NAREIT sent comments to the IRS on July 7 expressing its concerns with section 385 regulations proposed by the Obama administration.

Specifically, the proposed regulations would recharacterize certain debt instruments as equity.

NAREIT outlined numerous reservations about the proposed regulations, including the “uniquely harsh impact” that they might have on REITs and their tax status.

(Contact: Dara Bernstein at dbernstein@nareit.com)

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