REIT Conversion Legal Status Questioned

Adrian J Cotterill, Editor-in-Chief

Our sources in NYC tell us that the IRS is forming an internal group to examine the legal status of ‘real estate’ for REIT conversions.

This new IRS group will likely impact the IRS’ ability to provide a response to companies with similar REIT-conversion requests, including those in the billboard space.

This has of course, raised concerns about future REIT conversions (including LAMR, and CBS outdoor) many of which are down 10%+ in after hours trading.

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