Real estate has had its ups and downs over the years but one thing has remained constant: tax consequences are important to almost every real estate transaction.
We assist clients with respect to the full range of real estate acquisitions, dispositions and tax-deferred exchanges, including complex multi-party and multi-property exchanges and non-simultaneous and reverse exchanges, real estate leasing, real estate development and financing transactions. We provide advice with respect to the tax implications of real estate joint ventures and syndications, pension investments in real estate, convertible and participating mortgage transactions and rehabilitation and low-income housing credit transactions.
Our tax expertise in real estate extends to timber transactions which include not only the special rules applicable to the taxation of timber but also tax considerations for investment structures involving real estate investment trusts (“REIT”s), partnerships, tax-exempt organizations, foreign investors including foreign governments and pension funds.
Real estate these days isn’t just “dirt” law. REITs, vehicles with their own special federal income tax treatment, own a substantial percentage of all commercial real estate in the U.S. We have long experience in advising clients on the formation and operation of REITs, including public and private REITS. We advise on the conversion of existing taxable or tax-exempt entities into REITs; structuring umbrella partnership REITs (“UPREITS”); and public offerings and private placements of equity and debt securities of REITs. We have acted for clients in the acquisition, disposition and liquidation of private REITs; and property acquisitions and dispositions by REITs, including roll-up transactions and property exchange programs.