REIT toolbox

This REIT toolbox provides information about the building blocks of modern REITs for policymakers, advocates, and stakeholders.

Rather than a single global approach to REITs, this toolkit showcases models that can be adapted to meet the needs of local markets, economies and communities.

The toolbox is divided into five modules:

  • Financial reporting, including FFO and AFFO guidelines

  • ESG and sustainability

  • REIT regimes around the world

  • Think tank - helpful guides on REIT trends and themes

  • Awards and case studies

Financial reporting

  • EPRA's best practice recommendations guidelines (BPRs)

    EPRA's comprehensive financial reporting guidelines and performance benchmarks.

    Contents include performance measures, investment property reporting, a glossary, best practice examples and a BPR checklist.

    September 2024

    Link here

  • REALPAC's adjusted cashflow from operations (ACFO)

    REALPAC’s IFRS-compliant guide to calculating adjusted cashflow from operations.

    January 2023

    Link here

  • REALPAC's FFO and AFFO guidelines.

    REALPAC's IFRS-compliant guide to calculating FFO and AFFO.

    January 2022

    link here

  • The Property Council of Australia's FFO and AFFO best practice guidelines

    Version 2 of the PCA’s voluntary guidelines for calculating Funds from Operations and Adjusted Funds from Operations.

    Version 2.1: May 2019

    link here

  • Nareit FFO white paper

    Nareit’s FFO White Paper Restatement distils and consolidates previous Nareit guidance without altering its fundamental definition of FFO.

    December 2018

    link here

ESG best practice & reporting

  • EPRA's sustainability best practice recommendations

    EPRA's popular guidelines, now in their fourth edition.

    The guidelines cover performance measures for environmental, social and governance practices, along with overarching recommendations and a glossary.

    April 2024

    link here

  • Nareit's REIT Industry Sustainability Report 2024

    Nareit’s sixth annual report into sustainability, which explores:

    * transparency & reporting

    * leadership & governance

    * resources & resilience

    * workforce & culture

    * community & business connections

    Link Here

  • REALPAC's 2024 Sustainability Industry Report

    REALPAC’s latest survey of Canada’s ESG landscape for commercial real estate.

    2024

    link here

  • Decarbonizing Canada's commercial buildings

    Ten recommendations for decarbonizing commercial real estate in Canada.

    A joint report by REALPAC, Place Centre at the Smart Property Institute and the Canada Green Building.

    December 2024

    link here

  • BPF's sustainability knowledge hub

    The British Property Federation’s hub offers 14 publications, inlcuding:

    Towards Net Zero
    Insights into the impact of ESG on offices
    Insights into a retrofit revolution
    Insights into a net zero build-to-rent sector
    An ABC introduction to EPCs
    …and many more + webinars

    2024, 2023

    Link here

  • Property Council of Australia ESG Hub

    The Property Council’s portal to guidelines for addressing:

    * Modern slavery in supply chains

    * Social procurement

    * Collective social impact framework

    2024

    Link Here

  • ARES ESG Information Disclosure Case Studies

    Case studies on ESG information disclosure specifically for J-REITs.

    Edited by the Japan Research Institute - since 2021.

    Link here

  • J-REITs ESG Initiatives Survey

    The results of a comprehensive survey on the ESG initiatives of J-REITs.

    Conducted by the Japan Research Institute - since 2023.

    Link Here

  • SAREIT sustainability guidelines for South African REITs

    The South African REIT Association and CIB provide a comprehensive guide to ESG disclosure policies and practices.

    2023

    link here

  • REALPAC Explainers

    REALPAC's explainers on:

    GHG accounting
    Net zero accounting
    Physical risk
    Sustainable finance

    link here

  • Property Council of Australia: Every Building Counts

    The Property Council of Australia’s practical plan for emissions reduction.

    This joint effort with the Green Building Council of Australia outlines policy plans that can be adopted by all spheres of government.

    2019

    link here

Global and Country REIT guides

  • EPRA Global REIT survey

    EPRA's annual survey of REIT regimes currently covers 46 markets worldwide.

    It compares key market features such as legal structures, taxation, dividend distribution rules, leverage restrictions, and operational limitations.

    September 2024

    link here

  • European REITs - EPRA's comparative analysis

    14 European markets compared in a helpful table.

    Includes details on legal form, share capital and free float requirements, income, activity and leverage tests, as welk as distribution rules.

    2024

    link here

  • EPRA's Listed REITs in Europe

    A snapshot of the European REIT markets.

    2023

    link here

  • REITs in Canada

    A quick tour of Canada’s REIT landscape.

    2020

    link here

Think tank - helpful insights into REIT trends and themes

  • Assessing the social impact of build-to-rent developments on residents and local communities

    The BPF and partners explore the positive social impact of a rising UK asset class.

    2024

    link here

Awards and case studies

  • Nareit 2024 Leader in the Light Awards

    Showcasing the 2024 recipients of Nareit’s awards for leadership in implementing sustainable and socially responsible investment and operating practices, good governance and transparency.

    link me

  • ARES ESG Award

    A spotlight on outstanding ESG performance by J-REITs conducted by ARES since 2023.

    Link Me

  • EPRA's 2024 Best Practice Awards

    EPRA’s Best Practice Recommendations (BPRs) are a cornerstone of the organisation.

    This survey of 179 annual reports provides a unique audit of industry progress against best practice benchmarks and invaluable insights into market trends.

    Survey conducted with Deloitte.

    Link me

  • Property Council of Australia Innovation & Excellence Awards

    The Property Council’s annual awards recognise 19 categories of excellence.

    The Property Council also hosts companion recognition programs for retirement living and a Hall of Fame.

    Link me