Skip to main content

Main menu

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JPM
    • Awards
    • Editorial Board
    • Published Ahead of Print (PAP)
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

User menu

  • Sample our Content
  • Request a Demo
  • Log in

Search

  • ADVANCED SEARCH: Discover more content by journal, author or time frame
The Journal of Portfolio Management
  • IPR Logo
  • About Us
  • Journals
  • Publish
  • Advertise
  • Videos
  • Webinars
  • More
    • Awards
    • Article Licensing
    • Academic Use
  • Sample our Content
  • Request a Demo
  • Log in
The Journal of Portfolio Management

The Journal of Portfolio Management

ADVANCED SEARCH: Discover more content by journal, author or time frame

  • Home
  • Current Issue
  • Past Issues
  • Videos
  • Submit an article
  • More
    • About JPM
    • Awards
    • Editorial Board
    • Published Ahead of Print (PAP)
  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter
Primary Article

Real Estate Comes of Age

Jim Clayton, Jacques N. Gordon, Frank J. Fabozzi, S. Michael Giliberto, Youguo Liang and Susan Hudson-Wilson
The Journal of Portfolio Management Special Real Estate Issue 2007, 33 (5) 15-26; DOI: https://doi.org/10.3905/jpm.2007.698955
Jim Clayton
Director of Research at the Pension Real Estate Association in Hartford, CT.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: jim@prea.org
Jacques N. Gordon
Global Investment Strategist at LaSalle Investment Management in Chicago, IL.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: jacques.gordon@lasalle.com
Frank J. Fabozzi
Professor in the Practice of Finance & Becton Fellow at Yale School of Management, Yale University in New Haven, CT.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: frank.fabozzi@yale.edu
S. Michael Giliberto
Managing Director at JP Morgan Asset Management in New York, NY.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: michael.giliberto@jpmorgan.com
Youguo Liang
Managing Director and Global Head of Research at Prudential Real Estate Investors in Parsippany, NJ.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: youguo.liang@prudential.com
Susan Hudson-Wilson
Founder and Former CEO of Property Portfolio Research in Boston, MA.
  • Find this author on Google Scholar
  • Find this author on PubMed
  • Search for this author on this site
  • For correspondence: hudwil@gmail.com
  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
Loading

Abstract

Real estate has gained wider acceptance as a legitimate institutional investment. The asset class continues to grow and adopt many of the features of the broader capital markets. International strategies, private equity strategies [with general partner - limited partner promoted fee structures], public REIT corporate governance, structured debt products (commercial mortgage-backed securities and commercial real estate collateralized debt obligations), hedge funds, as well as commercial real estate index-based derivatives are among the topics covered in this issue. Today real estate must compete in the alternative space with private equity, hedge funds, infrastructure and more. Yet, as several of the articles in this edition conclude, real estate retains its distinct features as an asset class; the role of real estate as a portfolio risk reducer looks sustainable over the long-term. Over long and short time periods, its return patterns are rarely in close synchronization with stocks and bonds, despite the adoption of the financial tools and techniques of the broader capital markets. This paradox-further integration with the broader capital markets, yet distinct and separate financial behavior-is the underlying theme of nearly all the articles in the issue.

  • © 2007 Pageant Media Ltd

Don’t have access? Click here to request a demo

Alternatively, Call a member of the team to discuss membership options

US and Overseas: +1 646-931-9045

UK: 0207 139 1600

Log in using your username and password

Forgot your user name or password?
PreviousNext
Back to top

Explore our content to discover more relevant research

  • By topic
  • Across journals
  • From the experts
  • Monthly highlights
  • Special collections

In this issue

The Journal of Portfolio Management
Vol. 33, Issue 5
Special Real Estate Issue 2007
  • Table of Contents
  • Index by author
Download PDF
Article Alerts
Sign In to Email Alerts with your Email Address
Email Article

Thank you for your interest in spreading the word on The Journal of Portfolio Management.

NOTE: We only request your email address so that the person you are recommending the page to knows that you wanted them to see it, and that it is not junk mail. We do not capture any email address.

Enter multiple addresses on separate lines or separate them with commas.
Real Estate Comes of Age
(Your Name) has sent you a message from The Journal of Portfolio Management
(Your Name) thought you would like to see the The Journal of Portfolio Management web site.
CAPTCHA
This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.
Citation Tools
Real Estate Comes of Age
Jim Clayton, Jacques N. Gordon, Frank J. Fabozzi, S. Michael Giliberto, Youguo Liang, Susan Hudson-Wilson
The Journal of Portfolio Management Sep 2007, 33 (5) 15-26; DOI: 10.3905/jpm.2007.698955

Citation Manager Formats

  • BibTeX
  • Bookends
  • EasyBib
  • EndNote (tagged)
  • EndNote 8 (xml)
  • Medlars
  • Mendeley
  • Papers
  • RefWorks Tagged
  • Ref Manager
  • RIS
  • Zotero
Save To My Folders
Share
Real Estate Comes of Age
Jim Clayton, Jacques N. Gordon, Frank J. Fabozzi, S. Michael Giliberto, Youguo Liang, Susan Hudson-Wilson
The Journal of Portfolio Management Sep 2007, 33 (5) 15-26; DOI: 10.3905/jpm.2007.698955
del.icio.us logo Digg logo Reddit logo Twitter logo CiteULike logo Facebook logo Google logo LinkedIn logo Mendeley logo
Tweet Widget Facebook Like LinkedIn logo

Jump to section

  • Article
  • Info & Metrics
  • PDF (Subscribers Only)
  • PDF (Subscribers Only)

Similar Articles

Cited By...

  • Performance of Non-Core Private Equity Real Estate Funds: A European View
  • Google Scholar

More in this TOC Section

  • Do Risk Factors Eat Alphas?
  • An Assessment of Terrorism-Related Investing Strategies
  • Dividends versus Share Repurchase
Show more Primary Article
LONDON
One London Wall, London, EC2Y 5EA
United Kingdom
+44 207 139 1600
 
NEW YORK
41 Madison Avenue, New York, NY 10010
USA
+1 646 931 9045
pm-research@pageantmedia.com
 

Stay Connected

  • Follow IIJ on LinkedIn
  • Follow IIJ on Twitter

MORE FROM PMR

  • News
  • Awards
  • Investment Guides
  • Videos
  • About PMR

INFORMATION FOR

  • Academics
  • Agents
  • Authors
  • Content Usage Terms

GET INVOLVED

  • Advertise
  • Publish
  • Article Licensing
  • Contact Us
  • Subscribe Now
  • Sign In
  • Update your profile
  • Give us your feedback

© 2021 Pageant Media Ltd | All Rights Reserved | ISSN: 0095-4918 | E-ISSN: 2168-8656

  • Site Map
  • Terms & Conditions
  • Privacy Policy
  • Cookies