(PRWEB) May 14, 2011
The Peters & Associates announced the successful completion of another real estate charitable transaction for their client National Emergency Medicine Association. The transaction was structured as a charitable Bargain Sale Transaction for the former Syracuse China Facility, located in Syracuse, New York. National Emergency Medicine Association purchased the facility in March and then resold the facility to an end buyer. The property was a vacant industrial facility containing approximately 640,000 Sq. Ft. on 112 acres of land. The seller, Syracuse China Company, a subsidiary of Libbey, Inc., manufactured their Syracuse China brand products at this location until closing the facility in April of 2009. We are very pleased with the transaction in that Bargain Sales and Donations of non-productive real estate provide additional funding for the charity’s mission.
The National Emergency Medicine Association is a 501(c)(3) nonprofit organization founded in 1982. For more than twenty years, this work has been accomplished through their special programs including the National Heart Council, National Stroke Council, Kids Do Matter, National Alzheimer's Council, and Senior Life. They have become known for our educational health-related materials, which are free to schools, hospitals, health centers, and a wide array of social service programs. "Prevention through Education" is the overall theme that characterizes the work they do.
The concept of using surplus real estate provides a mechanism for corporations to expand their philanthropic efforts and a stradegy to recycle their surplus real estate quicker. At the same time corporations receive some attractive tax benefits and cost saving by utilizing these creative transactions for surplus properties.
Peters & Associates is pleased to have successfully orchestrated this transaction for the National Emergency Medicine Association.
For more information contact:
Peters & Associates
11 Wellington Court
Saratoga Springs, NY 12866