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What is the difference between a REIT and a Non-REIT location?

This article explains the difference between a REIT and a Non-REIT location and where to find the breakdown of procurement categories.

The Studio coworking operation consists of a primary and a secondary business:

  1. Primary (TRS): Squad business, offering private office spaces in a shared floor
  2. Secondary (Property): Hot Desk business, offering memberships to access non-private space

The ownership structure of the businesses depends on whether the property is in a REIT:

  1. Non-REIT Assets: both are owned and operated by Landlord
  2. REIT Assets: the secondary Hot Desk Business is owned and operated by the TRS, which generates a minority share of the business’ revenue; this separation is created to maintain the REIT status of the Landlord’s beneficial owners

You can find out which your location is by visiting Airtable (be sure to use your site specific log on).

If you are a REIT and need help figuring out which procurement categories are Primary vs. Secondary, you can go here for a breakdown.

 

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