Institutional Real Estate Investing Processes, Due Diligence Practices and Market Conditions

Stephen Roulac

Journal of Real Estate Portfolio Management, 2000, vol. 6, issue 4, 387-416

Abstract: Executive Summary. The institutionalization of the real estate capital markets has created a market in which those who put capital at risk are increasingly separated from those who make the investment decisions. Investors expect their investment fiduciaries' actions to be consistent with the prudent man standard, employing appropriate due diligence prior to investing. Effective due diligence can improve the prospects of investment performance and mitigate loss exposure. The findings confirm that more resources are devoted to due diligence during times of difficult market conditions than during times of optimistic expectations. The preponderance of due diligence factors are considered by the institutional investor to be important, indicating that for it to be effective, it must be comprehensively rather than selectively implemented.

Date: 2000
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DOI: 10.1080/10835547.2000.12089621

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