Fund manager Deutsche Capital Management (DCM) may become the first company to float a German real estate investment trust (G-REIT), Financial Times Deutschland reported, citing unidentified people from the banking industry. The German lower house of parliament, Bundestag, passed legislation last week to introduce the investment vehicle and the final hurdle for the G-REIT will be in the upper house, the Bundesrat, on 30 March.

Fund manager Deutsche Capital Management (DCM) may become the first company to float a German real estate investment trust (G-REIT), Financial Times Deutschland reported, citing unidentified people from the banking industry. The German lower house of parliament, Bundestag, passed legislation last week to introduce the investment vehicle and the final hurdle for the G-REIT will be in the upper house, the Bundesrat, on 30 March.

DCM will reportedly place properties valued at up to EUR 1bn in a G-REIT by June. The company is planning 'soon' to present investors with the opportunity to exchange their stake in property funds for shares in the REIT, the daily said. Deutsche Bank, Morgan Stanley and Ernst & Young have been appointed to manage the initial public offering.