berkowitz pollack brant advisors and accountants

Real Estate Investment, Development and Management

Berkowitz Pollack Brant has one of the largest real estate tax practices in the US. Long-time clients include major developers, construction companies, property owners and managers, landholders, and REITs.

Real estate transactions encompass a wide-range of specialties and no two deals are alike. Our team of professionals includes individuals with tax, audit, accounting systems implementation, business valuation, dispute resolution and other areas of expertise.

 2018 Tax Cuts and Job Act Impact on Real Estate Companies and Investors

The Tax Cuts and Jobs Act provides opportunities for all taxpayers to reconsider their business structures, accounting methods and reporting positions in order to make the most of benefits provided by the new law. These decisions require careful analysis and further clarification of the new law in order to fully maximize opportunities and avoid pitfalls.

The tax advisors with Berkowitz Pollack Brant are equipped to help clients evaluate their existing business structures, project out future tax liabilities under alternative scenarios and recommend potential changes to their business structures, reporting positions and operational policies and procedures.

Advisory Services

  • Accounting systems implementation
  • Business consulting
  • Buyout of partners’ interest
  • Corporate tax planning and structuring
  • Cost segregation analysis
  • Debt allocations and planning
  • Development consulting and pro-forma analysis
  • Due diligence services
  • EB-5 project structures
  • IC-DISC for exporters and service providers
  • Lease analysis
  • Long-range tax planning for real estate developers and investors
  • Mergers and acquisitions
  • Multi-state tax compliance and consulting
  • Opportunity Zone Fund structuring
  • Ownership of real estate by tax-exempt entities and foreigners
  • Partnership and LLC operating agreements, tax allocations and economic deal considerations
  • Percentage of completion, completed contract and other long-term accounting methods
  • Real Estate Investment Trusts (REITS), tax planning, structuring and compliance
  • Review and modeling of complex tax allocations
  • Sale/leaseback structuring
  • Tax compliance services
  • Tax controversy assistance relating to IRS examinations and appeals
  • Tax deferral strategies
  • Tax planning for debt restructuring and related forgiveness of debt issues
  • Tax-free exchanges
  • Transaction structuring for complex deals
  • Unrelated Business Taxable Income (UBTI) considerations, including debt-financed acquisitions
  • Valuation analysis

Real Estate Audit and Assurance Services

  • Business risk evaluation
  • Compliance monitoring for management policies and procedures
  • Construction contract analysis
  • Development consulting and pro-forma analysis
  • Due diligence services and specialized reports
  • Financial statement audits, reviews and compilations
  • Mergers and acquisitions
  • Special report preparation to comply with lease agreements

Real Estate Litigation Support Services

  • Analysis of limited liability company operating agreements
  • Damage assessment
  • Forensic analysis of construction costs and subcontractors
  • Forensic and valuation investigations
  • Forensic investigations for lenders, regulators and receivers
  • Internal control assessment
  • LLCs
  • Proper allocation of income and losses to partners and members of joint ventures
  • Usury issues and profit-sharing calculations

 

Real Estate Capital and Financial Services

Orion Real Estate Group, an affiliate of Berkowitz Pollack Brant

  • Investment fund structuring
  • Joint venture capital
  • Mezzanine debt financing
  • Preferred and common equity
  • Property sourcing, acquisition and disposition
  • Senior debt financing

Real Estate Investment Trusts (REITs)

Real Estate Investment Trusts (REITs) require sophisticated tax and accounting expertise to manage their complex regulatory requirements and audit obligations. Cost control, managing efficiencies and streamlining operations are important components of a profitable REIT.

Berkowitz Pollack Brant provides these unique entities with insight on a variety of REIT-specific tax and accounting rules and regulatory requirements. Our real estate practice has experience with organizations that own and manage office, multifamily, retail, industrial and other real estate investments, including in-house involvement and proficiency in both traditional and mortgage REITs.

Our REIT services include:

  • Acquisition due diligence
  • Audit and attest services
  • Cash-management strategies
  • Corporate taxation
  • Cost segregation studies
  • Financial reporting and analysis
  • Internal audits
  • Internal controls
  • Lease reviews and REIT income analysis
  • Like-kind exchanges
  • Partnerships and joint ventures
  • Quarterly and annual REIT testing
  • Strategic planning and exit strategies
  • Tax consulting and compliance
  • Transaction structuring
  • UPREIT planning
  • Valuations and transfer pricing

Accounting Systems Implementation

Integrated accounting systems are among the most valuable tools a company can use. Well-selected and fully implemented systems enable businesses to generate real-time reports, seamlessly connect financial data, and streamline the input and outflow of information.

Our consulting team has years of experience with the most common and niche providers in this space. We apply our knowledge and discipline to the selection process and oversee implementation to ensure the use of all system functionality. We typically stay on-site to help guide in-house teams on the transition to a new system.

As one of the largest providers of tax and business consulting services to the real estate industry, our firm has expertise in portfolio, joint-venture, construction and REIT accounting.

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