NAREIT Joins Organizations Supporting Preserving Investment in Neighborhoods Act

03/20/2017

NAREIT and a coalition of real estate organizations wrote to Reps. Patrick Tiberi (R-OH) and Danny Davis (D-IL) on March 17 to express their support for legislation aimed at excluding from gross income certain contributions to the capital of a partnership.

The Preserving Investment in Neighborhoods Act (H.R. 1416) “upholds public/private partnerships by extending the exemption from federal income tax upon the receipt of state/local economic development and infrastructure funds to all entity types,” according to the real estate groups.

Tiberi and Davis both serve on the House Ways and Means Committee and are co-sponsoring the bill.

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

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.