Across public health, medicine, urban planning, real estate and public policy interest in walkability, a latent construct, has grown substantially. Using the multi-family housing market as a lens through which to examine consumer preferences, this paper exploits a large spatially diverse data...

The economic effect of climate hazard events varies by time and by location. This paper investigates how climate shocks to local property markets spillover to capital markets. We also provide evidence of how forward-looking climate risk is capitalized into the public valuations of those property...

This paper explores private equity real estate fund performance and voluntary environmental, social, and governance (ESG) disclosures. Using data from the National Council of Real Estate Investment Fiduciaries (NCREIF), it examines the relationship between performance for funds in the Open-Ended...

Using a sample of CCIM designees and candidates in an experimental setting, this study examines the impact of broker signaling in commercial real estate transactions. It also explores the effect of certainty of closure in commercial real estate transactions. Findings suggest brokers are able to...

This article investigates how emerging real estate markets price information conveyed by voluntary environmental certification schemes. In addition to low incidence of green buildings, developing countries typically exhibit weaker environmental performance due to limited capacity to enforce...

In this study, we analyze the demand for green office building features among office tenants in the United States. An online survey of a random sample of office tenants in 17 major U.S. markets is employed. Respondents provided their perspective on green buildings and their willingness-to-pay...

We use lease-level analysis to report on the effect of the presence of 15 green sustainable building features on office rents in an effort to unpack the independent impact of the bundle of attributes contained in green labels such as LEED. The results show that LEED conveys to the market the...

This paper shows LEED certified Hospitality properties exhibit increased expenses and earn lower Net Operating Income (NOI) than non-certified buildings. Energy Star certified properties show lower overall expenses than non-certified buildings with statistically neutral NOI effects. Using a...