A property's location is often considered to be the ultimate determinant of its investment
performance. But how exactly does a property's location influence its risk and return? We …

An extensive literature finds that indices of returns on equity real estate investment trusts
(REITs) predict return indices in the private commercial real estate (CRE) market. Using a …

We examine the extent to which the quality of innovation created in different locations is
related to subsequent changes in house prices in these metropolitan areas. Cities that foster …

Using simulation analysis and property-level data for the US, we compare performance
metrics for portfolios containing varying proportions of gateway and non-gateway markets …

This study examines the pricing of tenant credit risk utilizing variation in cap rates for single-
tenant net lease (STNL) properties. Despite an abundant literature on micro-and …

Conventional real estate price indexes provide a single measure for the path of asset prices
over time (controlling for the quality of the representative or average property). Properties …

Purpose The aim of this Real Estate Insight is to comment upon commercial real estate
research. Much of the current research on commercial real estate sits in academic silos …

Vacancy refers to an investment property's unrealized income potential. Yet, is it always the
case that vacancy is a drag on value? In this article, the authors examine whether and to …

A growing literature investigates the “granular” origins of aggregate fluctuations in a variety
of contexts. This paper builds on the theoretical framework developed by Gabaix (1999) and …

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