Abstract
While the first REITs, as we know them today, were only created in 1961, after the promulgation of the Real Estate Investment Trust Act (Bailey, 1966), the current real estate investment trusts (REITs) originated from the business trust that first appeared in Massachusetts around 1850. The great market success of REITs can be ascribed to their low correlation with the performance of other financial instruments (mainly bonds and shares) and the link between their performance and that of direct real estate investments (Giliberto, 1990).
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© 2014 Gianluca Mattarocci
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Mattarocci, G. (2014). Real Estate Investment Trusts. In: Anomalies in the European REITs Market. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137390929_2
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DOI: https://doi.org/10.1057/9781137390929_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-48281-8
Online ISBN: 978-1-137-39092-9
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