Sell-offs of U.S. real estate: the effect of domestic versus foreign buyers on shareholder wealth

Article Abstract:

The effect of the nationality of the purchaser of US real estate on the wealth of the selling firm's stockholders is analyzed. Results show that sell-offs of real estate assets increase stockholders' wealth and that no significant disparity exists when the purchase was by US citizens or not. This conflict with previously found disparities for mergers may be due to the stronger public reaction to merger announcements than for sell-off announcements. In addition, no discrimination against US buyers was found in the bidding for real estate.

Social aspects, Purchasing, Real estate, Real property, Vendors and purchasers (Law)

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Office rent determinants in the Chicago area

Article Abstract:

An analysis of office rent variables is presented. The analysis focuses on office rentals based on data from 543 offices with 80% of total office space from the Chicago metropolitan area. Conditions are set to measure lease present value and supplies rent offer terms. It is shown that asking rents are influenced by 15 building characteristics and on the careful specification of building location.

Contracts, Buildings and facilities, Chicago, Illinois, Office buildings

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Real estate valuation under rent control: the case of Santa Monica

Article Abstract:

Rent control in Santa Monica, California, has lessened the real value of apartment houses, lessened rent for tenants, and gross rent multipliers of apartment buildings sold after the passage of rent control did not decline.

Real Estate Operators and Lessors, Housing, California, Rent control, Santa Monica, California

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