投资性房地产：上市公司和资金[外文翻译].rar

投资性房地产：上市公司和资金[外文翻译]


中文：4937字      8页
英文：15789字     9页

投资性房地产：上市公司和资金

IESE商学院-那瓦拉大学

摘 要：
在今天欧洲的,有两个主要的载体为间接房地产投资基金和上市房地产公司。这些公司不但大量的投资在房地产市场,还获得了不同的风险和回报。在一些欧洲国家,房地产公司已修改他们的金融结构和税务结构采用基于投资的法律形式(房地产投资信托基金),它起源于美国,这改变了他们的地位。在本文中,我们就地产基金和上市房地产公司的投资分析,及其他们在欧洲房地产业的影响进行讨论。
[关键词]：房地产开发、房地产投资、房地产基金、房地产公司

介绍
因为大量的增加了成熟的投资房地产投资渠道,间接投资实体在日益频繁的转换。这些单位可以采取不同的法律形式及其特点进行投资,但他们往往被分为两大组:公司、房地产投资基金。
本文介绍了大量的在欧洲的主要特点为间接投资工具的上市公司、房地产投资基金。它包括一个跨越国家的比较,这两种类型的载体和直接投资于房地产。

From：[IESE Business School – University of Navarra Avda ]

INVESTMENT IN REAL ESTATE: LISTED COMPANIES AND FUNDS
Abstract ：
 In Europe today, there are two main vehicles for indirect investment in real estate: real estate investment funds and listed real estate companies. With these instruments not only does the investor take a position in the real estate market, he/she also acquires different risk/return structures, which may vary according to the instrument being used. In some European countries, real estate companies have modified their financial structure and tax position by adopting a legal form based on REITs (Real Estate Investment Trusts), which originated in the US; this changes their position compared to real estate funds. In this paper we compare real estate funds and listed real estate companies and analyse the appearance of REITs in Europe and their impact on the real estate industry.

Keywords: real estate, real estate investment, real estate fund, real estate company, REIT