The variation of capitalization rates across submarkets within the same metropolitan area

Author(s)
Yu, Yisheng, 1973-
Thumbnail
DownloadFull printable version (182.8Kb)
Other Contributors
Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.
Advisor
William C. Wheaton.
Terms of use
M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582
Metadata
Show full item record
Abstract
This paper investigates the variation of capitalization rates across submarkets within the same metropolitan area by using a database with 73 transactions of office properties located in nine submarkets of Atlanta during the period from the third quarter of 2000 to the second quarter of 2003. The results show that capitalization rates are quite predictable at the submarket level. Movements of capitalization rates are shaped by local market information, national capital market information and characteristics of individual property. The study also examines the behavior of real estate investors in forming their expectations of future income streams. A cross-sectional model with time dummy variables is used in this paper.
Description
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 2004.
 
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
 
Includes bibliographical references (leaves 47-48).
 
Date issued
2004
URI
http://hdl.handle.net/1721.1/26731
Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Publisher
Massachusetts Institute of Technology
Keywords
Urban Studies and Planning.
Collections