Along with the broader market, real estate investment trusts (“REITs”) and publicly traded partnerships, frequently referred to as master limited partnerships (“MLPs”), have increasingly embraced the principles of...more
Mark Twain once said, “Buy land, they’re not making it anymore.” Perhaps it is this sentiment (along with returns on investments) that has led to the popularity of real estate investment trusts...more
In a ruling that may impact real estate investment trusts (REITs) with leases that have percentage or contingent rent clauses, the IRS recently changed its prior position that rent paid under a formulaic rent escalation...more
In the recently released Revenue Procedure 2015-43, the Internal Revenue Service (“IRS”) announced that it no longer will issue private letter rulings with respect to certain tax-free spin-offs where, immediately after the...more
In order to qualify for the tax advantages available for real estate investment trusts (“REITs”), the majority of a REIT’s assets must qualify as “real property”. As the areas that REITs are investing in continue to grow, we...more
On May 9, 2014, the Internal Revenue Service and U.S. Department of the Treasury issued proposed regulations (the Proposed Regulations) under Section 856 of the Internal Revenue Code (the Code) to clarify the definition of...more