Real Estate Capital Flows and Transitional Economies

Foreign real estate capital was a major source of financing domestic property market office construction in Central Europe after the fall of the Berlin Wall in 1989.  During the 1990s, over 800 office buildings were either newly constructed or refurbished in Budapest, Prague and Warsaw.  The primary focus of this analysis is explaining the spatial construction and redevelopment patterns of the post-1989 office buildings in these cities.  Secondarily, we analyze the correlation of foreign direct investment flows to annual construction of office buildings.  We seek to explain the location of new or refurbished office buildings in the central business district (CBD) or in non-CBD locations in terms of the effect of time, size of property and other variables, and test whether there is a positive correlation relationship of foreign direct investment flows and new office construction or refurbishment. Integrating relevant foreign direct investment (FDI), economic geography and property theories in the research, the authors attempt to bridge existing gaps in the literature.Transitional Economies, Office Construction, Foreign Direct Investment, Capital Flows

A Descriptive Analysis of the Retail Real Estate Markets at the Metropolitan Level

Gross Leasable Area (GLA) per capita is a commonly used measure to compare the retail market potential across different retail real estate markets. This study uses GLA per capita to assess the supply of the retail space across fifty-eight metropolitan areas in the United States. After a detailed descriptive analysis of the supply of retail space, we estimate GLA per capita for each metropolitan area using a modified version of the stock adjustment model. Initial findings indicate that the retail construction boom of the 1980s was not a boom at all and that GLA per capita can be predicted using a multi-factor model

E-Tailing and Internet-Related Real Estate Cost Savings: A Comparative Analysis of E-tailers and Retailers

This article explores differences in the corporate real estate strategies of traditional retailers and those of electronic retailers, or e-tailers. The primary issue addressed is whether e-tailing companies realize benefits of their non-retail, online operations, specifically in the form of lower real estate-related expense ratios when compared to traditional brick-and-mortar retailers. The study reveals three trends. First, the majority of retailers studied continue to focus their corporate real estate strategies in the retail space world. However, some companies are incorporating their online operations into their real estate strategies and are beginning to see lower real estate-related costs as a result. Second, there are differences among e-tailers in their real estate strategies as well as some indication of differences in the real estate-related costs associated with the strategy chosen. Third, e-tailers are not realizing real estate-related cost savings over their retailing competitors.

The foreign direct investment property model: explaining foreign property

EThOS - Electronic Theses Online ServiceGBUnited Kingdo

Financial Markets and Retail Construction Cycles

Capital markets, interest rates and real estate construction may reflect interrelated cyclical activity. Does a cycle exist for retail construction? If so, is it stable (convergent) across MSAs? Do national business cycle movements in capital markets and interest rates have a significant influence on retail construction? If so, are capital market variables important for the retail cycle? This paper presents evidence of a convergent retail construction cycle across 58 metropolitan statistical areas (MSAs). After removing the effects of local MSA level variables, household formations, retail sales and short-term autocorrelation, the residuals are analyzed for cyclical behavior. The retail construction cycle is then modeled as a function of capital markets. The overall explanatory power of the local MSA level variables and capital markets is then analyzed. While significant, the explanatory power of the capital market variables is found to be slight compared to the local MSA level variables

Estimating Cycles and Variables Influencing Cycles Using Cross-Sectional Time Series Regression

This presentation was given at the Decision Sciences Institute Annual Meeting (DSI)

Senior Housing Supply Trends and Analysis: Evidence of Non-Random Behavior

This presentation was given at the America Real Estate Society National Conference

Using Panel Data to Show Evidence of Convergent Retail Construction Cycles

This presentation was given at the Decision Sciences Institute Annual Meeting (DSI)