Real Estate Investment Trusts In The Commercial Real Estate

2002 known as the first year of commercial real estate, the commercial real estate is concerned by society because of the emerging of the real estate industry in this year. Various forms of "MALL" inspired by Wanda of Dalian orders patterns of the commercial real estate and began to spread rapidly in Beijing, Shanghai, Guangzhou, Shenzhen and other places.However, for China, the commercial real estate is a new thing, it lacks theory guidance for the development. A lot of problems arose in the operation which is against of the law of real estate operation, greatly reduced the probability of success of commercial real estate and increase the investment risk. This paper is from the various issues that arising in the course of operation of the commercial real estate development. Of these problems shortage of funds is one of the most important factors. On this basis, this paper points out that resolving the problem of the shortage of funds is a real estate investment trust. So, real estate investment trust was introduced to China, and it has theoretical significance and practical significance.This paper is divided into six chapters.Chapter I introduced the background of this paper, the purpose of the study, and the concept of the commercial real estate were defined.Chapter II focuses on the existing problems of China's commercial real estate operation. The combination of the actual situation of commercial real estate development operation and characteristics of commercial real estate let us find that thinking of commercial real estate with residential development, commercial and real estate separation, we neglect operational phase management, one of the important factors led to these problems is a shortage of funds.Chapter III will be mainly on the introduction of real estate investment trusts and China's commercial real estate point of view. First, starting with the problem of shortage of funds, we simply analyzed the Chinese traditional financing model and its shortcomings, and proposed that real estate investment trust will used in Chinese commercial real estate; then introduced a real estate investment's definition, development, classification, characteristics, mode of operation and other related concepts; Finally, it is a real estate investment trust statement on the development of Chinese commercial real estate role.Chapter IV is on the basis of Chinese actual conditions, mainly on real estate investment trusts exist in China's legal development that system, personnel, product performance and other barriers to flow analysis, and then developed REITS proposed special law, reform our tax system, fostering institutional investors and enhance the quality of employees, and other related measures.Chapter V discussed the application of the real estate investment trust of Chinese commercial real estate model, and it make sense for Chinese real estate investment trust.Chapter VI as part of the end of this article, describing the development trend of China's commercial real estate on the basis of expression of hope as soon as possible and the introduction of real estate investment trusts commercial real estate aspirations.There are much research about the real estate investment trust and studies relating to commercial real estate in the country, some scholars have pointed that real estate investment trust funds can be applied to commercial real estate perspective, but the points are relatively simple which just noted that using the real estate investment trust settled the commercial real estate financing. In this paper, the innovation lies in the commercial real estate through real estate investment trusts and deeply studied to find the combination of the two, not only proved a real estate investment trust can solve our problem of financing of commercial real estate, but also from another angle demonstrated a real estate investment trust played a great role in the development of Chinese commercial real estate.In this paper, there are still some deficiencies, such as the lack of theoretical research on commercial real estate in China's mode of operation have not studied in depth, and other issues.