Call for Papers: Real Estate Economics Special Issue on Commercial Real Estate Finance and Investment

Commercial real estate (CRE) markets are continually changing. Public and private real estate valuations have diverged in 2022, and the gaps have yet to close. These divides have highlighted the disparities between market-based and appraisal-based valuations; they have also limited transaction market liquidity. Other developments, including remote work arrangements, the evolution of the retail and industrial sectors to adapt to e-commerce, and demographic changes, continue to change the nature of the demand for space. As the U.S. and global economies have changed, the real estate that houses the economy has also evolved. “Modern economy” property sectors now account for most of the equity market capitalization of the FTSE Nareit All Equity Index. Technological advances in AI and PropTech are impacting investment analyses and approaches. Institutional investors are increasingly concerned with environmental stewardship, social responsibility, and corporate governance. Institutional investors also continue to invest heavily in illiquid forms of real estate despite some apparent drawbacks. CRE owners are under pressure in the face of growing climate risks, demand shifts, and new regulations. Further, lenders and financial regulators are increasingly concerned about the exposure of the banking system to the CRE asset class.

Considering the important changes affecting CRE markets today, the editors of Real Estate Economics (REE) are pleased to announce a call for papers for a Special Issue on Commercial Real Estate Finance and Investment. Liang Peng (PSU) has agreed to serve as guest editor. We welcome studies relating to all CRE finance and investment issues. We encourage submissions that address real estate investment trusts (REITs) and the economics of public versus private CRE ownership.

While we expect that most of the papers accepted for publication in this special issue will be innovative, high-quality papers addressing specific research questions, we also welcome papers that provide a review of the literature. All submissions are expected to meet REE’s usual high standards for publication. Submissions are open until January 31, 2024. Authors should submit papers using the REE submission website and select “Special Issue on Commercial Real Estate Finance and Investment.” Papers will be entered into the review process as they are received.

The Center for Real Estate & Urban Analysis at The George Washington University will host a conference prior to the AREUEA National Meeting in Washington, D.C., on May 28-29, 2024, for select papers that received revise and resubmit requests for the special issue. The conference will begin with a welcome dinner on May 28^th and will conclude at the end of the day on May 29^th. If you are planning on attending the AREUEA National Meeting, it should be easy to attend this conference as well. The event will be held at the Center for Real Estate and Urban Analysis at The George Washington University with joint sponsorship by Nareit, The George Washington University, the University of Wisconsin-Madison, and the Borrelli Institute for Real Estate Studies at the Penn State Smeal College of Business. There is no registration fee for the conference, and meals will be provided. Unfortunately, we cannot reimburse travel and hotel costs.