Kaye Scholer, in association with CONNOS, Houlihan Lokey, and Sal. Oppenheim, will co-host a workshop series in Hamburg and Munich, Germany on August 23 and September 25, 2012 respectively. Martin Weger (Co-Managing Partner, Frankfurt Office) and Thomas A. Jesch (Counsel, Frankfurt Office) will deliver a presentation on the regulatory and tax environment for German real estate fund sponsors in the post-AIFMD age. The implementation of this EU Directive in Germany will potentially lead to the abolition of the open-ended real estate fund vehicle, a widely-used structure for investments of, e.g., insurance companies.
The co-hosts’ presentations will focus on real estate valuation (Houlihan Lokey), operative and IT requirements (CONNOS), and the depositary requirement (Sal. Oppenheim).
Michael Sehm of fund sponsor DSR Deutsche Investment KAG will deal with risk management under AIFMD. The CEOs of Hamborner REIT AG and Fair Value REIT AG (two of the just four existing German REITs) will present on the advantages of the G-REIT structure (a possible alternative to the open-ended real estate fund).
September 25, 2012