Global real estate investment trusts
Subtitle: people, process and management
By: David Parker
Edition: 1st ed.
Publisher: Wiley-Blackwell
Published: 2012
Place of publication: Chichester, West Sussex; Ames, Iowa
Language: eng
ISBN-13: 9781405187220
Subjects: Real estate investment trusts; Management; BUSINESS & ECONOMICS / Real Estate
Description: "As real estate investment trusts continue to grow exponentially in Asia and Europe - being already well established in the USA and Australasia - a comprehensive guide to the issues involved in REIT property investment decision making is badly needed.This book draws together the most recent developments in REIT management from academic research and professional practice. It is based on current, original academic research, including structured interviews with the managers of a wide range of different types of REITs as well as the research and publications of others, together with the author's 25 years experience in REIT management. It provides a theoretically robust and practically relevant up to date guide to the property investment decision making process for REITs.Presenting new insights, the author breaks the REIT property investment decision making process down into three phases comprising six stages with 30 sequential steps. Each chapter focuses on one stage of the property investment decision making process and introduces the key people in the REIT management team relevant to the activities in that chapter. The theory and principles are considered and illustrated by application to Super REIT, a $15bn diversified REIT.Global Real Estate Investment Trusts: People, Process and Management fuses not only how REITs should undertake property investment decision making - based on how it is undertaken and the underlying property theory, capital market theory and finance theory - but also why each part of the decision making process is important.This book provides the first sole-authored scholarly work specifically on REITs as a business enterprise and REIT property investment decision making as an holistic and cyclical process. The focus is on principles, making it relevant in each of the four major REIT markets around the world: USA, Europe, Asia and Australasia.An essential book for REIT managers and all those practising professionals involved in the REIT industry - including property practitioners, researchers, lawyers, accountants, bankers and directors around the world"--
Notes: Includes bibliographical references and index.
Table of contents: title: Machine generated contents note: About the author.Preface.Introduction.1 Envisioning.1.1 People and Process.1.2 REITs: An Introduction.1.3 Preparing Phase.1.4 Envisioning Stage.1.5 People.1.6 Vision.1.7 Style.1.8 Goals.1.9 Strategic Plan.1.10 Objectives.1.11 Super REIT.1.12 Summary.1.13 Key Points.References.2 Planning.2.1 People.2.2 Property Portfolio Strategy.2.3 Strategic Asset Allocation.2.4 Tactical Asset Allocation.2.5 Stock Selection.2.6 Asset Identification.2.7 Super REIT.2.8 Preparing Phase.2.9 Summary.2.10 Key Points.References.3 Dealing.3.1 People.3.2 Preliminary Negotiation.3.3 Preliminary Analysis.3.4 Structuring.3.5 Advanced Financial Analysis.3.6 Portfolio Impact Assessment.3.7 Super REIT.3.8 Summary.3.9 Key Points.References.4 Executing.4.1 People.4.2 Governance Decision.4.3 Transaction Closure.4.4 Documentation.4.5 Due Diligence.4.6 Independent Appraisal.4.7 Transacting Phase.4.8 Super REIT.4.9 Summary.4.10 Key Points.References.5 Watching.5.1 People.5.2 Settlement.5.3 Post Audit.5.4 Performance Monitoring.5.5 Performance Measurement.5.6 Portfolio Analysis.5.7 Super REIT.5.8 Summary.5.9 Key Points.References.6.0 Optimising.6.1 People.6.2 Asset Management.6.3 Property and Facilities Management.6.4 Transformation.6.5 Portfolio Rebalancing.6.6 Disposal.6.7 Observing Phase.6.8 Super REIT.6.9 Summary.6.10 REIT Property Investment Decision Making Process.6.11 Key Points.References.