International real estate investments by US pension and endowment funds

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 The paper begins with a review of published and unpublished literature on the subject, followed by analysis of an investor survey conducted by the author.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.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2004

Author dc:creator

• Mullins, Michael J., 1975-

Advisor dc:contributor.advisor

• David Geltner.

• Urban Studies and Planning.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

en_US

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/26736

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/26736