Question about filing regulations for a NYC fund and REIT ownership filings

[Titan]

Hi fellow COBFers,

 

I have 2 questions to do with filing regulations. I'm asking this for a friend that's a manager.

 

First, is anyone knowledgeable about regulatory things for NYC investment firms. If so, could you provide any insights on filing requirements in New York state once you pass $25mm in AUM. I was wondering if it’s better to file a limited ADV vs. registering the fund.

 

Second, does anyone know filing requirement if you own over 1% of a REIT? Do you have to provide information about ownership to the REIT?

 

If anyone has any insights to these things or where to look, thank you!

 

Titan

[Gregmal]

I don't think there is anything on the REIT disclosures. Ive previously gone as high as about 4.5% and currently have 2 that are between 1-3%. Never filed anything or been told Ive had to. My understanding for REITs is they need to have the 5/50 thing down, but that would be an obligation of the company and its agent in order to validate the tax status, should they get audited.

[Guest cherzeca]

I don't think there is anything on the REIT disclosures. Ive previously gone as high as about 4.5% and currently have 2 that are between 1-3%. Never filed anything or been told Ive had to. My understanding for REITs is they need to have the 5/50 thing down, but that would be an obligation of the company and its agent in order to validate the tax status, should they get audited.

 

all REITS have language to effect that if one goes over 5% then "twas never thus"...shares held in suspense.  never challenged so cant say if legally enforceable

[Titan]

Gregmal & Cherzeca,

 

Thank you for the replies on the REIT question. It's very helpful!

 

Titan