Eres : Digital Library : Works

Paper eres2004_229:
A Framework for Global Real Estate Investment from a US Perspective

id eres2004_229
authors Watkins, David; Hartzell, David
year 2004
title A Framework for Global Real Estate Investment from a US Perspective
source 11th European Real Estate Society Conference (2-5 June 2004) Milano, Italy
summary US institutional investors include asset classes in their portfolio for a number of reasons, including wanting to conform with industry norms, participate in a significant component of the investable universe, earn favorable returns, diversify the portfolio and provide a natural hedge against future liabilities. Non-US real estate as an asset class meets these criteria and is therefore expected to grow in prominence in the portfolio as more investors gain understanding of the opportunity and risks. Implementation alternatives are numerous. We propose a framework for discussing risk and expected return that considers the property’s lifecycle (Core, Value-add, or Opportunistic) and the country’s development stage (Emerging, Growth or Established). The combination of these risk and return factors motivates a discussion of investor preferences and allows informed investors to exploit apparent market inefficiencies.
series ERES:conference
email david.watkins@heitman.com
discussion No discussions. Post discussion ...
ratings
session International Diversification
last changed 2008/12/21 10:41
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