Investment fund vehicles for pan-European real estate: a technical and commercial review

The aim of this paper is to provide a technical and commercial review of pan-European real estate investment fund vehicles, including a summary of their evolution to date, who their promoters and managers are, where the capital comes from and what type of real estate are they investing in. It goes on to provide detailed guidance on commercial aspects relevant in deciding on which type of investment vehicle to choose, the key attributes of the various vehicles and the specific regulatory and tax issues for major investor groups. The paper concludes by offering a view on progress towards future vehicles such as the ‘EuroREIT’. Copyright © 2003 Henry Stewart Publications