SEC - Updated guidance for reporting real estate acquisitions 

February 10:  The SEC staff revised guidance in its Financial Reporting Manual (FRM) to explain when a registrant needs to file audited financial statements for acquired real estate properties.

In addition, Rule 3-14 financial statements are now required for acquisitions of properties subject to triple net leases that are at least 10% significant to a registrant but less than 20% significant.

Generally, the revised guidance would reduce the volume of real estate financial statements that must be filed by registrants that are active in the real estate industry, particularly real estate investment trusts (REITs).

Read a February 2014 report [PDF 216 KB] prepared by KPMG LLP: Defining Issues: SEC Updates Guidance for Reporting Real Estate Acquisitions

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