German property company Alstria Office is in line to become the first German real estate investment trust as it plans to convert to the tax-friendly status by the end of 2007. Ceo Olivier Elamine said attaining the status is a priority for the company as he is convinced by the long-term attractiveness of the G-REIT regime. 'We expect the conversion to take place in 2007 as planned,' he added. Alstria's total revenues from rental income amounted to EUR 39 mln for the first six months of the year.
German property company Alstria Office is in line to become the first German real estate investment trust as it plans to convert to the tax-friendly status by the end of 2007. Ceo Olivier Elamine said attaining the status is a priority for the company as he is convinced by the long-term attractiveness of the G-REIT regime. 'We expect the conversion to take place in 2007 as planned,' he added. Alstria's total revenues from rental income amounted to EUR 39 mln for the first six months of the year.
