Crown Castle International announced yesterday that they began operating as a Real Estate Investment Trust (REIT) on January 1, 2014. Crown Castle received an opinion dated December 31, 2013 from each of Skadden, Arps, Slate, Meagher & Flom LLP and Cravath, Swaine & Moore LLP, which firms advised Crown Castle on its REIT conversion, that Crown Castle will qualify as a REIT as of January 1, 2014. According to the company, “Crown Castle expects to take certain steps and corporate actions in 2014 in order to facilitate continued operation as a REIT, which may include seeking adoption of certain charter provisions that implement certain standard REIT-related ownership and transfer restrictions.Continue reading here.
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