Structuring and closing a public or private REIT equity or debt financing involves a series of complex tax, securities, partnership, and real estate law issues. The preparation of a registration statement and the underlying documents for a publicly offered REIT financing transaction can be extremely time consuming, and the coordination of the financing activity with the real estate work can present difficult timing issues.

Axia's diverse nature of real estate industry practice can be tremendously valuable in organizing and effecting a public or private financing in an efficient and cost-effective manner, while minimizing disruptions to the company's ongoing business operations.

Advisory:

• Structuring
• Compensation
• Benchmarking
• 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

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.)

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
• Cash Flow Modeling
• Closing Statement Review and/or Preparation
• Structuring of Transaction
• Economic
• Tax Efficiency
• GAAP Treatment