X项目（二期）房地产基金运营管理研究

发布时间：2018-05-27 05:28

本文选题：基金 + 房地产　；参考：《华南理工大学》2014年硕士论文

【摘要】：自2010年以来，面对我国中央政府一轮又一轮的房地产调控政策，银行贷款、企业IPO等传统、主流的融资方式受到严重限制。针对典型资金密集型的房地产行业，融资渠道和方式多元化成为了必然趋势。私募房地产投资基金作为我国房地产金融领域一种新产品和融资方式，为房地产市场注入新的活力。本论文以一真实房地产投资基金项目为基础，结合房地产基金项目投资和运营过程中所应开展的工作和风险控制要点进行研究和分析，并根据项目现阶段运行情况和存在问题提出启示和建议。具体包括：房地产基金项目投资分析，房地产基金运营分析，运行情况和管理启示。房地产基金项目投资分析中，采用PEST宏观环境分析方法和SPT定位方法对房地产项目所处区位环境和发展前景、策划定位和目标市场等方面进行分析；采用敏感性分析等对项目财务指标、盈利能力进行分析；同时，论文撰写期间，对项目所在区域及周边楼盘进行实地市场调研，，包括相关项目形态、定位、市场价格、销售和去化率情况等，从而评价房地产项目的投资可行性。房地产基金运营分析中，主要从基金投资安全性出发，阐述尽职调查和投资决策的程序和重要性，同时针对投资方案中资金还款安全性、抵押担保措施、项目运营中的过程监督、退出机制等方面进行分析和探讨。同时对基金项目运行结果进行分析。房地产基金管理启示中，针对本房地产基金项目在运行过程中，交易对手出现的一些变化和企业风险，以及我国私募房地产投资基金领域暂处初步发展阶段存在的问题和潜在风险，提出建议和警示。通过对房地产基金运营管理的整体分析和研究，总结出房地产基金项目投资和运营过程中，既要重视房地产项目的投资可行性分析，也要重视基金方案设计和运营中的风险控制和规避，同时交易对手企业和控制人的背景情况也很重要。最后，在倡导加强法律法规建设和行业自律的同时，本论文将为我国本土私募房地产基金行业发展和投资实践提供一定借鉴和促进作用。
[Abstract]:Since 2010, in the face of the central government's round of real estate regulation policy, bank loans, enterprise IPO and other traditions, the mainstream financing methods are severely restricted. In view of the typical capital-intensive real estate industry, the diversification of financing channels and ways has become an inevitable trend. As a new product and financing method in China's real estate finance field, private real estate investment funds inject new vitality into the real estate market. Based on a real estate investment fund project, this paper studies and analyzes the key points of risk control and the work that should be carried out in the process of investment and operation of real estate fund project. And according to the current operation of the project and the existing problems of enlightenment and suggestions. Specific include: real estate fund project investment analysis, real estate fund operation analysis, operation and management enlightenment. In the process of investment analysis of real estate fund project, PEST macro environment analysis method and SPT positioning method are used to analyze the location environment and development prospect of real estate project, planning orientation and target market. At the same time, during the writing of the paper, the field market research on the project area and the surrounding buildings is carried out, including the related project form, positioning, market price, and so on. Sales and devitalization rate, etc., to evaluate the investment feasibility of real estate projects. In the analysis of the operation of real estate fund, the paper expounds the procedure and importance of due diligence and investment decision from the perspective of the security of fund investment, at the same time, aiming at the security of repayment of funds in the investment scheme, the measures of mortgage guarantee, The process supervision and exit mechanism in project operation are analyzed and discussed. At the same time, the fund project operation results are analyzed. In the inspiration of real estate fund management, in view of some changes and enterprise risks in the course of operation of the real estate fund project, As well as the problems and potential risks in the field of private real estate investment funds in the initial stage of development, and put forward suggestions and warnings. Through the overall analysis and research on the operation and management of real estate funds, it is concluded that in the process of investment and operation of real estate fund projects, we should attach importance to the investment feasibility analysis of real estate projects. It is also important to pay attention to the risk control and avoidance in the design and operation of the fund scheme, and the background of the counterparty enterprise and the controller is also very important. Finally, while advocating to strengthen the construction of laws and regulations and self-discipline of the industry, this paper will provide some reference and promotion for the development and investment practice of the local private real estate fund industry in China.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F299.233.42

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