Equity real estate returns: comparisons of the Russell-NCREIF index. (Asset Management): An article from: Journal of Property Management

This digital document is an article from Journal of Property Management, published by Institute of Real Estate Management on March 1, 1994. The length of the article is 2499 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The Russell-NCREIF Property Index is the only widely accepted, authoritative source of data needed for asset allocation models for real estate. A statistical analysis shows that the distributions of individual property returns within the integrated leveraged and deleveraged Russell-NCREIF database significantly digress from the normal bell-shaped distribution. Whatever the return measure of the type of property, the distributions exhibit a leptokurtic pattern. This means that the peak is in the middle and thick tails and weak shoulders are present. This shows that non-normal distributions are not only found in other asset classes but also common in real estate. This discovery can pave the way for the use of practical techniques in real estate.

Citation Details
Title: Equity real estate returns: comparisons of the Russell-NCREIF index. (Asset Management)
Author: Michael S. Young
Publication:Journal of Property Management (Refereed)
Date: March 1, 1994
Publisher: Institute of Real Estate Management
Volume: v59 Issue: n2 Page: p56(4)

Distributed by Thomson Gale