After a grueling global economic crisis, the European listed property market has stabilized, says Philip Charls, CEO of the European Public Real Estate Association. But the biggest story for the real estate industry across the Atlantic, he says, is the potential that the German market offers. Many retail investors are becoming disenchanted with the open-ended funds that have typically been pushed in Germany by banks. "In the downturn, they had great difficulty because people wanted their money out but they closed the funds and no redemptions were possible." EPRA is in conversations with German government officials to demonstrate that REITs are a viable and attractive alternative.
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