This study examines the correlation of the frequency of the sale of investment‐grade property with national, regional and local variables, including property‐ and owner‐specific characteristics. More specifically, the study identifies the primary factors that “explain” intertemporal changes in transaction frequency in the underlying properties used to develop the National Council of Real Estate Investment Fiduciaries (NCREIF) index. Understanding these factors yields important information that can be used by firms when forming market expectations and developing investment strategies.
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Fisher et al. (2004) studied this question.
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