Author:
Rebel A. Cole

Start Page: 107
End Page: 122
Volume: 10
Issue Number: 1
Year: 2007
Publication: Journal of Real Estate Practice and Education

Abstract: This case presents the issues facing Henderson Global Investors as it restructured three closed-end commingled real estate funds. This case provides the instructor with the opportunity to cover a variety of topics: a review of modern portfolio theory, including how to calculate the basic statistics that underlie the theory; an historical perspective on asset class returns, examining how stocks, bonds, and real estate performed as asset classes during the last twenty-five years of the twentieth century; an introduction to institutional investments in real estate, including why institutional
investors should add real estate to an existing stock-and-bond portfolio, and what investment vehicles are available to accomplish this.