300万元闲置商铺“入托”重生，天津首单不动产信托落地

Core Viewpoint - The article discusses the innovative approach of utilizing real estate trusts to activate idle assets, moving beyond traditional methods of sale and lease, with the successful registration of the first real estate trust project in Tianjin, "Tianjin Real Estate No. 1" [2][3]. Group 1: Real Estate Trusts - The "Tianjin Real Estate No. 1" project involves a partnership between Hongtai Real Estate and Northern International Trust, focusing on a commercial property valued at 3 million yuan [2][3]. - The trust structure allows for the continuous operation and management of the property by a third-party professional institution, generating ongoing revenue for the asset owner [3][5]. - The Tianjin pilot program marks a significant breakthrough in the real estate trust sector, emphasizing the activation of existing assets as a core application scenario [4][6]. Group 2: Policy and Implementation - The Tianjin pilot program introduces a differentiated innovation in institutional design, allowing for both existing and newly purchased properties to be included in trusts [4][5]. - The program aims to enhance operational efficiency and asset structure optimization while addressing both corporate and individual beneficiary needs [4][6]. - A standardized and scenario-based registration system for real estate trust assets has been established, ensuring clear responsibilities and effective execution [5][6]. Group 3: Market Outlook - Despite the initiation of pilot programs in several cities, the overall real estate trust business remains in a "policy heat, market cold" phase, with limited large-scale activation of real estate assets [7][8]. - Industry experts suggest that the development of real estate trusts is closely tied to the economic environment, requiring both policy guidance and market response for scalable growth [9]. - The future of real estate trusts is seen as promising, with expectations of significant growth in the next 3-5 years as policies and market conditions improve [9][10].