《金融专业英语》课件-Chapter-8-Real-Estate-Finance.pptVIP

* Real Estate Investment Trust (房地产投资信托基金） A real estate investment trust (REIT) is created when a corporation (or trust) is formed to use investors money to purchase, operate and sell income-producing properties. REITs are bought and sold on the major exchanges, just like any other stock. 房地产投资证券化，房地产成为公开交易工具 Real Estate Mutual Funds（房地产共同基金） Real estate mutual funds invest primarily in REITs and real estate operating companies. They provide the ability to gain diversified exposure to real estate with a relatively small amount of capital. 房地产共同基金提供了用相对较少的资本获得多样化房地产投资的能力 8.4 Commercial Real Estate What Is Commercial Real Estate Lease Lowdown Commercial Real Estate Classifications Commercial Real Estate Firms What Is Commercial Real Estate Commercial real estate is property that is used exclusively for business purposes and that is leased out to provide a workspace rather than a living space. 商业房地产专门用于商业目的，出租用途是工作场所而非生活空间。 Lease Lowdown（租赁的实际情况） Leases can run from one year to 10 years or more, with office and retail space typically averaging from 5 to 10 years. There are four primary types of commercial property leases, each requiring different levels of responsibility from the landlord and the tenant. First, a single-net lease makes the tenant responsible for paying property taxes. Second, a double-net (NN) lease makes the tenant responsible for paying property taxes and insurance. Third, a triple-net (NNN) lease makes the tenant responsible for paying property taxes, insurance and maintenance. And fourth, under a gross lease, the tenant pays only rent, and the landlord pays for the buildings property taxes, insurance and maintenance. 租赁期限1-10年或更长，三重净租赁由租户承担房产税、保险和维护费用。 Commercial Real Estate Classifications（商业房地产分类） Commercial real estate is categorized into different classes. Office space, for example, is divided into one of three classes: class A, class B or class C. Class A represents the best buildings in terms of aesthetics, age, quality of infr