All RERI Working Papers are available free of charge. Click View PDF to access those papers that are available electronically. To order a paper that is not available electronically, click on the Request Paper button to the right of the paper you wish to receive. Some papers have executive summaries in PDF form which may be viewed by pressing the View Abstract button.
To search all working papers from 2010 through 2022, use the search function below:
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Tenant Satisfaction and Commercial Building Performance
Juan Palacios, Nils Kok, Minyi Hu — Published 2023 |
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Good versus Bad Networking in Private Equity Pension Fund Investment
Da Li, Timothy Riddiough — Published 2023 |
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The Impact of Environmental, Social and Governance (ESG) Attributes on the Performance of Listed Real Estate in Europe: A Quantitative Investigation
Daniel Lo, Michael McCord, Martin Haran — Published 2023 |
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The Price Effects of Natural Peril Risks
Edward Pierzak, Yanling Mayer, Justin Brolley — Published 2023 |
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Identifying Agglomeration Spillovers: Evidence from Grocery Store Openings
Franklin Qian, Qianyang Zhang, Xiang Zhang — Published 2023 |
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Creating a Green Building Ecosystem: The Impact of Local Sustainability Policies
Meagan McCollum, Stanimira Milcheva — Published 2023 |
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Commercial Real Estate Pricing Dynamics: A Machine Learning Analysis
Benedict von Ahlefeldt-Dehna, Eli Berachab, Juergen Deppnera, Wolfgang Schaefersa — Published 2023 |
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The Determinants of Institutional Capital Allocation to Real Estate
Alexander Carlo, Piet Eichholtz, Nils Kok — Published 2022 |
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ESG Investment and Private Real Estate Returns
Avis Devine, Drew Sanderford, Chongyu Wang — Published 2022 |
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Resilient Regions: Commercial Real Estate Markets and Natural Disasters
Shaun Bond, Ed Coulson, Shawn McCoy, Ian McDonough — Published 2022 |
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The Impact of Hurricanes on Commercial Real Estate Transactions
Lu Fang, Lingxiao Li, David Scofield, Abdullah Yavas — Published 2022 |
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Impact of High-Skill Jobs On Commercial Real Estate
Sumit Agarwal, Brent Ambrose, Lily Shen — Published 2022 |
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Horizontal or Vertical? The Agglomerative Effects of Building and Neighbourhood Specialisation on Property Valuation
Crocker Liu, Chen Zheng, Bing Zhu — Published 2022 |
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Transit Oriented Development, Walkability, and Commercial Property Markets: A Tale of Two Cities
Jim Clayton, Jeffrey Cohen, Lyndsey Rolheiser — Published 2022 |
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Explaining Cap Rate Variation in Single-Tenant Properties: The Role of Tenant Credit Quality and Tenant Characteristics
Mariya Letdin, G. Stacy Sirmans, Greg T. Smersh, Tingyu Zhou — Published 2022 |
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Real Estate Portfolio Diversification across U.S. Gateway and Non-Gateway Markets
Martin Hoesli, Louis Johner — Published 2021 |
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Does Size Matter: Institutional Investors and Commercial Real Estate
Dragana Cvijanovic, Stanimira Milcheva, Alexander van de Minne — Published 2021 |
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Are the Gateway Markets Overpriced?
Joseph Pagliari — Published 2021 |
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Climate Risk and Mortgage Delinquency
Rogier Holtermans, Matthew E. Kahn, Nils Kok — Published 2021 |
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Local Information Diffusion and Commercial Real Estate Returns: Understanding the Productivity of a Firm's Asset Base
David C. Ling, Chongyu Wang, Tingyu Zhou — Published 2021 |
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Conflicts of Interest in Commercial Real Estate Brokerage
Piet Eichholtz, Rogier Holtermans, Paulo Rodrigues — Published 2021 |
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Dis-Aggregating Urban Location and Commercial Real Estate Risk
Jeremy Gabe, Spenser Robinson, Andy Krause, Andrew Sanderford — Published 2021 |
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Underwriting Green Mortgage Backed Securities: Costs and Benefits
Avis Devine, Meagan McCollum — Published 2021 |
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The Imitation Game: How Encouraging Renegotiation Makes Good Borrowers Bad
Sean J. Flynn, Jr., Andra Ghent, Alexei Tchistyi — Published 2021
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Micro Evidence Relating to House Rents, Prices and Investors from a Matched Dataset
Jessica Rutherford — Published 2020 |
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Your Uber has Arrived: Ridesharing and the Redistribution of Economic Activity (DISSERTATION)
Caitlin Gorback — Published 2020 |
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Performance and Acquisitions: Evidence from Commercial Real Estate Institutional Investors
Liang Peng — Published 2020 |
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Adding Value through the Value-Add Bucket: A Property Level Analysis for the Fund Manager
Matthew Cypher, Lee Pinkowitz, Sara Rutledge — Published 2020 |
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What Triggers Conversion of Retail to Alternative Uses, and How Sensitive are Investors to the Triggers?
John Clapp, Tingyu Zhou, Jim Clayton — Published 2020 |
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The Term Structure of Real Estate Leases
Ernesto Aldana, Andrea Chegut, Jacob Sagi — Published 2020 |
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Property Location and Systemic Risk
Gregg Fisher, Eva Steiner, Sheridan Titman, Ashvin Viswanathan — Published 2020 |
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Levered Equity Returns in the Presence of Risky Debt: An Application to Private Real Estate
Joe Pagliari — Published 2019 |
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It’s a Weird, Weird World: The Law of Two Prices, Incentive Contracting and Return Targeting in Private Equity
Tim Riddiough — Published 2019 |
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Quality, Deal Size and Investment Returns of Commercial Real Estate
Liang Peng — Published 2019 |
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Investment Strategy, Vacancy and Cap Rates
David Downs, Eli Beracha, Greg MacKinnon — Published 2019 |
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Risk Retention and Qualified Commercial Mortgages
Brent Ambrose, Sumit Agarwal, Yildiray Yildirim, Jian Zhang — Published 2019 |
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Calibrating Permitting Data to Capital Expenditure Data
Jacob Sagi, Tomasz Piskorski — Published 2019 |
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Mortgage REITs: Sector Dynamics and Performance Drivers
Eva Steiner — Published 2019 |
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Medical Service Quality and Office Rent Premiums: Reputation Spillovers
Brent Smith, Allen Goodman — Published 2019 |
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Risk Retention and Information in the Face of Regulatio
Sean Flynn, Andra Ghent, Alexei Tchistyi — Published 2019 |
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The Option to Redevelop Real Estate & Zoning Restrictions Over Space and Time (DISSERTATION)
David Leather — Published 2019 |
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An Economic Analysis of Secured Non-Recourse Debt
Timothy Riddiough — Published 2018 |
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The Causes and Consequenses of Cross-Market Differences In the Liquidity of Commercial Real Estate
Andra Ghent — Published 2018 |
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Flight to Safety in Real Estate
Walter Boudry, Robert Connolly and Eva Steiner — Published 2018 |
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Incorporating the Impact of Financial Intermediaries on the Price and Future Returns of Real Estate
Shaun Bond and Hui Guo — Published 2018 |
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The Optimal Composition of Shopping Malls during the Ongoing Evolution of US Retail
Tingyu Zhou,Peng Liu and Cheuk Shing Leung — Published 2018 |
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Analyzing Commercial Property Price Indices using Dynamic Factor Analysis
David Geltner, Alex Van de Minne and Marc Francke — Published 2018 |
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Multi-Family Housing and Sustainability: Analyzing the Factors Creating Competitive Advantage
Drew Sanderford, Jeremy Gabe and Spenser Robinson — Published 2018 |
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Connected Markets through Global Real Estate Investments
Bing Zhu and Colin Lizieri — Published 2018 |
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Capital Expenditures, Asset Dispositions, and the Real Estate Cycle
Brent Ambrose and Eva Steiner — Published 2017 |
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Should I AirBNB my Property?: A Comparison of Returns on Short- and Long-term Urban Rentals
Andy Krause and Gideon Aschwanden — Published 2017 |
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Real Estate Portfolio Diversification and the Cost of Debt: Evidence from REIT Mortgages, Bank Loans, and Bonds
Piet Eicholtz, Irem Demirci, and Erkan Yonder — Published 2017 |
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Benchmarking Local Private Commercial Real Estate Returns: Statistics Meets Economics
Liang Peng — Published 2017 |
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Value Investment Strategies for Commercial Real Estate
David Downs, Eli Beracha, and Greg MacKinnon — Published 2017 |
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Structure Depreciation and Real Estate Returns
Jiro Yoshida — Published 2017 |
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Whose Skin Is It? Examining the Role of Risk Retention in CMBS Markets
Tony Ciochetti and Carl Larsson — Published 2017 |
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Price Dynamics of Different Price Segments in Commercial Real Estate
David Geltner and Alex van de Minne — Published 2017 |
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A New Method to Estimate Risk and Return of Commercial Real Estate Assets from Cash Flows: The Case of Open-End (Diversified) Core Private Equity Real Estate Funds
Jin Man Lee, James D. Shilling, and Charles Wurtzbach — Published 2016 |
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Which Factors Determine Liquidity Across the U.S. Metropolitan Real Estate Markets?
Steven Devaney, Pat McAllister, Anupam Nanda — Published 2016 |
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Asset Growth and Stock Performance: Evidence from REITs
David Ling, Joseph Ooi, Ruoran Xu — Published 2016 |
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Risk and Information Tranching, Security Governance, And Incentive Compatible Capital Structure Design
Timothy Riddiough, Jun Zhu — Published 2016 |
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Efficient Capital Market with Predictable Asset Returns: Evidence from Private Commercial Real Estate Investments
Liang Peng — Published 2016 |
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Real Estate Holdings of Public Firms and Collateral Discounts
Irem Demirci, Umit G. Gurun, Erkan Yonder — Published 2016 |
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Can Competition Improve Credit Ratings? Evidence from the CMBS Market
Sean J. Flynn, Andra C. Ghent — Published 2015 |
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The Credit Availability Component of Commercial Real Estate Prices
Jonathan A. Wiley — Published 2015 |
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Does Foreign Investment Affect US Office Real Estate Prices?
Anupam Nanda, Pat McCallister — Published 2015 |
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Fundamental Drivers of Dependence in Real Estate Returns
Eva Steiner, Jamie Alcock — Published 2015 |
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The Economic Foundations of Regional Real Estate Markets: An Equity Markets Approach
Marc W. Simpson — Published 2015 |
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An Information-based Pricing Factor in International Commercial Real Estate Markets
Roland Fuess, Daniel Ruf — Published 2015 |
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Impact of Large Investors in Distressed Housing Markets
Abdullah Yavas, Ronald Rutherford, Jessica Rutherford, Marc "Tim" Allen — Published 2015 |
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Optimal Capital Structure and the Effects of Deviations from Target Leverage on REIT Return Performance
Emanuela Giacomini, David C. Ling, Andy Naranjo — Published 2015 |
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Default Risk of Securitized Commercial Mortgages: Do Sustainability Property Features Matter?
Xudong An, Gary Pivo — Published 2015 |
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Inflation Uncertainty and Real Estate
Lingxiao Li, Timothy Riddiough — Published 2014 |
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How is Leverage Determined for Commercial Real Estate?
Liang Peng — Published 2014 |
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The Cross Section of Expected Real Estate Returns: Insights from Investment-Based Asset Pricing
Shaun Bond, Chen Xue — Published 2014 |
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The Extensive Margin of Credit, Housing Markets and the Tradeoff between
Financial Stability and Homeownership
Pedro Gete — Published 2014 |
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Commonality in Liquidity and Real Estate Securities
Martin Hoesli, Anjeza Kadilli ,Kustrim Reka — Published 2014 |
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Lender Expectations and Real Estate Dynamics
Natalie Tiernan — Published 2014 |
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The Upgrade and Downgrade of CMBS Credit Ratings
Xudong An, Joseph Nichols — Published 2014 |
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Overconfidence and Corporate Decision Making: Evidence from REIT Property Transactions
Piet Eichholtz, Erkan Yonder — Published 2014 |
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Search Costs, Behavioral Biases, and Information Intermediary Effects
David Ling, Andy Naranjo, Milena Petrova — Published 2013 |
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Finding Cap Rates: A Property Level Analysis of Commercial Real Estate Pricing
Liang Peng — Published 2013 |
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Contagion Channels Between Real Estate and Financial Markets
Martin Hoesli, Kustrim Reka — Published 2013 |
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The Value of Active Management in the Commercial Real Estate Market: Evidence from Holdings and Trades
Yael V. Hochberg, Tobias Muhlhofer — Published 2013 |
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Illiquidity Measures and the Pricing Implication in Commercial Real Estate
Peng (Peter) Liu, Wenlan Qian — Published 2013 |
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Product Market Competition, Real Estate and Stock Returns
Moussa Diop — Published 2013 |
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Real Estate Risk and Hedge Fund Returns
Walter D'Lima, Charles Cao, Brent W. Ambrose — Published 2013 |
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Commercial Real Estate: Underwriting, Mortgages, and Prices
James A. Wilcox — Published 2012 |
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Corporate Investment in Commercial Real Estate with Costly Reversibility
Jonathan Wiley — Published 2012 |
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Governance and Design of Structured Securities: Theory and Evidence
Timothy J. Riddiough, Jun Zhu — Published 2012 |
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Performance of LEED-Existing Buildings Before and After their Certification
James A. Wilcox, Sofia Dermisi — Published 2012 |
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Residential Relocation Decisions: The Role of Neighborhood Housing Characteristics
Kwan Ok Lee — Published 2012 |
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The Determinants of REIT Volatility
Lingxiao Li — Published 2012 |
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The Spill-Over Impact of Liquidity Shocks in the Commercial Real Estate Market
Brent W. Ambrose, Sun Young Park — Published 2012 |
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Value Added From Money Managers in Private Markets? An Examination of Pension Fund Investments in Real Estate
Aleksandar Andonov, Piet Eichholtz, Nils Kok — Published 2012 |
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Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation
Xudong An, Yongheng Deng, Jeffrey D. Fisher — Published 2011 |
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Executive Compensation and Debt Structure of REITs (Dissertation)
Ying Li — Published 2011 |
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Exploiting Property Characteristics in Commercial Real Estate Portfolio Allocation
Alberto Plazzi, Walter Torous, Rossen Valkanov — Published 2011 |
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Funding Constraints and Commercial Real Estate Pricing Spirals
David C. Ling, Andy Naranjo, Benjamin Scheick — Published 2011 |
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How Accurate Are Commercial Real Estate Appraisals? Evidence from 30 Years of NCREIF Sales Data
Susanne Ethridge Cannon, Rebel A. Cole — Published 2011 |
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Interest Rate and Investment under Uncertainty: Evidence from Commercial Real Estate Capital Expenditures
Liang Peng, Thomas G. Thibodeau — Published 2011 |
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Market Timing and Investment Selection: Evidence from Real Estate Investors
Yael V. Hochberg, Tobias Muhlhofer — Published 2011 |
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Collateral and Debt Capacity in the Optimal Capital Structure
Erasmo Giambona, Timothy J. Riddiough, Antonio Mello — Published 2010 |
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Investor Sentiment and Asset Pricing in Public and Private Markets
David C. Ling, Andy Naranjo, Benjamin Scheick — Published 2010 |
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Is Value-Added and Opportunistic Real Estate Investing Beneficial? If So, Why?
James D. Shilling, Charles Wurtzebach — Published 2010 |
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Loss Aversion and Anchoring in Commercial Real Estate Pricing: Empirical Evidence and Price Index Implications
David M. Geltner, Sheharyar Bokhari — Published 2010 |
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Risk and Returns of Commercial Real Estate: A Property Level Analysis
Liang Peng — Published 2010 |
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The Returns of Private and Public Real Estate
Sheidan D Titman, Christian Tiu, Murray Carlson — Published 2010 |
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