Commercial real estate loans, in particular construction and land loans, have become a simultaneously one of the most significant sources of risk for regional and small banks while remaining one of the least understood and studied types of debt. The lack of loan-level data on land, construction,...

The study quantifies liquidity impacts measured by the Demand-Supply Gap in terms of asset pricing implications for US private commercial real estate markets of the COVID-19 crisis. So far (using data up to April 2020), New York is hardest hit among the eight metros examined, with a predicted...

Using a large dataset of U.S. offices we analyze the relationship between investors' distance to their assets and the effective rent of these assets, and study the extent to which property managers can influence this relationship. We construct hedonic rent models to control for other known rent...

Introduction -- Sustainable Building Certification and the Rent Premium: A Panel Data Approach -- Operating Expenses and The Rent Premium of Sustainable Buildings -- Sustainability and the Leasing Decision of Office Occupiers in the U.S. -- Summary, Practical Implications, and Further Research.

We study the impact of remote work on the commercial office sector. We document large shifts in lease revenues, office occupancy, lease renewal rates, lease durations, and market rents as firms shifted to remote work in the wake of the Covid-19 pandemic. We show that the pandemic has had large...