Alternative assets represent an increasing share of pension fund assets, and real estate is a cornerstone of that allocation. This paper investigates the trends in pension fund real estate investments over the last three decades, both in private and in public real estate, focusing on the...

Research in real estate finance and economics has developed in an exciting way in the past twenty-five years or so. The resulting theoretical and empirical findings are shining a new light on some of the classic mysteries of the real estate markets. It is good to see that a growing proportion of...