Abstracts for Vol.
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Multiple Perceptions, Unifying Structure Stephen E. Roulac Real estate involvements include citizenship responsibility, personal and business space use, investment, and for those whose work involvement is directly or indirectly dependent upon real estate markets, employment. Real estate strategies guide participants' decisionmaking in their multiple roles, and both highlight the issues and concerns common to these multiple roles as well as isolate those unique to particular roles. Although certain aspects of the decision processes for different participants in their multiple roles reflect the actions, circumstances and objectives unique to that participant, a meaningful part of everyone's real estate decisionmaking process is subject to common market forces. Strategic decision models provide a means to connect the micro-level tasks of property operations, the negotiation process of real estate transactions, and the larger forces that define space use and place decisions. The model indicates cap rates are determined by debt and equity spreads.