In this paper we discuss the pricing of commercial real estate index linked swaps (CREILS). This particular pricing problem has been studied by Buttimer et al. (1997) in a previous paper. We show that their results are only approximately correct and that the true theoretical price of the swap is...

In this paper we discuss the pricing of commercial real estate index linked swaps (CREILS). This particular pricing problem has been studied by Buttimer et al. (1997) in a previous paper. We show that their results are only approximately correct and that the true theoretical price of the swap is...

I estimate a theoretically and statistically satisfying model to account for the demand for lease renewals for one of the largest Real Estate Investment Trust companies (REIT) in the U.S. The variables that together account for ninety eight percent of the variation in the demand for lease...

This paper offers a detailed discussion on managerial challenges and opportunities related to newly introduced real estate investment trust (REIT) in India. Features of the proposed REIT structure are critiqued in light of the existing body of knowledge about REITs. We revisit the debate...

During the October 2008 fund crisis, approximately one-third of German open-end real estate retail funds, with total assets under management of about EUR 30 billion, were forced to close (suspend share redemptions). A fund closure generally leads to fund liquidation, which poses a serious...

This article reviews the origins, evolution and legal discipline of U.S. Real Estate Investment Trusts (REITs) as a way of comparative contextualization of the new real state market investment listed corporations, set up by Act 1/2009, of October 26

This article proposes a process by which a new national framework for listing real estate investment trusts (REITs) on the Shanghai stock exchange in China could be developed and implemented. It makes some assumptions about the actors involved and the action required, and presents a timeline for...

This paper examines whether unleveraged REITs in Dubai help optimize the risk/return characteristics of a mixed asset portfolio. The performance is also analyzed using Shariah compliant REIT structures incorporating discussion of the performance of REITs operating in a zero-tax environment...

German open-ended real estate funds have net asset values that sum up to €120 bln invested in Germany and abroad. To increase transparency in this dominant investment sector within Germany, IPD has extended the available performance fund indices and now publishes a fund indicator covering the...

This study compares the information content of funds from operation (FFO) and net income (NI) in the real estate investment trust (REIT) industry. We find that models using FFO explain more of the variance in cumulative abnormal returns around earnings announcement dates than models using NI do....