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The secular and cyclic determinants of capitalization rates : the role of property fundamentals, macroeconomic factors, and "structural changes"
Chervachidze, Serguei; Costello, James; Wheaton, William C. - In: The journal of portfolio management : a publication of … 36 (2009/10) 5, pp. 50-69
Persistent link: https://www.econbiz.de/10008654019
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THE SECULAR AND CYCLIC DETERMINANTS OF CAPITALIZATION RATES: The Role of Property Fundamentals, Macroeconomic Factors, and "Structural Changes"
Chervachidze, Serguei; Costello, James; Wheaton, William - In: The journal of portfolio management : a publication of … 35 (2009) 5, pp. 50-69
Persistent link: https://www.econbiz.de/10008319849
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THE SECULAR AND CYCLIC DETERMINANTS OF CAPITALIZATION Rates: The Role of Property Fundamentals, Macroeconomic Factors, and "Structural Changes"
Chervachidze, Serguei; Costello, James; Wheaton, William - In: The journal of portfolio management : a publication of … (2009), pp. 50-69
Persistent link: https://www.econbiz.de/10008321293
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The Secular and Cyclic Determinants of Capitalization Rates: The Role of Property Fundamentals, Macroeconomic Factors, And Investor Sentiment
Chervachidze, Serguei; Costello, James; Wheaton, William C. - 2009
In this paper we revisit many studies that have attempted to explain the determinants of real estate capitalization rates. We introduce two new innovations. First we are able to identify two macroeconomic factors that greatly impact cap rates besides risk free treasury rates. These are the...
Persistent link: https://www.econbiz.de/10009432167