Spring/Summer 1983, Vol 8, No 1

Abstract: Will the increasing movement of pension funds into real estate investment signal the end of the independent developer? In Great Britain, where most developers do not retain equity ownership but function largely as project managers, this phenomenon has already taken place. Although developers in the United States may not operate as independently as in the past, they probably will continue to be in strong demand as providers of expertise and as development partners to institutional investors.