The introduction of German REITs: market structure and potential
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Saarbrücken
VDM-Verl. Müller
2007
|
| Schlagworte: | |
| Online-Zugang: | Inhaltstext Klappentext Inhaltsverzeichnis |
| Beschreibung: | 55 S. graph. Darst. 240 mm x 170 mm |
| ISBN: | 9783836406260 3836406268 |
Internformat
MARC
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| 264 | 1 | |a Saarbrücken |b VDM-Verl. Müller |c 2007 | |
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Datensatz im Suchindex
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|---|---|
| adam_text |
Table
1
2
2.1
2.2
2.3
2.3.1
2.3.2
2.4
3
3.1
3.2
3.3
3.3.1
3.3.2
3.3.3
3.3.4
3.3.5
3.4
3.5
4
4.1
4.1.1
4.1.2
4.1.3
4.1.4
4.1.5
4.1.6
4.2
4.2.1
4.2.2
4.2.3
5
5.1
5.2
5.3
6
Appendix
Glossary
Bibliography
Real Estate Investment Trusts (REITs) are a bridge between two worlds, the
capital markets at one end and the real estate sector on the other, leading to
a unique risk/return profile. They bear benefits neither of which can realize
standing alone, resembling a hybrid between real estate and equity.
REITs invest directly in property and pass on almost all earnings to their
shareholders as dividends. By distributing most of their profits, REITs get spe¬
cial tax treatment and avoid corporate income tax. Because of that REITs have
proven very attractive to investors: Their returns have beaten most major e-
quity benchmarks over three decades, with lower volatility, while offering
predictable cash flows and high dividend yields. Further, they have a low cor¬
relation with other asset classes, aiding portfolio diversification.
In Germany real estate has been the most popular investment theme of the
past three years, despite its significant underperformance compared to Euro¬
pean peers, with open-end funds receiving almost all money inflows. The lis¬
ted sector, however, is insignificant, both in terms of size and liquidity, and is
in desperate need of a catalyst. The introduction of a G-REIT structure could
potentially be the long-awaited saviour that could transfer the importance of
German real estate into the listed sector.
The
the involved parties seemingly agreed about the usefulness of
ture. The purpose of this book is to highlight the case for REITs in Germany,
to analyse the progress of REITs in countries that have already installed
regime and to look at what the introduction of a G-REIT would ultimately
mean for the German real estate market.
Felix A. Leuschner
studied Business Administration at Otto-Beisheim
School of Management (WHU), Germany's most
prestigious Business School.
He has work experience with various companies
and institutions such as JP Morgan, Credit
Bertelsmann and the German Foreign Ministry.
In
is currently heading as a managing director. |
| adam_txt |
Table
1
2
2.1
2.2
2.3
2.3.1
2.3.2
2.4
3
3.1
3.2
3.3
3.3.1
3.3.2
3.3.3
3.3.4
3.3.5
3.4
3.5
4
4.1
4.1.1
4.1.2
4.1.3
4.1.4
4.1.5
4.1.6
4.2
4.2.1
4.2.2
4.2.3
5
5.1
5.2
5.3
6
Appendix
Glossary
Bibliography
Real Estate Investment Trusts (REITs) are a bridge between two worlds, the
capital markets at one end and the real estate sector on the other, leading to
a unique risk/return profile. They bear benefits neither of which can realize
standing alone, resembling a hybrid between real estate and equity.
REITs invest directly in property and pass on almost all earnings to their
shareholders as dividends. By distributing most of their profits, REITs get spe¬
cial tax treatment and avoid corporate income tax. Because of that REITs have
proven very attractive to investors: Their returns have beaten most major e-
quity benchmarks over three decades, with lower volatility, while offering
predictable cash flows and high dividend yields. Further, they have a low cor¬
relation with other asset classes, aiding portfolio diversification.
In Germany real estate has been the most popular investment theme of the
past three years, despite its significant underperformance compared to Euro¬
pean peers, with open-end funds receiving almost all money inflows. The lis¬
ted sector, however, is insignificant, both in terms of size and liquidity, and is
in desperate need of a catalyst. The introduction of a G-REIT structure could
potentially be the long-awaited saviour that could transfer the importance of
German real estate into the listed sector.
The
the involved parties seemingly agreed about the usefulness of
ture. The purpose of this book is to highlight the case for REITs in Germany,
to analyse the progress of REITs in countries that have already installed
regime and to look at what the introduction of a G-REIT would ultimately
mean for the German real estate market.
Felix A. Leuschner
studied Business Administration at Otto-Beisheim
School of Management (WHU), Germany's most
prestigious Business School.
He has work experience with various companies
and institutions such as JP Morgan, Credit
Bertelsmann and the German Foreign Ministry.
In
is currently heading as a managing director. |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Leuschner, Felix A. |
| author_GND | (DE-588)13272913X |
| author_facet | Leuschner, Felix A. |
| author_role | aut |
| author_sort | Leuschner, Felix A. |
| author_variant | f a l fa fal |
| building | Verbundindex |
| bvnumber | BV022381981 |
| classification_rvk | QK 530 |
| ctrlnum | (OCoLC)180731156 (DE-599)BVBBV022381981 |
| dewey-full | 332.632470943 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.632470943 |
| dewey-search | 332.632470943 |
| dewey-sort | 3332.632470943 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Book |
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| illustrated | Illustrated |
| index_date | 2024-07-02T17:11:41Z |
| indexdate | 2024-07-20T09:14:53Z |
| institution | BVB |
| isbn | 9783836406260 3836406268 |
| language | English |
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| spelling | Leuschner, Felix A. Verfasser (DE-588)13272913X aut The introduction of German REITs market structure and potential Felix A. Leuschner Saarbrücken VDM-Verl. Müller 2007 55 S. graph. Darst. 240 mm x 170 mm txt rdacontent n rdamedia nc rdacarrier Immobilienfonds auf Aktien (DE-588)4250771-6 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Deutschland (DE-588)4011882-4 g Immobilienfonds auf Aktien (DE-588)4250771-6 s DE-604 text/html http://deposit.dnb.de/cgi-bin/dokserv?id=2916744&prov=M&dok_var=1&dok_ext=htm Inhaltstext Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015590957&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Klappentext Digitalisierung UB Regensburg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015590957&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Leuschner, Felix A. The introduction of German REITs market structure and potential Immobilienfonds auf Aktien (DE-588)4250771-6 gnd |
| subject_GND | (DE-588)4250771-6 (DE-588)4011882-4 |
| title | The introduction of German REITs market structure and potential |
| title_auth | The introduction of German REITs market structure and potential |
| title_exact_search | The introduction of German REITs market structure and potential |
| title_exact_search_txtP | The introduction of German REITs market structure and potential |
| title_full | The introduction of German REITs market structure and potential Felix A. Leuschner |
| title_fullStr | The introduction of German REITs market structure and potential Felix A. Leuschner |
| title_full_unstemmed | The introduction of German REITs market structure and potential Felix A. Leuschner |
| title_short | The introduction of German REITs |
| title_sort | the introduction of german reits market structure and potential |
| title_sub | market structure and potential |
| topic | Immobilienfonds auf Aktien (DE-588)4250771-6 gnd |
| topic_facet | Immobilienfonds auf Aktien Deutschland |
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