8875 Comment

OFFICERS Chair Hamid R. Moghadam AMB Property Corporation President and CEO Steven A. Wechsler First Vice Chair David E. Simon Simon Property Group Second Vice Chair R. Scot Sellers Archstone-Smith April 19, 2004 Treasurer Christopher J. Nassetta Host Marriott Corporation HAND-DELIVERED AND E-MAILED BOARD OF GOVERNORS Andrew M. Alexander Weingarten Realty Investors Mr. Glenn Kirkland Thomas F. August Prentiss Properties Trust Internal Revenue Service Thomas D. Bell, Jr. Cousins Properties Incorporated Room 6411, 1111 Constitution Avenue, NW Bryce Blair AvalonBay Communities, Inc. Washington, DC 20224 David C. Bloom Chelsea Property Group, Inc. K. Dane Brooksher Re: Form 8875, Taxable REIT Subsidiary (“TRS”) Election ProLogis John Bucksbaum General Growth Properties, Inc. Debra A. Cafaro Dear Mr. Kirkland: Ventas, Inc. Richard J. Campo Camden Property Trust This letter is submitted on behalf of the National Association of Real Estate Thomas A. Carr ®CarrAmerica Realty Corporation Investment Trusts (“NAREIT”) pursuant to a request by the Internal Revenue Terry M. Considine AIMCO Service for comments on Form 8875, Taxable REIT Subsidiary (“TRS”) Election. Arthur M. Coppola The Macerich Company NAREIT is the national trade association for U.S. real estate investment trusts Thomas J. Corcoran Jr. (“REITs”) and other publicly traded real estate companies. Members include FelCor Lodging Trust Incorporated Edmund B. Cronin, Jr. ...