Investments in Logistics Real Estate

Kilian Mahler

ERES from European Real Estate Society (ERES)

Abstract: The paper evaluates the situation of logistics service providers and real estate investors in Germany. Especially the effects of the New Basel Accord on service providers are analysed and the financing alternatives for the different kinds of companies in this segment are described. It takes into account that different financing structures have to be applied for publicly listed companies versus non listed companies. Additionally, aspects like the eastern enlargement of the EU, the increase in demand for contract logistics, globalisation, new technologies like RFID, ecommerce et cetera are considered. Besides the characteristics concerning logistics companies, it evaluates the portfolio situation of real estate investors. The structure of the existing portfolios and the yield returns of the different real estate types are being examined. Investment criteria for real estate investors are presented in general and in detail for investments in logistics real estate. As theoretical background, the resource based view and the modern portfolio theory are applied. The results of the study are based on the content analysis of interviews, literature reviews and logical considerations. In case data is available, correlations between different real estate types will be calculated in order to clarify, whether logistics real estate has a positive effect on yield return of office and retail real estate portfolios.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2005-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2005_251

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