Information frictions in real estate markets: recent evidence and issues
D Broxterman, T Zhou - The Journal of Real Estate Finance and …, 2023 - Springer
This article reviews research on the economics of information in real estate. It covers equity
investment in private and public markets and intermediation by brokers. The review shows …
investment in private and public markets and intermediation by brokers. The review shows …
NAV Ratios and REIT Takeovers: The Role of Public and Private Deal Premiums
RG Chacon, TG Morillon - Journal of Real Estate Research, 2024 - Taylor & Francis
We investigate how net asset values (NAVs) impact equity real estate investment trusts
(REITs) in the market for corporate control. REITs trading at discounts to NAV are more likely …
(REITs) in the market for corporate control. REITs trading at discounts to NAV are more likely …
The cost of debt for REITs: The mortgage puzzle
L Allen, M Letdin - Journal of Real Estate Research, 2020 - Taylor & Francis
Established, low-leverage equity REITs with access to the public debt market rely on both
non-recourse mortgages and full recourse bonds/notes as sources of long-term debt …
non-recourse mortgages and full recourse bonds/notes as sources of long-term debt …
Spread too thin: REIT asset dispersion and divergence of opinion
In this paper we explore the drivers and implications of divergence in investor opinion of firm
value. We use dispersion in analyst estimates of Net Asset Value in REITs as a measure of …
value. We use dispersion in analyst estimates of Net Asset Value in REITs as a measure of …
Betting against the sentiment in reit nav premiums
We dissect REIT NAV premiums and examine their relation to expected returns. More than
half of the cross-sectional variation in NAV premiums can be explained by readily …
half of the cross-sectional variation in NAV premiums can be explained by readily …