Real Estate

UHY has a history of providing experienced professionals with proven solutions to the real estate industry’s complex business, tax, private and public audit reporting complexities.  Our real estate team combines years of financial experience, along with extensive industry expertise to provide proven business, tax and accounting strategies to:

  • Real Estate Owners and Investors
  • Real Estate Developers
  • Private Real Estate Funds 
  • Real Estate Managers

ASSURANCE AND BUSINESS ADVISORY SERVICES

Our team’s diversity provides a multidisciplinary expertise utilizing a high level personalized UHY service ethic – the kind that earns trust, establishes sound working relationships and creates a solid foundation for future growth. As a result, our national and international resources are dedicated to providing our real estate clients with proactive technical accounting, tax, business and SEC reporting and compliance support that effectively and efficiently address the challenges and opportunities in today’s business environment. Our real estate team provides a comprehensive range of services to the real estate industry including:

  • Audits under U.S and international audit standards of private real estate funds and real estate entities owning commercial office, industrial buildings and multi-family residential real estate properties.
  • Quarterly reviews of real estate and investment funds under standards for interim financial reporting.
  • Review and assess operating effectiveness of key controls relative to quarterly and annual reporting to real estate owners and investors.  
  • Attestation procedures, such as the review and testing of critical controls which allow equity investors to gain a deeper understanding of property manager’s actual accounting practices in certain areas.
  • SOC attestation reports (SOC 1, SOC 2, SOC 3 and SOC for Cybersecurity) providing insights to third-parties regarding internal controls and cybersecurity in place at the service organization. We also assist clients with SOC readiness services to assist them in preparing for a successful SOC attestation.
  • Cybersecurity Risk Assessments to understand the cyber risks real estate organizations are facing along with implementing cybersecurity programs and training employees to effectively manage ever evolving cyber threats.
  • HUD audits of real estate

We are contributors and reviewers of the AICPA Audit Risk Alert for The Real Estate and Construction Industry. 

TAX PLANNING AND COMPLIANCE SERVICES

  • Expertise in real estate deal structuring, tax minimization, cost segregation and other tax planning and compliance matters.  Consulting regarding acquisition and sale of properties.
  • Advise on the organizational structure of providing preferred returns and a return of capital to equity investors, a structured or performance incentive fee for the managers including preparation of numerous returns utilizing this structure.
  • Work with tax exempt and foreign investors and the tax complexities associated with those equity investors.
  • Review and advise on partnership income and loss allocations, operating cash flow distributions, foreign and state withholding requirements, capital distributions and the applicable reporting requirements. 
  • Assist in structuring like- kind exchanges of real property.

TRANSACTIONAL SERVICES

  • Acquisition due diligence and financing.
  • Financial modeling for developers to attract equity and debt funding.
  • Calculation and review of waterfall and promote provisions in operating agreements.
  • Purchase price allocations, impairment of goodwill and intangible assets with indefinite lives and strategic investment analysis.
  • Lease Consulting.