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Do Syndications Pay More for Real Estate?
Author(s) -
Beaton William,
Sirmans C. F.
Publication year - 1986
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00383
Subject(s) - apartment , real estate , economics , sample (material) , investment (military) , financial economics , null hypothesis , real estate investment trust , microeconomics , monetary economics , finance , econometrics , chemistry , civil engineering , chromatography , politics , political science , law , engineering
Syndications have been widely used in real estate investment in recent years. Some have argued that syndications have been paying significantly higher prices than other forms of business organization. Using a sample of apartment transactions, we tested for price differences among alternative ownership forms. The results indicate that the null hypothesis of equal price cannot be rejected.