BIOS Building Technologies LLC. Is Creating a Real Estate Investment Trust to Finance Green Living Centers and Zero Energy Tiny House Developments in the State of Connecticut & Around the World.
The Bios Center Promotes Green, Healthy, Holistic, Organic, Sustainable & Energy Efficient Living. We Empower People To Change With Real Estate, Construction, Finance & Educational Services. You can learn more at http://BiosCenters.com
Our Goal $500,000,000
Office Suites: The BIOS Centers provide a nurturing office suite concept. Professionals are able to do what they do best and let experts handle the rest. Tenants of the center can become owners in the building buy purchasing stock in The BIOS Center REIT. Doctors treat patients, accountants handle billing through a centralized system; real estate professionals manage the properties. Construction and real estate development is handled in house. Doctors, artists, builders, realtors and financial professionals work together to build facilities that help people, save the planet and boost the economy.
Zero Energy Tiny House Developments: A second REIT is being established to develop ZERO ENERGY TINY HOUSE villages that provide truly affordable housing for people of all ages, more on this later.
The following offers a general summary of the basic tax law requirements applicable to REITs. To qualify as a REIT, we must meet a number of organizational, operational, distribution and compliance requirements.
The BIOS Center REIT is being formed in the State of as a corporation. We are now recruiting and interviewing members for our board of directors. Shares will be transferable. Beginning with its second taxable year, The BIOS Center REIT must meet two ownership tests: it must have at least 100 shareholders (the “100 Shareholder Test”) and five or fewer individuals cannot own more than 50 percent of the value of the REIT’s stock during the last half of its taxable year (the “5/50 Test”).
To ensure compliance with the above tests, The BIOS Center REIT will have a percentage ownership limitation that will not allow a single shareholder to own more than 9 percent of the REIT’s stock. Due to the need to have 100 shareholders and the complexity of both of these tests, The BIOS Center is also forming a team with legal, tax and securities experience before forming the REIT.
This is a simple outline that will be added to daily we hope to peak the interests of others that have similar interests. If that is you please call Steve Schappert at 203-994-3950 or email StephenSchappert@gmail.com
Below is a list of contacts that we will be following up with next week we hope to add some Connecticut firms as well
Examples of Law Firms with REIT expertise:
Alston & Bird LLP
Goodwin Procter LLP
Gilbert G. Menna
Greenberg Traurig, LLP
Judith D. Fryer
David W. Bonser
King & Spalding LLP
Anthony W. Rothermel
Locke Lord LLP
Bryan L. Goolsby
Examples of Accounting Firms with REIT expertise:
Robert T. O’Brien
Ernst & Young LLP
Grant Thornton LLP
Gregory E. Ross
Examples of Investment Banking Firms with REIT expertise
BMO Capital Markets
Greenhill & Company, LLC
Richard J. Lieb
Thomas A. Grier
RBC Capital Markets
UBS Securities LLC
Duff & Phelps
Green Street Advisors
Jones Lang LaSalle
Thomas E. Griffin
Joseph T. Downey
Please note that the discussion set forth above is for informational purposes only and is not intended to constitute legal or tax advice. Since the formation and operation of a REIT involves many complex legal, securities, tax and accounting rules, we strongly advise you to seek professional advice from competent attorneys, accountants and other advisors prior to beginning the process of forming a REIT. Since we are not providing legal advice through this Web site, you should not rely upon any information contained herein for any purpose without seeking legal and/or tax and accounting advice from a duly licensed attorney or tax practitioner.