Understanding Real Estate Understanding Real Estate
Understanding Real Estate Understanding Real Estate
Understanding Real Estate Understanding Real Estate
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Future Of Securitization<br />
Why securitization stalled<br />
‣ Private market capital was cheap and plentiful<br />
‣ Private market provided:<br />
• Highest price<br />
• Control<br />
• Tax efficiency<br />
‣ Decline in stock prices shut down IPO market<br />
Why we believe securitization will accelerate<br />
‣ Dearth of capital in private market<br />
‣ Recapitalizations<br />
‣ Need for acquisition funding<br />
‣ IPOs<br />
Key factors for growth<br />
‣ Shareholder-friendly corporate structures/conflict management<br />
‣ Good governance<br />
Cohen & Steers analysis and expectations<br />
CPRET8309_OS
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