Why CyrusOne Is Targeting an IPO As REIT

Why is it that Carrollton-based datacenter operator CyrusOne filed for an IPO in August--but not as a typical tech IPO, as a real estate investment trust (REIT)? An article today in the Wall Street Journal talks about how technology companies like CyrusOne--including fellow data center firm Equinix--have been taking advantage of the tax treatment of REITs to reduce their corporate taxes. CyrusOne, like many data center operators, owns a large portion of its assets in the form of those actual data center properties.