Germany's lower chamber, the Bundestag, approved the introduction of the German real estate investment trust (G-REIT) on Friday. Now the final hurdle for the G-REIT will be in the upper house, the Bundesrat, on March 30. At this stage, however, no further changes are expected to the legislation, which will be effective retroactively as of January 1, 2007.
Private asset management company Kryalos has completed the acquisition of a light industrial property in Rome, through its Mars fund.
