Implicit Liquidity Premiums in the Disposition of RTC Assets

Frank A. Fehribach, Ronald C. Rutherford and Mark E. Eakin ()
Additional contact information
Frank A. Fehribach: Arthur Anderson & Co. Valuation Services Dallas, Texas 75202, http://www.arthurandersen.com/
Ronald C. Rutherford: Department of Finance and Real Estate College of Business Administration University of Texas at Arlington Arlington, Texas 76019-0449, http://www2.uta.edu/finance/Default.htm
Mark E. Eakin: Department of Information Systems and Management Sciences College of Business Administration University of Texas at Arlington Arlington, Texas 76019-0449, http://www2.uta.edu/infosys/

Journal of Real Estate Research, 1993, vol. 8, issue 3, 365-376

Abstract: Recent research investigated the relationship between physical factors and the asking price of industrial buildings. We extend prior research by including physical, locational, financial, and economic variables to determine the factors that influence the sales price. This research provides an initial valuation framework for appraisers and is a first step toward the development of an industrial property index. Eleven variables - building size, office space, dock doors, ceiling height, age, distance to the Dallas/Fort Worth Airport, county of sale, industrial cap rate, prime rate, tenant type, and date of sale - are found to explain the sales price of industrial property.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1993
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