Accruit Welcomes David Gorenberg as Managing Director

The team at Accruit is pleased to continue rapid growth plans by adding David Gorenberg as Managing Director. An attorney by trade, David has spent 20 years of his career in the 1031 like-kind exchange industry and is a Certified Exchange Specialist®. David is joining Accruit from Wilmington Trust, where he served as the Vice President and Product Leader for Wilmington Trust Internal Revenue Code Section 1031 states that "no gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held for productive use in a trade or business or for investment." 1031 Exchange , LLC out of Wilmington, DE. Prior to that, he spent six years with Citibank’s 1031 operations.

“When it came time to relocate my 1031 exchange practice, I wanted to join an industry leader. I've known Brent and other members of the Accruit team for years, and I'm thrilled to be joining such a highly respected firm," says David Gorenberg.

As part of Accruit’s commitment to strategic growth, David was selected from top industry professionals to join Accruit’s team of subject matter experts. David is past President of the Federation of The transfer of the relinquished property to the Qualified Intermediary, and the receipt of the replacement property from the Qualified Intermediary is considered an exchange. To be compliant with IRC Section 1031, the transaction must be properly structured, rather than being a sale to one party followed by a purchase from another party. Exchange Accommodations (FEA), making Accruit the only QI in the country to boast three past FEA presidents on staff at one time. David joins colleagues Max A. Hansen and Martin S. Edwards, creating a triumvirate of 1031 expertise here at Accruit. With David's addition, the collective experience at Accruit now exceeds 150 years working in the industry. 

“Having served with David on the FEA Board for numerous years, I experienced first-hand how David helped shape our industry. Now, we are fortunate to add him to our team,” says Brent Abrahm, President & CEO of Accruit. “This gives our company a significant presence coast to coast.”

David is active in public speaking and business development opportunities as they relate to 1031 exchange transactions, Tenant-In-Common (TIC) and A Delaware Statutory Trust is a real estate investment vehicle that provides investors with access to investment grade real estate that is generally larger than they could have acquired on their own. The Taxpayer acquires a fractional interest (see below) in the property. Use of DSTs in 1031 exchanges was approved by the IRS in Revenue Procedure 2004-86. Delaware Statutory Trust (DST) properties. David spends a significant portion of his time presenting continuing education classes to accountants, attorneys, financial planners, real estate brokers, and investors nationwide.

With offices in Denver, Chicago, Dallas, and Dillon, MT, Accruit adds a presence on the east coast with the addition of Gorenberg, who will be based out of Philadelphia, PA.

When he's not helping clients with exchanges, David can be found at a marching band festival, gathering trivia, or spending time with his family.