First American Acquires 1031 Solutions
SANTA ANA, Calif.–(BUSINESS WIRE)–First American financial company (NYSE: FAF), a leading provider of title, execution and risk solutions for real estate transactions and a leader in its industry’s digital transformation, today announced the completion of the acquisition of assets of 1031 Solutions, LLC, a full-service 1031 exchange company, by First American Qualified Real estate exchange brokerage services, including reversal and improvement exchanges, for attorneys, accountants, real estate professionals and investors. All of 1031 Solutions’ capabilities will now be positioned under the First American Exchange Company brand.
“We are pleased to welcome 1031 Solutions and their extensive expertise to the First American family,” said Julie Baird, President of the First American Exchange Company. “The addition of 1031 Solutions will augment our ongoing efforts to provide superior service to customers in the Rocky Mountain region and surrounding markets, and we look forward to capitalizing on new growth opportunities.”
Based in Boulder, Colorado and founded in 2002, 1031 Solutions’ team of experts has over 50 years of experience facilitating tax-advantaged 1031 file exchanges. 1031 Solutions founders Richard and Linda Levy will assist in the transition of business and customer relationships.
“Joining First American will provide us with new opportunities to serve our customers,” said Richard Levy. “We are also excited that our employees will be joining a company that shares a similar people-centric culture, as reflected in First American being named one of the 100 Best Places to Work by Great Place to Work® and Fortune magazine for the seventh year running.”
First American Financial Company (NYSE:FAF) is a leading provider of ownership, settlement and risk solutions for real estate transactions. With a combination of financial strength and stability built over more than 130 years, innovative proprietary technologies and unmatched data assets, the company is at the forefront of the digital transformation of its industry. First American also provides data products to the title industry and other third parties; assessment products and services; undersupply of mortgages; home warranty products; banking, trust and asset management; and other related products and services. With total 2021 revenues of $9.2 billion, the company provides its products and services directly and through its agents in the United States and abroad. In 2022, First American was named one of the 100 Best Places to Work by Great Place to Work® and wealth magazine for the seventh consecutive year. More information about the company can be found at www.firstam.com.
About 1031 Solutions, LLC
1031 Solutions, LLC is a full-service 1031 exchange company offering qualified real estate exchange brokerage services, including reverse and improvement exchanges. Based in Boulder, Colorado, 1031 Solutions was founded in 2002 and serves as a resource for tax-advantaged 1031 exchanges for attorneys, accountants, real estate professionals and investors in the Rocky Mountain area and across the country.
Certain statements made herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the fact that they are not purely historical or current facts and that the words “believe”, “anticipate”, “expect”, “intend”, “plan”, “predict”, “estimate”, “project”, “will”, “will continue”, “will probably result” or other similar words and phrases or verbs in the future tense or condition such as “will”, “can”, “could”, “should”, “would” or “might”. These forward-looking statements include, without limitation, statements regarding anticipated benefits from the transaction. These forward-looking statements are based on current expectations and assumptions, which may prove to be incorrect. There are risks and uncertainties that could cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause expected results to differ from those described in the forward-looking statements include, but are not limited to, regulatory, technological or business challenges. These forward-looking statements speak only as of the date they are made. First American undertakes no obligation to update any forward-looking statements to reflect circumstances or events after the date of the forward-looking statements.