In 1996, Congress curtailed state-level regulation of securities offerings, or so-called “blue sky laws,” by preventing states from setting their own registration and qualification requirements for nationally traded stocks and mutual funds. By preempting state blue...
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DST 1031s: An Investment Structure that Can Defer Taxes and Property Management Headaches
A Delaware Statutory Trust (DST) is an investment structure used by investors to take advantage of the benefits of a 1031 or “like-kind” exchange and allow them to buy a fractional interest in commercial real estate without the burdens associated with maintaining and...
Understanding Real Estate Finance: The Advantages and Disadvantages of a Non-Traded REIT
Recently, a global investment manager with $1.3 trillion in assets under management, established a non-traded real estate investment trust to raise billions of dollars in capital to purchase commercial real estate in the United States and to hold real estate-oriented...
Retail Securities Law: Beware of Blue Sky Laws
State laws governing retail securities — or “Blue Sky Laws” — may not receive the attention that surrounds federal regulations, but organizations can run into significant financial and legal exposure if they fail to take them into account when considering an offering....
Mortgage Debt Growth Continues for Commercial and Multifamily Real Estate
Recently released mortgage data shows that debt issued for commercial and multifamily real estate increased steadily in 2020 despite Covid-19-related economic uncertainty and a corresponding decline in lending volume. According to information compiled by the Mortgage...
SEC Finalizes New Limits for Regulation A and Crowdfunding
The U.S. Securities and Exchange Commission on January 14 published new rules for exempt offerings, including a significant expansion of the annual offering limits for Regulation A and Regulation Crowdfunding issuers. In addition, the SEC clarified and codified rules...