Baroni, Michel; Barthélémy, Fabrice; Mokrane, Mahdi - ESSEC Business School - 2006
This paper considers the use of simulated cash flows to value assets in real estate investment. We motivate the use of … Monte Carlo simulation methods for the measurement of complex cash generating assets such as real estate assets return … distribution. Important simulation inputs, such as the physical real estate price volatility estimator, are provided by results on …