Fernandes, Pedro A.; Carvalho das Neves, João; Caiado, … - In: Journal of Property Investment & Finance 42 (2024) 6, pp. 554-575
Purpose This paper studies diversification and value in the investment portfolios of (non-listed) Real Estate Investment Funds (REIFs) exploring how the value of diversification is captured by the market and by investors (beyond reported valuations). Design/methodology/approach We apply the...