What is preferred equity in real estate?
什么是房地产中的优先股？
Preferred equity in real estate is a type of investment where the investor receives priority over common equity holders in terms of both dividends and return of capital. It can be used as a form of mezzanine financing for real estate projects, providing developers additional capital without diluting common shareholders’ equity, and also can be used to restructure the capital stack of the property, usually providing investors a fixed return and priority over common equity in case of liquidation.
房地产优先股是一种投资类型，投资者在股息和资本回报方面均优先于普通股持有人。 它可以作为房地产项目夹层融资的一种形式，在不稀释普通股股东权益的情况下为开发商提供额外资本，也可以用于重组房地产的资本结构，通常为投资者提供固定回报并优先于普通股股东 清算时的权益。