International real estate investments by US pension and endowment funds
Author(s)Mullins, Michael J., 1975-
Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.
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The last decade has seen a renewed interest and resurgence in private IRE investments by US institutional investors. Pension Plan Sponsors and Endowment Funds have sought out foreign real estate to accomplish a variety of goals, such as increased diversification, higher returns, and the pursuit of unique investment opportunities. This thesis attempts to shed light on the current state of IRE investing by such investors. The paper begins with a review of published and unpublished literature on the subject, followed by analysis of an investor survey conducted by the author. A total of 14 Pension Fund Plan Sponsors, Endowment Fund managers, Pension Fund Consultants, Fund Managers, and Investment Managers participated in the study. The results of the survey describe what the current investment practices of US institutional investors are, what reasoning is behind those practices, and what their future investment plans are. The last portion consists of conclusions about these findings and a discussion of future trends in IRE investing may emerge as a result.
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2004.This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.Includes bibliographical references (leaves 55-56).
DepartmentMassachusetts Institute of Technology. Dept. of Urban Studies and Planning.
Massachusetts Institute of Technology
Urban Studies and Planning.