2026-09-21T13:28:09Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/586452026-06-06T01:05:33Zcom_1721.1_7582com_1721.1_7581col_1721.1_131023
David M. Geltner.
Flowers, Matthew S
Massachusetts Institute of Technology. Center for Real Estate.
Massachusetts Institute of Technology. Center for Real Estate
Massachusetts Institute of Technology. Department of Urban Studies and Planning
2010-09-22T15:59:13Z
2010-09-22T15:59:13Z
2008
2008
http://hdl.handle.net/1721.1/58645
315888415
Thesis (S.M. in Real Estate Development)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, Center for Real Estate, 2008.
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (leaf 69).
This paper introduces three new tools for the analysis and replication of real estate development returns. In particular, this paper discusses advanced sensitivity analysis, real estate development return indexes and synthetic real estate development investments. The advanced sensitivity analysis allows us to produce subjective ex ante return distributions. This analysis will allow developers and investors to "see" the shape of their investments return distribution. The benefits of knowing the shape of the subjective ex ante return distributions is that it may help developers and investors make better decisions and negotiate specific terms with each contributor in the capital structure. The ex post analysis allows us to produce development return indexes useful in the benchmarking of real estate development performance and in the creation of synthetic development investments by way of the new real estate derivatives. The development return indexes are created by transforming MIT's Transaction Based Index (TBI), which tracks stabilized property returns, into development return indexes through the use of a stylized mathematical model.
by Matthew S. Flowers.
S.M. in Real Estate Development
69 leaves
eng
Massachusetts Institute of Technology
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
Urban Studies and Planning.
Center for Real Estate.
Show me the money : a study of real estate development returns
Study of real estate development returns
Thesis
application/pdf
false
Publication
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<Abstract>This paper introduces three new tools for the analysis and replication of real estate development returns. In particular, this paper discusses advanced sensitivity analysis, real estate development return indexes and synthetic real estate development investments. The advanced sensitivity analysis allows us to produce subjective ex ante return distributions. This analysis will allow developers and investors to "see" the shape of their investments return distribution. The benefits of knowing the shape of the subjective ex ante return distributions is that it may help developers and investors make better decisions and negotiate specific terms with each contributor in the capital structure. The ex post analysis allows us to produce development return indexes useful in the benchmarking of real estate development performance and in the creation of synthetic development investments by way of the new real estate derivatives. The development return indexes are created by transforming MIT's Transaction Based Index (TBI), which tracks stabilized property returns, into development return indexes through the use of a stylized mathematical model.</Abstract>
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