The Japanese company, which had been acting like an owner, is now a passive investor.

As passive investors there was little they could do.

Prior to 1986, much real estate investment was done by passive investors.

"They don't want to be a passive investor," he said.

Once these managers part with their funds, they become passive investors.

In its filing, the partnership said it did not consider itself a passive investor.

But over the long term, they are expected to make it more difficult for corporations to remain passive investors.

There are several exceptions to the 500-hour rule, but none of them leave an opening for passive investors.

"They tried to make passive investors out of us," she said.

"They had no intention of remaining passive investors," this person said.