Real Estate Investment Trusts In Europe

Author : Ramón Sotelo,Stanley McGreal
Publisher : Springer Science & Business Media
Page : 236 pages
File Size : 48,8 Mb
Release : 2013-12-11
Category : Business & Economics
ISBN : 9783642368561

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Real Estate Investment Trusts in Europe by Ramón Sotelo,Stanley McGreal Pdf

Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.

Author : Wolfgang Speckhahn
Publisher : Kluwer Law International B.V.
Page : 336 pages
File Size : 41,7 Mb
Release : 2016-04-24
Category : Law
ISBN : 9789041191106

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Real Estate Investment Trusts In Europe by Wolfgang Speckhahn Pdf

It is well known that investments in real estate provide relatively stable yields compared with stock market volatility, so it is not surprising that, with globalisation, investors have pursued such opportunities across borders, especially where foreign countries offer beneficial tax regimes. Nor it is surprising that states should fear erosion of their tax base in the presence of such investments. This groundbreaking book – the first in-depth comparative analysis of taxation of real estate investment trusts (REITs) in different European Union (EU) Member States – investigates the impact of EU law on direct taxation in the case of REITs, and whether EU policies in this area have led national legislators to adjust their REIT regimes. Presenting detailed case studies of three EU Member States – France (a well-established REIT regime), Bulgaria (a new accession state) and Spain (a recent REIT regime) – this book explores the idea of a harmonised EU REIT, and whether harmonisation among national REIT regimes may be possible. Among the issues and topics arising in the course of the presentation are the following: – ‘goodness of fit’ and adaptational soft pressure; – relevant case law from the European Court of Justice, including both tax and company law; – ‘REIT shopping’; – noncompliance of REIT regimes with EU law; and – criteria for the ‘misfit’ analysis of REIT regimes and potential infringements of EU law. The analysis ultimately documents conditions and circumstances for the creation of a harmonised ‘Euro-REIT’ by assessing the level of change on the area of direct taxation within the Member States which would be needed for such a creation to become reality, identifying common themes across different legal systems that could assist the harmonisation of laws. Throughout, a holistic view is taken, linking tax and company law with considerations of sovereignty, policy and culture. In its structured framework comparing REIT regimes, this incomparable study takes a giant step towards overcoming resistance to a common REIT taxation regime in the EU. As the first comparative study of REIT regimes to identify an emerging common understanding informed by European jurisprudence and Europeanisation policy and theory, it is sure to be welcomed by practitioners, academics and policymakers in European law and international taxation as well as European studies.

Author : Gianluca Mattarocci,Dilek Pekdemir
Publisher : Springer
Page : 120 pages
File Size : 51,6 Mb
Release : 2017-11-07
Category : Business & Economics
ISBN : 9783319692067

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Logistic Real Estate Investment and REITs in Europe by Gianluca Mattarocci,Dilek Pekdemir Pdf

This book provides a complete analysis of the logistic market, with a special focus on performance and risk characteristics, demand and supply, and diversification strategy. The authors offer cutting-edge research and detailed case studies from countries in Europe, evaluating the market features of the logistic sector and its differences to alternative types of real estate assets. With its comprehensive overview of the logistic market, both academics and practitioners will find this an engaging study, as well as those generally wishing to gain knowledge about investing in this segment of the real estate industry.

Author : Su Han Chan,John Erickson,Ko Wang
Publisher : Financial Management Association Survey and Synthesis
Page : 40 pages
File Size : 53,6 Mb
Release : 2003
Category : Business & Economics
ISBN : 0195155343

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Real Estate Investment Trusts by Su Han Chan,John Erickson,Ko Wang Pdf

This work provides the investing public, real estate practitioners, regulators and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalization and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors' diversified portfolio.

Author : David Parker
Publisher : John Wiley & Sons
Page : 329 pages
File Size : 42,6 Mb
Release : 2012-02-01
Category : Business & Economics
ISBN : 9781444398809

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Global Real Estate Investment Trusts by David Parker Pdf

As real estate investment trusts continue to grow exponentially in Asia and Europe - being already well established in the USA and Australasia - a comprehensive guide to the issues involved in REIT property investment decision making is badly needed. This book draws together the most recent developments in REIT management from academic research and professional practice. It is based on current, original academic research, including structured interviews with the managers of a wide range of different types of REITs as well as the research and publications of others, together with the author's 25 years experience in REIT management. It provides a theoretically robust and practically relevant up to date guide to the property investment decision making process for REITs. Presenting new insights, the author breaks the REIT property investment decision making process down into three phases comprising six stages with 30 sequential steps. Each chapter focuses on one stage of the property investment decision making process and introduces the key people in the REIT management team relevant to the activities in that chapter. The theory and principles are considered and illustrated by application to Super REIT, a $15bn diversified REIT. Global Real Estate Investment Trusts: People, Process and Management fuses not only how REITs should undertake property investment decision making - based on how it is undertaken and the underlying property theory, capital market theory and finance theory - but also why each part of the decision making process is important. This book provides the first sole-authored scholarly work specifically on REITs as a business enterprise and REIT property investment decision making as an holistic and cyclical process. The focus is on principles, making it relevant in each of the four major REIT markets around the world: USA, Europe, Asia and Australasia. An essential book for REIT managers and all those practising professionals involved in the REIT industry - including property practitioners, researchers, lawyers, accountants, bankers and directors around the world.

Author : David Parker
Publisher : John Wiley & Sons
Page : 341 pages
File Size : 42,9 Mb
Release : 2012-01-17
Category : Business & Economics
ISBN : 9781405187220

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Global Real Estate Investment Trusts by David Parker Pdf

As real estate investment trusts continue to grow exponentially in Asia and Europe - being already well established in the USA and Australasia - a comprehensive guide to the issues involved in REIT property investment decision making is badly needed. This book draws together the most recent developments in REIT management from academic research and professional practice. It is based on current, original academic research, including structured interviews with the managers of a wide range of different types of REITs as well as the research and publications of others, together with the author's 25 years experience in REIT management. It provides a theoretically robust and practically relevant up to date guide to the property investment decision making process for REITs. Presenting new insights, the author breaks the REIT property investment decision making process down into three phases comprising six stages with 30 sequential steps. Each chapter focuses on one stage of the property investment decision making process and introduces the key people in the REIT management team relevant to the activities in that chapter. The theory and principles are considered and illustrated by application to Super REIT, a $15bn diversified REIT. Global Real Estate Investment Trusts: People, Process and Management fuses not only how REITs should undertake property investment decision making - based on how it is undertaken and the underlying property theory, capital market theory and finance theory - but also why each part of the decision making process is important. This book provides the first sole-authored scholarly work specifically on REITs as a business enterprise and REIT property investment decision making as an holistic and cyclical process. The focus is on principles, making it relevant in each of the four major REIT markets around the world: USA, Europe, Asia and Australasia. An essential book for REIT managers and all those practising professionals involved in the REIT industry - including property practitioners, researchers, lawyers, accountants, bankers and directors around the world.

Author : William A. Kelley
Publisher : ALI-ABA
Page : 254 pages
File Size : 41,5 Mb
Release : 1998
Category : Business & Economics
ISBN : 083180789X

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Real Estate Investment Trusts Handbook by William A. Kelley Pdf

Author : Judith Blickle,Carolin Schusser
Publisher : GRIN Verlag
Page : 185 pages
File Size : 44,8 Mb
Release : 2006-05-19
Category : Business & Economics
ISBN : 9783638502641

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Pan-European Real Estate Investment and Market Opportunities by Judith Blickle,Carolin Schusser Pdf

Diploma Thesis from the year 2006 in the subject Business economics - Miscellaneous, grade: 1,0, Nürtingen University; Geislingen, language: English, abstract: The intention of this thesis is to provide an insight in the Pan-European Investment scene on the basis of a leading Investment management company which is located in one of the world’s most prospering markets. In order to point out the special aspects of this topic, we supplemented the theoretical introduction about the Real Estate market in general and its particularities with the analysis of a current Investment vehicle of Curzon Global Partners. In this context, we focus our thesis on the examination of prevailing and future market opportunities and the execution of convenient Investment strategies that are customised on Pan-European markets.

Author : David Parker
Publisher : Routledge
Page : 306 pages
File Size : 53,8 Mb
Release : 2018-10-10
Category : Technology & Engineering
ISBN : 9781351664837

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The Routledge REITs Research Handbook by David Parker Pdf

The Routledge REITs Research Handbook presents a cutting-edge examination of the research into this key global investment vehicle. Edited by internationally respected academic and REIT expert Professor David Parker, the book will set the research agenda for years to come. The handbook is divided into two parts, the first of which provides the global context and a thematic review covering: asset allocation, performance, trading, sustainability, Islamic REITs, emerging sectors and behavioural finance. Part II presents a regional review of the issues with high level case studies from a diverse range of countries including the US, UK, Brazil, India, Australia, China, Singapore, Israel and Russia, to name just a few. This handbook redefines existing areas within the context of international REITs research, highlights emerging areas and future trends and provides postgraduates, professionals and researchers with ideas and encouragement for future research. It is essential reading for all those interested in real estate, international investment, global finance and asset management.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,9 Mb
Release : 2024-06-02
Category : Electronic
ISBN : OCLC:49009402

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Real Estate--Investment Trusts (REITs). by Anonim Pdf

Christopher Lott presents information on the real estate investment trust (REIT) as part of his FAQ on investment. The information was contributed by Braden Glett. A REIT is a company that invests its assets in real estate holdings. Investors get a share of the earnings from the portfolio of real estate holdings that the REIT owns.

Author : Bryan D. MacGregor,Rainer Schulz,Richard K. Green
Publisher : Routledge
Page : 359 pages
File Size : 41,9 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9781317687856

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Routledge Companion to Real Estate Investment by Bryan D. MacGregor,Rainer Schulz,Richard K. Green Pdf

Real estate represents an increasingly significant global asset class and its distinctive characteristics must be understood by investors and researchers. The Routledge Companion to Real Estate Investment provides an authoritative overview of the real estate asset class. The Companion focuses on the current academic research and its relevance for practical applications. The book is divided into four parts, each containing specially written chapters by international experts in the relevant field. The contributors cover the institutional context for real estate investment, the main players in real estate investment, real estate appraisal and performance measurement, and real estate portfolios and risk management. This Companion provides a comprehensive reference for students, academics and professionals studying, researching and working in real estate investment, finance and economics.

Author : Kim Hin David Ho
Publisher : Partridge Publishing Singapore
Page : 354 pages
File Size : 40,7 Mb
Release : 2021-11-26
Category : Business & Economics
ISBN : 9781543767674

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The Reits (Real Estate Investment Trusts) by Kim Hin David Ho Pdf

Chapter 1 examines the significance of ‘green’ buildings on the operational and financial performance of REITs. The Chapter covers different direct real estate sectors, namely office, retail and residential, for the REITS concerned to evaluate the consistency of the results. Chapter 2 looks at the risk neutral and non-risk neutral pricing of real estate investment trusts in Singapore (S-REITs), via comparing the average of the individual ratios (of deviation between expected and observed closing price/observed closing price), with the ratio (of standard deviation/mean) for closing prices, via the binomial options pricing tree model. Chapter3 highlights that while the Markowitz portfolio theory (MPT) is popular in modern finance to model portfolios with maximum total returns (TRs) for a given systematic risk, the more flexible multivariate copula model is introduced that enables investors and portfolio managers to obtain the optimal portfolio. Chapter 4 looks at a value investing framework, in which a REIT and real estate comany investment operation is deemed to be one, where a “thorough analysis”, should promise the safety of a principal and an adequate total return. Chapter 5 examines the market reactions of Malaysia’s listed property trusts and property common stocks to corporate restructuring activities – direct real estate asset acquisitions and new listings. Chapter 6 reports the Monetary Authority of Singapore (MAS) consultations with the Inland Revenue Authority of Singapore (IRAS) and the Ministry of Finance (MOF), to introduce the Income Tax Act (ITA) amendments, and a new temporary relief measure for real estate investment trusts (REITs) in Singapore. The Chapter also looks at the proposal by the Asian Public Real Estate Association (APREA) to the MAS, to create a private REIT structure Chapter 7 looks at the key issues and notes on the valuation of the public real estate investment trusts (REITs) and the real estate companies, adopting several valuation metrics to value REITs on a stand-alone and a relative basis. Chapter 8 looks at the unique Asian REIT institutional environment, pertaining to the S-REIT, while cross referencing it to that of the CapitaMall Trust (S-CMT) and the Hong Kong HK- Link REIT. Chapter 9 summarises the book’s findings and highlights the contributions and recommendations made.

Author : Zopounidis, Constantin,Kenourgios, Dimitris,Dotsis, George
Publisher : IGI Global
Page : 385 pages
File Size : 41,9 Mb
Release : 2020-02-07
Category : Business & Economics
ISBN : 9781799824381

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Recent Advances and Applications in Alternative Investments by Zopounidis, Constantin,Kenourgios, Dimitris,Dotsis, George Pdf

In recent years, there has been a swell of investment opportunities in contemporary asset classes that have gained considerable attention, including cryptocurrencies, hedge funds, and private equity. These alternative investments provide the opportunity to enhance the diversification of financial portfolios and harvest risk premiums that traditional assets like stocks and bonds fail to provide. The emergence of these new properties has created the need to further understand the mechanics, risks, and returns of alternative investments. Recent Advances and Applications in Alternative Investments is a pivotal reference source that provides vital research on the emergence and development of complementary asset classes in the field of finance and investment. While highlighting topics such as carbon emission markets, renewable energy, and digital currencies, this publication explores modern investment strategies as well as the latest products and new types of risk. This book is ideally designed for managers, strategists, accountants, financial professionals, economists, brokers, investors, business practitioners, policymakers, researchers, and academicians seeking current research on contemporary developments in investment strategies and alternative assets.

Author : Dilek Pekdemir
Publisher : Springer
Page : 200 pages
File Size : 42,5 Mb
Release : 2015-09-07
Category : Business & Economics
ISBN : 9781137436122

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European Real Estate by Dilek Pekdemir Pdf

This book provides a thorough overview of the European real estate Market. It evaluates the performance difference between countries and sectors, and what implications this has for optimal investment strategy within real estate asset classes.

Author : United States. Securities and Exchange Commission. Office of Economic Research
Publisher : Unknown
Page : 104 pages
File Size : 41,9 Mb
Release : 1975
Category : Real estate investment trusts
ISBN : UIUC:30112081701747

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Real Estate Investment Trusts by United States. Securities and Exchange Commission. Office of Economic Research Pdf