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dc.contributor.advisorDavid Geltner.en_US
dc.contributor.authorCai, Yiming, S.M. Massachusetts Institute of Technologyen_US
dc.contributor.otherMassachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.en_US
dc.coverage.spatiala-cc---en_US
dc.date.accessioned2018-02-08T16:25:59Z
dc.date.available2018-02-08T16:25:59Z
dc.date.copyright2017en_US
dc.date.issued2017en_US
dc.identifier.urihttp://hdl.handle.net/1721.1/113485
dc.descriptionThesis: S.M. in Real Estate Development, Massachusetts Institute of Technology, Program in Real Estate Development in conjunction with the Center for Real Estate, 2017.en_US
dc.descriptionCataloged from PDF version of thesis.en_US
dc.descriptionIncludes bibliographical references (pages 69-70).en_US
dc.description.abstractAs China's elderly population grows at an accelerating rate, investors from a wide range of industries have entered the senior housing market and view it as a "sunrise industry" which can offer attractive returns for investors. Today, growth in China's senior housing market is presents both tremendous opportunities and challenges. On the other hand, due to the large capital required, long investment cycle and steady capital inflow toward the middle or the end of the projects, an alternative financing method is required to meet the rapid development of senior housing in China. REITs (Real Estate Investment Trusts), allowing anyone to invest in portfolios of large-scale properties through the purchase of stock, are a great alternative source for financing. This thesis reviews the background and current market of senior housing in China and discusses the key points in this industry, especially the ways of project to finance. Then, REITs are introduced in terms of history, pros and cons, valuation, and challenges. A case of a US leading health care REIT is conducted, with a comparison to the current quasi-REITs in China. Finally, the general strategy and structure of senior housing REITs are discussed. Based on this study, REITs clearly fit the current and future needs of senior housing sector in China. Although China's capital market is not completely ready to adopt REITs with international standards, China should pursue the experiment of such practice amid the challenges.en_US
dc.description.statementofresponsibilityby Yiming Cai.en_US
dc.format.extent70 pagesen_US
dc.language.isoengen_US
dc.publisherMassachusetts Institute of Technologyen_US
dc.rightsMIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission.en_US
dc.rights.urihttp://dspace.mit.edu/handle/1721.1/7582en_US
dc.subjectCenter for Real Estate. Program in Real Estate Development.en_US
dc.titleThe use of REITs as an alternative source to finance senior housing development in Chinaen_US
dc.title.alternativeUse of Real Estate Investment Trusts as an alternative source to finance senior housing development in Chinaen_US
dc.typeThesisen_US
dc.description.degreeS.M. in Real Estate Developmenten_US
dc.contributor.departmentMassachusetts Institute of Technology. Center for Real Estate. Program in Real Estate Development.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Center for Real Estate
dc.identifier.oclc1019907950en_US


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