UK Reits And The Channel Islands Securities Exchange

In this briefing we focus on the changes to the UK Real Estate Investment Trust (REIT) regime introduced by the UK Finance Act 2012 and the way in which Jersey companies and the Channels Islands Securities Exchange (CISE) may be used to facilitate REIT structures. Since the relaxation of the UK REIT regime, Bedell Cristin has acted as Jersey counsel and/or CISE listing sponsor in relation to the majority of new REITs that have been listed on the CISE.

Executive summary

–    The changes introduced by the UK Finance Act 2012 have encouraged the formation of a number of new REITs, including REITs which would not have met the qualifying conditions under the old regime, such as joint venture and captive REITs and REITs formed for the purpose of making specific asset and portfolio acquisitions.