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...

Of the top ten global commercial property markets, London's has had the highest translation turnover for the past decade according to Real Capital Analytics. Its prime real estate is part of every major European and US institutional investor's portfolio and London's market has the most developed...

This is the first paper to study the effects of overconfidence on trading activity and performance in real estate. The paper looks at REITs, since their investments and divestments can be identified with precision. We look at the effect of CEO overconfidence on investment activity and separately...

This paper investigates spatial dependence in the prices of office buildings in Hong Kong, London, Los Angeles, New York City, Paris and Tokyo for 2007 to 2013. Compared to prior literature, we find low economic impact from spatial dependence in all six markets, and spatial and spatial-temporal...

This paper investigates whether it is possible to create value through the active management of direct property portfolios. Using data from the United States, the United Kingdom and Australia, we examine whether trading intensity and portfolio growth explain the risk and return characteristics...