(1888PressRelease)
July 10, 2007 - ALPHARETTA, Georgia — SeedAmerica, the leading 501(c)3 organization in the utilization of the 561 Exchange for the transfer of underused commercial real estate, announced that it is making ‘steady progress’ toward their $100 million goal in endowment funding for their future business college. SeedAmerica intends to use the funds to build a state-of-the-art business college to train business leaders and entrepreneurs. Additionally, as part of this plan, the company has relocated its headquarters from Perrysburg, OH to Atlanta, GA.
SeedAmerica is a national real estate endowment fund that focuses on acquiring and managing commercial real estate assets. As the move of American manufacturing overseas continues cause more industrial buildings to close across the Nation, SeedAmerica is providing a welcomed solution to the question of what to do with these empty spaces.
The 561 Exchange program, taken from Publication 561, is an IRS sanctioned transaction that allows property owners the opportunity donated property, in exchange for a cash benefit in the form of tax savings, for the owner, usually exceeding the cash benefit of selling the property at list price.
Joe Johnson, SeedAmerica’s founder and CEO, said, "The market's demand for the 561 Exchange and employing the assistance of an organization that understands it better than any other, has led to our expanded staff of professionals. We concluded that the relocation was a sensible and prudent path to ensure continued growth."
SeedAmerica’s staff now consists of a full inside sales team and regional acquisition managers, an expert staff of real estate research specialists, valuations and financial professionals. SeedAmerica offers a unique business model in that they commit to carry acquired properties for a minimum of 3 years, protecting the seller from risk of reduction of their cash benefit. SeedAmerica ‘s 561 compliance and appraisal review quality assurance set them apart from other 501(c)3 organizations that receive donated property only to turn them around in a quick sell for profit. SeedAmerica’s 561 Exchange partners consistently praise them for their expertise, ease of transaction and higher appraised values than waiting for a conventional sale to take place.
Chris Zimmerman, SeedAmerica’s President of their Real Estate division, stated, "SeedAmerica is in a unique position because it has a proven process on a government sanctioned program, at a time when many business leaders are seeking solutions to the swelling carrying costs of maintaining underused and empty commercial property. When you couple this with the fact that SeedAmerica, as an organization, is focused on offering a solution to the problem of underused properties, providing economic development potential to communities and soon, educational resources to business leaders, the benefits become quite compelling for everyone."
Commenting on the relocation and expanded staff, Johnson said, "I am extremely excited about our future partnerships and the opportunity that lies ahead for SeedAmerica. The company not only has the right service, at the right time, for the replacement market, but it also has the right service offering for the growing small to medium business market place and community, nationwide. We are looking forward to working with the SeedAmerica management team to build a truly great company."
About SeedAmerica
SeedAmerica is a 501(c)3, 561 compliant non-profit organization specializing in the acquisition and transfer of underutilized real estate, while maximizing tax and income benefits for corporations.
For more information about SeedAmerica, visit www.seedamerica.com
