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Cover Story
Aftershock
New York Mayor Rudy Giuliani says it could take a year or longer for downtown Manhattan to dig out from under the rubble created by the September 11 terrorist attack on the World Trade Center. A close look at the tragedy’s impact on office owners and tenants. |
Special Report
REITs Join the Club
Standard & Poor’s reversed its long-standing ban on real estate investment trusts in its equity indices, saying Equity Office Properties will be included in the S&P 500 after the close of trading on October 9. What’s the impact of joining the club? |
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Editor's Note
No Words
Under The Microscope
The Minnows Still Beat the Sharks
After a boom of IPOs in the mid-1990s, REITs began consolidating. Thirty-six mergers and acquisitions have been announced since 1996. But have the deals pannedout for investors?
Investment Fundamentals
The Impact of Market Variations on Cap Rates
Cap rates move like P/E ratios but only if appraisers form expectations about future income growth by looking myopically backward and not forward. Understanding the idiosyncrasies of appraisal-based pricing.
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