prohibited transaction
(C)For purposes of this part, the term “prohibited transaction” does not include a sale of property which is a real estate asset (as defined in) if— (i)the trust has held the property for not less than 2 years; (ii)aggregate expenditures made by the trust, or any partner of the trust, during the 2-year period preceding the date of sale which are includible in the basis of the property do not exceed 30 percent of the net selling price of the property; (iv)in the case of property, which consists of land or improvements, not acquired through foreclosure (or deed in lieu of foreclosure), or lease termination, the trust has held the property for not less than 2 years for production of rental income; and (v)if the requirement of clause (iii)(I) is not satisfied, substantially all of the marketing and development expenditures with respect to the property were made through an independent contractor (as defined in) from whom the trust itself does not derive or receive any income or a taxable REIT subsidiary.