Real Estate - Tax

A Secure Foundation

Real estate investors, developers, lenders, and entrepreneurs face the challenge of constantly changing regulatory, economic, and legal environments.  Complex federal, state, local, and international tax laws are part of this environment. 

Blank Rome attorneys possess a unique combination of governmental, financial, legal, and industry-specific experience that enables us to provide timely, practical, and careful tax advice that delivers value to our clients.  We fulfill this goal by applying a few simple principles:  

  • We understand our clients’ business goals and objectives—tax and non-tax. 
  • We communicate frequently and openly with clients. 
  • We use a common sense approach—whether in crafting a solution to a complex tax issue, presenting an argument to a tribunal, or agreeing to a fee arrangement. 
  • And finally, we are pragmatic—our goal is to deliver significant value to our clients in a cost-effective manner.

Our tax attorneys have delivered value to Blank Rome’s real estate industry clients by:

  • Providing strategic tax advice, such as:
    • Determining tax-efficient structures for real estate acquisition, investment, operations, and dispositions
    • Formation of real estate funds and joint ventures; executing transactions for such funds and joint ventures; and review of real estate funds, both domestic and international, for investors in such funds
    • Advice and planning on various special issues, such as passive loss rules, at-risk rules, UBTI, “fractions rule” allocations, sale-leasebacks, debt restructuring, and more
    • Advising on the taxation of REITs, in regard to formation, structuring, financing, mergers and acquisitions, joint ventures, and operations
    • Advising on and structuring New Markets Tax Credits transactions
    • Realizing complex economic and legal goals, including the use of complex distribution and allocation provisions
    • Assisting in workouts and debt restructurings, including representations of borrowers, lenders, and third-party acquirors
    • Advising on cross-border real estate investments, both for non-U.S. investors in U.S. real estate and U.S. investors in non-U.S. real estate
  • Requesting letter rulings from the U.S. Internal Revenue Service and other governmental authorities
  • Representing our clients in federal, state, and local civil and criminal tax controversies, including audits, administrative appeals, and litigation

Our tax attorneys have experience dealing with the whole spectrum of real estate clients – large publicly traded REITs, large real estate funds and institutional investors, complex joint ventures, private real estate companies, family-owned companies, real estate lenders, developers, and real estate entrepreneurs.  We approach the tax issues raised in these various contexts with an awareness of the special features of each of them, so as to provide practical solutions which work efficiently.