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How sustainable is Swiss real estate? : evidence from institutional property portfolios

Alessandrini, Fabio; Jondeau, Eric; Lang, Ghislaine; … - 2022

We evaluate the sustainability of real estate investment vehicles in Switzerland according to the three Environmental, Social, and Governance (ESG) pillars. For this purpose, we conducted a survey of direct investors (real estate investment companies, funds, and foundations) inquiring about...

Persistent link: https://www.econbiz.de/10013202812

Are public and private asset returns and risks the same? : evidence from real estate data

Hoesli, Martin; Oikarinen, Elias - 2013

This article aims to investigate the similarity of public and private real estate returns and risks over the relatively long horizon using data for the U.S and the U.K. The results show evidence of a one-to-one relationship between publicly traded REIT performance and privately traded direct...

Persistent link: https://www.econbiz.de/10010256953

Risk factors of European non-listed real estate fund returns

Delfim, Jean-Christophe; Hoesli, Martin - 2016

This research contributes to a better assessment of risk factors impacting non-listed real estate fund returns. Both … macroeconomic risk factors although our analyses suggest that non-listed real estate is more akin to direct real estate than it is …

Persistent link: https://www.econbiz.de/10011514250

Portfolio diversification across U.S. gateway and non-gateway real estate markets

Hoesli, Martin; Johner, Louis - 2021

containing varying proportions of gateway and non-gateway markets. Risk-adjusted performance is found to be similar across types … returns even after accounting for capital expenditures. Downside risk appears to be slightly greater for gateway markets than … risk is found to be constant across types of markets. We show that discriminating between gateway and non-gateway markets …

Persistent link: https://www.econbiz.de/10012800449

Robust desmoothed real estate returns

Delfim, Jean-Christophe; Hoesli, Martin - 2019

. Such returns will distort risk measurement and hence can lead to investment decisions that are suboptimal relative to those …

Persistent link: https://www.econbiz.de/10012052120

Commonality in liquidity and real estate securities

Hoesli, Martin; Kadilli, Anjeza; Reka, Kustrim - 2014

liquidity risk. This explains (at least partly) the small impact of commonality on asset prices documented in the extant …

Persistent link: https://www.econbiz.de/10010412872

Tenant industry sector and European listed real estate performance

Muckenhaupt, Jan; Hoesli, Martin; Zhu, Bing - 2022

from 2010 to 2019 and information pertaining to the firms' tenants, we find that the systematic risk in the tenants … the stocks with high tenant sector risk and sells the stocks with low tenant sector risk, which can earn a non …

Persistent link: https://www.econbiz.de/10012800985

Real estate research in Europe

Hoesli, Martin - 2016

We investigate the evolution from 2000 to 2015 in the proportion of papers published by authors with a European affiliation in the three main international real estate journals. Then, we analyze papers with at least one European author and/or concentrating on Europe published from 2008 to 2015...

Persistent link: https://www.econbiz.de/10011514254

The valuation of iIlliquid assets : a focus on private equity and real estate

Gibson, Rajna; Hoesli, Martin; Shan, Jiajun - 2022

This paper reviews methods that can be used to value illiquid investments, with a particular focus on private equity and real estate. We discuss the traditional valuation methods, in particular the net present value (NPV) rule, and show in what circumstances these can lead to suboptimal...

Persistent link: https://www.econbiz.de/10013168778

U.S. and European listed real estate as an inflation hedge

Muckenhaupt, Jan; Hoesli, Martin; Zhu, Bing - 2024

Persistent link: https://www.econbiz.de/10014543731

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