Identifying groups of comparable individual assets for a relative comparison of investment performance presents a major difficulty for direct real estate investors. The old adage ‘no two properties are exactly the same' expresses this problem, yet investment managers require reliable this...

This paper focuses on the effect of energy performance ratings on appraised capital values, rental values and equivalent yields of UK commercial property assets. The study is based upon 708 commercial property assets held in the IPD UK Universe. Incorporating a range of potential confounding...

Previous studies of rental and price premiums in the market for eco-certified real estate have largely ignored buyer characteristics. This paper investigates whether there are significant concentrations of eco-investors in commercial real estate markets and uses hedonic regression analysis to...

This paper investigates the relationship between corporate social and environmental performance and financial performance for a sample of publicly traded US real estate companies. Using the MSCI ESG (formerly KLD) database on seven Environmental, Social & Governance dimensions in the 2003-2010...

This paper investigates the effect of eco-labeling on the occupancy rates of commercial offices in the US. The occupancy rates of LEED and Energy Star labeled offices are compared to a sample of non-labeled offices. Using OLS and quantile regression analyses, a significant positive relationship...

Despite its evident importance for a profitable investment in real estate, there are no clear-cut definitions of management tasks in real estate to date. This article reviews the existing definitions and attempts to develop a unified framework that integrates the disparate definitions in an...

It has been frequently observed that office markets are subject to particularly high fluctuations in rents and vacancy levels, thus exposing real estate investors to considerable risk regarding expected future income streams. This paper analyzes the determinants of office rents and their...

The main objective of this paper is to elucidate the capability of time-series regression models to capture and forecast movements in occupancy patterns, rental rates and construction activity.The model presented is a Wheaton-type three-stage simultaneous equation model. The first stage...

Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect on New York office rental and vacancy rates by...