Euromoney Liquid real estate March 2007
The Australian listed property trust (LPT) market – LPTs are not, strictly speaking, Reits, although the differences are subtle – is one of the most sophisticated listed property markets in the world. Bankers say that as much as 80% of suitable property in Australia is already securitized. It presents a useful case study in how such a market evolves over time. “We believe there is a Reit lifecycle,” says Simon Jones, co-head of real estate capital at Macquarie Bank.
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