Download or read book German REITs written by Felix Leuschner and published by GRIN Verlag. This book was released on 2005-12-11 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2005 in the subject Business economics - Investment and Finance, grade: 1,3, Otto Beisheim School of Management Vallendar (WHU - Dresdner Bank Chair of Finance), language: English, abstract: A Real Estate Investment Trust (REIT) is a property stock that is taxed, not at the corporate but at the investor level, which can lead to tax advantages. The concept of REITs originated in the United States in 1960, allowing smaller investors access to large income-producing real estate, which facilitated the creation of a liquid asset class that has become a core part of institutional portfolio management. REITs have proven attractive to investors because: x Their returns have beaten most major equity benchmarks over three decades, with lower volatility x They have predictable cash flows and high dividend yields x They have a low correlation with other asset classes, aiding portfolio diversification As US-REITs proved successful, other countries have introduced similar property investment vehicles. The Netherlands started in 1969, followed by Australia (1985), Canada (1994), Belgium (1995), Japan (2000) Singapore (2002), Hong Kong (2003) and most recently France (2003). In Germany real estate has been the most popular investment theme of the past three years, despite its significant underperformance compared to European peers during the past 10 years, with open-end funds receiving almost all money inflows. The listed sector, however, is insignificant, both in terms of size and liquidity, and is in desperate need of a catalyst. The introduction of a G-REIT structure could potentially be the long-awaited saviour that could transfer the importance of German real estate into the listed sector. Given the significance of real estate in their respective markets, the German and UK governments are currently considering the introduction of REITs. Depending on the progress of the consultative and parliamentary process, REITs are expected to be enacted by legislation during 2006 in both countries. The REIT discussion in Germany has reached a serious stage, with all the mostinvolved parties seemingly agreed about the usefulness of a REIT structure. The purpose of this paper is to highlight the case for REITs in Germany, to analyse the progress of REITs in countries that have installed these structures, to consider the on-going debate in Germany and what these developments may eventually mean for the German real estate market.

Download or read book German Investment in Real Estate Investment Trusts written by Sunitha Amalraj and published by . This book was released on 1993 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Taxation of Real Estate Investment Trusts REITs in the United States and of Their German Shareholders written by Katja Schlemmbach and published by . This book was released on 2008 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Investing in German Real Estate written by Florian Hackelberg and published by Haufe-Lexware. This book was released on 2021-02-03 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investing in one of the most promising real estate markets in Europe offers enormous opportunities. And as with every real estate market, in Germany too, the local framework conditions must be understood and their particularities must be adequately taken into account. The authors are renowned senior executives, real estate advisors and academics, who share here their extensive experience and real life insights from countless real estate investments, covering all aspects of a successful investment process in Germany. Includes: markets, the regulatory framework and investment guidelines. Contents: - Essentials for successful real estate investments in Germany - Macro-economic structure and dynamics of the German real estate market - Real estate investment, trends and strategies - Diverse submarkets: residential, offices, retail, hotel and nursing homes - Real estate legal, tax and audit frameworks - German REITS and ESG in real estate investments - Real estate M&A, financing, due diligence and valuations

Download or read book Real Estate Investment Trusts written by Su Han Chan and published by Financial Management Association Survey and Synthesis. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work provides the investing public, real estate practitioners, regulators and real estate and finance academics with up-to-date information on what modern scholarly research tells us about Real Estate Investment Trusts (REITs). REITs are credited to allow institutional and individual investors to invest in real estate via a corporate entity. The increasing interest in REITs as indicated by their growth in market capitalization and institutional holdings in the United States and around the world suggests that REITs are becoming an increasingly important part of investors' diversified portfolio.

Download or read book Real Estate Investment Trusts in Europe written by Ramón Sotelo and published by Springer Science & Business Media. This book was released on 2013-12-11 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.

Download or read book Real Estate Investment Trusts in Germany written by Nicola Fritsch and published by . This book was released on 2015 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this third in a series of four articles, the authors examine the German Real Estate Investment Trust (REIT) regime. Previous articles dealt with REITs in the United States and the United Kingdom. A subsequent and final article concludes with a comparison of the three regimes. This article explores the implementation and use of the REIT regime in Germany. National REIT regimes provide incentives for indirect investment in real estate by giving certain entities preferential tax treatment. Germany was a relative latecomer to the REIT regime. The article assesses the German experience since 2007. REIT legislation has been considered a positive and necessary step for Germany as a major real estate and financial market, however, there were challenges as a result of the financial crisis of 2008-2009.

Download or read book Guide to Global Real Estate Investment Trusts written by Stefano Simontacchi and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global listed property sector has been characterized by a variety of noteworthy developments over the recent past, the proliferation of real estate investment trust-type structures in countries around the world key among them. Despite an uncertain economic environment, REITs have proven their ability to promote institutional real estate investments in global financial markets. This highly practical book features a comprehensive analysis of both the legal and tax underpinnings of REIT-friendly legislation in a variety of the world's most significant jurisdictions. With regard to the legal framework, the structure and functioning of a REIT is carefully investigated and explained. In terms of tax issues, the book focuses on such key issues as REIT formation, operation and liquidation; mergers, acquisitions and dispositions; as well as planning for public and private REIT offerings and re-securitizations. REITs are inherently complex and their interplay with tax treaties further compounds the complexity. This highly accessible yet authoritative work is the perfect decision making tool for any professional looking for perspective and guidance on the challenges and opportunities REITs engender.

Download or read book German Real Estate Investment Trusts G REITs written by Matthias Fischer and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book German Real Estate Investment Trust written by Johannes Hommert and published by . This book was released on 2008 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studienarbeit aus dem Jahr 2008 im Fachbereich BWL - Bank, Borse, Versicherung, Note: 2,0, Heinrich-Heine-Universitat Dusseldorf (Heinrich-Heine Universitat Dusseldorf), Veranstaltung: Finanzdienstleistung, 33 Quellen im Literaturverzeichnis, Sprache: Deutsch, Abstract: Das Thema "German Real Estate Investment Trusts" ist ein noch sehr junges Thema fur den deutschen Markt sowohl aus Sicht der Kapitalanleger als auch fur involvierte Unternehmen. Auf den kommenden Seiten erfolgt ein Einstieg in die Materie, um in Kapitel 2 bereits die regulatorischen Anforderungen und deren Grunde darzustellen. Im Anschluss werden in Kapitel 3 die Auswirkungen auf den Kapitalmarkt und seine Beteiligten ausfuhrlich diskutiert bevor im vorletzten Kapitel ein Blick auf die internationale Ebene der Reits geworfen wird. Zur Abrundung der Themeninhalte erfolgt in Kapitel 5 ein Ausblick verbunden mit einem abschlieenden Resumee.

Download or read book Return Patterns of German Open End Real Estate Funds written by Sebastian Michael Gläsner and published by Peter Lang. This book was released on 2010 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study is to better understand stable capital growth of German properties and to contribute to the explanation of stable fund returns. In the course of the investigation, evidence is found that both phenomena are interrelated. All analyses are based on publicly available data; therefore they are not limited by client interests. Results show three different pieces of evidence on return smoothing, namely the influence on valuation, the timing of valuations, and the influence on returns resulting in return differences by calendar months. Together with the notion of internationally uniquely stable returns, it seems impossible to extract true asset volatility from the observed appraisal-based time series.

Download or read book The Introduction of German REITs written by Felix A. Leuschner and published by VDM Publishing. This book was released on 2007-01-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real Estate Investment Trusts (REITs) are a bridge between two worlds, the capital markets at one end and the real estate sector on the other, leading to a unique risk/return profile. They bear benefits neither of which can realize standing alone, resembling a hybrid between real estate and equity. REITs invest directly in property and pass on almost all earnings to their shareholders as dividends. By distributing most of their profits, REITs get special tax treatment and avoid corporate income tax. Because of that REITs have proven very attractive to investors: Their returns have beaten most major equity benchmarks over three decades, with lower volatility, while offering predictable cash flows and high dividend yields. Further, they have a low correlation with other asset classes, aiding portfolio diversification. In Germany real estate has been the most popular investment theme of the past three years, despite its significant underperformance compared to European peers, with open-end funds receiving almost all money inflows. The listed sector, however, is insignificant, both in terms of size and liquidity, and is in desperate need of a catalyst. The introduction of a G-REIT structure could potentially be the long-awaited saviour that could transfer the importance of German real estate into the listed sector. The REIT discussion in Germany has reached a serious stage, as almost all of the involved parties seemingly agreed about the usefulness of a REIT structure. The purpose of this book is to highlight the case for REITs in Germany, to analyse the progress of REITs in countries that have already installed a REIT regime and to look at what the introduction of a G-REIT would ultimatelymean for the German real estate market.

Download or read book Real Estate Investment Trusts REITs as an Investment Opportunity in Germany written by Stephanie Nagel and published by . This book was released on 2006 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The German Real Estate Investment Trust REIT and the German Real Estate Market written by Sonja Bausch and published by . This book was released on 2005 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Understanding German Real Estate Markets written by Tobias Just and published by Springer Science & Business Media. This book was released on 2012-01-05 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real estate is the biggest real asset class in an economy, and Germany is the biggest economy in Europe. This implies opportunities as well as specific risks for investors and policy makers. As the German real estate markets have by and large been spared severe disruptions in the course of the economic crisis, many questions arise for investors and academics alike. What are the key institutional characteristics of the German real estate markets that make it different? What are the short and long-term drivers of demand and supply? Which regional and functional market segments are most likely to outperform in the next few years? What are the most important pitfalls for investors in Germany? This book gives answers to these and many more questions. The editors have invited a broad range of extensively knowledgeable practitioners and academics from across the relevant real estate spectrum, i.e. economic, legal, tax, planning and financing issues, to express their views. There is no better English publication that gives such a profound and simultaneously entertaining overview of Germany’s real estate markets.

Download or read book Real Estate Investment Trusts and the Future of German Open end Real Estate Funds written by and published by . This book was released on 2004 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Open ended Real Estate Funds and Real Estate Investment Trusts in Germany written by and published by . This book was released on 2014 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: