An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 2006.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2007
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| Online Access: | http://dspace.mit.edu/handle/1721.1/37442 http://hdl.handle.net/1721.1/37442 |
| _version_ | 1826196961162690560 |
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| author | Morrison, John Harris, III |
| author2 | Henry O. Pollakowski. |
| author_facet | Henry O. Pollakowski. Morrison, John Harris, III |
| author_sort | Morrison, John Harris, III |
| collection | MIT |
| description | Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 2006. |
| first_indexed | 2024-09-23T10:40:19Z |
| format | Thesis |
| id | mit-1721.1/37442 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T10:40:19Z |
| publishDate | 2007 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/374422019-04-11T12:31:53Z An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 Morrison, John Harris, III Henry O. Pollakowski. Massachusetts Institute of Technology. Dept. of Architecture. Massachusetts Institute of Technology. Dept. of Architecture. Architecture. Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Architecture, 2006. This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. Includes bibliographical references (p. 58-59). This thesis explores the timing and returns of eight types of real estate investors between 2000 and 2006. The investor types considered are 1) private local, 2) private national, 3) institutional, 4) public REIT (Real Estate Investment Trust), 5) foreign, 6) user/other, 7) syndicator and 8) condo converter. Observing over 41,000 transactions and using the repeat sale method to calculate investor capital appreciation returns, this thesis finds that private local investors are the largest investor type-both in absolute number and transaction volume-suggesting that real estate is still a very local business. In addition, this thesis observes that REIT, foreign and private investors each exhibited leading behavior over other investors, especially institutions, in capital flows: they each tended to start trends in buying and selling at various times from 2000 to 2006. Moreover, it finds that REIT, foreign and private investors took turns in earning the highest cumulative capital appreciation returns from 2000 to 2006, and that private local investors tended to lead all other investors, especially institutional, in return trends. These findings are significant as they increase the understanding of investor behavior and performance in capital markets and may ultimately help increase market information and efficiency. by John Harris Morrison, III. S.M. 2007-06-27T20:26:52Z 2007-06-27T20:26:52Z 2006 2006 Thesis http://dspace.mit.edu/handle/1721.1/37442 http://hdl.handle.net/1721.1/37442 123421885 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/37442 http://dspace.mit.edu/handle/1721.1/7582 81 p. application/pdf Massachusetts Institute of Technology |
| spellingShingle | Architecture. Morrison, John Harris, III An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title | An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title_full | An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title_fullStr | An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title_full_unstemmed | An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title_short | An analysis of investor types in real estate capital markets : their behavior and performance from 2000 to 2006 |
| title_sort | analysis of investor types in real estate capital markets their behavior and performance from 2000 to 2006 |
| topic | Architecture. |
| url | http://dspace.mit.edu/handle/1721.1/37442 http://hdl.handle.net/1721.1/37442 |
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