REIT Services
The Schonbraun McCann Group (SMG), an FTI Company, has developed a significant practice dedicated to public and private REITS and represents more than 40 REITs on a variety of assignments. With ever-changing independence rules and corporate governance concerns, public and private REITs turn to SMG to meet their compliance and consulting needs.
SMG offers the following services to its REIT clients:
Accounting and Auditing:
- Joint Venture Audit, Review and Compilation Services
- Consultations on Accounting & Auditing Matters and Rules
- FAS No.141 (Purchase Price Allocation) Valuations
- FIN No.46 Analyses to Determine Consolidation Requirements
- Accounting Outsourcing
- Internal Controls Review and Testing
- Sarbanes-Oxley Implementation and Maintenance Outsourcing
- Litigation Support
- Special-Purpose Reports
Consulting:
- Compensation
- Benchmarking
- Structuring
- Representation of Board of Directors or Executives
- Estate and Family Planning
- Operations review
- Annual CAM and/or Operating Expense Analyses and Billing
- Process Flow Charting and Narratives
- Accounting Department Efficiency Reviews
- Computations of Promotes and Cash Flow Waterfalls
- Lease Database Management
Tax:
- Complete Compliance Services (Including Outsourcing of Tax Department)
- Tax Structuring Consultations
- REIT Testing Related to Potential Acquisitions
- Annual and Quarterly REIT Testing
- Cost Segregation Studies
- Tax Projections (Determining Dividend Requirements)
- E & P Studies
- State and Local Tax Compliance, Structuring and Consulting
- IRS, State and Local Representation
- Ownership Flow Charting
- Dividend Classification (Capital Gain, Return Of Capital, etc.)
- Estate and Tax Planning for Executives Acquisition
Due Diligence:
- Property Level
- Corporate Level (Including Complete Analyses of Overhead and Payroll Costs)
- REIT-to-REIT Financial Modeling (Merged Pro Forma)
- CAM and Operating Expense Reviews
- Lease Abstracting and Review
- Estoppel Preparation
- Cash Flow Modeling
- Closing Statement Review and/or Preparation
- Structuring of Transaction
- Economic
- Tax Efficiency
- GAAP Treatment
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