News & Press
Spotlight – Real Estate New Jersey
As published in the RE-NJ Top Accounting Firms in New Jersey Commercial Real Estate Issue
Anchin has deep experience working alongside real estate firms and developers of all sizes, including many of the industry’s top organizations.
Our Real Estate Group advises a broad range of clients including real estate owners, developers, fund managers, agents/brokers, property managers, movie studios, and storage and hospitality facilities. Our clients operate across all real estate asset classes including commercial, residential (multi-family), industrial, and hospitality.
While many clients already rely on us for traditional tax and compliance work, our broad real estate expertise can add value to every aspect of your business, helping to improve processes and your bottom line, while establishing a strong foundation for long-term success. Our team works alongside industry professionals to structure real estate transactions in a tax-efficient manner. We also develop strategic plans to maximize stakeholder value, and assist with estate and succession planning, while structuring the company in the most efficient and advantageous ways for future growth, investments and exit strategies. Our team’s proactivity and partner-level attention to each client relationship set us apart from competing firms. After nearly a century in business, we are not distracted by industry consolidation or a volatile market, and remain focused on our clients’ needs.
On the Horizon
As a result of the evolving real estate market and the pandemic, fund managers have been presented with attractive investment opportunities in certain real estate asset classes. Over the last few years, we have seen strong growth in our client base within the real estate funds sector.
Leveraging our experience with existing real estate fund clients, we understand the complexities and pain-points of starting and growing a fund. We have successfully provided fund managers with tailored fund formation guidance, including tax structuring and compliance, financial reporting requirements and strategic guidance around fees and waterfall structures. Our clients view us as partners and not just service providers.
Our real estate team is proud of our collaborative environment, and our seamless access to the full capabilities of our firm. We continually work across our service and industry lines to provide our clients with exceptional service and ideas.
Our valuation team was engaged by a New Jersey real estate family to assist with entity valuations as part of their overall estate plan. After preliminary discussions with the family, Anchin’s real estate team was brought in to review the plan. Upon review, it was determined that there were significant income tax issues with the estate plan due to the types of entities that owned the real estate assets, and negative tax capital accounts associated with some of the assets. Anchin helped restructure the plan using a partnership “freeze” technique. This technique allowed for the deferral of the current income tax consequences that the family would have faced had the original plan been implemented. It also removed any future appreciation of the assets from the family’s taxable estate.
At a Glance
Year Founded: 1923
Number of Accountants involved in Commercial Real Estate in New Jersey: 36
Areas of Expertise in Real Estate: Tax structuring & planning, tax compliance, financial reporting, cost segregation, 1031 tax deferred exchanges, litigation support, due diligence, lease consulting & lease testing, entity structuring, re-capitalization, estate planning, fixed asset analysis