Real estate investment trusts (REITs) make commercial real estate profits available to everyone! REITs are one of the hottest and most potentially lucrative investment vehicles in the market today. Find out how you can take advantage of these increasingly popular securities in the powerful new book Real Estate Investment Trusts. Professionals Richard T. Garrigan and John F.C. Parsons have gathered over 20 of todayÕs most influential opinion leaders to explain how investors both large and small are beating the S&P 500 with REITs, how these REITs combine superior income and growth with relative safety, behind-the-scenes information on how to assemble and launch a successful REIT, and statistical support for market confidence in the long-term appreciation potential of REITs. Whether you are a real estate investment professional seeking comprehensive information on todayÕs REIT operational requirements; an investment professional needing to better understand REITs; or an individual investor interested in diversifying your own portfolio into real estate, Real Estate Investment Trusts will open your eyes to the incredible opportunities available in todayÕs REIT market. Order this well-researched, interesting and informative book today.
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Book Description
Editorial Reviews
From the Back Cover
Your complete sourcebook on REITs, the Modern Way to Invest in Real Estate. ``The rapid growth of the REIT market has made most books on the subject obsolete. This comprehensive work is a valuable source of up-to-date information for investors and issuers.''--Dr. Michael Giliberto, Head of Real Estate Research, J. P. Morgan Investment Management. ``Real Estate Investment Trusts is the first book in a new era of real estate. Richard Garrigan and John Parsons have assembled the most comprehensive account to date of how publicly traded REITs are revolutionizing our industry.''--Mark S. Whiting, President & CEO, TriNet Corporate Reality Trust, Inc. ``This is the best source of its kind I have seen for REIT investors and managers. It covers an extremely wide range of topics in tremendous depth.''--Ned Spieker, Chairman and CEO, Spieker Properties, Inc. ``I thoroughly recommend this comprehensive book as the best guidance available today from REIT industry experts. It should be required reading for those investing in or forming a REIT.''--Roger C. Franz, Principal Real Estate Investment Officer, CALPERS. As the real estate industry heads into the next millennium, Real Estate Investment Trusts have emerged as the modern vehicle of the ownership of real property. Real estate professionals as well as individual and institutional investors, can now turn to one dependable, comprehensive source of information on REITs. In Real Estate Investment Trusts, real estate experts Richard T. Garrigan and John F. C. Parsons have assembled leading practitioners to author chapters that discuss: the explosive growth of the REIT market; REIT business and financial strategies; REIT protfolio management strategies; the regulatory environment for REITs; how institutional investors can benefit from REIT investments. For complete and up-to-date REIT information, Real Estate Investment Trusts is an ideal reference book.
About the Author
Richard T. Garrigan is a professor of finance at DePaul University Graduate School of Business and is president of Richard T. Garrigan and Associates, Inc. He is also the co-editor of The Handbook of Mortgage Banking (Dow Jones-Irwin). John F.C. Parsons is founder and managing director of MacGregor Associates, which provides consulting services to institutional real estate organizations. His opinions have appeared in The Wall Street Journal, Mortgage Banking, and Pension World.
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Most Helpful Customer Reviews
16 of 17 people found the following review helpful:
2.0 out of 5 stars
Dull and disappointing,
By
Amazon Verified Purchase(What's this?)
This review is from: Real Estate Investment Trusts: Structure, Analysis and Strategy (Hardcover)
I bought this book because I am an investor in REITS and wanted to get a deeper insight into comparing different REITs to find the best ones to invest in. I wanted to be able to read the balance sheets of several different REITs and decide which is the better investment. This book left me bored and no further forward.
The main problem is that each chapter is written by a different "expert" on a particular topic such as "Asset Allocation" or "Institutional Investing". Firstly these experts may be great money managers but they are dull writers without a jot of personality. The chapter on Tax Treatment of REITs is a lifeless regurgitation of the tax code. Worse, the editors did not steer each contributor strictly enough to avoid repetition and as a result every chapter begins with yet another review of REIT history. There was no analysis of different REIT business models, such as trading CMOs compared with Residential or Office space. There is no analysis of how to tell good REIT managers from ordinary ones. I was optimistic about the chapter on Asset Allocation to see how REITs fit in with stock and bonds in your portfolio but again I was disapppointed. After grinding through page after page differential equations the chapter fizzled out with no mention of reccomended asset allocation ratios. I gave the book 2 stars instead of none because the data seems to be accurate and authoritative but then so is the maintenance manual for my vacuum cleaner. A $75 book has a duty to do more than assemble boring facts in sequence. I don't really know who this book is targeted towards. If you are going to be a junior paper pusher employed by a REIT it may give you a head start but the rest of the planet should look somewhere else.
31 of 39 people found the following review helpful:
4.0 out of 5 stars
An excellent overview of the REIT Industry,
By BDFORD@AOL.COM (Philadelphia, PA USA) - See all my reviews
This review is from: Real Estate Investment Trusts: Structure, Analysis and Strategy (Hardcover)
The book provided an insightful overview of the REIT industry. The book was organized by various topics relating to investing and managing a REIT. The chapters were written by practioners and academics working in the different REIT industry areas. The authors were able to provide vital insights into their areas of expertise. As a new REIT employee I learned about the challenges and opportunities that lie ahead for my company and the REIT industry as a whole. some of the chapters were a bit technical in nature; particularly the analysis on historical private verses public REIT returns. Overall the book should be required reading for REIT investors and Managers as well.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
The most comprehensive book on REITs,
By
This review is from: Real Estate Investment Trusts: Structure, Analysis and Strategy (Hardcover)
I think this is the most comprehensive book on Real Estate Investment Trusts. The chapters are written by different experts of the industry. But, I have to warn you that it is not an easy read. I think people who are going to benefit the most from this book are serious investors and real estate professionals. While other books mainly talk about REITs as investment securities, I really liked that this book did more because it offered guidance on how to start your own REIT and what it takes to take it public. I also liked the description of different players, such as life insurance companies and pension funds, and why they invest in REITs. The section on the financial analysis of REITs was also very good.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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Inside This Book
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First Sentence:
An extraordinary change has taken place in the United States that has rechanneled and restructured the flow of capital into commercial real estate. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
traditional mortgage debt, percent income test, foreclosure income, income return component, private market factor, listed property companies, operating partnership units, real estate operating companies, deficiency dividend, resale registration statement, estate investment trust industry, base prospectus, real estate operating company, rents from real property, public real estate, real estate factor, implied discount rate, changing interest rate environment, umbrella partnership, apportionment factors, real estate returns, private real estate companies, funds from operations, real estate perspective, real estate model Key Phrases - Capitalized Phrases (CAPs): (learn more)
Securities Act, United States, New York, Hong Kong, Wilshire Small Value, Exchange Act, Internal Revenue Code, Wilshire Next, United Kingdom, Style Benchmarks, Size Benchmarks Wilshire Top, Standard Benchmark, Property Index, Wall Street, Bond Benchmarks, Dow Jones, Morgan Stanley, Company Announcement, Dean Witter, Department of Revenue, National Association of Corporate Directors, New Hampshire, Salomon Brothers, Taubman Centers, Advisory Committee New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
An extraordinary change has taken place in the United States that has rechanneled and restructured the flow of capital into commercial real estate. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
traditional mortgage debt, percent income test, foreclosure income, income return component, private market factor, listed property companies, operating partnership units, real estate operating companies, deficiency dividend, resale registration statement, estate investment trust industry, base prospectus, real estate operating company, rents from real property, public real estate, real estate factor, implied discount rate, changing interest rate environment, umbrella partnership, apportionment factors, real estate returns, private real estate companies, funds from operations, real estate perspective, real estate model Key Phrases - Capitalized Phrases (CAPs): (learn more)
Securities Act, United States, New York, Hong Kong, Wilshire Small Value, Exchange Act, Internal Revenue Code, Wilshire Next, United Kingdom, Style Benchmarks, Size Benchmarks Wilshire Top, Standard Benchmark, Property Index, Wall Street, Bond Benchmarks, Dow Jones, Morgan Stanley, Company Announcement, Dean Witter, Department of Revenue, National Association of Corporate Directors, New Hampshire, Salomon Brothers, Taubman Centers, Advisory Committee New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 14
books:
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1
book
cites this book:
- Real Estate by George F. Bloom on page 336, page 406, and page 407
- State Taxation by Jerome R. Hellerstein on page 151, and page 152
- Real Estate: Aspen Roadmap Law Course Outline (Aspen Roadmap Law Course Outlines) by Robin Paul Malloy on page 21, and page 435
- Real Estate by James D. Shilling on page 336, and page 337
- Real Estate Finance by C. F. Sirmans on page 337
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