Link to Paper-1

This subsection links to a study that explores the behavior and performance of institutional real estate investments:

1. “Twenty Years of the NCREIF Property Index”
   by Joseph L. Pagliari, Frederich Lieblich, Mark Schaner, and James R. Webb, published in Real Estate Economics (2001). The study examines the fundamental sources of return within the NCREIF Property Index, including initial earnings yield, dividend payout ratios, earnings growth, shifts in capitalization rates, and other contributing factors.