????:1???????:????????

2???????

3?????????

4????????

5???????

????????REITs(??????)???????2021??????????6????21??????????????????????????,??9????????REITs???????????????????,?????????REITs??????????????????3??,????REITs?????????????,???????,??,??????????,????????,?????????????,???“?+????????”??????,??,?REITs??????????,?????????

?????

????????????????REITs,?????????????,???????????,???????????????,??REITs????????“??????????????IPO”,???????REITs??????????????????,????,??????????????????

2020?????4?????????????,??«???????????????????????(REITs)??»,???REITs??????????????????????????????6???????14????????,????REITs????36?,????????????1100??????????????,?????????????????????????????????????????????????????????,????3??????????REITs???????????????????????????????REITs??????,????????????????????????????????????

?REITs???????????“????REITs??,??????????,???????????,???????????????????????????????????????,????,????????REITs???????????,??????????????????????,???,???????????”????????????????????

??3???????????????,??REITs?????,??????????????????,????,????????????REITs??????,?????,??REITs???????

2023???6?????????????????16??????????,???????????REITs??????????,?,?????????????,REITs???????????“????+?????”???????????????????????(?????????????“????REIT”)???????“??+?????????????”????????REITs?????:“????????,?REITs?,???,????????????????????????????????????????,??,??,?,??????????????????????,???”??,??????????????REITs???????,??3????????,??

??????????????

??,??????,??REITs?????????????????????,?????????????????????????????

???????????REITs?????????2020?????????????8?????????????«????????(???????)»?????????????????,?????????REITs???????????????,???????90%???REIT??????,????????????????3??31????????,????REIT????,??????????2023???????????????,??????????1.05?????????,??100%?????????2021???????6?????????????????????,?????????REIT????????7?????????,?????????????????7.67?????,??????????????100%,?????????

????????REITs????????????????,??????????????????REITs????????,????????????????,???????????REITs????????????????;?,?????????????????????REITs????????;??,?????????????????????????????REITs???

???????????????,?????REITs?????,??REITs????????????????????????????6???????????????????14????????,?????REITs???????????????????10%???????,??????REITs?????:???,???2024?????,??,?????????;??????????,????????????????????????????????????“?????????”?,??????????REITs???????????,???????????????,?????????????????????;??????????,???????,REITs??????????????????

????????,??????????????REITs??????,????????,??????REITs?,???????,??????????????????,????????????????????????????“????,REITs??????????????????????????????????,????????,???”??????????,?????????????,????REITs??????,???

???????????????????

????????,??????????????,??REITs???4????12?,?????“???????????????????”???????,??;?????????????????????;???????????????????????????????????4????????????19????????,??????5?????,??????REITs?????????????????????????????????????????????,????????????«?????????????»,?????????REITs,?????????????????

?,???????“????”?????????REITs????REITs?????,??????????REITs???,???????????,????????????????????REITs????????,??????????????????

“??REITs???????????????????????,??”??????,?REITs?,?????????,????,?????????????????????,?????REITs???

??????????REITs??????????????????,????????REITs?????,??,??????3??????????????????????“??REITs???????,?,???????REITs?????????????????????????,?,??????????????,?????????????????????,??REITs??”

?????,??,????????,??,??????REITs??????????,?????????????????????????,??????????????????????????????,?????????????REITs???????????????????????????????,??REITs??“????????????REITs??,??????????????????,????????,??????????????”???????????????,??,????,????,??????????????REITs??????????????? ???????:??????????????????