Dawn of the G-REIT era as the starting signal for SMEs
by Angela Haupt
Who will be the first REIT? What dimensions will the segment have attained by the end of the year? Since the adoption of the REIT law at the end of March, the real estate industry seems to have been concerned with these questions in particular. In this process, sight is being lost slightly of the fact that a fundamental upheaval is being initiated on the entire market. The players and rules of the game are changing, and new structures are required from companies in the real estate sector, irrespective of whether they themselves become a REIT or not.
For with the introduction of Real Estate Investment Trusts in Germany, the internationalisation and professionalisation of the German real estate market is being raised to a new level. The effects of this will be felt at all levels and in all segments.
The decisive factor for development is the increased commitment of globally active institutional investors on the German market. This collective term covers institutional investors, in particular insurances and pension funds. These investors, primarily those from the Anglo-Saxon region, today invest sums in the two-digit trillion range.
Their investment decisions fall under the primacy of risk diversification. Real estate and in particular REITs with their specific profile consisting of yield and risk are growing in popularity.
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