Overview
- Editors:
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Arthur L. Schwartz
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University of South Florida, USA
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Steven D. Kapplin
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University of Sourh Florida, USA
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Table of contents (12 chapters)
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- Arthur L. Schwartz Jr., Steven D. Kapplin
Pages 1-3
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- Steven D. Kapplin, Arthur L. Schwartz Jr.
Pages 5-18
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- Crocker H. Liu, Terry V. Grissom, David J. Hartzell
Pages 59-82
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- James R. Webb, Jack H. Rubens
Pages 83-97
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- Jack H. Rubens, James R. Webb
Pages 129-142
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- John L. Glascock, Wallace N. Davidson III
Pages 143-156
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- Mark G. Dotzour, Donald R. Levi
Pages 157-176
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- John J. Glascock, Imre Karafiath
Pages 177-189
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Back Matter
Pages 191-198
About this book
Arthur L. Schwartz, Jr. and Steven D. Kapplin The focus of this volume of the ARES Monograph Series is new ideas in real estate investment. Within this volume, empiricial studies, literature reviews, and tutorials examine a broad range of important investment issues. Many new and innovative ideas are presented. This volume should be a rich source of real estate investment ideas for many years to come. Kapplin and Schwartz examine the returns of two types of REITs, as well as that of Master Limited Partnerships (MLP), over the 1987-1989 time period. Their sample consisted of 54 real estate securities; they conclude that these entities did not provide an effective inflation hedge. MLP returns exceeded that of the overall stock market, but the two REIT types did not provide rates-of-return in excess of the marked. An extensive review of the commercial real estate return literature is presented by Fletcher. He focuses upon studies that utilize commingled real estate fund (CREF) data. His detailed overview of the subject provides a much needed synthesis of the current literature. Roulac presents an extensive discussion of the differences in the per spectives of individual versus institutional investors. In his essay, he considers such factors as scale, diversification, and related issues. Addi tionally, he examines a wide range of literature from within academia, 1 INTRODUCTION 2 as well as the opinions of various real estate gurus. He concludes that behavioral factors override economic considerations.
Editors and Affiliations
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University of South Florida, USA
Arthur L. Schwartz
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University of Sourh Florida, USA
Steven D. Kapplin
