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🔗 Source: realestate.wharton.upenn.edu

📊 Size: 117 KB

👤 Author: Michael D Young

⬇️ Downloads: 132

Summary

The equity REIT market experienced significant growth between 1990 and 1997, with 114 new REITs created and market valuation reaching $135 billion. A fundamental shift occurred in the early 1990s, with new REITs differing from old REITs in their structure and operations. New REITs are fully integrated, growth-oriented real estate operating companies, while old REITs were relatively passive long-term asset owners. The new REITs have become low-cost operators, fueling consolidation in the industry, and old REITs must transform to compete. The REIT structure offers tax advantages but also imposes capital and operating restrictions, limiting earnings retention and property trading.

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Description

The equity REIT market experienced significant growth between 1990 and 1997, with 114 new REITs created and market valuation reaching $135 billion.

Technical Information

File Format: PDF
File Size: 117 KB
Pages: 42
Language: EN
Author: Michael D Young
Total Downloads: 132
Last Updated: 1 week ago

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