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Carried Interest

A carried interest – or “the promote” as it is often referred to in the real estate context – is the risk-based partner’s portion of the capital gain from the sale of a real estate development. The carried interest is the contractually agreed-upon share of the final proceeds associated with the project that the developer may receive after the investors have been paid their promised rate of return. It is not guaranteed and is justified based on the real risks associated with creating a successful shopping center, including recourse on debt, potential lawsuits, unforeseen environmental remediation, permitting delays and tenancy guarantees. ICSC opposes proposals to change the tax treatment of carried interest.


Urge Congress to Oppose a Tax on Carried Interest


Take Action 

Carried Interest in Retail Real Estate, view here.

Carried Interest Case Study, view here.

Real estate industry tax statement – House Ways & Means Committee Hearing, 05.19.2021​

Real estate industry tax statement – Senate Finance Committee Hearing, 05.18.2021

NREO letter to Congress regarding H.R. 1068 – U.S. Congress, 06.14.2021

For more information, contact:

Phillips Hinch

Vice President, Tax Policy

+1 202 626 1402

phinch@icsc.com