Dissertations / Theses on the topic 'Real estate leases'
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Ho-Shon, Kevin Peter. "Real Estate Leases and Real Options." Thesis, The University of Sydney, 2008. http://hdl.handle.net/2123/3692.
Full textHo-Shon, Kevin Peter. "Real Estate Leases and Real Options." University of Sydney, 2008. http://hdl.handle.net/2123/3692.
Full textThis thesis builds on the real estate lease model of Grenadier which consists of the Black Scholes PDE and an upper reflecting boundary condition. Extending the method of images of Buchen, a new technique was developed to solve this class of problems. Problems that previously required difficult integration can now be solved with algebra and simple integrals. In addition, the compound option in this framework is solved using this new technique. To the best of our knowledge the solution of the compound problem has not been published. An interesting symmetry between this class of problems and the lookback option was also discovered and described in this thesis. The extension of the method of images to include problems with the reflecting boundary condition in the context of real estate leases was presented at the Financial Integrity Research Network Doctoral Tutorials at the University of Technology, Sydney, in 2006. The presentation was awarded the ``FIRN Best Paper Award''. This paper has been submitted to the Journal of Financial Mathematics for publication. The solution to the compound problem in the context of the upward-only market review option is the subject of the next paper.
Wang, Jing. "Valuing options in commercial real estate leases." Click to view the E-thesis via HKUTO, 2005. http://sunzi.lib.hku.hk/hkuto/record/B34837668.
Full textWang, Jing, and 王晶. "Valuing options in commercial real estate leases." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2005. http://hub.hku.hk/bib/B34837668.
Full textPretorius, Frederik Izak Hendrik. "Liquidity characteristics of commercial real estate leases." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1998. http://hub.hku.hk/bib/B31239195.
Full textPretorius, Frederik Izak Hendrik. "Liquidity charateristics of commercial real estate leases /." Hong Kong : University of Hong Kong, 1998. http://sunzi.lib.hku.hk/hkuto/record.jsp?B20038197.
Full textTimo, Singer. "A review of the application of real options theory to commercial real estate leases /." Hong Kong : University of Hong Kong, 2002. http://sunzi.lib.hku.hk/hkuto/record.jsp?B25939397.
Full textMeyer, Brian S. (Brian Stewart). "Office leases & landlord investment in energy efficiency." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/58634.
Full textThis electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Includes bibliographical references (p. 49-50).
What is the relationship between the structure of leases in the Boston office rental market and how much landlords invest in energy efficient building systems for their existing buildings? I am drawn to this question because it seems to me that there is technology available that would allow the operation of for-rent office buildings to be more efficient in their consumption of energy than they currently are. I investigate this question with the hope that by characterizing the problem, we can start to solve it. To this end, I interview 35 players in the real estate market in Boston in order to determine the relationship between leases and landlord investment in energy efficiency, and if there is any way to increase such investment. The most significant finding of this study is that the lease does not determine the way the market works, rather the market determines the way the leases are written. The result at this time for the Boston market is that leases simply do not incentivize the landlords to make investments in energy efficiency because the tenants do not want to pay for the landlords to do it. The landlords are unable to make significant profit from these upgrades due to existing recapture clauses and operating expense allocation in existing leases, and the payback period on many of these investments does not satisfy the investment horizon of many commercial landlords. They lack pressure and motivation from their tenants, as evidenced by the tenants' refusal to pay higher rents for more efficient buildings. Finally, there is no perception of a premium, in the form of a lower cap rate, paid by the capital markets at the time of sale.
(cont.) This is a very complex issue, with no single, clear resolution. There have been many suggestions as to how this problem may be solved, ranging from a complete change in lease structure, to government intervention through efficiency mandates or taxes, to a laissez faire stance that will allow the market to take care of the problem. I think that none of these in isolation will solve the problem, but that a combination of them all may ameliorate many of the issues. Perhaps the best combination would be to mandate performance or to tax excessive consumption while at the same time developing leases that better address how to share costs and benefits. By doing this, we will set appropriate minimum goals, and provide suitable tools to achieve them. Without both of those pieces, it seems unlikely that much progress will be made.
by Brian S. Meyer, Jr.
S.M.in Real Estate Development
Singer, Timo. "A review of the application of real options theory to commercial real estate leases." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2002. http://hub.hku.hk/bib/B31256934.
Full textKwan, Kit-ying Cindy, and 關潔瑩. "A content study of commercial real estate leases in Hong Kong." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2006. http://hub.hku.hk/bib/B45164587.
Full textTang, Wai-ming Gilbert. "A critical assessment of the impact of professional property management on office building leasing." Click to view the E-thesis via HKUTO, 2002. http://sunzi.lib.hku.hk/hkuto/record/B42576994.
Full textHjertstedt, Nicole. "Strategizing IFRS 16 – Leases and Real Estate : Exploring implementation and contractual strategies relating to new accounting regulation." Thesis, KTH, Fastigheter och byggande, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-230938.
Full textHistoriskt sätt så har operationella leasingavtal varit undantagna från att tas upp i balansräkningen i de finansiella rapporterna. Med anledningen av nya redovisningsrekommendationer av IASB; IFRS 16 – Leasing, med start 2019‐01‐01, kommer operationella leasingavtal inte längre att särskiljas från finansiella leasingavtal, utan också kapitaliseras in i balansräkningen som en nyttjanderättstillgång och en leasingskuld. Det här kommer att påverka balansräkningens komposition, i vissa fall väldigt mycket, i synnerhet för frekventa användare av operationella leasingavtal såsom detaljhandelsbolag och produktionsbolag, och som dessutom har en svagare skuldsida på balansräkningen. Långsiktiga produktions‐ och industriföretag förväntas omvärdera beslut gällande leasa versus köpa då de inte kommer kunna balansera skuldbalansen genom att använda sig av operationella leasingavtal längre. Implementeringen av IFRS 16 kommer att bli svårare på ett administrativt splan för lokalhyresgäster i de fall de inte har system för att hantera finansiella leasar på plats. De tenderar även att ha mindre effektiva system för att samla och hantera sina operationella leasar innan implementering. Detta tenderar att vara vanligare för företag där att hyra lokaler representerar en stor del av företagets operationella strategi, såsom i detaljhandeln som ett exempel. Implementeringen kan vara ett stort projekt för många företag och effekten bli tydlig först närmare implementeringsdatum. Detta kan resultera i att genvägar kommer att tas och i vissa fall kommer resultera i exempelvis större leasingskuld än nödvändigt. De antaganden och justeringar som är möjliga kommer mer sannolikt att tas efter implementering, då incitament även tros bli större att ta till dessa möjliga strategier. En kvalitativ interaktiv och induktiv inriktning med framförallt semi‐strukturerade intervjuer har använts i denna studie för att utforska och möjliggöra att gräva djupare efter möjliga strategiska förändringar som kontraktsmässigt skulle kunna minska effekten på balansräkningen i de fall det finns incitament att göra det. Det finns tendenser som visar på att förändringar är på gång inom detaljhandeln, oberoende av redovisningsförändringarna som i sin tur kan göra att det möjligen kommer bli enklare att argumentera för att ta upp en mindre leasingskuld i balansräkningen enligt IFRS 16, såsom förkortade lokalhyresavtal och mer serviceavtal snarare än hyresavtal.
Tang, Wai-ming Gilbert, and 鄧偉明. "A critical assessment of the impact of professional property management on office building leasing." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2002. http://hub.hku.hk/bib/B42576994.
Full textEnström, Alice, and Andrea Paulsson. "Space-as-a-service: a disruptive concept for the real estate industry?" Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-277086.
Full textDen tekniska utvecklingen av teknik har möjliggjort strukturella förändringar på fastighetsmarknaden, där man går från att sälja yta till att erbjuda ett koncept. Yta-som-tjänst har växt fram från begreppen delningsekonomi, digitalisering och tjänstefiering för att möta efterfrågan på flexibla lösningar på den kommersiella fastighetsmarknaden. Idén med yta-som-tjänst är att erbjuda enkel och flexibel tillgång till ytor samt att tillhandahålla tjänster till hyresgäster för att skapa mervärde. Ur ett hållbarhetsperspektiv är avsikten att minska behovet av nyproduktion och dra nytta av det befintliga fastighetsbeståndet för att möta efterfrågan på lokaler. Tidigare forskning relaterat till yta-som-tjänst fokuserar främst på coworking och delade ytor, men det saknas studier på konceptet ur ett bredare perspektiv och dess framfart på fastighetsmarknaden. Syftet med denna studie är att undersöka om konceptet yta-som-tjänst är disruptivt för fastighetsbranschen samt fastighetsägares inställning till denna utveckling. Resultatinsamlingen genomfördes med en kvalitativ forskningsmetod, där både strukturerade och semistrukturerade intervjuer med kommersiella fastighetsägare i Sverige användes för att få en djupare förståelse för konceptet yta-som-tjänst. Studiens akademiska förankring grundar sig i teorin om Disruptiva Innovationer som används för att granska disruptiva tecken av konceptet yta-som-tjänst. Vi kan dra slutsatsen att drivkrafterna bakom konceptet yta-som-tjänst främst är ökad efterfrågan på besvärsfrihet och flexibilitet i tjänsterna som idag erbjuds av fastighetsägare. Detta skapar en ny och komplex konkurrensmiljö som sätter nya krav på fastighetsägare, de blir tvungna att rättfärdiga för mer än bara läget på en lokal för att behålla sin konkurrenskraft. Vilka roller som fastighetsägare väljer att ta i detta nya landskap varierar sig. Attityderna mot yta-som-tjänst är generellt positiva, men det upplevs finnas flera risker som tillsammans med externa aktörer och regelverk motverkar utvecklingen. Resultatet visar att attityder och trösklar i utvecklingen motsäger varandra och att ett tankeskifte är nödvändigt i flera olika led. Resultatet av vår studie visar att konceptet yta-som-tjänst uppfyller karaktärsdragen för en disruptiv innovation och förväntas expandera till en bredare marknad framöver.
Kristoferson, Ida, and Oscar Lithander. "Flexibla hyresavtal – En växande trend på kontorsmarknaden : Fördelaktigt för fastighetsägare och hyresgäster?" Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-276832.
Full textThe way employees and companies work are changing. The progress of digitalisation iscreating new demands on the design of office and rental contracts. The tenants now require greater flexibility which has resulted in numerous changes to the real estate market for offices. A study was carried out to investigate the attitudes property owners and tenants have towards flexible leases. The purpose was to determine whether it is advantageous for both parties to use flexible leases compared to traditional leases. The study used a qualitative research method in which semi-structured interviews were conducted with property owners,tenants and representatives in the property industry. The study shows that property owners and operators of flexible office space have already begun to innovate new concepts and products in order to meet the changing needs ofbusiness owners. The trend indicates that the number of flexible leases continues to increase thus property owners should adapt accordingly. Furthermore, the study highlighted that flexible leases can be advantageous to both parties,but further implementations are required to also make it beneficial for the property owner.That being said, the property owners that can provide flexible contracts are likely to be in a stronger position in the long term. The study also suggested that traditional leases do not take into account companies' rate of change which subsequently explains the reason for the increased demand for flexibility. In addition, the current rental model and legislation must be reformed to suit today's changing society to enable the implementation of the flexible lease agreement. Increased flexibility inthe rental model would mean that property owners can contribute to a more efficient use of resources and simultaneously take into account the changing needs tenants' have.
Saccsara, Torres Melodie Leonor, and Contreras Maritza Saldivar. "NIIF 16: Arrendamientos y su incidencia en los Estados Financieros y en el Impuesto a la Renta en las empresas del sector Inmobiliario en Lima Sur, año 2018." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/635422.
Full textThis research work denominated “IFRS 16 Leases and its incidence on the Financial Statements and Income Tax in companies of the Real-Estate sector in South Lima, year 2018”, whose aim is to explain to companies in the real-estate industry about leases and their fundamental definitions, as well as the impact on financial statements and income tax. Globalization brings several changes in companies, which is why there is a constant preparation of professionals, to adapt to the changes without this leading to trigger impacts on the main activity of an organization. International financial reporting standards are updated, generating the issuance of a new standard and companies have a deadline to implement the application of the new standards, because each change is due to a matter of improvement in the information to be disclosed. The research work is distributed in five chapters, in Chapter I Theoretical framework, an investigation of the main information was carried out, generally about IFRSs and in detail about IFRS 16, where the concepts of definitions, background, objective, scope, recognition, measurement, presentation and information to be disclosed, as well as the impact on the Financial Statements and the Income Tax. In Chapter II denominated the Research Plan, the problematic situation of the research work is established, determined by the State of the Question, the general problem, the specific problems, the general objective, specific objectives, the general hypothesis and specific hypotheses. In Chapter III Research methodology, the type of research and research design was specified, as well as the population, the sample for qualitative, quantitative research and the data collection instrument to be used. In Chapter IV the Research Development was carried out, where the instruments were applied in the investigation through the in-depth interview, questionnaire and the development of the practical case, finally in Chapter V, the analysis of the results of the investigation was carried out.
Tesis
McMurray, John P. (John Patrick) 1958, and Samuel M. 1970 Mundel. "Real estate lease-backed securities." Thesis, Massachusetts Institute of Technology, 1997. http://hdl.handle.net/1721.1/9872.
Full text"September 1997."
Includes bibliographical references (leaves 83-84).
by John P. McMurray and Samuel M. Mundel.
S.M.
Boyer, Nathan R. (Nathan Roger). "General Services Administration lease procurement : opportunities and challenges." Thesis, Massachusetts Institute of Technology, 2009. http://hdl.handle.net/1721.1/54849.
Full textThis electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
"September 2009." Cataloged from student submitted PDF version of thesis.
Includes bibliographical references (p. 64-65).
In 2009's fragile real estate market, many developers are looking for safe investments for their invested capital. Developers are looking to the federal government, specifically the General Services Administration, for growth and safety. The General Services Administration (GSA) is the contracting body of the U.S. federal government. It is the nation's largest public real estate organization. It leases space from private developers in over 7,100 facilities across the United States comprising office buildings, border patrol stations, courthouses, warehouses, clinics, post offices and many other uses. The GSA pays over $4.6 billion in rent to landlords annually on nearly 181 million square feet of space. GSA is authorized by law to acquire, manage, utilize, and dispose of real property for most federal agencies. The thesis is primarily based on interviews conducted with industry professionals: developers, financiers, brokers, and GSA contracting officials. It looks at the opportunities and challenges of working with the General Services Administration on new lease construction build-to-suits. It focuses on four areas; 1) the lease procurement process; 2) opportunities for new procurements in 2009's market; 3) developer financed new lease construction build-to-suit projects; and 4) opportunities and challenges of financing projects in 2009's credit crunch.
by Nathan R. Boyer.
S.M.
Canon, Timothy R. (Timothy Robert), and Christina A. Fenbert. "The future of lease accounting and its impact on corporate real estate decisions." Thesis, Massachusetts Institute of Technology, 2011. http://hdl.handle.net/1721.1/68193.
Full textThis electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student-submitted PDF version of thesis.
Includes bibliographical references (p. 91-94).
This thesis explores the likely impacts the proposed changes to lease accounting would have on corporate real estate decisions. The Financial Accounting Standards Board (SFASB) and the International Accounting Standards Board (IASB) plan to establish a unified set of principle-based accounting systems into a unified set of principle-based standards in an effort to improve financial transparency and comparability across world markets. One component of this plan, centered on reform of current lease accounting standards, would eliminate the distinction between capital and operating leases and require almost all leases to be recognized as an asset and liability on the balance sheet. This represents a significant departure from the current accounting guidance under Generally Accepted Accounting Principles (GAAP), which requires American companies are only required to disclose only limited information about future operating lease requirements in the footnotes of financial statements. What's more, empirical evidence suggests that many companies structure leases to obtain this type of offbalance- sheet financing that operating leases afford. For companies with relatively large operating lease portfolios, the new accounting standards would have a significant impact on their balance sheets. If these companies consider accounting treatment in their real estate decisions, they may be inclined to pursue alternative real estate strategies to mitigate this impact. That being said, the corporate real estate decision-making process is complex; therefore any strategy aimed at achieving a specific accounting treatment must consider other relevant and potentially more important factors. This study analyzes the proposed changes to lease accounting and explores how corporate real estate managers consider the effects of accounting in their real estate decisions. Specific hypotheses are tested through targeted interviews with a diverse group of public and private tenants and landlords to identify the variables that would determine a particular company's incentive to change its real estate strategy in response to new accounting guidelines. Results of interviews are discussed and predictions are made regarding the future of real estate leasing strategies.
by Timothy R. Canon and Christina A. Fenbert.
S.M.in Real Estate Development
Ferreira, Pedro Manuel Costa dos Reis. "Corporate real estate strategies - a multinational approach." Master's thesis, NSBE - UNL, 2010. http://hdl.handle.net/10362/10298.
Full textCRE strategies have proved to contribute to the creation of competitive advantages by integrating corporate value and the organizational culture across multi-locations. CRE strategies also facilitate attracting and retaining best talent. Through a qualitative research method of case study, this paper examines the impact of changes in the CRE strategies of McDonald’s and Hewlett Packard, both companies being multinational firms that represent the two main segments of CRE: retail and offices. Findings indicate that the changed strategies have provided for increased revenue and higher shareholder value in the case of McDonald’s and enhanced space utilization, comfortable working environment and a global design standard for all offices and workstations of HP. The study also analyzes the option of selling and leasing back CRE assets against owning them.
Poirier, Jodie Copp. "Female leaders in commercial real estate : to the women following in their footsteps." Thesis, Massachusetts Institute of Technology, 2009. http://hdl.handle.net/1721.1/54861.
Full textThis electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
Cataloged from student submitted PDF version of thesis.
Includes bibliographical references (p. 71-73).
Within commercial real estate, women are not as likely as men to achieve senior-level executive positions. Commercial real estate has been slow to change in terms of achieving gender parity, and though improvements have been made in the status of women in leadership positions, gender-based disparity still exists. The purpose of this study is to shed more light on the facilitators and barriers to career advancement of women in commercial real estate who have achieved top-level leadership positions. Thirteen women holding senior-level management positions in the commercial real estate industry were interviewed regarding facilitators to career advancement and notable barriers, the role of mentors, and work-life balance issues. What route did these women take to the top and what did they encounter along the way? Each story told involved some combination of diligent work, the pursuit of opportunities, and the will to succeed. The results from this study supported much of the research that has been done on this topic. Gender barriers, biases, and stereotypes were met along the way, but these women succeeded in spite of these barriers. The women attribute their success to facilitators of career advancement such as a strong work ethic, relationship building and risk-taking. While this thesis shed light on the careers of women in commercial real estate, it also raises at least two questions. How similar are the career paths of women and men in commercial real estate in terms of facilitators and barriers to advancement? Does the glass ceiling appear thin or non-existent once female executives are above it?
by Jodie Copp Poirier.
S.M.
Netzell, Olof. "Essays on lease and property valuation." Doctoral thesis, KTH, Bygg- och fastighetsekonomi, 2010. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-26801.
Full textQC 20101201
Seidler, Harriet. "Real estate developers and child care centers : loss leader or competitive tool?" Thesis, Massachusetts Institute of Technology, 1988. http://hdl.handle.net/1721.1/77519.
Full textBleppony, Ruby. "LEASE VERSUS BUY DECISION OF REAL ESTATE FOR FOREIGN DIPLOMATIC MISSIONS IN STOCKHOM, SWEDEN." Thesis, KTH, Fastigheter och byggande, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-175847.
Full textRosén, Johan. "The Effects of IFRS Lease Accounting Project on the Swedish Commercial Real Estate Market : A qualitative study of the latest developments in IASB’s Leasing project." Thesis, KTH, Fastigheter och byggande, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-102312.
Full textCrockett, Braden R. "The Impact of Tenants Default Risk and Transactional Variables on Value: An Empirical Model of Single Tenant Net Leased Retail Assets." Scholarship @ Claremont, 2015. http://scholarship.claremont.edu/cmc_theses/1055.
Full textHe, Denton(Denton Xiang). "Distribution and replenishment optimization between locations of high and low real estate cost." Thesis, Massachusetts Institute of Technology, 2020. https://hdl.handle.net/1721.1/126902.
Full textThesis: S.M., Massachusetts Institute of Technology, Department of Mechanical Engineering, in conjunction with the Leaders for Global Operations Program at MIT, May, 2020
Cataloged from the official PDF of thesis.
Includes bibliographical references (pages 72-73).
As companies expand and innovate, it is sometimes prudent to be conservative when incorporating new products and technologies. Instead of constructing buildings to store new products, firms may look to optimize re-allocation of space within existing facilities to fit more products and save on one-time capital outlay. In this research, the Distribution Center (which also picks and packs products according to incoming orders) is looking to optimize utilization of offsite storage (and transportation) costs in the face of growing product demand. The DC is situated in a region of High Real Estate cost, and there is potential to increase utilization of offsite leased storage at Low Real Estate cost areas. To investigate potential changes, research will be divided into two parts: Part One looks to optimize product storage within the current Distribution Center and Offsite Warehouse network, by developing a model that incorporates product demand, product sizes and replenishment frequency. Part Two utilizes the built model to investigate alternative offsite solutions, taking into consideration Real Estate costs, transportation frequency and other factors. Previous research papers have looked at the two parts separately, whilst this research aims to link the two parts together. Finally, a simple and easy to use decision-support tool was developed that allows users to periodically review and adjust product allocation based on product information, demand and Real Estate costs.
by Denton He.
M.B.A.
S.M.
M.B.A. Massachusetts Institute of Technology, Sloan School of Management
S.M. Massachusetts Institute of Technology, Department of Mechanical Engineering
Burga, Campos Esteban, Salas Kenneth Orlando Escalante, Cruz Elizabeth Giulianna Hinostroza, and López Richard Salazar. "Fideicomiso de titulización para Inversión en Renta en Bienes Raíces “Fibra”." Master's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/626427.
Full textIn Peru, there has been an economic slowdown that has affected the growth of the construction sector, if we add to this the lack of management for infrastructure projects due to the lack of capacity of the authorities on duty, this slowdown in the country has affected the public sector as private generated by corruption scandals in the country. Despite this adverse climate, the country maintains a stable economy and a positive growth projection. It is very important for the government to boost economic growth through infrastructure development and investment generation, which is why it has created a series of measures that generate new forms of real estate investment through the stock market. Thus, since 2016, it has been publishing a series of regulations that create and regulate the Securitization Trusts for Real Estate Investment Investment (FIBRA), which in other countries are known as REITs. With the development of this research work we will announce this new form of alternative financing for real estate investment called FIBRA, which democratizes the real estate sector, in addition to offering a series of tax benefits for investors and for property owners, who can convert their property into a liquid asset and diversify their investment.
Trabajo de investigación
Hutchinson, Jeffrey E. (Jeffrey Ernest) 1970. "Master lease & leaseback of government owned real estate : a model for a fixed income investment product." Thesis, Massachusetts Institute of Technology, 2003. http://hdl.handle.net/1721.1/29961.
Full textIncludes bibliographical references (leaf 51).
Throughout the United States, significant taxpayer capital is unnecessarily tied up in the ownership of state and municipal government buildings. Today, multiple state and municipal governments face record budget deficits, and are struggling to find ways to raise revenues and decrease annual operating costs in order to close these budget gaps. At the same time, substantial amounts of investor capital from both public and institutional funds, as well as private investors, sits idle, as there is a lack of opportunity for safe, moderate-return long-term investments in today's markets. This thesis investigates the benefits and drawbacks to an investment structure, similar to the commonly used corporate sale-leaseback, that can be used to free capital that is tied up in existing government-owned real estate, while allowing governments to retain long-term ownership of these assets. It also presents the methodology for syndicating these investments into rate-able fixed income products, similar to municipal bonds or CMBS. These investments and the associated participation instruments create arbitrage opportunities for underwriters and syndicators of Government Lease Backed investments, and generate capital flows in the tens of billions of dollars. The models presented may be applied to federal, state and municipal government assets alike. However, this thesis focuses on the application of the models to assets owned by the State of California, as it currently has one of the most significant budget crises in the country, as well as the largest state-owned real estate portfolio.
by Jeffrey E. Hutchinson.
S.M.
Vencálková, Ludmila. "Analýza realitního trhu v ČR a ve Francii se zaměřením na rezidenční objekty." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-367504.
Full textLindqvist, Rut, and Marcus Privén. "Mäklarpappan - En kvalitativ studie om vilka faktorer som påverkar manliga mäklare i valet att ta ut pappaledighet." Thesis, Malmö universitet, Fakulteten för kultur och samhälle (KS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:mau:diva-23963.
Full textThe purpose of this study is to examine which factors real estate agents consider to influence them in the choice of taking paternity leave and what role organizational culture has. The aim of the study is to answer following questions:●Which factors fathers specify within the real estate brokerage industry as crucial in the choice of taking paternity leave?●What role does organizational culture play?The result of the study is based on six qualitative, semi-structured interviews with brokers who either will, are, or have been on paternity leave. As theoretical framework Schein's three levels of organizational culture was mainly used followed by scientific publications that linked organizational culture with paternity leave and parental leave. The result show that organizational culture within the real estate brokerage industry is an obstacle that needs to be developed to encourage equality regarding parental leave in the workplace. In-depth studies seems required as to what actions real estate companies need to take to influence broker’s constant availability and change the image of the ideal broker.
Aguilar, Ruiz Juan Patricio. "La relación entre el uso de las herramientas de marketing digital y la captación de leads en el sector de bienes raíces." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/652105.
Full textThis research will seek to determine the relationship between the use of digital marketing tools and lead acquisition in the real estate sector between men and women between the ages of 26 and 45 of socioeconomic levels A and B of Metropolitan Lima. Given the relevance that internet has acquired in recent years as a promotion and sales channel and the concentration of real estate offer in the digital space, it is important to understand the effectiveness of the implementation of digital marketing tools and their relationship with current platforms for be able to efficiently complement a traditional strategy that allows to enhance lead acquisition and positively influence the final purchase decision of the real estate. Among the main results of the study, it can be concluded that, currently, digital users are mostly in the search for real estate in the coming years. They are familiar with digital platforms, real estate mechanics to obtain quality information from their potential clients and are willing to provide personal data via digital channels. Within this context, it was determined that the implementation of digital tools within the marketing strategy of real estate organizations directly impacts lead acquisition. Therefore, it is vital to know the relationship between these tools and digital users to develop a comprehensive online strategy of high impact.
Trabajo de investigación
Hayder, Bourguiba Neil. "Avyttringar av kommunala fastigheter, vilka fastigheter säljer kommunen och vilka konsekvenser kan det få?" Thesis, KTH, Fastigheter och byggande, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-280793.
Full textThis work analyzes Uppsala and Gothenburg's municipal property sales and the consequences that these sales may have for the municipalities. The municipalities of Uppsala and Gothenburg both have low self-financing rates and therefore one of their goals is to increase this. In order to achieve the goal, the two municipalities will carry out sales of municipal properties. The properties that the municipalities have decided to sell are predominantly commercial properties but also some community properties. Uppsala intends to sell larger strategic properties that contain shopping centers, while Gothenburg sells non-contiguous properties that are not considered strategic. Uppsala's sales are three times larger than Gothenburg's in terms of area, and the price per square meter is higher. Therefore, Uppsala receives about five times higher revenues than Gothenburg. These sales can have different possible consequences for the municipalities depending on the type of property being sold. When selling commercial properties, the added value may well outweigh the risk. In Uppsala's case, large and important properties are sold that are part of the municipality's new investment. If the properties are bought and managed by the right player, the properties can raise the attractiveness of the entire municipality. In addition, competition in the market increases and time is freed up that the municipality can do other things with. Gothenburg sells smaller, non-strategic properties and the upside for the municipality is not as great as for Uppsala, but they take significantly less risk and a weak buyer would not affect the municipality as negatively as in Uppsala's case. Negative effects that this sale can have are lost economies of scale when the property changes owners. The municipalities also lose control of the properties as a result of the change of ownership. When it comes to community properties, a favorable arrangement would be that they are sold but that the municipality then rents them back. Then the municipality receives capital and other positive effects can arise such as increased flexibility and lower rents. The outcome of the transaction depends entirely on the design of the agreement. It is therefore of the utmost importance that the municipality is careful when writing agreements.
Suiter, Emily E. "The effect of education on employee turnover of apartment leasing consultants." Virtual Press, 2002. http://liblink.bsu.edu/uhtbin/catkey/1237763.
Full textDepartment of Family and Consumer Sciences
Portová, Nikola. "Nájemné bytu a faktory, které je ovlivňují ve vybraných lokalitách v Brně." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2015. http://www.nusl.cz/ntk/nusl-233184.
Full textKellnerová, Sabina. "Nájemné bytu a faktory, které je ovlivňují ve vybraných lokalitách města Brna." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2019. http://www.nusl.cz/ntk/nusl-399592.
Full textÖdmark, Victoria. "Samhällsfastigheter som investeringstrend : Hur kan priset motiveras utifrån det man vet om framtida kassaflöden?" Thesis, KTH, Bygg- och fastighetsekonomi, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-96570.
Full textThere is currently a trend in the willingness to invest in public property, i.e. properties where different types of community services are provided. The advantage of this type of investment is that owners can sign long leases with tenants such as municipalities, counties and the state, providing secure cash flows and low vacancy risk. The investment market for public properties is relatively new to private operators as these properties have previously been owned almost exclusively by the municipality and county. Today, for various reasons, the municipalities and counties have decided to sell their properties and rent them back from specialized property owners. The study aims to identify the uncertainties/risks that are associated with investment and management of public properties, with a special focus on care properties in Sweden. An investment calculation and a sensitivity analysis were made through studies of three care property transactions in 2011 and interviews with the participating actors. The calculation and analysis have been the basis for the conclusions drawn. Investing in public real estate has proven to be a relatively stable and safe investment. The net operating income of the long leases that contribute to the investment could be considered as being paid back during the first contract period, assuming that no unexpected costs arise. The main risks that exist in these properties is salvage value risk due to severe alternative use for these tenant adjusted buildings, technical risk as the properties need to maintain standard and essential functions and at last political/legal risk where changes in demography, environmental laws, regulations and requirements affect public property development. Companies that invest in public real estate are usually focused on this type of investment, which through enhanced capabilities in the area contributes to a good and long-term relationship with tenants. Furthermore, the players involved have a rather homogeneous view of delegation of responsibility, contract structure and so on. Moreover, the demographic development in the country shows a high demand for public buildings in the future and especially in nursing and care homes.
Switlyk, Michael. "The economic standing of the partnership companies which lease agricultural real estate from the agricultural property agency of the state treasury in Gorzów Voivodeship in 1996 and 1997." Universität Potsdam, 1999. http://opus.kobv.de/ubp/volltexte/2011/4885/.
Full textHe, William, and Josef Kahn. "Varför lämnar man fastighetsmäklaryrket? : En studie om varför tidigare mäklarstudenter lämnar yrket och vad de gör idag." Thesis, KTH, Fastighetsföretagande och finansiella system, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-296617.
Full textBackground: Real estate agents are people who provide real estate services. As a registered real estate agent you can mediate commercial facilities, condominiums, houses and land. To become a real estate agent in Sweden it requires an education within real estates that runs two to three years. The problem that this study is going to look more into is the fact that there are real estate agents who quit their jobs and do something else, regardless of the time and effort they have put into becoming one. Aim: The purpose of this work is to map and explore what the Royal Institute of Technology students in the program of Real Estate and Agency do after graduation, if they are Real Estate Brokers at present or if they have chosen to take a different path. This mapping is done by examining its underlying factors. Method: With help from conducted interviews knowledge has been gained within the central themes of the study. This has been made by graduates from the Royal Institute of Technology. Theory: Even though the path to become a registered real estate broker is long and hard, many people tend to leave the idea of becoming a real estate broker after graduation. The reasons might be the commission or ill health. Analysis: By comparing the theories and the interviews made, of why a certain person tends to leave the profession -real estate broker. We found that it is more than just commission and ill health as reasons, apparently, there are reasons such as parental leave, worktime, person job fit. Result and Conclusion: As a result, we found that the reasons why a student leaves the profession - real estate broker is mainly because of commission, ill health, parental leave, work times, and person job fit. It is mostly a combination of all these rather than one alone. And even if the student is currently not a real estate broker, he/she is still working in the area of real estate and finance. In conclusion, we think it mostly is because the school and the respective office of the real estate broker are not preparing the student enough for the profession.
Stome, Martina. "Daňové aspekty nájmu a prodeje nemovitých věci." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-206180.
Full textHelísková, Pavlína. "Nemovitost v podnikání z účetního a daňového hlediska." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-151517.
Full textIsraelsson, Rasmus, and Vincent Lanner. "MOTIVERANDE LEDARBETEENDEN I FASTIGHETSMÄKLARBRANSCHEN : Ur ett ledarskapsperspektiv." Thesis, Högskolan i Gävle, Företagsekonomi, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:hig:diva-36168.
Full textTitle: MOTIVATING LEADERSHIP BEHAVIORS IN THE REAL ESTATE AGENCY INDUSTRY - From a leadership perspective Level: C-thesis in the subject business administration Authors: Rasmus Israelsson & Vincent Lanner Supervisor: Monika Wallmon Examiner: Svante Brunåker Date: June 2021 Aim: The aim of this study is to investigate how motivating leadership behaviors are expressed within specific brokerage firms. Focus is on goal path theory and internal competition. Empirical data: In the empirical part of the essay, a compilation of the interview answers is presented, which we considered to be most important based on the path-goal theory. Method: A qualitative method was used to conduct the study. Conclusion: The conclusion is that internal competition and the path-goal theory can both create motivation for employees. Internal competition is a phenomenon that can be controlled with the help of the path-goal theory to a motivating factor. Contributions of the thesis: Previous research has mainly focused on case studies focusing on the path-goal theory. This study has examined the connections between the path-goal theory and internal competition and focused on an industry that has not previously been studied with the path-goal theory. Suggestions for further research: Further research that is recommended is to also include employees in the study in order to gain a broader perspective on the problem. Keywords: internal competition, motivation, leaders, real estate agent, path-goal theory
Branchut, Jean Michel. "L'évolution de la norme environnementale dans le secteur immobilier : l'exemple du bail vert." Thesis, Paris 2, 2015. http://www.theses.fr/2015PA020041/document.
Full textArisen from the contractual Anglo-Saxon practice and codified in France thanks to the ‘Grenelle Laws’, the green lease contract aims at improving the environmental and energy performance of a commercial building. At the international level, this contractual tool constitutes an element of the struggle policy against human greenhouse gas emissions that has been claimed in the late 1990’s by the UN and the EU. Beyond its legitimacy,the implementation of the green lease points out diverging interests, varied conceptions of sustainability,multiple rights of property usage, revealing the duality subject/object expressed on the urbanization phenomena between man and nature. As the green lease is a child of economic liberalism, it reveals the discrepancies of sustainability in the real estate sector. It is the fruit of an heighten anthropisation and turns out to be a soft standard, harsh to implement in France.Recovering the legal usefulness of the green lease involves a disenchantment of the mediatised presumptions towards sustainability so as to access to the knowledge of its ‘must-be’ contractual. This catharsis of the principle is imperative to re-establish the efficiency of the ‘state-of-being’ of the contract, i.e. the consent of landlords, tenants and facility managers around the same project of environmental improvement. Nonetheless, this type of contract won’t be able to recover its target without the compelling intercession of the superstructural institutions committed in establishing the binding nature of the environmental norm. This thesis works on provoking a doctrinal interest for this new embranchment of the law (sustainability in real estate), butalso on suggesting to the legislator a genuine admittance process of the French green lease status. This thesis invites the norm producers to reconsider the legal practice of sustainability in the city by implementing leverages that generate a new legal paradigm
Tesková, Kateřina. "Nájemné bytu v Opavě a faktory, které je ovlivňují." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2013. http://www.nusl.cz/ntk/nusl-232750.
Full textDahlberg, Mattias. "Förhandlingen – Av kommersiella hyresavtal." Thesis, KTH, Fastigheter och byggande, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:kth:diva-183536.
Full textThe establishment of a commercial lease in Sweden is done through negotiation between the parties involved. This work provides insight into how tenants and landlords reason before and during negotiation of the lease. The work is a qualitative study based on interviews with tenants and landlords with extensive experience of the market for commercial office space in Stockholm. Contract and negotiation theory compose the framework for the paper and the main problem in the subject relates to asymmetric information. Asymmetric information means that one party has more information than the other, and can thus have a stronger negotiating position. There are methods to counter the phenomenon, for example by allocating resources to find out more information about the counterpart (screening). There are also ways to take advantage of information asymmetry, for instance by creating a positive image of oneself (signaling). The results give a clear picture of the problems that occur on the market and some solutions that tenants and landlords use to improve their bargaining power and the terms of the lease. The paper is done mainly through deduction of the theory. The empirical data also show the conditions of the current market. Purpose The aim is to identify the actual problems of a rent negotiation and how tenants and landlords go about tackling the difficulties. The goal is to gain understanding of how tenants and landlords evaluate the various terms of the lease and how it affects the negotiation. Research questions - Does asymmetric information occur when negotiating commercial lease? - To what extent do landlords and tenants use screening and signaling? - How do landlords and tenants value the various conditions in the commercial lease? Method The study is qualitative and consists of interviews with selected representatives from both tenants and landlords operating in Stockholm. The people interviewed have been selected in light of their experience in the negotiation of commercial leases. They have also been selected to create a mix of tenants with different activities and landlords with the various objectives of management. Respondents were asked to respond on how they value the terms of the contract that builds the foundations of a commercial lease, and how they use the signaling and screening. Demarcation To create structure and make it possible to analyze the results, a limitation of the geographical scope of the study. The geographical area is Stockholm. The study also restricts itself to only touch the commercial lease for office. Conclusions - The problem of asymmetric information is apparent in the negotiation of commercial leases in Stockholm. According to both landlord and tenant, the landlord is the party with the upper hand in terms of information. The main information gaps between the parties are market knowledge and negotiation experience. - Screening is used by both tenants and landlords, primarily to minimize risk and strengthen the bargaining relationship. - Signaling is used by both tenant and landlord. Tenants generally work with their brand, but not specifically for the lease negotiation. The landlord is more focused on establishing their brand in order to enabling business. Something that is natural since the lease is their main source of income. - Hidden characteristics is used by the landlord at a greater extent than the tenant. This is often done by not showing their true nature. They claim, for example, to not be able to negotiate particular clauses, when in fact they can. Everything is negotiable.
Prokeš, Jakub. "Daňová specifika úpravy pronájmů v podmínkách NOZ." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2016. http://www.nusl.cz/ntk/nusl-234807.
Full textDavidsson, Jessica, and Gabriella Granbom. "Är mammaledighet en förlustaffär för kvinnliga fastoghetsmäklare? : En kvalitativ studie om mammaledighetens påverkan på kvinnans karriär." Thesis, Karlstads universitet, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-68109.
Full textThis study was intended to describe how female real estate agents experience that maternity leave may affect their careers. We wanted to investigate whether future mothers experience an anxiety before and after maternity leave and to what extent they consider that the salary model would be an influencing factor. Furthermore, we wanted to investigate whether the profession of real estate agent is adapted to maternity leave, if the competition in the industry affects whether the profession can be combined with children and if there are any barriers that affect the woman's career when she returns to work after maternity leave. The approach for work was qualitative studies in the form of interviews with female real estate agents. Our result showed that the real estate agent's profession is adapted for maternity leave, but on the other hand not for when she returns from maternity leave. The majority of respondents said it was the toughest part when they returned after their maternity leave. The competition in the industry affects whether the profession can be combined with children both before and after maternity leave. There are barriers that affect the woman's career on the return after maternity leave and the biggest obstacle is that she is no longer as available as before, due to becoming a mother. We believe further research should study the reason more profoundly why women chose to stop working as a real estate agent after their maternity leave. As well as investigating whether there is any vision or a plan within the industry organization, to reduce the number of deregisters among female brokers who choose to acquire a family. Replacing our female respondents, to men who have been parental leave, and apply our study on these is another suggestion for further research. The study can inspire the industry and the unions to formulate more stable and better terms, better conditions and greater security for maternity women. The study can also provide employers with an insight into, knowledge and understanding of how women's real estate agents are affected by their maternity leave and fulfill the gap of knowledge that exists.
Ben, Saad Lakhal Asma. "Etudes sur le rôle de l'immobilier dans la stabilité économique et financière en France." Thesis, Orléans, 2018. http://www.theses.fr/2018ORLE0502.
Full textThis thesis contributes to the topical debate on the role of real estate in the economic condition as well as in the stability of the financial system. After highlighting the scale of a real estate crisis, we evaluate the impact of a real estate price shock on the business cycle (Chapter 1). We show that, in France, the housing wealth effect is more important than the equity wealth effect. We conclude that housing prices significantly impact the business cycle. Then, we measure the impact of activity in the real estate sector on overall economic activity (Chapter 2). Our empirical research proves that residential investment only plays a minor role in the cyclical fluctuation. The two most influential components in the business cycle are the trade balance and household consumption. Finally, we expose the role of residential real estate in the stability of the French financial system (Chapter 3). We analyze the dynamic interaction between the housing credit market and the evolution of real estate prices. This interaction generates the vicious spiral that explains the formation of property bubbles. This is why we are interested in the evaluation of monetary and macroprudential policies effectiveness to control the evolutions of real estate prices. Our results show that the down-payment rate is the most appropriate instrument to achieve this objective
Novotný, Jaroslav. "Nájemné bytů v Olomouci a faktory, které je ovlivňují." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2016. http://www.nusl.cz/ntk/nusl-241351.
Full textKotrla, Tomáš. "Posouzení výhodnosti koupě bytové jednotky v lokalitě Brno Kociánka a Sadová." Master's thesis, Vysoké učení technické v Brně. Ústav soudního inženýrství, 2017. http://www.nusl.cz/ntk/nusl-319160.
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