Supreme Court Rules on REIT Citizenship

In the case of Americold Realty Trust v. ConAgra Foods, the Supreme Court on March 7 held that for purposes of diversity jurisdiction, a trust’s citizenship--including that of a Maryland REIT--is based on the citizenship of its members, which includes its shareholders.

Assisted by William M. Jay of Goodwin Procter LLP and James J. Hanks of Venable LLP, NAREIT filed an amicus curiae brief with the Supreme Court supporting the position of NAREIT Corporate Member Americold Realty Trust. The brief set forth detailed information about the history and characteristics of Maryland statutory REITs.

(Contact: Victoria Rostow at vrostow@nareit.com)