An assessment of property investment vehicles with particular reference to German funds

Author:

Berry Jim,McGreal Stanley,Sieracki Karen,Sotelo Ramon

Abstract

Property investment vehicles are reviewed from a literature perspective drawing upon the experience of real estate investment trusts in the USA and contrasting this with European examples. The primary focus of the paper is upon German funds, using survey evidence to evaluate their structural characteristics. The paper forwards from a theoretical perspective an assessment framework indicating how different types of fund can be matched to product opportunities on the basis of risk, appreciation potential, nature of contract, location and use.

Publisher

Emerald

Subject

General Economics, Econometrics and Finance,Finance,General Business, Management and Accounting,General Economics, Econometrics and Finance,Finance,General Business, Management and Accounting

Reference30 articles.

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4. Chan, K.C., Hendershott, P.H. and Sanders, A.B. (1990), “Risk and return on real estate: evidence from equity REITs”, AREUEA Journal, Vol. 18, Winter, pp. 431‐52.

5. Chan, S.H., Leung, W.K. and Wang, K. (1998), “Institutional investment in REITs: evidence and implications”, Journal of Real Estate Research, Vol. 16 No. 3, pp. 357‐74.

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