Real estate

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Briefings in English - 2011

The German open-ended real estate market is undergoing rapid change. Funds with an aggregate real estate volume of €30bn are closed, and fund managers are under a duty to sell assets. They must sell to generate liquidity – the longer the closure lasts, the more below book value. During closure, there are four phases that provide for different opportunities to sell below book value. Here we explain each phase.

The Soil Contamination Countermeasures Law was amended last year. A recent government report has highlighted the considerable impact of the new amendments. This briefing summarises the key changes under the recent amendments that, among other things, expanded owners’ obligations to conduct contamination investigations and clarified remediation responsibilities. This briefing also assesses the impact of the amendments on real estate transactions, including due diligence. (June 2011)

In this client briefing we explain the law and process of appointment of Law of Property Act receivers. (June 2011)

As a reaction to the liquidity crises of several German open-ended real estate funds, new rules are to be introduced by the Investor Protection and Functionality Improvement Act. The main changes affect redemption, liquidity management, the frequency of asset valuation and the permitted leverage of these funds. (February 2011)

Briefings in Italian - 2011

Consultazione sullo schema di regolamento del Ministero dell’Economia e delle Finanze adottato in esecuzione dell’art. 32 del Decreto Legge 78/10. (April 2011)

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