Investment Opportunities for Private REITs and RELPs Bankrupt Properties: An Empirical Examination

Timothy A. Jones, Justin D. Benefield and Jocelyn Evans

Journal of Real Estate Portfolio Management, 2016, vol. 22, issue 1, 31-46

Abstract: This paper provides the first large-sample evidence on privately-held real estate firm bankruptcy asset sales within Chapter 7 and 11. Section 363(f) of the Bankruptcy Code authorizes a sale of property free and clear of any interest in such property. Using a unique dataset, we find that 65.9% of private real estate investment trusts (REITs) and real estate limited partnerships (RELPs) sell assets within bankruptcy. The results reveal that RELPs are liquidated and sold more often than REITs and the REITs that survive and avoid asset sales are those that have captive relationships with a parent corporation.

Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2016.12089978 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:repmxx:v:22:y:2016:i:1:p:31-46

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/repm20

DOI: 10.1080/10835547.2016.12089978

Access Statistics for this article

Journal of Real Estate Portfolio Management is currently edited by Peng Liu and Vivek Sah

More articles in Journal of Real Estate Portfolio Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().