Our Approach

PRE specializes in real estate exchanges. PRE is owned and operated by licensed California attorneys with many years of exchange experience. We are regarded as national experts on tax-free exchanges and are faculty members for the nation’s premier exchange conferences. Although we do not provide legal or tax advice while serving as intermediary, we have a complete library of all Section 1031 cases and rulings. Copies of the legal authority relating to any exchange issue can be provided to you and your tax advisor so that you can make informed decisions.

Our Story

Gregory J. Rocca, Attorney, has a J.D. from the University of San Francisco School of Law. In 1980 and 1981, while at Georgetown University Mr. Rocca worked for Congressman Wayne Grisham in Washington D.C. as a legislative assistant and press secretary. Since 1984, he has worked in San Francisco specializing in real estate transactions, including tax-free exchanges. In 1988, he joined with Mr. Phillips in forming Pacific Realty Exchange, Inc. (PRE) and continues to serve as President of PRE. PRE facilitates exchanges under Internal Revenue Code Section 1031, and has been one of the leading intermediary companies. PRE has acted as a qualified intermediary in thousands of exchanges involving billions of dollars in real estate (including properties in California, Oregon, Washington, Hawaii, Texas, Colorado, Arizona, Florida, New York, New Jersey, Massachusetts and most other states). For almost 20 years, the company has faithfully managed exchange funds and provided the highest level of exchange services to its clients.

Mr. Rocca has practiced law since 1986. His practice involves real estate of all types (residential, commercial, industrial and land development), construction, leasing, sales and financing. He also has many business clients and is involved in estate planning and the administration of trusts and estates. He has co-authored with Mr. Phillips many articles on Section 1031 exchanges. Mr. Rocca is a member of the California State Bar Real Property Section. He also has a development business with his brother, Thomas J. Rocca, known as Seven Hills Properties. Mr. Rocca has been a member of the San Francisco Park and Recreation Open Space Advisory Committee for many years and is a staunch advocate for San Francisco’s playgrounds and parks.



Michael K. Phillips (1959-2014)

Mike passed away in May, 2014.  His wisdom, insight, and expertise are missed by both his colleagues and clients.

Attorney, B.A. in Economics from the University of California, Berkeley and a J.D. from the University of California, Hastings College of the Law. Mr. Phillips was admitted to the California State Bar in 1985 and was an active member for over 20 years. Mr. Phillips first worked in the tax division of Arthur Andersen & Co. in San Francisco and then in the Office of Federal Tax Services in Washington D.C. He became specialized in like-kind exchanges and was recognized nationally as an expert in the area. In 1988, he joined with Gregory J. Rocca in forming Pacific Realty Exchange, Inc..

From 1992 through 2005, Mr. Phillips was one of the expert faculty members at the Annual Conferences on Section 1031 Exchanges sponsored by the National Real Estate Development Center. He had also spoken at conferences and seminars sponsored by the California Continuing Education of the Bar, New York University Institute on Federal Taxation, National Business Institute, Federation of Exchange Accommodators, Inland Society of Tax Consultants and East Bay Association of Enrolled Agents. These conferences were attended by tax professionals, attorneys, intermediaries, brokers, title companies and businesses involved in Section 1031 exchanges. Mr. Phillips had written numerous articles on exchanges and other tax topics and is a radio commentator on tax issues. He also provided legal and tax services for real estate owners, hotels, restaurants, small businesses, estates, trusts and other clients. He was a member of the California State Bar Sections on Taxation and Estate Planning.