... for the financing of commercial real estate. Design/methodology/approach The derivation is the result of simple algebra relating the two most common underwriting ratios: debt service coverage and loan-to-value with the formula for the present value of an annuity. Numerical examples are presented to demonstrate...

...Bill Dimovski Purpose This is the first REIT paper to seek to empirically examine potential influencing factors on the discounts and underwriting fees of Australian REIT rights issues. Design/methodology/approach Using a methodology similar to Owen and Suchard, and Armitage, a sample of 62...

...Ranajit Kumar Bairagi; William Dimovski Purpose The purpose of this paper is to investigate factors influencing the underwriting discount for US Real Estate Investment Trust (REIT) Seasoned Equity Offerings (SEOs). Design/methodology/approach The study provides new evidence on determinants...

...David Gimpelevich Purpose An acute need exists for a practical quantitative risk management‐based real estate investment underwriting methodology that clearly helps guide decision making and addresses the shortcomings of discounted cash flow (DCF) modeling by evaluating the full range of probable...

... have a positive abnormal return. However, these investments have to be executed cautiously as the profitability of such a strategy has to pay attention to the reputation of the underwriter, the cycle in which the IPO takes place and various other important factors. Originality/value The research...

...‐sectors. This implies that banks and financial institutions should apply different underwriting standards for residential properties, mainly for owner‐occupation and non‐residential properties for the purpose of businesses and rental income. In addition, the linkage between macro‐economic variables...