On June 26, 2016, in a national referendum on continuing membership in the European Union, Britons voted to leave 52 to 48 percent. A formal departure notice was filed by Great Britain under Article 50 of the EU’s Lisbon Treaty, with the final deadline to leave the EU occurring on March 29, 2019. There is no final agreement about the specifications of the separation, but that could change quickly.
When it comes to the details of how Brexit will transpire, the immediate fallout, or how regulations may change (if at all), the only certainty right now is uncertainty. However, whether you are an institutional investor with CRE interests or offices based in the UK, or a UK-based developer, there are some pragmatic steps that you can plan to ease anxiety and lower your risk.
To read the full article outlining Brexit-related CRE concerns and risk management strategies, click here.