Ireland should look to examples in the U.K. and France for how to establish a best-in-class REIT regime model, said the chief executive of the European Public Real Estate Association at a conference in Dublin. REITs in these countries "play a major role in contributing to their local economies through job creation, providing accommodation for businesses, investments in improving the urban environment, and adopting cutting edge environmental standards and technologies in their buildings," said Philip Charls. Ireland's 2013 budget will include a provision for the establishment of Irish REITs.
Weyerhaeuser is feeling very good about the housing recovery, said CEO Dan Fulton. "We're benefiting from the recovery in the U.S. housing market, but we also export products all over the world." Fulton said that the REIT's "substantial timberlands" on the West Coast allow it to easily ship logs to Asia.
The commercial mortgage-backed securities market and collateralized loan obligations drew more attention from investors last week than the U.S. asset-backed securities market due to their higher yields. Leading the way was a $2.52 billion transaction from Extended Stay. This was the largest CMBS deal since the credit crisis.
REIT regulations in Kenya have been finalized and submitted to the finance minister. The minister will gazette them before his term ends, according to Capital Markets Authority's acting chief executive Paul Muthaura.