Our Mission

Learn who we are and how we serve our community


Meet our leaders, trustees and team


Developing the next generation of talent


Covering the latest news and trends in the marketplaces industry

Industry Insights

Check out wide-ranging resources that educate and inspire

Government Relations & Public Policy

Learn about the governmental initiatives we support


Connect with other professionals at a local, regional or national event

Virtual Series

Find webinars from industry experts on the latest topics and trends

Professional Development

Grow your skills online, in a class or at an event with expert guidance

Find Members

Access our Member Directory and connect with colleagues

ICSC Networking Platform

Get recommended matches for new business partners

Student Resources

Find tools to support your education and professional development

Become a Member

Learn about how to join ICSC and the benefits of membership

Renew Membership

Stay connected with ICSC and continue to receive membership benefits


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