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REITs: Developments in REIT Conversions, FIRPTA and the 2017 Tax Reform Act

Recording of a 90-minute premium CLE/CPE webinar with Q&A

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Conducted on Wednesday, November 14, 2018

Recorded event now available

or call 1-800-926-7926

This CLE/CPE course will provide tax advisers and real estate counsel with a review of the various organizational, operational and federal tax requirements that must be met by real estate investment trusts (REITs). The panel discussion will include the impact of tax reform on REITs and UPREITs.

Description

The REIT market continues to be robust. Real estate and tax counsel must have a thorough understanding of REIT formation and investment, including rules relating to REIT subsidiaries (QRSs and TRSs), UPREIT structures, and REITs that own partnership and LLC interests.

REITs must satisfy complex IRS requirements regarding the organization of the entity, its income, assets and distribution of income, and its ownership base. REITs also enjoy tax advantages, such as no entity level tax and the ability to attract tax-exempt and foreign investors. Tax-exempt investors and sovereign wealth funds can reduce or eliminate the tax they would otherwise pay when investing in U.S. real estate.

Recent tax reform should have a positive impact on REIT investment, but there are new provisions to consider in REIT transactions. They include new tax rates for certain pass-through income, including ordinary REIT dividends and new rules regarding deductions relating to REIT dividends (including mortgage REITs), “earnings stripping” under Section 163(j), and recovery periods for investment in improvements, among others.

Listen as our authoritative panel of tax and real estate attorneys guides you through navigating the complex tax rules for structuring REIT investments and the tax treatment of REIT transactions.

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Outline

  1. Organizational requirements
  2. REIT income and asset tests
  3. REIT distribution requirements
  4. Impact of tax reform
  5. Qualified REIT subsidiaries and taxable REIT subsidiaries
  6. UPREIT structures
  7. Best practices for confronting and managing risk

Benefits

The panel will review these and other relevant issues:

  • What are the organizational and operational tax rules for REITs?
  • What does counsel need to know when involved in a potential conversion to a REIT?
  • What are the economic limitations and benefits of REIT status?
  • What does counsel need to know when contributing properties to REITs?

Faculty

Bloomfield, Micah
Micah W. Bloomfield
Partner
Stroock & Stroock & Lavan

Mr. Bloomfield is a tax attorney whose practice emphasizes financial products. He has extensive experience on tax...  |  Read More

Greenberg, Mayer
Mayer Greenberg
Partner
Stroock & Stroock & Lavan

Mr. Greenberg provides advice to domestic and foreign investors on tax implications of joint ventures, mergers,...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include course handouts.

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