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Good stuff!

Way back on 11/18/2010, in the thread announcing your first Rising Star pick pf PEB, you said of PEB's prospective REIT status:

PEB and ROIC also both intend to qualify as REITs. ROIC plans to elect for REIT status for this year; I expect PEB to qualify in 12-18 months.

Am I reading it correctly that they beat that? On page 5 of the 2010 Annual Report, it says:

We have elected to be taxed as a REIT under Sections 856 through 860 of the Code, commencing with our taxable year ended December 31, 2009.

Since the IPO was less than a month before that date it seems to be saying PEB was a REIT from the start. I suppose I am wondering if there is a difference between electing to be taxed as REIT and being officially designated as a REIT.


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