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DLA Piper Becomes First Law Firm To Join Reita

by Robin Pilgrim,, London

17 January 2007

DLA Piper on Tuesday confirmed that it has become the latest member of Reita, the educational and awareness campaign behind the website.

DLA Piper becomes the first legal firm to join the REITs campaign group. The law firm has the largest real estate group globally, which incorporates an international investment practice acting for a variety of clients including REITs, funds, asset managers and other institutional investors across multiple jurisdictions.

33 companies are now members of the Group, which was established to raise awareness and understanding of Real Estate Investment Trusts (REITs) introduced in the UK earlier this month; funds that invest in REITs and investment opportunities in UK listed property companies.

The Group now includes nine of the biggest quoted property companies – some of which have already converted into a REIT and others that are likely to maintain their current structure – ten of the leading fund managers, the London Stock Exchange, ten merchant banks and advisers, DLA Piper, the British Property Federation and the Investment Property Forum.

Dave Butler, project director of The REITs and Quoted Property Group (Reita), observed of the law firm's new membership of Reita:

“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. Following the launch of REITS earlier this month, interest in the campaign is growing fast now and we welcome the intellectual capital that this new partner will bring to the team.”

Paul Jayson, a partner in the Investment Practice at DLA Piper, added:

“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."

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