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| Institutional Real Estate Investment
Practices: Swedish and United States Experiences Author: W. Jan Brzeski, Austin J. Jaffe, and Stellan Lundstrom Start Page: 293 Abstract: In recent years,
institutional real estate investment activity has experienced major changes in many
countries throughout the world. In Sweden, large-scale investment projects have
increasingly been dominated by several major financial institutions. As in other places,
real estate investment analysis in Sweden has undergone considerable change in terms of
rigor, focus, and perspective. This study is the first effort ever to systematically
assess the current situation in the market for commercial real estate in Sweden. The study
presents the results of a comprehensive 1988 survey of over 200 commercial real estate
investment participants in Sweden including insurance companies, pension funds,
construction firms, property management firms, and investment companies. The survey
results are compared with results reported in the United States and elsewhere within the
corporate and real estate capital budgeting literatures. The results reported here can
thus be compared cross-sectionally as well as over time across numerous dimensions. |
