what is an upreit 
upreit means umbrella partnership real estate investment trust an upreit is a unique reit structure that allows property owners to exchange their property for share ownership in the upreit however upreits are generally subject to internal revenue code irc section 721 exchanges 1understanding upreitsreal estate investment trusts reits were introduced by dwight d eisenhower as a type of alternative real estate mutual fund 2 reits are created as a type of real estate portfolio that includes real estate properties and real estate financing capital reits are an entity that allows investors to make investment contributions for equity units or shares of the business as reits have evolved in the market some alternative structures have been developed to provide for different types of investors the upreit is one such structure primarily known for its allowance of property contributions in exchange for share ownership the downreit and some other alternatives have also been created as offshoots in their formation reits can choose to take on any type of business structure publicly traded reits will be structured as corporations private reits will generally choose to be structured as a trust or association though they may also choose other statuses like most non corporations private entities also have the option to be taxed as a corporation 