History and Evolution
There is a long history of institutional investment in real estate both through direct ownership of property and through pooled investment funds. Initially institutional real estate investments were in core real estate, however, market conditions in the early 1990s led to the emergence of opportunistic funds which aimed to take advantage of falling property prices to acquire assets at significant discounts. Private equity real estate emerged as an independent asset class in the beginning of the 21st century and has experienced huge growth in recent years.
Read more about this topic: Private Equity Real Estate
Famous quotes containing the words history and/or evolution:
“History has neither the venerableness of antiquity, nor the freshness of the modern. It does as if it would go to the beginning of things, which natural history might with reason assume to do; but consider the Universal History, and then tell us,—when did burdock and plantain sprout first?”
—Henry David Thoreau (1817–1862)
“By contrast with history, evolution is an unconscious process. Another, and perhaps a better way of putting it would be to say that evolution is a natural process, history a human one.... Insofar as we treat man as a part of nature—for instance in a biological survey of evolution—we are precisely not treating him as a historical being. As a historically developing being, he is set over against nature, both as a knower and as a doer.”
—Owen Barfield (b. 1898)