April 4, 2025
Harry Cendrowski, Partner at Prosperity Partners, was recently featured on The Most Curious Person in Multifamily, a podcast hosted by Moshe Crane.
In this insightful episode, Harry discusses the origin of the first-ever UPREIT (Umbrella Partnership Real Estate Investment Trust)—a groundbreaking tax structure his firm developed in 1992. Designed to help property owners defer capital gains taxes, the UPREIT allows owners to contribute appreciated real estate to REITs in exchange for Operating Partnership (OP) units, avoiding immediate taxable events.
Harry’s conversation with Moshe explores the innovation behind the UPREIT structure and its lasting impact on commercial real estate and tax strategy.
Click here to listen to this episode on Spotify.
For those in the multifamily, real estate, or tax planning space—this is a must-listen.