Condensed Chapter 21 Slides

Condensed Chapter 21 Slides - Chapter 21 Institutional...

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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 21 Institutional Investment and REITs
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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Major Topics What is Institutional Investment? The Players in the Institutional Investment Industry What are REITs? REIT regulation and earnings measures Measures of Risk Modern Portfolio Theory and the Role of Real Estate Equity
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“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Institutional Real Estate Investment The total value of pension fund assets grew from around $500 Billion in 1980 to over $4.3 Trillion by 2001 Substantial growth of pension fund capital is expected to continue into the 21st century as the 75 million- strong "baby boom" generation hits its peak earning years and prepares for retirement
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Economy”: Norman G. Miller and David M. Geltner Investing in Real Estate vs. Stocks and Bonds Large lump sums are required to purchase a single real property asset Property management and real estate asset management services are needed Real Estate is Illiquid, and takes longer, and is more expensive (per dollar invested), to sell real property assets than to sell the financial securities
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This note was uploaded on 02/07/2012 for the course FIN 4380 taught by Professor Staff during the Spring '08 term at Texas State.

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Condensed Chapter 21 Slides - Chapter 21 Institutional...

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