Investors

Colin A. Jones () and Edward Trevillion ()
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Colin A. Jones: Heriot-Watt University
Edward Trevillion: Heriot-Watt University

Chapter Chapter 5 in Real Estate Investment, 2022, pp 85-107 from Springer

Abstract: Abstract This chapter is concerned with the owners of commercial property who let space out to a tenant in return for a rental income rather than owner-occupiers. This chapter sets the current property investment market in an historical context. The nature of real estate assets and investors has radically changed over time, and this chapter reviews a spectrum of investors and their various reasons for investing or not investing in real estate. It examines the types of financial institutions investing in property and their investment priorities. It revisits the distinction between direct and indirect investment. This distinction in practice is blurred because in one sense nearly all the investors considered use collective schemes whereby individuals buy into a fund that then invests in real estate on their behalf. Further some of these investments not only purchase individual properties but also participate in collective investment arrangements. This chapter ends with a case study of hedge fund involvement in the property market, specifically the purchase of entire housing associations in Germany and the purchase of distressed debt associated with portfolios of properties from the banks following the GFC.

Keywords: Commercial real estate investment; Financial institutions; Investment priorities; Real estate investment trusts (REITs); Property companies; Unit trusts; Limited partnerships; Private equity; Hedge funds; Exchange traded funds (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-00968-6_5

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DOI: 10.1007/978-3-031-00968-6_5

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