Kendal A. Sibley

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Articles

REMIC CPACE Ruling May Be Instructive for REITs

Nov 18, 2024 | natlawreview.com | Kendal A. Sibley

CPACE stands for Commercial Property Assessed Clean Energy. It describes government programs where property owners borrow money to finance energy efficiency, renewable energy and other clean energy improvements. The amount is repaid, with interest, through voluntary property tax assessments. A CPACE arrangement involves an agreement with a state or local government that has a CPACE program, as well as a loan agreement with a lender.
Warren Proposals to Curtail Health Care REITs Continue; Lodging REITs Also Mentioned

Nov 13, 2024 | natlawreview.com | Kendal A. Sibley

On October 11, Senator Warren reintroduced the Stop Wall Street Looting Act of 2024 (the “Proposed Legislation”). Senator Warren previously introduced substantially similar proposals in 2019 and 2021, which both failed to advance.
IRS Rules Hypothecation Loan Secured by Real Property Mortgages

Nov 11, 2024 | natlawreview.com | Kendal A. Sibley

In Private Letter Ruling 202424011, the Internal Revenue Service ruled that the taxpayer’s hypothecation loan is secured by mortgages on real property for purposes of Section 856(c) of the Internal Revenue Code and also that the taxpayer’s hypothecation loan is an interest in mortgages on real property for purposes of Section 856(c). The “Hypothecation Loan” described in the ruling is a loan by a REIT to a construction lender.
REIT Dividend Planning for Year End

Oct 21, 2024 | natlawreview.com | Kendal A. Sibley

As the end of 2024 comes into sight, REITs have opportunities for tax planning with respect to year-end distributions. Dividends declared in October, November, or December, payable to shareholders of record in such month, and actually paid during January of the following year, are treated as paid on December 31 for both the REIT and the shareholders (Code section 857(b)(9)).
Real estate capital markets

May 17, 2023 | lexology.com | James Davidson |Anna Page |Steven Haas |Kendal A. Sibley |Robert Smith |Samuel M. Kardon | +5 more

REAL ESTATE CAPITAL MARKETSNEWSLETTERSPRING2023Published in May 2023 TABLE OF CONTENTSLETTER FROM OUR TEAM...................................... 3 TEAM MEMBER SPOTLIGHT: MAYME DONOHUE...............................................4 DEAL SPOTLIGHT: REXFORD INDUSTRIAL REALTY, INC. ...................... 5 THOUGHT LEADERSHIP: PAY VERSUS PERFORMANCE PROXY DISCLOSURE: TAKEAWAYS FROM MAJOR PLAYERS IN THREE REIT SECTORS .........................