Real estate transaction methods are disclosed to allow holders of tenancy in common (TIC) property interests to convert such interests to real estate investment trusts (REIT) holdings. Such methods comprise a conversion of TIC property interests to REIT status through an UPREIT process, a DOWNREIT process and a process to accommodate a 1031 Exchange whereby at some point in the future a TIC interest is converted to REIT holdings through either an UPREIT or DOWNREIT transfer.