Liu, Yu; Gallimore, Paul; Wiley, Jonathan - In: The Journal of Real Estate Finance and Economics 50 (2015) 1, pp. 129-149
Nonlocal investors purchase and sell investment property in a distant metropolitan area. In this study, we identify capital value underperformance for nonlocal investors on both sides of the transaction, when they purchase and when they sell. The commercial real estate transactions data include...