Definition of Real Estate Investment Management (REIM) Services: A Guideline Report from the REIM Working Group of Gif E.V. (German Society of Property Researchers)

Abstract This study analyzes changes in timberland ownership from 2003 to 2012 across the northern United States based on Forest Inventory and Analysis data identified according to five ownership categories. A total of 26,940 FIA plots that were remeasured between selected years were used for the analysis. Publicly available corporate ownership data were investigated and used to differentiate industrial and institutional (timber investment management organizations [TIMO] and real estate investment trusts [REIT]) ownership. Kernel density, Ripley’s K-function, and multinomial logistic regression (MLR) methods were used to study spatial patterns of timberland ownership and to explore statistical relationships. Among FIA plots showing ownership changes, the largest observed shift was from industrial to institutional ownership, with a 45% increase in the number of plots, equivalent to almost 1.4 million acres of timberland area. Bivariate Ripley’s K-function showed significant clustering for shifts between industrial and institutional ownership. A MLR model identified forest type as a significant factor associated with the transition of industrial timberlands to either institutional or family forest ownership. In addition, shifts from industrial to institutional ownership were related to road access and population density. Study Implications For the past few decades, we have seen an unprecedented trend of change in timberland ownership in the United States, particularly the divesture and change of traditional vertically integrated forest product companies into institutional ownership, i.e., timber investment management organizations (TIMOs) and real estate investment trusts (REITs). In this situation, key research questions to ask are where are these changes taking place in spatial terms and what are their possible linkages with different socio-economic and forest related factors. Such knowledge will help devise policy strategies to monitor and understand the affects of changing timberland ownership on future forest resources.

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A Novel Assessment Algorithm Based on Grey AHP

Applied Mechanics and Materials ◽

10.4028/www.scientific.net/amm.26-28.269 ◽

2010 ◽

Vol 26-28 ◽

pp. 269-272

Author(s):

Yan Cang Li ◽

Juan Juan Suo ◽

Shu Jing Zhou

Keyword(s):

Real Estate ◽

Theory And Practice ◽

Assessment System ◽

Statistic Analysis ◽

Investment Management ◽

Real Estate Investment ◽

The Real ◽

The Real Estate ◽

Investment Evaluation ◽

Hierarchical Assessment

In order to find a more effective method for real estate investment evaluation, the grey AHP is applied and hierarchical assessment system is presented. First, the grey-relevant method is employed to evaluate the profit of the investment. During quantifying the qualitative indexes, set-valued statistic analysis is introduced, which reduces the uncertainty of the real estate investment assessment. A case shows that the method is feasible and valid. This study has significance in theory and practice for the real estate investment management.

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Decisions, decision-making, and decision support systems in real estate investment management

10.15396/eres2015_215 ◽

2015 ◽

Author(s):

Carsten Lausberg ◽

Patrick Krieger

Keyword(s):

Decision Making ◽

Decision Support ◽

Real Estate ◽

Decision Support Systems ◽

Support Systems ◽

Investment Management ◽

Real Estate Investment

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Obstacles to comprehensive real estate asset management

Journal of Financial Management of Property and Construction ◽

10.1108/jfmpc-05-2020-0036 ◽

2020 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Dustin C. Read ◽

Danielle Claire Sanderson

Keyword(s):

Real Estate ◽

Asset Management ◽

Management Practices ◽

Conflicts Of Interest ◽

Investment Management ◽

Real Estate Investment ◽

Knowledge Gaps ◽

Content Type ◽

Organizational Inertia ◽

The Usa

Purpose Motivated by behavioral theories of the firm, this study aims to consider the extent to which knowledge gaps, organizational inertia and conflicts of interest prevent large real estate investment management firms from approaching asset management in a comprehensive manner. Design/methodology/approach Results of 93 semi-structured interviews conducted with real estate practitioners working in the USA are thematically analyzed. Findings All of the aforementioned factors are found to influence real estate asset management practices and serve as potential obstacles to operational excellence. Research limitations/implications The qualitative analysis is limited in the sense that it focuses exclusively on the perceptions of real estate practitioners in the USA who work for relatively large organizations. However, it offers compelling evidence that comprehensive asset management is difficult under the best of circumstances, and becomes even more so in the presence of knowledge gaps, organizational inertia and conflicts of interest. Practical implications Those working in asset management or with asset managers must be mindful of the obstacles discussed if they hope to encourage and facilitate process improvement. Originality/value The study contributes to a small but growing, body of research examining the challenges large real estate investment management firms face when trying to derive value from their asset management platforms.

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Dynamics of Large Corporate Forestland Ownerships in the United States

Journal of Forestry ◽

10.1093/jofore/fvab013 ◽

2021 ◽

Author(s):

Emma M Sass ◽

Marla Markowski-Lindsay ◽

Brett J Butler ◽

Jesse Caputo ◽

Andrew Hartsell ◽

...

Keyword(s):

United States ◽

Real Estate ◽

Analysis Data ◽

The United States ◽

Real Estate Investment Trusts ◽

Investment Management ◽

Real Estate Investment ◽

Forest Ownership ◽

Investment Trusts ◽

Timber Investment Management Organizations

Abstract Ownership of forestland in the United States has changed in recent decades, including the proliferation of timber investment management organizations (TIMOs) and real estate investment trusts (REITs), with the potential to alter forest management and timber supply. This article quantifies forest ownership transitions among ownership categories between 2007 and 2017 and investigates how and why large corporate ownerships own and manage their forestlands. Ownership transitions were determined from refined USDA Forest Service, Forest Inventory and Analysis data; we also conducted a survey of large corporate forestland ownerships. Corporate forestland acreage increased between 2007 and 2017, while family and public forestland decreased. Large corporate landowners report multidimensional, financially focused land management, although industry, timber investment management organizations, real estate investment trusts, and other owners report some different motivations and income streams. This work provides a baseline to track future ownership transitions and the behaviors of large corporate forestland owners.

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