Eres : Digital Library : Works

Paper eres2005_254:
The Implications for Regional Investment of Diversification Strategies in CommercialR eal Estate Portfolios

id eres2005_254
authors McCann, Philip and Stephen Lee
year 2005
title The Implications for Regional Investment of Diversification Strategies in CommercialR eal Estate Portfolios
source Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
summary A number of studies have examined the benefits of regional diversification strategies within commercial real estate portfolios with two approaches adopted; the first is based on primary contiguous geographical regions while the second employs areas based on economic function. In general, the conclusion is that diversifications strategies based on simple geographical areas adds little, if anything, while economic based regions have shown much greater potential. The economic regions approach to portfolio analysis appears to be a much more valuable tool in evaluating regional real estate investment opportunities and risks. The reason is that this method allows consistent risk measurement between aerial units and enables the portfolio manager to develop a geographically diversified portfolio through the use of economically cohesive regions. The aim of this paper is therefore to identify how the application of these portfolio investment techniques determines the flows of funds coming into regions, and the consequent impacts on regional investment in the regional built environment. Most previous research on this issue is based in the US with studies in other countries largely hampered by lack of real estate data and/or acceptable definitions of economic regions. This study therefore attempts to rectify this position in the UK using a large data set of real estate and socio-economic data.
series ERES:conference
type normal paper
discussion No discussions. Post discussion ...
ratings
session Session E4
last changed 2008/11/01 09:47
HOMELOGIN (you are user _anon_493668 from group guest) Powered by SciX Open Publishing Services 1.002