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September 8, 2010 |
History of Company |
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Over twenty five years ago on September 24, 1979, Downstream Exchange Company was formed to serve as an Accommodator in a 1031 exchange for the first time. The president of the company, C. Anthony Phillips, formed a corporation to assist a tax client of Phillips & Company, the CPA firm of which Tony is a partner, in a delayed 1031 exchange. Accommodator companies were virtually unknown, and there were very few guidelines on how to be in compliance with Internal Revenue Section 1031.
Because it had been expected that the corporation would be used only once, it was given a whimsical name of Downstream Land and Cattle Company. Much to our surprise, professionals in the real estate and escrow industries began to ask that we assist their clients in accomplishing 1031 exchanges. In 1988, when it became obvious that this was, not only a viable company, but a potentially thriving one, the name was changed to Downstream Exchange Company.
For over twenty years, we have served thousands of clients, many with multiple transactions. We are experts in reverse 1031 exchanges, build to suit 1031 exchanges, the 1031 exchange of personal property, franchise, cattle, heavy equipment and dental practices.
Over the past several years, the accommodator industry, as a whole has evolved, and the Federation of Exchange Accommodators was established. Currently the Federation of Exchange Accommodators has over 400 members across the country, one of which is Downstream. We are excited to be on the cutting edge of this emerging industry. Please call us if we can assist you in any way with a 1031 exchange. We would be please to be of service.
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