Ghysels, Eric; Plazzi, Alberto; Valkanov, Rossen - In: European Financial Management 13 (2007) 3, pp. 472-497
"We consider a log-linearized version of a discounted rents model to price commercial real estate as an alternative to traditional hedonic models. First, we verify a key implication of the model, namely, that cap rates forecast commercial real estate returns. We do this using two different...
