Abstract

Volume 29, Number 3, 2007 of the Journal of Real Estate Research

Institutional-Grade Properties: Performance and Ownership

John D. Benjamin Kogod School of Business, American University Washington, DC 20016 Email: jbenj@american.edu	Peter Chinloy Kogod School of Business American University Washington, DC 20016 Email: chinloy@american.edu
William G. Hardin III Department of Finance Florida International University 11200 SW 8th Street, RB 208 Miami, FL 33199 Email: hardinw@fiu.edu

Abstract:

Quality commercial properties differ in operating performance not only on physical characteristics but in type of ownership, management, and control. For 1996–2001 data on Atlanta apartments, a primary market for multiple types of investors, there is varying operating performance by ownership. Larger-scale owners and local property managers earn higher effective rents.