Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic
On 9 July 2025, the Capital Market Authority (the “CMA”) has announced a series of significant regulatory enhancements aimed at furthering the development of the Kingdom’s investment fund industry. These amendments, effective...more
The Financial Stability Board (FSB) has published a report, alongside a press release and updated webpage, examining vulnerabilities in non-bank commercial real estate (CRE) investors. The report identifies entities such as...more
It seems like such a simple question. Who owns data centers? Ownership structures in the digital economy are more varied than might appear on the surface. While the largest computing and cloud service providers, such as...more
On May 22, 2025, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Tax Bill). The Tax Bill proposes amendments to the Internal Revenue Code (the Code) that...more
On May 22, 2025, the House of Representatives passed a tax bill with some limited amendments (House Tax Bill). The House Tax Bill will now head to the Senate, where additional amendments could be made. Below, we outline five...more
The growth of the operational real estate (OpRE) sector is one of the most significant recent trends in global real estate markets. OpRE is relevant to a wide range of real estate asset classes and subsectors, but all OpRE...more
In our 2022 alert “REIT M&A Trends Through the Pandemic,” we cataloged a total of 42 new REIT transactions announced between August 2020 and May 2022, a pace that rivaled or exceeded pre-pandemic levels. From May 2022 through...more
UK real estate investment trusts (UK REITs) benefit from certain tax exemptions that have the effect of putting their shareholders in a tax position broadly equivalent to that of a direct investor in UK real estate. Those...more
Key Points Internal IRS correspondence in the form of a recent Chief Counsel Memorandum concludes that funds structured as partnerships (e.g., master funds in a standard master-feeder structure) must determine the...more
Underneath the headline points, the Budget contained a number of measures designed to fulfil the Chancellor’s objective of encouraging growth and investment. There was broadly good news for those investing in UK real estate....more
Amongst the usual round of rate changes and technical measures (including replacement of the capital allowances “super-deduction” regime with full expensing for companies incurring expenditure on plant and machinery over the...more
On December 29, 2022 the IRS and the Treasury Department issued a notice of proposed rulemaking (REG-100442-22) (the “Proposed Regulations”) that, among other things, affects the determination when Real Estate Investment...more
As part of an initiative to promote UK funds the government is consulting on changes to the UK REIT regime. These changes are intended to make the UK REIT regime more attractive and simpler....more
On 30 April 2020 the People's Republic of China (China or the PRC) announced a pilot scheme for establishing real estate investment trusts (REITs) dedicated to the infrastructure sector, dubbed as the "real" China REITs...more
Alternative assets remain very much at the forefront of European commercial real estate investment and lending strategies. These assets are outside the traditional core segments of office, industrial and retail, and are often...more
On January 13, 2020, the Treasury Department and the Internal Revenue Service published final regulations (the “Final Regulations”) regarding “Qualified Opportunity Zones” (“QOZs”) and “Qualified Opportunity Funds” formed to...more
The Tax Cuts & Jobs Act (TCJA) created Opportunity Zones (“OZ”) which offer investors the chance to defer and eliminate capital gains based on investments in designated zones that meet certain requirements and hit specified...more
Qualifying Abu Dhabi Global Market (ADGM) entities, including special purpose vehicles, foundations and real estate investment funds, may now hold title to property in Abu Dhabi (onshore and in the free zone) thanks to an...more
Treasury Provides Additional Clarity on Opportunity Zones by Issuing Second Round of Proposed Regulations - On April 17, 2019, the U.S. Department of the Treasury issued its second set of proposed regulations (the “New...more
The Treasury Department and the Internal Revenue Service (IRS) recently released much-anticipated proposed regulations, as well as a related revenue ruling (Rev. Rul. 2018-29), concerning opportunity zone investments....more
On Friday, October 19, 2018, the Treasury Department and the Internal Revenue Service issued highly-anticipated proposed regulations regarding “Qualified Opportunity Zones.” The Qualified Opportunity Zone regime was...more
A legal dispute involving an Arizona real estate development company has led to a rare court decision considering the “real estate operating company” (REOC) exception under the “plan asset” regulations of the Employee...more