Spatial Concentration of Institutional Property Ownership: New Wave Atomistic or Traditional Urban Clustering
AbstractNCREIF investors acquire property in counties that meet socioeconomic filtering criteria. In contrast to atomistic predictions, these investors acquire their apartment buildings, offices, retail facilities, and warehouses in density clusters. These clusters follow a model of a negative exponential demand curve, a model that previously explained the technologically caused density gradient of urban areas. Institutional investors signal their belief that clustering of properties is a value dimension.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 12 (1996)
Issue (Month): 3 ()
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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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- Wayne R. Archer, 1981. "Determinants of Location for General Purpose Office Firms within Medium Size Cities," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 9(3), pages 283-297.
- Marilyn Rubin & Ilene Wagner & Pearl Kamer, 1978. "Industrial Migration: A Case Study of Destination by City-Surburban Origin within the New York Metropolitan Area," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 6(4), pages 417-437.
- Peter Byrne & Stephen Lee, 2006. "Geographical Concentration in the Institutional Market for Office Property in England and Wales," Real Estate & Planning Working Papers rep-wp2006-07, Henley Business School, Reading University.
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