Italy is moving forward with legislation to introduce real estate investment trusts (REITs). An amendment of the Finanziaria, the State annual financial budget, contains the first official draft of the legislation, Italian media sources have reported. The draft will be presented for discussion in the Senate by Italian deputy Economics minister Vincenzo Visco.
German-listed real estate company Branicks Group has sold a retail property in Bremen city centre to municipal urban developer Brestadt for €37.2 mln.
