During an asset boom a property can develop a new usage. Appreciation investors emerge to change a property's occupant mix or letter grade. Rental investors not intending to change the mix or grade are outbid. Sellers receive a capitalized premium from the new type of bidder. For apartments in...

During an asset boom a property can develop a new usage. Appreciation investors emerge to change a property's occupant mix or letter grade. Rental investors not intending to change the mix or grade are outbid. Sellers receive a capitalized premium from the new type of bidder. For apartments in...

Quality commercial properties differ in operating performance not only on physical characteristics but in type of ownership, management, and control. For 1996-2001 data on Atlanta apartments, a primary market for multiple types of investors, there is varying operating performance by ownership....