房地产基金

嘉信理财（CharlesSchwab）规模2.28亿美元的全球房地产基金于今年3月首度进军新兴市场。

Charles Schwab 's $ 228m Global Real Estate Fund , made its first foray into emerging markets in March .

摩根士丹利房地产基金（MSREF）第六期国际基金的亏损可能高达54亿美元，之前它已被迫进行减记，或对全球众多投资项目进行清理。

Msref ( Morgan Stanley Real Estate Fund ) VI International could lose as much as $ 5.4bn , having been forced to take writedowns or hand back the keys on a range of investments round the world .

专门投资于印度的美国和英国房地产基金，也希望在aim上市。

Us and UK real-estate funds dedicated to investment in India are also looking to aim .

这一经验对1989年成立的AlpineInternationalRealEstateEquity基金非常重要，这是全球该类型的首个房地产基金。

That experience was critical to the 1989 launch of the Alpine International Real Estate Equity fund , the first-global real estate Offering of its kind .

根据房地产基金协会（associationforrealestatefunds）的数据，2008年第四季度，该行业总回报率为-18.7%，这令去年全年回报率降至-32%。

According to the Association for real estate funds , total returns were - 18.7 per cent in the last quarter of 2008 , taking returns for the full year to - 32 per cent .

第二节从我国金融信托业的发展、REITs的投资主体、我国房地产基金市场、外资不断涌入等方面对我国发展REITs的可行性进行论证。

Section 2 demonstrates the feasibility of China 's based on the development of China 's financial and trust section , investment principal part of our country 's REITs , Real Estate Funds market of China , and increasing of foreign capitals .

最后一次转帐是给一家房地产基金。

The last transaction is to an estate trust .

高盛还将通过白厅房地产基金为投资融资。

The bank will also fund investments through its Whitehall real estate vehicle .

美国房地产基金发展中的三次浪潮

Three upsurges of real estate funds in USA

持续的经济复苏，也将有助于缩减摩根士丹利房地产基金的亏损规模。

A sustained recovery would also help scale back the losses experienced by the Msref fund .

在海外，房地产基金已经是一个发展了数十年、非常成熟的行业。

Abroad , the real estate fund has developed for several years and become a mature industry .

结果是，私人股本和外国房地产基金如今正考虑填补这一融资缺口。

The result is that private equity and foreign property funds are now looking to plug the funding gap .

预计这种情况将很快得到改变，因为黑石正在募集一支100亿美元的房地产基金。

Expect that to be rectified soon , since Blackstone is out raising a $ 10 billion real estate fund .

还有许多开发商也已经与外国基金或私募股权房地产基金的管理公司展开合作。

Numerous other developers also have teamed up with international funds or fund managers for private equity real estate funds .

他说：我们寻求的是稳定的租金回报。梅内蒂指出，养老基金是其房地产基金的大股东。

We are looking for stable returns on rent , he said , noting that pension funds were major shareholders in his property funds .

拉塞尔投资管理公司是一家美国的房地产基金公司，这家公司就是在中国积极寻找投资机会的一个例子，特别是在二线城市寻找机会。

LaSalle Investment Management , a US-based real estate fund , for instance , has been actively seeking opportunities in China , particularly in second-tier cities .

亚洲房地产基金目前留存的未支用资金已超过100亿美元，因这些基金预计该地区房地产市场将出现更严重的低迷期。

Asian property funds are sitting on more than $ 10bn of unspent capital in expectation of a sharper downturn in the region 's real estate market .

广义的私募股权投资基金包括风险投资基金、收购基金、增长型基金、房地产基金和组合基金等。

Generalized private equity investment funds , including venture capital funds , buyout funds , growth fund , real estate fund and the portfolio of the fund etc. .

我们必须为一家拍卖行寻找一位20世纪中国绘画专家，为一家中国投行的中国房地产基金物色一位董事总经理。

We had to find a specialist in 20th century Chinese painting for an auction house , and a managing director for a China Property Fund for a Chinese investment bank .

世邦魏理仕研究，中国的高级主管丹尼表示，今年的国际房地产基金更积极与其中一些有兴趣的商业界合作。

Danny Ma , senior director of CBRE Research China , said international real estate funds are much more active this year , with a number of them interested in the commercial sector .

这一报告发表之际，一批新的全球房地产基金正积极开展募资活动，其中许多基金正在提高亚洲地区的资金配置，以求得益于相对未受信贷危机影响的亚洲经济体。

The report comes during a period of aggressive fund-raising activity for new global property funds , many of which are raising allocations to Asia to gain exposure to economies that are relatively insulated from the credit crisis .

房地产基金在中国有三个阶段，第一是九十年代中到2002年底，他们对中国的房地产很有信心，每年都要对市场进行研究，但是只听没有投入。

Real estate fund in China in three phases , the first in the1990s to the end of2002 is that they have confidence in China 's real estate , every year on the market research , but just did not inputs .

知情人士表示，雷曼出售商业银行业务和风险基金的进度，领先于估算达35亿美元的房地产基金。房地产基金更复杂，也更具有国际性。

The sales of Lehman 's merchant banking and venture funds are further along than the sale of its estimated $ 3.5bn in real estate funds , which are more complex and international in nature , one person close to the matter said .

处置完上述两块业务，雷曼通过选择出售一些包括美国和欧洲商业银行业务、风险资本和房地产基金在内的私人股本业务，在市场上解冻另一层资金以偿还债务。

With that taken care of , Lehman is now in the market to unlock another layer of funds to repay creditors by selling selected pieces of its private equity business , including its US and European merchant banking , venture capital and real estate funds .

施罗德集团在2005年末推出其全球房地产证券基金（globalpropertysecuritiesfund），首次进入散户市场。

Schroders launched its global property securities fund in late 2005 , going into the retail market for the first time .

对发展房地产投资基金的SWOT分析

The SWOT Analysis about Developing Real Estate Investment Trust

借鉴国外的经验，接合我国情况，本论文认为我国已具备发展REITs产品的市场环境，并认为采用开放式房地产投资基金形式的REITs是一条较好的路径选择。

So it is considered that our country has possessed the market environment that develops REITs products , and that it is a good way that REITs adopt an open realty investment fund .

挪威石油基金还作为基石投资者参与了多宗上市交易，其中包括辉山乳业（HuishanDairy）今年11月在香港的13亿美元IPO，以及今年早些时候丰树（Mapletree）旗下中国房地产信托基金在新加坡的13亿美元IPO。

The oil fund was also a cornerstone investor in Huishan Dairy 's $ 1.3bn Hong Kong offering in November , and in the $ 1.3bn Singapore listing of Mapletree 's China real estate trust earlier this year .

最后，在借鉴美国房地产信托基金（REITs）的成功运作经验的同时，结合我国特殊国情对我国信托业在发展房地产投资信托基金的必要性和可行性进行了较为详尽的阐述。

Our country should draw lessons from the mature experience of the REITs 's development in developed country , and set up our own real estate investment trust mode properly according to the situation of our country .

首先揭示我国发展房地产投资基金（REITs）的意义所在，然后深入分析我国在发展REITs过程中所遇到的问题和障碍，并提出若干政策和建议。

This paper firstly described the significance of real estate investment trusts ( REITs ) in China , then analyzed the obstruction to improve REITs in China , and finally pointed out the corresponding countermeasure and advice for reference .