Here’s a very, very interesting announcement from the CREF-C. It covers an important issue in every distressed debt situation: the tax picture of the borrower.
From the CREF-C:
- "The Senate Committee on Finance has proposed a substitute amendment to the House-passed H.R. 4213, The American Jobs and Closing Tax Loopholes Act, which would soften (but not eliminate) the tax provision related to "carried interest" for real estate partnerships. The issue remains a high priority for many real estate trade associations, particularly commercial borrower groups. For its part, the CRE Finance Council has supported coalition efforts, including a letter along with other trade groups urging Members of Congress to vote against the tax increases for carried interest."
- The other trade groups?
- American Hotel & Lodging Association
- American Resort Development Association
- American Seniors Housing Association
- Building Owners and Managers Association International
- CRE Finance Council
- Council for Affordable and Rural Housing
- International Council of Shopping Centers
- NAIOP, The Commercial Real Estate Development Assn.
- National Apartment Association
- National Association of Home Builders
- National Association of Real Estate Investment Managers
- National Multi Housing Council
- The Real Estate Roundtable
If you have links to other commentary on this legislation, or want to post your own comments, please do so below.