On August 17, 2006, the Frankfurt office authored an Alert Memorandum entitled, “G-REITs.” This four-page memo discusses therecently released draft legislation on the planned introduction of German Real Estate Investment Trusts. The German government considers the introduction of G-REITs as a new asset class for the investment in German real estate as important to further develop and strengthen Germany’s position in international financial markets. The memorandum puts light on the envisaged key provisions regarding legal form of the G-REIT, share-ownership restrictions, special Topic-REITs, and the tax treatment on the entity and shareholder level.