New Mixed Use Development in Nashville
The company plans to file a request for a multi-building, mixed-use development with Metro in the near future. The company has primarily served the health care industry, but hopes to attract a mixture of tenants with this new development. Health Care REIT's vice president stated, "We believe there is an opportunity to create something exciting in this central location.”
REIT is a type of corporate entity for real estate investment that reduces corporate income taxes. However, they are required to pay their investors 90% of income, which then becomes taxable. The REIT structure was designed to provide a way to invest in real estate similar to the way mutual funds provide an investment structure for stocks. REIT's can be privately or publicly held.