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.
