Resumen

SANFELICI, Daniel. The financial industry and the real estate trusts in Brazil: investment logics and territorial dynamics. Econ. soc. territ [online]. 2017, vol.17, n.54, pp.367-397. ISSN 2448-6183.  https://doi.org/10.22136/est002017685.

Real estate investment trusts (REITs) recently gained prominence in commercial real estate investment in Brazil. This paper looks into REITs’ growth with two basic aims. First, the regulatory and economic context that enabled their growth is explored. Second, the territorial implications of their investment decisions is considered. The paper’s key finding is that the financial logic that underlies the creation of REITs explains, on the one hand, the instability that beset their growth cycle and, on the other, the territorial concentration of their investments.

Palabras llave : real estate investment trusts; financial markets; urban space; financialization; Brazil.