Arlington Asset Investment Corp. to adopt REIT status

Arlington Asset Investment Corp. has approved a plan for the company to qualify as a REIT for the company’s taxable year ending Dec. 31, 2019.

“With the expectation that Arlington would utilize its net operating loss carry forwards as a C-corporation in 2019, the board of directors believes that the company’s plan to elect to be taxed as a REIT is the best long-term tax structure for both Arlington and its shareholders,” commented J. Rock Tonkel Jr., the company’s president and CEO.  “Remaining tax loss carry forwards upon REIT conversion will continue to be available to the company as a REIT.  The company also does not anticipate any significant modifications to its operations or investment strategy to qualify as a REIT.”

In connection with the company’s expected election to be taxed as a REIT, the company’s board of directors has received a legal opinion from Hunton Andrews Kurth regarding the company’s ability to qualify as a REIT commencing with the company’s taxable year ending Dec. 31, 2019.