Real Estate Investment Trusts: Structure, Analysis and Strategy (Hardcover)

~ Richard Garrigan (Author), John Parsons (Author) "An extraordinary change has taken place in the United States that has rechanneled and restructured the flow of capital into commercial real estate..." (more)
Key Phrases: traditional mortgage debt, percent income test, foreclosure income, Securities Act, United States, New York (more...)

Editorial Reviews

Product Description

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 todayOs 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 todayOs 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 todayOs REIT market. Order this well-researched, interesting and informative book today.

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.

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Product Details

• Hardcover: 448 pages
• Publisher: McGraw-Hill; 1 edition (September 1, 1997)
• Language: English
• ISBN-10: 0786300027
• ISBN-13: 978-0786300020
• Product Dimensions: 9.1 x 5.8 x 1.2 inches
• Shipping Weight: 1.8 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon.com Sales Rank: #69,091 in Books (See Bestsellers in Books)

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Customer Reviews

Most Helpful Customer Reviews

13 of 14 people found the following review helpful:

2.0 out of 5 stars Dull and disappointing, June 11, 2005

By	Peter Butler (Colorado) - See all my reviews (REAL NAME)

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.

30 of 38 people found the following review helpful:

4.0 out of 5 stars An excellent overview of the REIT Industry, July 17, 1999

By	[e-mail] (Philadelphia, PA USA) - See all my reviews

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.