UPREIT definition

UPREIT means Corporate Office Properties, L.P., a Delaware limited partnership.

UPREIT means any entity which would be consolidated with Borrower in accordance with GAAP which (i) is organized as a limited partnership, (ii) is taxed as a partnership for federal income tax purposes pursuant to the provisions of the Code, (iii) more than ten percent of the Equity Interests of such entity are owned by Persons not Affiliated with the Borrower, (iv) has Borrower as the sole general partner, and (v) not less than a majority of the interests in such entity are owned by Borrower. Borrower shall not organize an UPREIT without the prior written approval of the Majority Lenders and which approval may be conditioned upon, among other things, such UPREIT becoming a co-borrower or guarantor with respect to the Obligations and such changes and additional covenants to the Loan Documents as the Majority Lenders may require as a condition to the organization of the UPREIT by the Borrower.

UPREIT has the meaning set forth in the recitals.

Examples of UPREIT in a sentence

This structure is commonly referred to as an umbrella partnership REIT, or UPREIT.
We use the UPREIT structure because a contribution of property directly to us is generally a taxable transaction to the contributing property owner.
AMLI is structured as an UPREIT, or umbrella partnership real estate investment trust, and we own interests in properties and conduct our business through AMLI Residential Properties, L.P., (the Operating Partnership or OP).
To establish the UPREIT, the Trust formed Maxus Operating Limited Partnership (“MOLP") to which the Trust contributed all of its assets in exchange for a 99.999% partnership interest in MOLP and the assumption by MOLP of all of the Trust's liabilities.
We believe that using an UPREIT structure gives us an advantage in acquiring desired properties from persons who may not otherwise sell their properties because of unfavorable tax results.

UPREIT shall also include (a) any entity or entities controlled by the UPREIT or AHIT and designated by the UPREIT to acquire any of the Contributed Interests, and (b) any directly or indirectly wholly owned subsidiary entities of AHIT Northern NM Properties, LLP designated by the limited partnership to enter into agreements relating to real estate or to own real estate for and on behalf of the limited partnership excluding all “Taxable REIT Subsidiaries,” as defined in Section 856(l) of the Code.

UPREIT shall have the meaning set forth in the preamble.

UPREIT shall have the meaning set forth in the recitals hereof.

UPREIT means AHIT Northern NM Properties, LLP, a Maryland limited liability partnership to be formed, and whose sole general partner shall be AHIT and which will be the operating partnership or “umbrella partnership” in AHIT’s umbrella partnership real estate investment trust structure. “UPREIT” shall also include (a) any entity or entities controlled by the UPREIT or AHIT and designated by the UPREIT to acquire any of the Contributed Interests, and (b) any directly or indirectly wholly owned subsidiary entities of AHIT Northern NM Properties, LLP designated by the limited partnership to enter into agreements relating to real estate or to own real estate for and on behalf of the limited partnership excluding all “Taxable REIT Subsidiaries,” as defined in Section 856(l) of the Code.

UPREIT means umbrella partnership REIT; and

UPREIT means a limited partnership which is a Subsidiary of the Borrower formed by the Borrower to function as an umbrella partnership REIT and which becomes a Guarantor hereunder pursuant to Section 7.11.