Sharyland — An REIT Pioneer?

Law360, New York (May 19, 2010, 12:37 PM EDT) -- As those who follow developments in electric transmission issues are aware, a 2007 Internal Revenue Service private letter ruling opened up the possibility of real estate investment trust ("REIT") ownership of electric transmission systems. Given the significant interest in transmission investment throughout the country, facilitating access to a significant pool of public equity capital through an investment vehicle that offers significant tax benefits could be a welcome development. However, until now, we are not aware of any taxpayer relying on the 2007 IRS ruling to form...
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