CANNES-Are European REITs stuck at the starting gate? The suggestion was made by some at MIPIM here that REIT growth has been “disappointing.” And what will come of the expectation that rather than creation going forward on a country-by-country basis, that a unified, over-arching European REIT structure will emerge?
REIT growth is “progressing slowly,” according to Cofinimmo CEO Jean Carbonelle. “But we have proposed an option for a REIT regime in all European countries.” He is hopeful that it will take effect in “three or four years.”
In the long term, listed entities are “well-positioned,” he says, due to their relatively strong capital raising capability and strong management structures. But he cited such hurdles as low demographic growth and a limited supply of assets, in addition to the volatile market conditions, that restrain REITs from achieving their full potential.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
