Investing for impact
Based in New York, KNPRE specialises in the sponsorship and management of real estate, offering tax-advantaged and impact investment opportunities for clients
“We want to optimise value for investors while doing good in the world and delivering strategic growth for the firm,” says Heidi Wheatley of Keystone National Properties Real Estate (KNPRE). “Our founding philosophy is, ‘doing well by doing good.’”
Founded in 2016 by Mike Packman, KNPRE is a real estate investment firm specialising in the sponsorship and management of real estate and other direct investment opportunities. “Some companies look at relationships with clients as transactional – like, I want something from you,” says Heidi. “But Mike loves people, and this company allows him to build mutually beneficial relationships – many of which have turned into friendships.”
Mike founded KNPRE to build a business that strives to provide accretive impact and tax-advantaged investment opportunities for family offices and high-net-worth individuals. He is also the 1031 exchange expert for the New York Real Estate Journal and an experienced entrepreneur in the private equity and real estate sectors. In 20 years, he has created many successful businesses and is an active investor in technology and wellness companies, such as Bundlefi and Yada Yada Yoga.
Mike’s 1031 experience makes him a specialist in deferring capital gains taxes when selling a property. He can thus guide people in pursuing opportunistic real estate investments projected to preserve capital and generate predictable income. “We help real estate investors reduce and/or defer US capital gains taxes,” says Heidi. “Investors then may choose to use those extra savings to increase their social impact.”
This combination of social impact and saving clients’ money is at the core of KNPRE’s principles and is shown through their forward-thinking and unique approach to working with land. KNPRE provides opportunities to help landowners conserve land, which can help families protect their property from future development while providing valuable tax savings in the process. “In the US, the tax code provides multiple options for an individual to benefit from preserving land. One such way is through mitigation banking where the land is enhanced environmentally. The investor can then sell mitigation credits to developers or government agencies working on infrastructure projects in the area. Another option is land conservation, a programme that allows landowners the opportunity to preserve land, in perpetuity, from development,” says Mike.
Mike has written extensively about tax- advantaged and impact investing. “Understanding how to offset some of your tax liability can potentially provide you with additional funds to deploy to further your business and philanthropic goals,” he says. “It’s a winning combination.”
The rest of the team at KNPRE are seasoned professionals, too, with a wealth of knowledge across the real estate acquisition, due diligence, and financial services industries. “When investing, nothing is more important than the team acting on your behalf,” says Mike. “At KNPRE, we operate with the highest level of integrity. With every opportunity or challenge we encounter, we act based on what is in the best interest of our investors – period.”
The company runs a series of philanthropic programmes as part of its portfolio and, with an ethos committed to making the world a better place, solar is also a key area that it is exploring. “It’s about how we leave the world for our children and their children,” says Heidi, “showing them that what you do on a day-to-day basis matters.”