Prison Co. Goes REIT In Latest Sign Of Alt Asset Resurgence

Law360, New York (February 8, 2013, 8:52 PM EST) -- The largest private prison operator in America announced Friday that it plans to convert to a real estate investment trust this year, a move that real estate and tax attorneys say exemplifies a growing trend of non-real estate companies spinning off their property assets to maximize shareholder value.

Corrections Corp. of America's board of directors on Friday voted to convert the company to a REIT structure, making it the latest non-real estate company to unlock the value of its property assets through the complicated tax structure....
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