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Paper eres2006_174:
COMPARING THE DISCREET AFFLUENT ONES: A NEW DATABASE FOR REAL ESTATE FUNDS IN GERMANY

id eres2006_174
authors Dietel, Gerry F.; Daniel Piazolo; Matthias Thomas
year 2006
title COMPARING THE DISCREET AFFLUENT ONES: A NEW DATABASE FOR REAL ESTATE FUNDS IN GERMANY
source Book of Abstracts: 13th Annual European Real Estate Society Conference in Weimar, Germany
summary Special real estate funds in Germany represent more than EUR 16 billion assets in real estate. Investors, investment companies and the public domain did not yet have any access to performance data of the special real estate funds. The paper intends to close this gap and provides a thorough comparative analysis of all special real estate fund performance in Germany. Thereby the transparency of this important real estate segment is increased. All special real estate funds were included that existed for the 2001-2003 period analysed. The paper examines the typical construction of special real estate funds, sets out the relevant performance measures and reviews the special real estate funds industry. The core of the paper is the unique analysis of an extensive database. All the relevant information about the special real estate funds was collected from the Federal Bulletin (Bundesanzeiger) and transferred into a database. Based on standardized methods an adjusted performance measurement was carried out.
keywords special real estate fund; performance measurement; fund returns; property returns; regression analysis
series ERES:conference
type normal paper
discussion No discussions. Post discussion ...
ratings
session 8-B
last changed 2008/11/01 09:47
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