Purpose – Assessing the value of property management services is challenging because of collinearity between property quality and the quality of property management companies. In order to overcome this challenge and isolate the impact of property management services, the purpose of this paper...

SUMMARY This paper presents an analysis of the tracking problems of multiple indices with multidimensional performance criterion consisting of mean wealth and the tracking errors. We evaluate the performance of portfolios via the vector inequalities defined by convex cones, which enable us to...

Abstract We introduce an adaptive algorithm to estimate the uncertain parameter of a stochastic optimization problem. The procedure estimates the one-step-ahead means, variances and covariances of a random process in a distribution-free and multidimensional framework when these means, variances...

Abstract The demand for an accurate financial risk management involving larger numbers of assets is strong not only in view of the financial crisis of 2007–2009. Especially dependencies among assets have not been captured adequately. While standard multivariate copulas have added some...

Planning for future real estate and facility needs in a highly uncertain competitive environment can benefit from a four‐stage process of demand forecasting. Based upon research conducted within the Corporate Real Estate Portfolio Alliance and a review of general business forecasting...

The paper identifies the need for a portfolio approach to the management of real estate assets, and sets out its key components as a ‘macro’ level process. Portfolio management is positioned within an overall model of the corporate real estate function, from which a definition is developed....

Current CRE financial management practices predominantly reflect a view of real estate as an investment vehicle. The author argues that for the CRE manager, real estate is not an investment vehicle, but rather a raw material in his firm’s production process. Under the raw materials procurement...

The Corporate Real Estate Portfolio Alliance performed extensive research into corporate real estate portfolio management and developed a number of new practices and analytical methods. A number of papers in this issue of the Journal of Corporate Real Estate resulted from the research. This...

Real estate is an inherently inflexible asset, yet corporate real estate managers increasingly need to find ways in which flexibility can be achieved. Shorter planning horizons, increasing corporate experimentation and growth through mergers and acquisition are but a few of the influences which...

Many corporate and public real estate managers are challenged to prove their added value to both the organisation and the individual business units or departments. Value can be added by product and by process. This paper elaborates on ways to improve the corporate real estate portfolio...