What is the institutional landscape of real estate ownership in the United States?
This notes describes the institutional landscape of real estate ownership. Because persons other than their formal owners today manage most large-scale properties, this note emphasizes the nature and structure of arrangements between owners and managers. It is organized into three main sections: the attributes of real property ownership; the importance of management expertise to the performance of real estate investments; and a review of the fundamental characteristics of different legal vehicles for real property ownership.
Case ID: 171703