We have extensive experience in virtually all aspects of the taxation of real estate transactions. Our practice involves the constant use of partnerships, limited liability companies and other pass-through entities and, accordingly, we have intimate familiarity with the tax aspects of such investment vehicles, and the complex rules governing special allocations and loss limitations. In addition, we have structured and implemented numerous transactions requiring detailed knowledge of the "unrelated business taxable income", "tax-exempt entity leasing" and "original issue discount" rules, as well as the rules governing simultaneous and deferred like-kind exchanges (including multi-party exchanges), installment sales, shared appreciation mortgages, and the merger of partnerships owning multiple properties.