The British government has eased the entry rules for new companies seeking to become real estate investment trusts (REITS) when the enabling legislation comes into force next January. The concession by chancellor Gordon Brown is a response to bitter objections voiced by property professionals to the original framework. Stricter rules applying to joint-venture schemes have been relaxed.
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.
