JTC appointed James Landor as senior manager for institutional capital services in its Boston office, the firm said November 2. Landor will lead outreach to 1031 exchange clients across the eastern United States, working with real estate investors, advisors and intermediaries on qualified intermediary services.
JTC operates 40 offices worldwide with more than 2,500 employees and provides services to 8 of the 10 largest global investment banks and 20 percent of FTSE 100 companies. The firm offers fund, corporate, banking, tax compliance and private office services. In North America, the company provides solutions for U.S.-based clients expanding overseas and international clients entering U.S. markets.
Section 1031 of the Internal Revenue Code has allowed property owners to defer taxes on the disposition of business or investment property by exchanging for like-kind property for more than 100 years. A qualified intermediary receives sales proceeds from the relinquished property and holds them until they are used to acquire the replacement property. JTC's Exchange Manager portal offers 24-hour access for exchangers to view real-time status updates.
The firm also works with Delaware Statutory Trusts to help investors exchange into passive investment vehicles that provide access to institutional-quality commercial real estate. JTC's 1031 team handles forward and reverse exchanges, as well as those involving foreign property.
Landor has a background in private banking, wealth management and estate planning. He has worked across multiple offshore jurisdictions, giving him experience with cross-border structures and clients with international interests. Originally from Jersey in the Channel Islands, his work with wealthy individuals from around the world positions him to help those whose personal and business interests extend beyond national boundaries navigate Section 1031 for foreign residents and those who own foreign property.
"With real estate being a key component of any successful investment portfolio, those who hold property in the US and abroad need to be aware of how to use Section 1031," Landor said. "I'm excited to work with JTC's clients to find the right solutions to help secure their financial futures."
