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greg schenk

Carried Interest Tax Issues - Audio


Gregory Schenk, SIOR

The Schenk Company


  • Greg Schenk, SIOR, The Schenk Company
  • Warren Samek (Venture Capital - SV Partners, Commercial Title - Fidelity, Seattle)
  • Bob Schecter (Developer - DMI, Southern Florida)
  • JW Najarian (Founder CREPIG, CoFounder - CREDAA, CEO Emerald Bay Investments)

Discussion about new legislation that could not only effect hedge fund managers but also commercial real estate investors. It is said that the tax hike could discourage investment, cause significant fee hikes and overall hurt an industry that is already experiencing an almost non-existent recovery.

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Gregory P. Schenk, SIOR
President and Founder of The Schenk Company, Inc.

Greg is the president and founder of The Schenk Company, Inc., Central Ohio’s only exclusive tenant/buyer representative brokerage and consultation firm. Greg has 24 years of experience in the real estate industry ranging from representing tenants and buyers in relocations, as well as assisting clients in negotiating commercial space.

Greg is dedicated to increasing education about the commercial real estate industry and how all professionals can prosper in it. He teaches Tenant Advisory seminars and Webinars to a variety of professional associations, as well as to attorneys, bankers, accountants and other professionals.

Greg has achieved the highly sought after SIOR designation as one of the leading brokers in the country, and has completed the entire CCIM curriculum pertaining to investment analysis and acquisition.

Greg is on the advisory council for the Center for Real Estate at The Ohio State University, the past Co-Chairman of the SIOR tenant advisory services group, and attends numerous national conventions around the world. He has presented to numerous organizations such as the NAR, BOMA, Coldwell Banker Commercial, Costar, Oncor, CREW and many other national conventions. He is also one of the featured speakers for the 2010 NAR Realtor® Commercial Alliance Signature Series that teaches and trains agents nationally.

Greg was an Evans Scholar at The Ohio State University with a degree in Business Administration and a major in Marketing. He is very creative with solutions for his clients’ problems, and provides smart, strategic, short and long range planning in order to assist his clients in achieving their goals and improving their bottom line.

Comment by JW Najarian on July 6, 2010 at 2:52pm

Just received a note from Greg on the Carried Interest Vote:


The Senate cloture vote to end debate on HR 4213-- American Jobs and Closing Tax Loopholes Act of 2010 or better known as the Extender Package, failed by a vote of 57-41. This is the Senate's third unsuccessful attempt this month to limit debate and move to an up or down vote on a bill that includes the tax increase on Carried Interest as a revenue off-set. The Senate Leadership will likely set aside the legislation for now. Moving forward, it is unclear when it will revisit the Extenders Package or how they will address Carried Interest in the future.

Thanks to all who called and wrote their senators and representatives in this effort. However, while we may have won the battle, the war is not over. We expect Congress to address this issue once more before the year is over, and we will likely call on you to express your opposition to this ill-advised tax policy. In the meantime, the commercial real estate industry will continue working to educate policymakers on the broad, negative impact that such tax proposals would have on real estate, job creation and economic growth.

Best Regards,

Richard

Richard E. Hollander, SIOR, FRICS
SIOR | Executive Vice President
1201 New York Ave., NW, Suite 350
Washington, D.C. 20005-6126
Telephone: 202.449.8202
rhollander@sior.com | www.sior.com

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