Town Centre Securities has become the 17th UK property company to convert to a tax-friendly real estate investment trust (REIT) in the UK. The shareholders of the Leeds-based company approved new articles of association at an Extraordinary General Meeting on 1 October 2007 and HM Customs and Revenue accepted the conversion the following day.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
