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| Spatial Concentration of Institutional
Property Ownership: New Wave Atomistic or Traditional Urban Clustering Author: Leon G. Shilton and Craig Stanley Start Page: 413 Abstract: NCREIF investors
acquire property in counties that meet socioeconomic filtering criteria. 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. |
