Following a discussion of what corporate real estate staffs should be doing to contribute more to shareholder wealth, and what usually stands in their way, a proactive strategy is put forth for overcoming these obstacles. This study examines the impact of the REIT boom on the market microstructure of REIT common stocks. These reductions provide a direct benefit to REIT investors in terms of reduction in transaction costs and improved liquidity, and suggest that the level of uncertainty on the part of the REIT specialist has been reduced. In contrast to atomistic predictions, these investors acquire their apartment buildings, offices, retail facilities, and warehouses in density clusters. These clusters follow a model of a negative exponential demand curve, a model that previously explained the technologically caused density gradient of urban areas.
Institutional investors signal their belief that clustering of properties is a value dimension.
The three general categories of discriminatory acts are refusal to make or allow reasonable physical modifications to a covered multiunit dwelling, refusal to make reasonable accommodations in rules and practices, and failure to follow certain design and construction standards. The U.S. Department of Housing and Urban Development has issued Fair Housing Accessibility Guidelines, which provide technical guidance on multiunit dwelling design and construction standards. This study examines these guidelines and the impact the Act may have upon value when discriminatory practices are observed. Pricing-related marketing strategies are found to strongly influence TOM, but individual agent and firm characteristics are not statistically significant. These results are consistent with an efficient market within a multiple listing service no group of agents or firms appears to possess special advantages enabling them to sell homes more quickly than their rivals.