TY  - JOUR
AB  - In the summer of 2013, Whitney DeSoto had just been hired as managing director for real assets at the Overton Pension Fund (OPF). Her task was to provide recommendations to the board of trustees to introduce real estate into the fund's portfolio, which to date had been invested solely in stocks and bonds. Combining her knowledge of modern portfolio theory with her institutional expertise in real estate, DeSoto needed to decide what fraction of the fund should optimally be invested in real assets. She then faced the task of deciding whether to invest in public or private real estate. If she thought private real estate belonged in the portfolio, she would need to identify the best investment strategy, the best vehicle, and ultimately the specific investments to recommend.Apply modern portfolio theory to the investment decision of an institutional investor allocating its assets between stocks, bonds, and real estateUnderstand the limits of portfolio theory in a real estate contextAnalyze the benefits/costs of investments in both public and private real estateUnderstand the various vehicles in which one can invest in private real estateArgue for a set of investments that offer individual benefits/costs relative to a theoretically ideal investment
VL  - 
IS  - 
SN  - 2474-6568
DO  - 10.1108/case.kellogg.2016.000365
UR  - https://doi.org/10.1108/case.kellogg.2016.000365
AU  - Furfine Craig
PY  - 2017
Y1  - 2017/01/01
TI  - The Search for Property: Institutional Investment in Real Estate
T2  - Kellogg School of Management Cases
PB  - Kellogg School of Management
SP  - 1
EP  - 18
Y2  - 2024/04/25
ER  -