PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Spanish RE funds consider REIT status despite investor opposition
Spanish property fund managers are seriously considering the option to convert to Real Estate Investment Trust status and listing on the stock market in the fairly near future, but many large investors are unhappy at the prospect. Treasury Director Soledad Nuñez recently intimated in a public meeting that the new REIT legislation, expected to become law shortly, is likely to include the possibility for property funds (Fondo de Inversión Inmobiliario, FII) to convert to REIT status. However investors fear that by converting to REIT/SOCIMI status they will suffer a loss in the value of holdings since listed real estate is currently quoted at a discount to valuations of direct property or the FII funds.