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How 721 UpREITs Work

COVER 721 UpREIT Guide

Understanding a 721 Exchange (UpREIT)

A 721 Exchange, also known as an UpREIT, allows investment property owners to contribute real estate to a REIT for Operation Partnership (OP) units, offering tax deferral, liquidity and diversification. Unlike 1031 Exchanges, it converts property into REIT shares, providing access to institutional grade investments. Non-institutional owners can participate by first using a 1031 Exchange into a DST property, then moving to REIT via a 721 Exchange.

Inside the guide, you’ll learn the key benefits of a 721 Exchange:

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