Question 5: Indirect Property (a) AREITs trading under a stapled security structure should have a unit price that closely follows the Net Asset Value/unit of the trust. Is this statement true or false? Provide reasons for your answer. (b) The main reason wholesale investors such as superannuation funds purchase investment property directly is to speculate short term on capital gains. Evaluate the validity of this statement and reference reasons why property is added to a multi-asset class portfolio. (a) An investor has $300,000 in equity capital, is risk averse to debt and is considering a diversified exposure to commercial property. The investor has no experience of commercial property, is concerned about the lack of domain knowledge and wishes to have an expert handle all asset management decisions. The investor does not required liquidity and is prepared happy to accept a premium for liquidity risk. 0.0 Given these investor characteristics, would you recommend to the investor purchasing commercial property directly, a listed REIT, private REIT or a private syndicate? Provide reasons for your answer. Question 5: Indirect Property (a) AREITs trading under a stapled security structure should have a unit price that closely follows the Net Asset Value/unit of the trust. Is this statement true or false? Provide reasons for your answer. (b) The main reason wholesale investors such as superannuation funds purchase investment property directly is to speculate short term on capital gains. Evaluate the validity of this statement and reference reasons why property is added to a multi-asset class portfolio. (a) An investor has $300,000 in equity capital, is risk averse to debt and is considering a diversified exposure to commercial property. The investor has no experience of commercial property, is concerned about the lack of domain knowledge and wishes to have an expert handle all asset management decisions. The investor does not required liquidity and is prepared happy to accept a premium for liquidity risk. 0.0 Given these investor characteristics, would you recommend to the investor purchasing commercial property directly, a listed REIT, private REIT or a private syndicate? Provide reasons for your