SEC Decision on Rule 144 Sales Will Save REITs Money, Lawyer Says

Michael McTiernan, a partner at Hogan Lovells LLP, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.

McTiernan discussed the Securities and Exchange Commission’s (SEC) recently released no-action letter that will allow holders of shares of a publicly traded REIT that they received in exchange for privately placed units of the REIT’s operating partnership to sell those shares under Rule 144 without having to start a new holding period.

News

PNLR Market Undergoing Transformation, Lawyer Says

Rosemarie Thurston, a partner at Alston & Bird LLP, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.

Thurston leads Alston & Bird’s REITs and real estate funds practice. She moderated a REITWise panel on the public non-listed REIT (PNLR) market.

News

Foreign Investors Heating Up Capital Markets, Real Estate Lawyer Says

Sandy Presant, chair of the Real Estate Fund Practice at Greenberg Traurig LLP, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.

Presant said capital in the private real estate market is “very heated,” as foreign funds continue to be attracted to the safe haven of the United States.

News

FIRPTA Revisions Free Foreign Capital to Invest REITs, Tax Lawyer Says

Prentiss Feagles, a partner at Hogan Lovells LLP, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.

Feagles commented on reforms to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) that were included in the Protecting Americans From Tax Hikes (PATH) Act of 2015 and their impact on REITs.

News

Spinoffs Motivated by Increased Efficiency, Lawyer Says

Dave Levy, a partner at Skadden Arps, joined REIT.com for a video interview at REITWise 2016: NAREIT’s Law, Accounting and Finance Conference at the Marriott Marquis in Washington, D.C.

Levy discussed the impact of restrictions imposed by the Protecting Americans from Tax Hikes (PATH) Act of 2015 on tax-free spinoffs of REIT assets. According to Levy, the spinoff trend that occurred prior to the PATH Act suffered from a “perception problem” in the media.

News

PNLR Liquidity Events Changing, Lawyer Says

Ken Betts, international partner with Locke Lorde LLP, joined REIT.com for a video interview during REITWise 2015: NAREIT’s Law, Accounting and Finance Conference held in Phoenix.

Betts noted that liquidity events are becoming more common in the public non-listed REIT (PNLR) sector. He described two different kinds of liquidity events for PNLRs. Roughly 50 percent have consisted of mergers and acquisitions (M&A). The other half have come through initial public offerings (IPOs).

Ken Betts

News