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Harry Cendrowski is a partner at Prosperity Partners. In 1992 his firm created the first UPREIT (Umbrella Partnership Real Estate Investment Trust). It was developed as a solution to address tax challenges faced by property owners when contributing appreciated real estate to REITs. Specifically, the UPREIT structure allowed property owners to defer capital gains taxes by exchanging their properties for Operating Partnership (OP) units rather than selling them outright, which would trigger taxable events. 

I'm Moshe Crane connect with me on LinkedIn. My day job is the VP of Branding and Strategic Initiatives at Sage Ventures. Check out my newsletter Zag.

Sage Ventures is a commercial real estate firm based in Baltimore, MD. The company buys and operates multifamily rental properties. The company also builds and develops homes that we sell.