http://www.businessweek.com/news/20...age-reits-to-help-cut-leverage-nama-says.html
This reminds me of the "shares in a wrapper/basket of portfolios" product that Anglo-Irish produced at the start of the Noughties.
Shortly afterward I seem to recall that then Finance Minister Brian Cowen moved to close the loophole.
At the time it seemed like another way for investors to make money out of a rising property market but avoiding the payment of Capital Gains Tax.
I'm not certain of the ultimate benefit to the taxpayer.
This reminds me of the "shares in a wrapper/basket of portfolios" product that Anglo-Irish produced at the start of the Noughties.
Shortly afterward I seem to recall that then Finance Minister Brian Cowen moved to close the loophole.
At the time it seemed like another way for investors to make money out of a rising property market but avoiding the payment of Capital Gains Tax.
I'm not certain of the ultimate benefit to the taxpayer.