CR Capital Real Estate is set to become the third real estate investment trust in Germany after it was granted pre-REIT status by the Federal Central Tax Office with retroactive effect from 5 January 2009. Alstria Office REIT and Fair Value obtained the REITstatus in 2007.
CR Capital Real Estate is set to become the third real estate investment trust in Germany after it was granted pre-REIT status by the Federal Central Tax Office with retroactive effect from 5 January 2009. Alstria Office REIT and Fair Value obtained the REITstatus in 2007.
'On the operating level, we are anticipating that the pre-REITstatus will bring us advantages in acquiring new properties. CR Capital would like to make active use of the current market situation in order to expand its portfolio. Therefore, we are currently scanning the market for interesting properties generating good returns', explained Thomas Ehrich, CEO of CR Capital Real Estate.
CR Capital Real Estate, founded in May 2008, is a real estate company whose core business is the acquisition, portfolio management, development and sale of high-quality residential and commercial properties. The company operates in the Berlin metropolitan area. Its goal is to achieve sustained and profit-oriented growth with a balanced property portfolio, with REITstatus being targeted for 2010. Since October 2008, CR Capital Real Estate AG has been listed in the Open Market on the Frankfurt Stock Exchange.
