Successor Private Equity Funds: Evidence from Non-Listed Real Estate Funds

2013 ◽  
Author(s):  
Siem Aarts ◽  
Andrew Baum

Author(s):  
Knut Unger

The article describes the development of large listed landlords in Germany (like Vonovia SE) as a specific form of the financialization of housing. Since the end of the 1990s, large stocks of the fordistic and state-socialist housing infrastructures in Germany were sold to Private Equity Funds. After the German recovery from the global financial crisis the fund managers organized the exists through public offerings. Since then a heavy concentration process has taken place that reaches transnational dimensions. The author proposes to call this process “financialized industrialization of corporate housing business”. Integrated into global financial markets and using IT, the public listed real estate companies subjugate trade, facilitation, management, renting and production of housing to standardized financial calculations and automated processes. However, the “real subsumption” of tenants to real estate capital also gives rise to social protests and reclaims.



2017 ◽  
Vol 21 (4) ◽  
pp. 151-159 ◽  
Author(s):  
Sònia Vives-Miró ◽  
Aaron Gutiérrez

AbstractUsing the paradigmatic example of Catalunya Banc, this paper analyses the Spanish varieties of the new financial engineering used to appropriate urban rent by home dispossession. It aims to contribute to the study of the new forms of financialization that have appeared since 2008. Particular attention is given to the role of the state, the emergence of private equity funds as global real estate owners and how this has translated into a wave of evictions due to mortgage foreclosures. In short, this article highlights the implications of the uneven development resulting from the exhaustion of the so-called Spanish model of accumulation during the real estate boom years.



Author(s):  
Michael Trübestein ◽  
Stefan Walldorf


2004 ◽  
Vol 3 (3) ◽  
pp. 229-235 ◽  
Author(s):  
Daniel E. Larkin ◽  
Mara L. Babin ◽  
Christopher A. Rose


2017 ◽  
Vol 19 (6) ◽  
pp. 1-32
Author(s):  
Axel Buchner


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