BPF Spotlight Series: REESA

For this week's BPF Spotlight we catch-up with our Chief Executive Melanie Leech to find out more about the Real Estate Equity Securitization Alliance.

Not heard of it before? Read on to learn more about the alliance and how the BPF works with our international equivalents.

❓ What is REESA?

🗣 The Real Estate Equity Securitization Alliance is a grouping of like-minded property associations from across the world: BPF, Nareit (the US National Association of Real Estate Trusts), EPRA (European Public Real Estate Association), the Property Council of Australia, REALPAC(the real property association of Canada), ARES (the Japanese Association for Real Estate Securitization) and Asia Pacific Real Assets Association (APREA).

REESA’s mission is to shape and promote opportunities for investing in securitized real estate and to advance the understanding of REIT regimes as a trusted asset class.

❓How often does it meet?

🗣The REESA organisations meet every six months to discuss issues of common interest and share learnings.

❓What sort of things do you talk about?

🗣At our meeting last week a major focus was what more we can do collectively to support the implementation and success of the REIT regime in other parts of the globe – we were joined by a colleague from Poland who is currently negotiating with the Polish authorities over the introduction of REITs.

The economic and political scenes in our different parts of the world, and implications for real estate, are always important topics and really helpful in understanding the perspectives of global investors as well as political or regulatory developments that might, in future, hit the UK!

❓Is there much common ground?

🗣It’s striking how similar the issues and challenges are facing our sector across the globe. 

The lack of affordable housing is one thing we all seem to have in common, plus of course the challenges around decarbonisation and the broader responsibility agenda.

❓What else happens at REESA meetings?

🗣One of the two meetings a year is usually in the margins of EPRA’s conference, and a more recent development has been to invite a number of European country real estate associations to join us – last week we had representatives from all across Europe from Ireland to Sweden to Italy and many more!

❓What was the mood in the meetings and at the EPRA conference?

🗣My key takeaway was that whilst there are definitely still big challenges ahead, the mood is more optimistic and positive than was the case 12 months ago.

ℹ About Melanie: Melanie joined the British Property Federation as Chief Executive in January 2015. Her role is to champion a diverse, successful and sustainable UK real estate sector recognised for the positive economic and social benefits it delivers to communities across the country.