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The Best-Owner Principle in Real Estate Management

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  • Andreas Loepfe

Abstract

Unlike the usual ìmarket valueî, the ìBest-Owner principleî proposes to tie the value of a direct real estate investment ñ seen as a business unit ñ to its owner. In this model the decision whether to add an asset to a portfolio depends on the ownerís ability to extract additional value from this specific property. This approach reflects the individual investorís management skills relative to those of other potential owners. Consequently, there may be well-performing owners focused on low-performing assets.

Suggested Citation

  • Andreas Loepfe, 2004. "The Best-Owner Principle in Real Estate Management," ERES eres2004_176, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2004_176
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2004-176
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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