Venable partner Patsy McGowan was quoted in a November 16, 2015 Law360 article on the recent decision by Macy's and McDonald's not to spin off certain assets into real estate investment trusts (REITs). A number of liabilities and uncertainties likely led to the decision bucking a trend by other retailers and restaurant chains.
"With the way their real estate was set up, it wasn’t as advantageous for them. It would have been a complicated spinoff for them," said McGowan, commenting specifically on McDonald's. "I know that other companies are considering them now. It just depends on the type of assets and the current real estate structure, and whether it makes sense."