Nearly $130 billion in CMBS debt reaches maturity before the end of 2022. Given the distress still rippling through the retail and hotel sectors, some borrowers will have a tough time finding new capital.
The UPREIT structure leverages Section 721 of the Internal Revenue Code, which allows investors to contribute ownership of a property to a partnership subsidiary of a REIT in exchange for a partnership interest or operating partnership (OP) units. Effectively, the OP units are used as currency.
Real estate companies are receiving more auditor warnings about potential bankruptcies, reports The Wall Street Journal. ETF Trends concludes potential changes to the 1031 exchange legislation are unlikely to affect REITs and real estate ETFs. These are among today’s must reads from around the commercial real estate industry.
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