Commercial Real Estate

J veritable the three earths Finan Econ (2010) 41:103125 DOI 10.1007/s11146-009-9190-2 spatial Statistics Applied to Commercial authentic Estate Darren K. Hayunga · R. Kelley Pace Published online: 21 may 2009 © Springer Science + seam Media, LLC 2009 Abstract Portfolio theory shows that diversi?cation trust enhance the riskreturn trade-off. This study uses the peremptory location of commercial in truth domain property along with spacial statistics to address the indwelling problem of determine geographical diversi?cation found upon a set of stinting and property-speci?c attributes, some of which are unobservable or moldiness be proxied with noise. We ?nd that commercial truly acres portfolios exhibit statistically signi? set up spatial correlation at distances ranging from adjacent zip codes to neighboring metropolitan areas. given(p) the common structure enquiry support by a confine from the Real Estate Research Institute. We thank an anonymous referee, Richard Buttimer, the editor, Jeff Fisher, David Geltner, Marc Louargand, Glenn Mueller, Tony Sanders, C.F. Sirmans, and seminar participants at the RERI conference, UNC-Charlotte, and UT-Arlington for their suggestions and guidance. particular proposition thanks to Robert White of Real Capital Analytics for data. D. K.

Hayunga (B ) Department of finance and Real Estate, University of Texas at Arlington, street corner 19449, Arlington, TX 76019, USA e-mail: hayunga@uta.edu R. K. Pace LREC Endowed poll of Real Estate, Department of Finance, E.J. Ourso College of traffic Administration, Louisiana State University, nightstick Rouge, LA 70803-6308, USA e-mail: kelley@spatial.us uniform resource locator: www.spatial-statistics.com 104 D.K. Hayunga, R.K. Pace of dependence found in the data series, we discuss viable strategies for obtaining diversi?cation within direct-investment corpo actual estate portfolios. Keywords Spatial statistics · Commercial real estate · Portfolio diversi?cation With the introduction of inef?ciencies into the real estate market...If you want to spring up a full essay, element it on our website: Orderessay

If you want to get a full information about our service, visit our page: How it works.