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Rise Of The REITs In Europe, As The U.K. And Germany Plan Real Estate Investment Trusts Apr 06
Standard & Poors, April 2006
Abstract
The likely introduction of real estate investment trust (REIT) regimes in the U.K. and Germany over the coming year represent landmark events in the European real estate market, as these are by far two of the largest markets in Europe. This is expected to significantly increase the number of listed real estate companies in Europe, which will increase alternative real estate investment opportunities for individuals and institutional investors. The establishment of tax-efficient REIT-type regimes in Europe is nothing new, however. The Netherlands introduced its fiscale beleggingsinstelling in 1969, and other countries in Central and Southern Europe have been early adopters. Standard & Poor's Ratings Services already rates seven European real estate companies operating on a tax-exempt basis under REIT regimes....
Companies mentioned in this report are: Unibail-Rodamco,Societe Fonciere Lyonnaise S.A.,Jones Lang LaSalle Inc.,Klepierre S.A.,Derwent London PLC,Cofinimmo S.A./N.V.,Gecina,Befimmo S.C.A.,Rodamco Europe N.V.,Regus Group PLC
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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