Wei, Jiangting
(2007)
UK REAL ESTATE INVESTMENT TRUSTS.
[Dissertation (University of Nottingham only)]
(Unpublished)
Abstract
Abstract
The importance of studying reits is evidenced by more than two hundred studies. The literatures on reits can be separated into three major research topics, which are investment decisions, financial decisions, and return and risk issues. However, the abundance of research and studies was based on the matured US reits market. There is relatively less literature on the UK real estate investment trust market. Especially, the UK introduced its own reits on 1 January this year. Lots of large property companies have converted themselves to reits, such as Big Yellow, British Land, Brixton, Derwent London, Great Portland Estate, Hammerson, Land Securities Group plc, Liberty International, Local shopping REIT, McKay Securities, Mucklow (A&J) Group, Primary Health Properties, SEGRO Slough Estates Group, Shaftesbury, Warner Estate Holdings, and Workspace Group (alphabetical order). Also, there are companies which are considering launching a reit or some UK quoted property companies unlikely to launch a reit for
various reasons. Therefore, I feel it is worth the effort to conduct my research on the UK reits practices, their conversion process and challenges, as well as their performance after conversion. Updating with the real estate financial market, the impacts of US sub prime mortgage crisis on the UK real estate investment trust are also examined.
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