Real Estate Investment Trusts (REITS)

Bilzin Sumberg’s Real Estate Investment Trust (REIT) team assists clients in the organizing, structuring, financing and business transactions of REITS. Our Corporate & Tax attorneys, working together with attorneys in our Real Estate Group, advise clients on a wide range of REIT transactions, including initial structuring, restructurings, REIT tax compliance, REIT securities offerings, corporate governance, periodic reporting with the SEC, bankruptcy and workouts.

Our REIT clients include multi-billion dollar hedge funds, lenders and special servicers, and our experience covers real estate properties including residential, office, retail, multi-family, industrial and hotels.

From devising innovative structures to solve REIT tax issues, to navigating clients through the complexities of REIT rules, our goal is to protect and enhance the value of our clients’ REIT portfolios.

EXPERIENCE

Experience

Transfer of Ownership Interests to REIT Pursuant to $400 Million IPO

Representation of one of the country's largest special servicers regarding its consent to transfer all beneficial ownership interests in several borrowers to a company that became a publicly traded REIT pursuant to a $400 million IPO. The REIT owns over 1,000 properties leased to over 150 single pro...

Experience

Billions in Consents to Loan Assumptions and Equity Transfers

Representation of special servicers in connection with borrower requests for lender consent to various matters involving billions of dollars of performing CMBS loans including loan assumptions, equity transfers, loan modifications, forward and reverse 1031 exchanges, post-securitization mezzanine lo...

Experience

Formation of Private Equity Funds Targeting Commitments of $1.75+ Billion

Representation of real estate fund client in the private placement securities offering of a flagship private equity fund comprised of two separate real estate funds, one focused on debt investments and the other focused on direct residential and commercial investments. The funds' structures include ...

Experience

$1.11 Billion International Initial Public Offering

Representation of LNR Partners in their first international initial public offering (IPO), on the Singapore stock exchange, involving a large hotel portfolio valued at $1.11 billion. Led team of lenders in determining the baseline IPO metrics and in negotiating complex REIT issues.

Experience

$580 Million Loan Assumption

Representation of special servicer in connection with its consent to the borrower's sale of the property securing and the assumption of a $580 million loan evidenced by 6 pari-passu notes . The $1.2B purchase price for the property was funded by the $580 million loan assumption and cash provided by ...

Experience

$475 Million REIT Purchase and Simultaneous $237 Million Sale

Representation of publicly traded Real Estate Investment Trust (REIT) in $475 million purchase of 22 office properties across six Sunbelt states and the simultaneous sale of the membership interests of the owner of 18 of the 22 office properties for $237 million.

INSIGHTS

Client Alert May 9, 2024

Final Treasury Regulations Implement a 10-Year Transition Rule for Existing Dome...

The U.S. Department of the Treasury and the Internal Revenue Servicehave issued final regulationsthat significantly impact the determination of whether a real estate investment trust (“REIT”) or other qualified investment entity is considered“domestically controlled”under the...

Client Alert March 1, 2023

Proposed Regulations May Affect Taxation of Foreign Investors in REITs

On December 29, 2022, the IRS and the Treasury Department issued a notice of proposed rulemaking that affects the determination when Real Estate Investment Trusts (“REITs”) are treated as domestically controlled. Although the proposed regulations have not been finalized, and they would a...

Webinar November 17, 2022

General Counsel Guide To The Lifecycle of a Real Estate Joint Venture

Joshua A. Kaplan and David S. Resnick lead a discussion regarding deal considerations and fundamental issues found in every real estate joint venture.

Blog September 02, 2021

Moving Your Corporate Headquarters to Florida? Don’t Forget Your Business Incent...

With Florida’s pro-business climate and warm weather, the state has always been a target for corporate headquarter relocation and business expansion. Couple that with the elimination of the SALT deduction and a focus on quality of life issues in the age of COVID, Florida has gone from the shortlist...

Speaking Engagement April 30, 2021

The Life Cycle of a Real Estate Project: Understanding the Stages and Challenges

Joshua Kaplan participated in a presentation titled The Life Cycle of a Real Estate Project: Understanding the Stages and Challenges at the 111th Annual CLE Conference: Roaring Into The '20s: The Next Decade In-House.

Webinar March 23, 2021

Who's in Control of the Borrower - Analyst Training

Audrey Ellis presented a webinar titled Who's in Control of the Borrower - Analyst Training.

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