capital Partners is well-positioned to maximize the value of these acquisitions and drive long-term growth. The firm expects this portfolio to kick off further investment throughout Columbus and is currently working on other opportunities. A select few Michigan properties owned by the company include Stephenson Technology Park, Haggerty Manufacturing Center, Forum Flats (Summer 2024) and Southfield Crossing II.
For more information about Douglas Capital Partners and its investment strategies, please visit www.douglascapital.com.
IMAGES: Courtesy of Douglas Capital Partners
###
About Douglas Capital Partners
Douglas Capital Partners is a premier real estate investment firm dedicated to identifying, acquiring, and improving commercial real estate assets. With a proven track record of success, Douglas Capital Partners specializes in strategic acquisitions, asset management, and value creation through innovative investment strategies. The firm's commitment to excellence, integrity, and responsible stewardship of capital ensures that investors achieve superior returns while contributing positively to the communities in which it operates. For more information, visit www.douglascapital.com.
The qualified business income (QBI) deduction is available for eligible individuals through 2025. After that it's scheduled to expire, unless Congress passes legislation to extend it. With 2024 underway, it's time to use-or-lose the lucrative write-off.
Read Brittany Lawrence's article to learn what you need to know to cash in on the QBI deduction.
The qualified business income (QBI) deduction is available for eligible individuals through 2025. After that it's scheduled to expire, unless Congress passes legislation to extend it. With 2024 underway, it's time to use-or-lose the lucrative write-off.
Read Brittany Lawrence's article to learn what you need to know to cash in on the QBI deduction.
When done right, a mission statement can serve as a powerful, foundational element for any organization-especially in the world of not-for-profits. It should inspire your team, serve as a guiding light and can even touch the hearts of donors.
The current expected credit loss (CECL) model, introduced by FASB in ASU 2016-13, aims to simplify US GAAP and recognize credit losses more promptly. It addresses the limitations of the previous model by requiring immediate recognition of estimated expected credit losses based on historical data and current economic conditions. Not-for-profits, specifically, will appreciate that the CECL model excludes contributions (pledges) receivable.
As of January 1, 2024, the IRS is enforcing a new threshold for filing information returns.
Jeffrey Mosher welcomes Reggie Stephens, TSA Federal Security Director for Michigan to the MBN studio. This conversation preceded a press event held by TSA at Capital Region International Airport to provide tips for holiday travelers.
About a half hour later, Jeffrey Mosher was among four media outlets that welcomed Reggie Stephens, TSA Federal Security Director for Michigan. This press event was held by TSA at Capital Region International Airport to provide tips for holiday travelers, Tuesday morning, December 19, 2023.
Jeffrey Mosher welcomes Reggie Stephens, TSA Federal Security Director for Michigan to the MBN studio. This conversation preceded a press event held by TSA at Capital Region International Airport to provide tips for holiday travelers.
About a half hour later, Jeffrey Mosher was among four media outlets that welcomed Reggie Stephens, TSA Federal Security Director for Michigan. This press event was held by TSA at Capital Region International Airport to provide tips for holiday travelers, Tuesday morning, December 19, 2023.
