REIT LBO

A few questions on REIT LBOs. 1) What happens when a company does an LBO of a REIT? Does the REIT maintain its status and continue to pay dividends to the company that bought it, or does it stop paying dividends and start paying taxes?

2) What does a cap stack usually look like in a REIT LBO? Is high-yield debt used like in other companies or are other sources of financing more common for REITs?

Thanks in advance for any help. Appreciate it.

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