Top Accounting Firms in New Jersey Commercial Real EstateAnchin in the News
Anchin has deep experience working alongside real estate firms and developers of all sizes including many top Real Estate organizations in the industry. Our Real Estate Group advises a broad range of clients including real estate owners, developers, fund managers, agents/brokers and property managers. Our clients operate across all real estate asset classes including commercial, residential (multi-family), industrial, and hospitality.
Anchin’s team of highly qualified audit, tax, and advisory professionals are recognized leaders in the Real Estate industry. Our team of professionals works with each client to provide unique and tailored strategies to help them identify and navigate the complexities of their business. Our partners are involved in every stage of a client’s lifecycle, enabling our team to develop creative solutions that best align with our clients’ needs to grow their businesses into the future.
On the Horizon
The ongoing COVID-19 pandemic has disrupted many facets of the economy, and with the changing economy, comes opportunities, including an increase in the need for advisory services. While tax and audit are the core services we offer, our advisory services are among the fastest growing segments. Since the pandemic, our team has supported a wide range of clients in navigating through the complex issues brought on by COVID-19 including lease renewal assistance and relief with navigating lender requirements and covenants. Additionally, the pandemic has sparked an increased interest in asset repositioning, as many clients are inquiring about the financial and tax implications for re-strategizing their business in response to the evolving market conditions. We are confident that the post-pandemic environment will provide exciting new opportunities for our team and our clients in both traditional and advisory services.
A client recently sold a prominent hotel that was owned through various entities and trusts. We were engaged to determine if the inside and outside basis in the partnership that held the property was properly calculated. We reviewed and analyzed over 20 years of intercompany transactions, mortgages, loan guarantees, internal accounting procedures, historical tax filings and allocations across the various entities and trusts. As a result of our tailored approach, we were able to identify over $70,000,000 of previously unidentified tax basis. Our client was able to capture significant tax savings that otherwise would have been missed.
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