Listed versus Unlisted Real Estate Investments
Garay, U. “Listed versus Unlisted Real Estate Investments.” In Kazemi, H.; Black, K.; and D. Chambers (Editors), Alternative Investments: CAIA Level II, Chapter 17, Wiley Finance, 3rd Edition, 2016, pp. 423-449.
34 Pages Posted: 28 Aug 2020
Date Written: February 1, 2016
This chapter examines the main unlisted real estate funds available (openend funds and closed-end funds), as well as the most important listed real estate funds (REITs and ETFs based on real estate indices). The chapter also analyzes the extent to which analysis of publicly traded real estate may be used to provide information on the risks and returns of private real estate, and offers an empirical analysis of the differences between the returns of listed (market-based) real estate and those of private (appraisal-based) real estate.
Keywords: Real estate, listed, unlisted, alternative investments
JEL Classification: G11, G12, G14
Suggested Citation: Suggested Citation