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Paper eres2015_175:
Alignment of Corporate Real Estate and Business Strategy in a disrupted market: hold and manage or sell?

id eres2015_175
authors Multescu, Gheorghe Petru; Barry Symonds
year 2015
title Alignment of Corporate Real Estate and Business Strategy in a disrupted market: hold and manage or sell?
source 22nd Annual European Real Estate Society Conference in Istanbul, Turkey
summary Further to the 2008 financial crisis, many financial institutions throughout Europe have experienced turbulence. Post 2008 economic developments varied widely across European countries. Some markets returned to growth while distressed economies continued to affect property markets especially across Central Eastern Europe. One of the main outcomes of the crisis consisted of banking institutions holding property assets as a result of defaults. Such property is expensive to hold and brings increased liabilities, particularly in a distressed property market, however shifting economic trends offer difficult decision making options.__Business strategies adopted prior to the credit crunch did not necessarily include a specific Corporate Real Estate dimension, however this situation had to be adjusted in accordance with political and financial regulations set by the European Union and the European Central Bank. This has led to financial institutions having to develop Corporate Real Estate strategies of either having to dispose of build assets at unacceptable discounts or holding and managing those assets in the interests of their investors. __The research aims to investigate the issues surrounding the decision-making process on disposing of or holding onto their “unwanted“ property assets with specific reference to particular case studies from Central Eastern European property and financial markets. Specific findings highlight the importance of adopting a specific strategy to align Corporate Real Estate decisions with the current business strategy and the most important factors affecting the decision-making process._
keywords Corporate Real Estate strategy, Business Strategy, Distressed Property Markets, Central Eastern Europe, Property Asset Decision-Making.
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
session Corporate Real Estate
last changed 2015/07/08 18:06
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