The Mann Report published an article by Tax Director Daniel Smith, about real estate family business succession and UPREIT strategy.
The Mann Report
By Daniel Smith, Director, Tax & Business Services
Family owners who decide to move on need to evaluate their options carefully. Such options need to reduce the accumulated investment and liquidity risk of the real estate holdings and reduce the management burden, while retaining wealth in the family and minimizing the income tax burden upon an exit. A creative solution to provide more flexibility and help achieve these desirable outcomes is the use of an Umbrella Partnership Real Estate Investment Trust (UPREIT).