 Are There Investment Premiums for Mixed-Use Properties?Shohei Nakamura, Richard Peiser and Raymond Torto Journal of Real Estate Research, 2018, vol. 40, issue 1, 1-40 Abstract: We investigate whether properties in mixed-use developments have overall better financial performance than single-use properties. We select four cases that represent recent mixed-use developments in the United States, and compare key financial indicators for properties within and outside a half-mile radius from the project boundaries. Using data from the National Council of Real Estate Investment Fiduciaries, our panel regression analysis shows that office and retail properties within the mixed-use geographies have 37% and 48% higher market values respectively than those outside. Total returns are also higher for office (67%) and retail (63%) within the radius. By contrast, we find no clear return premium for being located close to the mixed-use geographies for apartments. Our findings are mixed and probably support the developer and financier biases against the complexity of engaging in mixed-use projects. Date: 2018 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:rjerxx:v:40:y:2018:i:1:p:1-40 Ordering information: This journal article can be ordered from DOI: 10.1080/10835547.2018.12091489 Access Statistics for this article Journal of Real Estate Research is currently edited by William Hardin and Michael Seiler More articles in Journal of Real Estate Research from Taylor & Francis Journals |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.