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- Title
Investment Policy for Securitized and Direct Real Estate.
- Authors
Feldman, Barry E.
- Abstract
The article offers a retrospective analysis of implications that real estate allocations in the U.S. have been well below optimal levels as of 2003. Investable commercial real estate equity investments in the U.S. have reached to about $1.7 trillion at the end of 2002. This amount constitutes about 10% of a total of the perhaps $16 trillion U.S. investable equity universe. Despite these figures, most investors held much lower levels of commercial real estate in their portfolios. A survey of institutional investors found that they only manage an average of 3.4% of their assets in equity real estate at the end of 2002.
- Subjects
UNITED States; COMMERCIAL real estate; INDUSTRIAL real estate; REAL property; REAL estate investment; REAL estate investments of financial institutions
- Publication
Journal of Portfolio Management, 2004, p112
- ISSN
0095-4918
- Publication type
Article