Realized vs. Required Rates of Return & What it Means to the Real Estate Industry

Fall 2000, Vol 25, No 3 Abstract: The industry is roughly 10 long years past that brain damage period of the late 1980s. All industry players are trying to assess the next phase of the real estate cycle. We tend to study the physical and capital markets, and complete rigorous economic analyses to find clues about… Read more

Implied Warranties of Suitability in Commercial Real Property Leases: Physical vs. Non-Physical Defects

Fall 2000, Vol 25, No 3 Abstract: Most jurisdictions have adopted an implied warranty of habitability in residential real property leases. However, only a handful of jurisdictions have extended similar protections to the commercial tenant. Texas has been at the forefront of the evolution of implied warranties of suitability for a particular commercial purpose in the… Read more

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Factors Influencing CBD Land Prices

Fall 2000, Vol 25, No 3 Abstract: In rapidly moving but thinly-traded real estate markets, attempts at valuation using traditional, or ‘first generation’ approaches can be problematic. Fortunately, other valuation models are available. This manuscript demonstrates the use of an economic model, including unemployment rates and vacancy rates, to value downtown land over time.

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The Emerging Role of the Independent Fiduciary for Non-Traditional Real Estate Investments

Fall 2000, Vol 25, No 3 Abstract: Pension plans have discovered the value of the independent fiduciary in evaluating non-traditional real estate investment opportunities such as joint-ventures, opportunity funds, development programs and the like, which are often sponsored by firms that are not registered investment advisors. Seeking to provide assurance that these investments meet minimum fiduciary… Read more

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Quality Priority in Housing

Summer 2000, Vol 25, No 2 Abstract: The perceived quality of property influences its pricing, marketability, and value. Confirming and communicating quality are crucial to real estate transactions. Subsequent shortfalls of actual quality relative to representations of quality in such communications can impose significant liability for both those who build and sell properties and also for… Read more

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The Art of Real Estate: Understanding the Visual Artists Rights Act

Summer 2000, Vol 25, No 2 Abstract: Building owners, building purchasers, and real estate lenders often face challenges when dealing with art work displayed or commissioned by a real estate property as set forth by the Visual Artists Rights Act of 1990 (“VARA”). This manuscript explores the many issues surrounding VARA and factors that building owners and real estate lenders should consider when contracting with artists and contemplating... Read More

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