Green Street



One of the Defining Stories of 2013: REIT Conversion Pause

In a late 2013 interview, Dirk Aulabaugh, Managing Director with Green Street’s Advisory Group, reflects on the defining stories for the REIT industry in the past year.  He highlighted the move by the IRS to take a closer look at companies considering the election of REIT status. Dirk explained that Green Street has been working with some of these companies, and that the IRS announcement essentially halted all of these decisions, at least temporarily. He noted that around six companies, representing nearly 10 percent of the REIT industry equity market capitalization, were impacted. “We may see none of those companies come to the REIT space or we may see all six.”