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Some senior housing non-traded real estate investment trusts (REITs) may have won a regulatory victory. After much anticipation, worry and outcry from industry, the Department of Labor (DOL) released its finalized version of its new fiduciary rule, with major changes that spell good news for REITs.
The rule has long been touted by the Obama administration as part of a push to increase retirement savings, transparency and financial accountability for Americans.
One of the most maddening parts of the proposed rule for many in the industry was a list of asset types—including non-traded REITs—that would have been restricted from retirement accounts. Under the new version of the rule, which was revealed earlier this month, non-traded REITs will still be subject to the fiduciary rule, though the list of asset types that were initially restricted has been eliminated.
