A Commercial Real Estate Matching Method for Return Estimations
Spenser Robinson () and
Alan Reichert ()
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Spenser Robinson: Central Michigan University
Alan Reichert: Cleveland State University
Journal of Real Estate Research, 2015, vol. 37, issue 4, 563-596
This paper applies hedonic regression to estimate the grid adjustment factors for a national sample of commercial office properties. The paper demonstrates the viability of hedonic grid regression in commercial real estate. Several robustness tests are employed to test the reliability of the empirical results. The study finds that the hedonic approach yields slightly more accurate and stable prediction result than a basic matching model without hedonic adjustments.
JEL-codes: L85 (search for similar items in EconPapers)
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