Narrow search
Showing 1 - 10 of 43,948
Cover Image
How Accurate Are Commercial Real Estate Appraisals? Evidence from 25 Years of NCREIF Sales Data
Susanne, Cannon; Rebel, Cole - Volkswirtschaftliche Fakultät, … - 2011
from the NCREIF National Property Index (“NPI”) during 1984 – 2010, a period which spans two up-and-down cycles of the … quarters following the appraisal. Even in a portfolio context, allowing for offsetting positive and negative differences … “appraisal error” is largely systematic; we can explain more than half of the variation in the signed percentage difference in …
Persistent link: https://www.econbiz.de/10011258429
Cover Image
Portfolio diversification across U.S. gateway and non-gateway real estate markets
Hoesli, Martin; Johner, Louis - 2021
Using simulation analysis and property-level data for the U.S., we compare performance metrics for portfolios containing varying proportions of gateway and non-gateway markets. Risk-adjusted performance is found to be similar across types of markets. Gateway markets have higher appreciation and...
Persistent link: https://www.econbiz.de/10012800449
Cover Image
How Accurate are Commercial Real Estate Appraisals? Evidence from 25 Years of NCREIF Sales Data
Cannon, Susanne E. - 2013
from the NCREIF National Property Index (“NPI”) during 1984 – 2010, a period which spans two up-and-down cycles of the … quarters following the appraisal. Even in a portfolio context, allowing for offsetting positive and negative differences … “appraisal error” is largely systematic; we can explain more than half of the variation in the signed percentage difference in …
Persistent link: https://www.econbiz.de/10013093516
Cover Image
Asset Location, Timing Ability, and the Cross-Section of Commercial Real Estate Returns
Ling, David C. - 2018
This study examines the sensitivity of equity REIT returns to time-varying MSA allocations of REIT property portfolios. Using a large sample of individual commercial property holdings, we find significant cross-sectional and time variation in REIT geographic exposures and the ability of these...
Persistent link: https://www.econbiz.de/10012934980
Cover Image
Alpha and Persistence in Real Estate Fund Performance
Bond, Shaun A. - 2010
This paper investigates whether fund managers investing in the direct real estate market can systematically and persistently deliver superior risk-adjusted returns. The research that has been published has typically focused on the performance of managers trading public real estate securities....
Persistent link: https://www.econbiz.de/10013147971
Cover Image
Working From Home and Corporate Real Estate
Bergeaud, Antonin; Eyméoud, Jean-Benoît; Garcia, Thomas; … - 2022
We examine how corporate real estate market participants adjust to the anticipated take-off of teleworking. We develop an indicator of the exposure of counties to teleworking in France by combining teleworking capacity with incentives and frictions to its deployment. We study how this indicator...
Persistent link: https://www.econbiz.de/10013307017
Cover Image
Real and private-value assets
Goetzmann, William N.; Spaenjers, Christophe; … - 2021
Real and private-value assets—defined here as the sum of real estate, infrastructure, collectibles, and noncorporate business equity—compose an investment class worth an estimated $84 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets,...
Persistent link: https://www.econbiz.de/10012523319
Cover Image
The other (commercial) real estate boom and bust : the effects of risk premia and regulatory capital arbitrage
Duca, John V.; Ling, David C. - 2015
The last decade's boom and bust in U.S. commercial real estate (CRE) prices was at least as large as that in the housing market and also had a large effect on bank failures. Nevertheless, the role of CRE in the Great Recession has received little attention. This study estimates cohesive models...
Persistent link: https://www.econbiz.de/10011406248
Cover Image
Intermediary segmentation in the commercial real estate market
Glancy, David; Krainer, John; Kurtzman, Robert; … - 2019
Banks, life insurers, and commercial mortgage-backed securities (CMBS) lenders originate the vast majority of U.S. commercial real estate (CRE) loans. While these lenders compete in the same market, they differ in how they are funded and regulated, and therefore specialize in loans with...
Persistent link: https://www.econbiz.de/10012182407
Cover Image
Lease expirations and CRE property performance
Glancy, David P.; Wang, J. Christina - 2023
This study analyzes how lease expirations affect the performance of commercial real estate (CRE) properties and how these patterns changed during the COVID-19 crisis. Even before the pandemic, lease expirations were associated with a notable increase in the downside risk to a property's...
Persistent link: https://www.econbiz.de/10014442988