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Paper eres2005_341:
Institutional Investments in Real Estate: Insights from Germany

id eres2005_341
authors Truebestein, Michael
year 2005
title Institutional Investments in Real Estate: Insights from Germany
source Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
summary The paper analyses the characteristics of institutional investments in the German real estate market and refers to the study of "Institutional Investors in Real Estate" presented by Prof. Dr. Wolfgang Schaefers at the 1st World Congress of the International Real Estate Society in Anchorage (July 2001). In addition, the study identifies and evaluates current aspects and future trends in institutional investments in real estate taking into account the specific institutional governance structure in Germany. More specifically, the paper will analyse general insights into the investment behaviour and investment criteria of German and international institutional investors in real estate as well as the volume of real estate investments. Thereafter, the study focuses on the behaviour of German institutional investors and their tendency to convert direct real estate assets into indirect real estate investments. This possible conversion is evaluated in regards to new investment forms such as mortgage/asset backed securities, real estate private equity/opportunity funds and fund of funds products as well as the likely introduction of real estate investment trusts (REITs) in Germany, but also in regard to the actual crises at the openended real estate fund market in Germany. In particular, the study focuses on the investment objectives in the different real estate markets as well as on the risk objectives and preferred vehicles and strategies for future investments in real estate. Finally the study will determine the importance of different valuation methods for real estate assets and conclude with a general outlook of future strategies and tendencies in institutional investments in real estate.
series ERES:conference
type normal paper
discussion No discussions. Post discussion ...
session Session F1
last changed 2008/11/01 09:47
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