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Tag: trustee

  • How Wall Street’s REIT giants are reshaping U.S. real estate

    How Wall Street’s REIT giants are reshaping U.S. real estate

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    U.S real estate investment trusts today manage $4.5 trillion in real estate worldwide. Many groups on Wall Street offer these tax-friendly funds to retail investors. 

    KKR’s real estate business is one of the big players in the REIT game. The private equity firm manages multiple REIT funds. The KKR Real Estate Select Trust, which currently manages $1.5 billion in assets, paid a dividend of 5.4% to its investors in July 2023.

    But the benefits extend beyond returns.

    “When you look at the after tax equivalent of that yield, it is very compelling.” said Billy Butcher, CEO of KKR’s global real estate business. “The depreciation from our properties has covered 100% of the income generated by our properties, and there’s no tax on that dividend,” he said in an interview with CNBC.

    Larger funds sometimes contain a diversified pool of assets. Categories may include office, student housing, casino, timberlands, radio and cell towers, server farms, self-storage properties, billboards, and much more.

    “Back in the 1960s, there were three or four different types [of REITs], said Sher Hafeez, a managing director at Jones Lang LaSalle, a real estate services firm. “Now, I can count at least 20 different types.”

    Top performing REIT sub-sectors in recent years include data centers, self-storage properties, residential housing and tower REITs. Residential housing delivered a return of 16% from 2010 to 2020, according to a S&P Global Investments report.

    The investor-friendly tax rules can also increase the pace of large-scale development. 

    “Having REITs there as a potential exit helps the market, and helps the availability of financing,” said Michael Pestronk, CEO and co-founder of Post Brothers, a Philadelphia-based housing developer. 

    Some funds like Invitation Homes and American Homes 4 Rent were founded in the yearslong slowdown in U.S. home construction. At the time, REITs bought and managed commercial-scale properties, which could include products like master-planned communities or traditional apartment complexes.

    In recent years, publicly traded trusts have targeted single-family rental market, and today, these REITs have grown tremendously — enough to build new neighborhoods in their entirety. 

    Watch the video above to learn the fundamentals of real estate investment trusts.

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  • International Business Consultant Jack Veale Leads Podcast Addressing What Executors and Trustees Need to Do After the Funeral of a Business Owner

    International Business Consultant Jack Veale Leads Podcast Addressing What Executors and Trustees Need to Do After the Funeral of a Business Owner

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    COVID-19 caught business owners by surprise in 2020. However, when a business owner passes away, his/her executor doesn’t have to be surprised or overwhelmed with post-funeral tasks. Business succession consultant, Jack Veale, walks us through that stage of grief and transition.

    Press Release
    –


    updated: Oct 26, 2020


    HARTFORD, Conn., October 26, 2020 (Newswire.com)
    –
    ​The sudden death of a business owner has the potential of throwing both his/her family and business into chaos. Unfortunately, because of their age, many business owners across the nation are in the COVID-19 high-risk group, and sadly, some have succumbed to the disease. In addition to COVID-19, there are common causes of illness and death still at work.

    In his most recent podcast, Jack Veale helps the executors and trustees of the business owner’s estate understand their role and the tasks involved in the post-funeral stage of this challenging process.

    There are hundreds of details that must be addressed in this post-funeral stage in coordination with family, advisors, and senior business employees.

    Jack Veale said, “The post-funeral time is critical for both the business and the family. If there isn’t a detailed plan and pre-arranged resources in place going into this stage, the family experiences more pain, and the business is put at risk.”

    A few of the dozens of subjects addressed in the fourth episode of the Sudden Death Checklist Podcast are:

    ·         The business owner’s wishes regarding the disposition of the company

    ·         Access for the family and business to passwords and social media logins

    ·         Considerations for long-time or mission-critical employees

    ·         Will and trust documents

    ·         Probate

    ·         Estate and trust distributions

    ·         Financial reporting and tax filings

    ·         Outstanding claims, litigation, court filings

    ·         Outstanding company debts and liabilities

    This podcast covers the materials and comprehensive checklists found in Section 2, pages 10,11,12, and 14 of Jack Veale’s Sudden Death Checklist workbook.

    About the Sudden Death Checklist Workbook:

    The workbook is intended to be used by business owners, trustees, and executors in conjunction with their key advisors (such as the family/corporate lawyers and wealth advisors) and their spouses/partners. It guides them in the process of working through the gathering the information that is required in the case of the business owner’s sudden death.​

    About Jack Veale

    Jack Veale, CMC, is an internationally recognized consultant, who advises closely held, family-owned companies, including ESOPs, on business succession, ownership strategy, and leadership development. Jack uses many tools to assess the organization on culture, leadership, and operating performance. Over the last 25 plus years, Jack has assisted hundreds of companies in many industries and countries, offering solutions covering strategic planning, succession planning, corporate governance, team training, and crisis management.

    Jack has authored or co-authored several books, including “Creating Strategic Innovation,” “Don’t Do That!” and “Sudden Death Checklist.”

    Contact the “Sudden Death Checklist” Launch Team at:

    PTCFO, Inc.
    48 Walkley Road, West Hartford, CT 06119-1345
    Phone: 860.232.9858

    Source: The Sudden Death Checklist

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