REITs:

Program Description

Real Estate Investment Trusts (REITs) own significant percentages of the commercial real estate market in several sectors including offices, mall and non-mall retail, and hotels. However, many real property lawyers know very little about the complex rules that qualify a REIT to be designated as a REIT and how these rules can affect a REIT’s transactions with others in the market place.

Topics to be covered will include:

• Basic REIT tax rules and practical tips that you need to know when dealing with REITs
• Issues in contributing property to an “UPREIT”
• Issues in taking a public REIT private
• Capital market issues when REITs are involved including special provisions in secured and unsecured financing transactions

Program Faculty

Everett S. Ward (Moderator), Partner, Jenner & Block LLP, Chicago, IL

George C. Howell, III, Partner, Hunton & Williams LLP, Richmond, VA

Mark V. Minton, Partner, Jones Day, Dallas, TX

Jeffrey M. Sullivan, Partner, DLA Piper, Raleigh, NC

CLE Credit*

1.5 hours of CLE credit in 60-minute states/1.8 hours of CLE credit in 50-minute states have been requested in states accrediting ABA teleconferences and live audio webcasts.*

NY-licensed attorneys: This non-transitional CLE program has been approved for experienced NY-licensed attorneys in accordance with the requirements of the New York State CLE Board for 1.5 total NY CLE credits.

The following states accept ABA teleconferences for mandatory CLE credit:
AL, AR, AZ, CA, CO, FL, GA, IA, ID, IL, KY, LA, ME, MN, MO, MS, MT, NC, ND, NH, NM, NV, NY, OK, OR, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY.

*States currently not accrediting ABA Teleconferences: DE, IN, PA, KS, OH