There are some telephone conversations that stay with you. One I had in 2014 with a Canadian property investor called Thomas Schwartz is a case in point. I had come across a company called CapReit, which had quietly incorporated an Irish-registered entity, and was trying to establish what it intended to do here. The country was emerging from its financial calamity, and global investors were scouring Ireland for opportunistic plays. The real estate investment trust (Reit) structure had just been enacted in Ireland to inject liquidity into the property market.  CapReit had a large publicly traded property business in Canada,…

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