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Real Estate Investment Funds & Infrastructure Investment Fund - Concept (REITs and InvITs)
What is Real Estate Investment Trust (REIT)?
is an investment vehicle that pools money from many investors — the way a mutual fund does — and uses the pool to buy a portfolio of income-yielding real-estate assets (chiefly Grade-A office parks, malls, warehousing).
Sponsor — Role / Analogous to?
Role: Establishes the trust; brings in seed real-estate assets; like a promoter of a company; Analogous to: Promoter / Founder
Trustee — Role / Analogous to?
Role: Holds the real-estate assets of the trust in trusteeship; protects unit-holder interest; assets are no longer directly controlled by the Sponsor; Analogous to: Custodian / Guardian
Special Purpose Vehicle (SPV) — Role / Analogous to?
Role: A domestic company that holds the real-estate assets on behalf of the REIT; the trust must hold ≥ 50 % of the equity in the SPV; Analogous to: Operating subsidiary
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