Post-conference Day (parallel to Investor Showcase): Thursday 30 March 2006 FUNDAMENTALS OF LAUNCHING A REIT– STRUCTURING, UNDERWRITING AND EXECUTING
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08.00	Registration will be at 8am. The Masterclass will run from 9.00am through to 12.30pm. Morning refreshments will be served at 10.30am. Topics will include   Features of REITs What is a REIT? What does a REIT invest in? How is income distributed? How does REIT increase in value? How is REIT governed? Reasons for establishing a REIT Launching a REIT Portfolio Selection Size of portfolio Property diversification Yield of portfolio Structuring a REIT What properties should you include? Gearing Management Fee Legal/Execution issues Accounting/Financial Statements Listing Location Tax consideration Disclosures Investor Marketing REITs versus other real estate investment vehicles Comparing and contrasting REITs with direct property ownership, real estate company equity, corporate property bonds Differences and similarities in terms of payout, investment strategy, liquidity, diversity, risk and gearing