부동산 집합투자기구의 자산 매각시점에 영향을 미치는 요인분석

Abstract

This study analyzed the factors affecting the successful sale of real estate by private equity funds. In particular, it was examined through a comparison between the group in which the real estate, which is an operating property, was successfully sold and the group that was not. Previous previous studies focused on the correlation between major economic indicators and the return of real estate funds for the entire duration of real estate funds. However, this study is meaningful in that it attempted to analyze the rate of change in major economic indicators during the actual sale period. As a result of the analysis, it was significantly confirmed that the successful sale of private equity funds was a negative relationship with the level of corporate bond issuance rates, and a negative relationship with the increase in the industrial production index and the bank loan delinquency rate. On the other hand, the housing sales index in Seoul was limited, but it was confirmed that it was a positive relationship. Through this relationship analysis, collective investment businesses that operate private equity real estate funds can devise a timing of sale that can maximize sales profits. In addition, investors are expected to be meaningful to stakeholders, such as being able to use it as a decision-making indicator for the timing of the sale of property by real estate funds.