Book Details


Real Estate Investment Trusts and Joint Ventures / Julian Eibel

Publication year: 2020

ISBN: 978-3-658-31977-9

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Studies the contribution of joint venture (JV) use as means of financing flexibility against the background of diverse financial restrictions in the institutional and regulated environment of the REIT Act. After reviewing JV motives for classical corporations, the real estate and REIT industry as well as the financing and capital behavior of REITs, the author finds JVs to result from REIT managers’ need of financing flexibility to allow timely funding outside regulated markets. Thus, he argues JVs mitigate financing restrictions and stimulate capital markets to regain access to classical financing. Contents : Joint Ventures Motives in Classical Corporations and REITs: Same or different? Why the REIT Act, REIT Capital Structure, and Diversification Needs call for Joint Venture Use REIT Joint Venture formations as means for financial flexibility to capture market timing opportunities The Role of REIT Joint Ventures to Market Timing and Capital Structure Considerations

Subject: Corporate Finance, Management, Capital Markets, Real Estate Investment Trusts, Real Estate Joint Ventures, Real Estate Management, Macroeconomics, Stock price management, Secondary equity offering, Alternative financing instruments, Financial flexibility, Growth and refinancing strategy, Joint venture strategy, Strategic finance, Finance and strategy interrelation