Online Information Search, Market Fundamentals and Apartment Real Estate

Using a system of multi-step equations, I examine the association between online rental searches and fundamental apartment real estate market variables namely, vacancy rates, rental rates and real estate asset price returns. I find that consumer real estate searches are significantly associated with the market fundamentals after controlling for known determinants of these variables. In particular, I show that apartment rentals related online searches are endogenously and contemporaneously associated with reduced vacancy rate. However, the association between the searches and rental rates is not significantly detected. The searches are contemporaneously associated with positive return on the appraised values of multifamily assets. There is some evidence that the searches are fundamentally associated with REIT returns in the short run and that REIT investors watch the online search trends to inform their stock pricing decisions

Green Hotels ::an overview

In this article, we adopt a real estate perspective and explore the sustainability implications of hotels. First, we provide a background on sustainability, describe how it relates to the hotel sector and synthesize literature on the economic implications of sustainability. Further, we provide and explain trends on sustainability certifications, LEED in particular, in the US context

Does Geographic Focus Reduce Systematic Risk in Hotel REITs?

This paper examines how the systematic risk of large commercial real estate owners is associated with geographic diversification. It analyzed time-varying equity betas and geographic exposure of publicly traded pure-play lodging REITs. Contrary to popular expectation, results of this study showed that stock investors perceive smaller risk in geographic focus rather than diversification. Further, regional focus becomes insignificant in reducing the risk if the focus expands beyond two or three regions. The findings were robust to multiple measures of geographic diversification. As such, the study reaffirmed the impact of geographic focus in the context of commercial real estate as a risk minimization strategy

An investigation into sentiment-induced institutional trading behavior and asset pricing in the REIT market

Institutional investors such as pension funds or insurance companies commonly invest in the unsecuritized and securitized real estate market. We investigate how institutional investor sentiment in the inefficient commercial real estate market affects institutional trading behavior in the REIT market and subsequently asset pricing. In particular, we test two alternative theories - flight to liquidity and style investing theory - to explain the sentiment induced trading behavior of institutional investors in the REIT market for the pre-crisis (2002-2006), crisis (2007-2009) and post-crisis (2010-2012) period. We find that the applicability of either theory depends on economic conditions. In the pre-crisis period institutional investors switched capital in and out of REITs based on their sentiment in the private market (style investing). However, in the crisis period institutional investors switched capital from the illiquid private market to the more liquid REIT market (flight to liquidity). The flight to liquid REITs continues into the post-crisis to a lesser extent and suggests that the financial crisis has changed institutional investment behavior. Our findings hold across different groups of REITs (e.g. high and low institutional ownership, S&P and non-S&P REITs) and property types. We also find that institutional real estate investor sentiment introduces a non-fundamental component into REIT pricing

GENERATION DEPENDENT TARGETING POTENTIAL OF DONEPEZIL LOADED POLY (PROPYLENEIMINE) DENDRIMER THROUGH GOAT NASAL MUCOSA

Objective: In the domain of nano drug delivery, dendrimers are the most explored bioactive polymeric carrier system. The present work was aimed to study the diffusion potential of different generations of Poly (propyleneimine) (PPI) dendrimers on goat nasal mucosa in an ex vivo study and synthesize a stable dendrimer for olfactory drug delivery.Methods: The generations (3.0G, 4.0G, and 5.0G) of PPI dendrimer were synthesized, and PEGylated by MPEG 5000 and then loaded with donepezil. A comparative study was carried out among all generations in term of their drug loading capacity, stability, sustained release behaviour as well as for targeting efficacy. An ex-vivo study was carried out on Franz Diffusion Cell with goat nasal mucosa.Results: The developed G3, G4, and G5 dendrimerformulations had entrapment efficiency of 24.33±0.56%, 40.12±0.62%, and 60.4±0.6%, respectively. The nasal diffusion study revealed that 5.0G PPI dendrimer increased diffusion of donepezil up to 47% as compared to the pure solution of donepezil while 10% improvement in diffusion was seen as compared to 4.0 G PPI dendrimer. Thus obtained results claimed that the drug loading as well as targeting potential of PPI dendrimers increased with the increase in the number of generation. The investigation outcome indicated promising results of 5.0G PPI dendrimer over the 3.0G and 4.0G PPI dendrimer generations for their drug loading capacity, stability, and sustained release action.Conclusion: The 5.0G PPI dendrimer proved its superior candidature over the other lower generations of PPI dendrimers for drug delivery and drug targeting

Head neck neuroblastoma in early childhood: a rare case report

Neuroendocrine tumors (NETs) comprise a heterogeneous group of malignancies from cells derived from the neural crest with neuroendocrine differentiation. Neuroblastoma is an embryonal malignancy of the sympathetic nervous system arising from neuroblasts (pluripotent sympathetic cells). It can be sporadic or nonfamilial in origin. Despite the differences in the site of origin, nomenclature, biological behaviour, and functional status, NETs share certain immunohistochemical and ultrastructural features. NETs are relatively rare tumors with an annual incidence of 6 new cases per 100000 inhabitants. It is primarily a tumor of abdominal origin from where it metastasizes to lymph nodes, liver, orbital sites, and central nervous system.  Head and neck NETs are uncommon. We report a rare case of neuroblastoma in a 3-year-old child presenting with an unusual large fungating mass in left parotid region