Brussels-listed real estate firm Befimmo has become a B-REIT, a new designation that limits exposure to rules imposed by the Alternative Investment Fund Managers Directive (AIFMD).
Brussels-listed real estate firm Befimmo has become a B-REIT, a new designation that limits exposure to rules imposed by the Alternative Investment Fund Managers Directive (AIFMD).
Previously a SICAFI (the existing Belgian REIT format), the change of status was approved by a majority of Befimmo shareholders (99%) at an extraordinary general meeting held this week.
‘As a public B-REIT, Befimmo will continue to pursue its operational activities as a REIT (real estate investment trust) within a legal framework that corresponds to the reality of business,’ the firm said.
Befimmo has been leading Belgian REITs' response to AIFMD rules. Earlier this month, CFO Laurent Carlier said: ‘We are convinced that most Belgian REITs will adopt the new corporate statute, which will allow Belgian REITs to stay on ‘a level playing field with the other European REIT regimes.’
