Three Ohio-based REITs joined a coalition of companies from the state in writing to Treasury Secretary Jack Lew on Sept. 27 to express their concerns with proposed debt equity regulations.
DDR Corp. (NYSE: DDR), Forest City Realty Trust, Inc. (NYSE: FCE.A) and Phillips Edison & Company, Ltd. were among the companies who wrote to Lew. They said the proposed regulations under section 385 of the Internal Revenue Code are already harming Ohio businesses.
“We believe the regulations, as proposed, go far beyond Treasury’s stated intent to curtail abusive transactions. If the regulations were to become final in their current form, they would significantly impede the ability of our businesses to invest and create jobs in Ohio,” the companies wrote in the letter to Lew.
(Contact: Dara Bernstein at dbernstein@nareit.com)