DLA Piper has confirmed that they have become the latest member of Reita, the educational and awareness campaign behind the reita.org website.
DLA Piper has become the first legal firm to join the Real Estate Investment Trusts campaign group.
It has 3,200 lawyers in 62 offices in 24 countries, and incorporates an international investment practice acting for a variety of clients including REITs, funds, asset managers and other institutional investors across multiple jurisdictions.
Some 33 companies are now members of the Group, which was established to raise awareness and understanding of REITs, which were introduced in the UK earlier this month.
The Group now includes nine property companies, some of which have already converted into a REIT and others ten fund managers, the London Stock Exchange, ten merchant banks and advisers, legal firm DLA Piper, the British Property Federation and the Investment Property Forum.
Dave Butler, project director of the REITs and Quoted Property Group, says: We are delighted to have DLA Piper on board. They are a very influential firm and Reita will benefit enormously from their input and expertise.
Paul Jayson, a partner in the Investment Practice at DLA Piper, says: The real estate market is rapidly evolving. Legislative changes, diversification of investors and market demands are creating unprecedented challenges and opportunities for those operating in the sector.
“We are very pleased to be the first law firm to join Reita. We look forward to being part of a group that is already widely recognised and helping shape this rapidly changing sector.