Real Estate Issues articles from September 2000

Real Estate Issues archives from September 2000

EDITOR'S STATEMENT.(Brief Article)(Editorial)
September 22, 2000... Richard Marchitelli The bravado of the dot.com world is aptly captured by the advertising slogan of deal.com: "Industries collide. Billions change hands. New world orders emerge." At the same time, a discernible loss of swagger is...

RECOGNIZING FORMER EDITORS IN CHIEF.
September 22, 2000... Nearly 25 years ago today, I read my first edition of Real Estate Issues (REI). As a young professor and journal article author at the University of Southern California, I was looking for publication opportunities for articles whose content has...

THE EMERGING ROLE OF THE INDEPENDENT FIDUCIARY FOR NON-TRADITIONAL REAL ESTATE INVESTMENTS.
September 22, 2000... A recently published survey of pension plan sponsors [1] attempted to make big news of the fact that a number of the plans intended to reduce their respective allocations to real estate investments in the future. What is surprising about the...

REALIZED VS. REQUIRED RATES OF RETURN & WHAT IT MEANS TO THE REAL ESTATE INDUSTRY.
September 22, 2000... INTRODUCTION Today's institutional real estate environment is dynamic. One only has to take a brief look at its storied past to see the roller coaster ride it has taken over the past 20 years. Fortunately, institutional real estate has...

HOTEL OPERATORS OPEN PANDORA'S Box: FROM "AGENT" TO "FIDUCIARY" & BEYOND.
September 22, 2000... ONCE UPON A TIME... MANAGEMENT AGREEMENTS WERE INVENTED Once upon a time hotel operators owned the hotels they operated. Then, needing to lessen the intense capital requirements of ownership, hotel companies began to experiment with...

PROPERTY MARKETS, MONOPOLIES & MICROSOFT.
September 22, 2000... The Court's judgement that Microsoft violated antitrust laws has profound consequences that extend beyond the computer industry. This renewed spotlight on the issues of market dominance raises questions for the advocates of consolidation in any...

IMPLIED WARRANTIES OF SUITABILITY IN COMMERCIAL REAL PROPERTY LEASES: PHYSICAL VS. NON-PHYSICAL DEFECTS.
September 22, 2000... INTRODUCTION Although not readily apparent, the subject of implied warranties in commercial real estate lease agreements is important to everyone in society and substantially impacts the national economy. It is a waste of a commercial...

FACTORS INFLUENCING CBD LAND PRICES.
September 22, 2000... Pricing land in central business districts (CBD) offers a challenging paradox. During economic "boom" times, the conventional wisdom is that land values should soar with increasing demand and decreasing vacancies. Conversely, accurate...

RECOGNIZING THE FUTURE: REAL ESTATE & THE NETWORKED ECONOMY.
September 22, 2000... BACKGROUND Alvin Toffler, author of the 1970 forward looking Future Shock, prefers to describe phases in human history as a "series of waves." The first-wave transformation was human development of "agriculture." The second was the...

SOME PRINCIPLES OF REAL ESTATE COUNSELING.
September 22, 2000... INTRODUCTION My career as a real estate consultant began over 50 years ago when, while still in high school, I started counting pedestrian traffic on Chicago's State Street for my father's firm, Real Estate Research Corporation. After I...

WATCHING THE TIDES.(Brief Article)
September 22, 2000... Apologists for the high stock market valuations that have so enthused Wall Street point to the huge worldwide capital pool that is keeping the economy buoyant. So long as we avoid a 1930s-style deflation that shrinks the real amount of wealth...

USING PRIVATE REITS FOR JOINT VENTURES WITH FOREIGN INVESTORS.(Brief Article)
September 22, 2000... In recent years there has been increasing interest in structuring a joint venture between one or more U.S. investors in real estate and one or more foreign investors as a private real estate investment trust, or REIT. (The term "investor," as...

TECHNOLOGY PLAYS A HEAVY MARKET ROLE.(Brief Article)
September 22, 2000... Every other word today is technology, or at least that is the way it seems. But although technology is 90 percent of the "buzz," it is a far smaller portion of key measures of economic strength. Nevertheless, the buzz is dramatically affecting...

CULTURE MATTERS: How VALUES SHAPE HUMAN PROGRESS.(Review)
September 22, 2000... Edited by Lawrence E. Harrison & Samuel P. Huntington Basic Books, [C] 2000 348 pages Culture Matters is a collection of 22 papers concerning the role of culture in human life. The papers were submitted at a symposium, "Cultural...

ABOUT THE COUNSELORS OF REAL ESTATE[TM].(Brief Article)
September 22, 2000... The Counselors of Real Estate, established in 1953, is an international group of high profile professionals including members of prominent real estate, financial, legal and accounting firms as well as leaders of government and academia who...