One of the top UK property outfits.

High premium to NAV reflects French office property outlook and its pipeline.

Strong in Central London office segment

Top Italian REIT candidate. Main asset is a sale-and-leaseback portfolio of Telecom Italia. Other assets include Prada's retail portfolio. "The REITs expected to be formed in Italy also are likely to be attractive to individual and institutional investors. Shares of some likely prospects for REIT-dom, such as Beni Stabili, already have benefited from the anticipation."

Anglo-French investor in shopping and offices. Net debt to equity is below sector average of 67%.

Slough Estates (ticker: SLOU.U.K.) is one of the cheapest among FTSE 100 companies; its shares trade at a 7% premium to its net asset value. Bas Eestermans, who runs a €250 million fund in Rotterdam for Robeco, part of RaboBank, owns shares in Slough Estates, a specialist in industrial properties. "Specialization brings scarcity value," he said.

Brixton has sold over 500 million British pounds' worth of property from its portfolio and is reinvesting the proceeds in real estate around airports, especially Heathrow. Brixton's CEO, Tim Wheeler, says that the logic of its decision to focus on airport corridors is understood more clearly by non-U.K. investors, who own 40% of Brixton's outstanding shares (U.S. investors own 12%). Its shares have risen 15% in the past year, and the company has amassed a cash stash of about £350 million. Wheeler is actively marketing his REIT to wealthy North Americans. Bas Eestermans, who runs a €250 million fund in Rotterdam for Robeco, part of RaboBank, also owns shares in Brixton.