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Sarah Wellings was interviewed for a video segment titled "Sullivan & Worcester Partner Sees TRS Structure as Simpler, More Flexible Alternative for REITs," published by Nareit on April 27, 2026. The conversation was recorded at Nareit’s REITwise: 2026 Educational Conference in Hollywood, Florida, held March 24-26.

In the interview, Sarah outlined key operational risks REITs face with taxable REIT subsidiaries (TRSs), emphasizing that using TRSs can simplify compliance compared to relying on independent contractors for non-customary services and can help mitigate tax exposure on asset transfers. She also highlighted the importance of robust transfer pricing documentation and noted that while technology is improving compliance, implementation and user adoption challenges persist.

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