Venable partner Christopher W. Pate was quoted in a June 24, 2015 Law360 article on the recent push within the nontraded REITs market to fast track liquidity events and the issues such moves raise. Pate was a panelist at the Information Management Network's New York Non-Traded REIT & Retail Alternative Investment Symposium.
"REIT-side counsel must take careful note of certain issues, such as how and when to amend a charter for a trust that is going public," said Pate. Of the recent listings he has seen, Pate said, "half of them have amended [their] charter beforehand, and the other half have amended them afterwards because...you don’t want to hold [the listing] up by getting a vote to amend the charter."