Real estate exchanges merge

Thursday, Nov. 18, 2004 | 11:03 a.m.

Southwest Exchange Corp. and Nevada National Exchange announced that the two companies have merged. The company will retain the name Southwest Exchange. Terms of the merger were not disclosed. Initially Nevada National Exchange will be a wholly-owned subsidiary of Southwest Exchange Corp.

Southwest Exchange has 18 employees and Nevada National Exchange has two employees. All will stay with the companies.

Operations will be managed by President and Chief Executive David Keys. Gean Mundt, formerly chief executive of Nevada National Exchange, will become a member of senior management and will head up the company's sales and marketing efforts.

The company will continue to specialize in 1031 real estate exchanges, often used by people or companies looking to avoid capital gains taxes upon the transfer of investment property under the Internal Revenue Service Code section 1031 "tax deferred exchange."

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