Triple-net leased property portfolios and operational efficiency: Evidence from the US REIT market

被引：0

作者：

Allen, Marcus T. ^{[1
]}

Huerta, Daniel E. ^{[2
]}

Weeks, H. Shelton ^{[3
]}

Wright, Jesse T. ^{[4
]}

机构：

[1] Florida Gulf Coast Univ, Lutgert Coll Business, Dept Econ & Finance, 10501 FGCU Blvd S,Lutgert Hall LH-2303, Ft Myers, FL 33965 USA

[2] Florida Gulf Coast Univ, Lucas Inst Real Estate Dev & Finance, Lutgert Coll Business, Dept Econ & Finance, 10501 FGCU Blvd S,Lutgert Hall LH-3361, Ft Myers, FL 33965 USA

[3] Florida Gulf Coast Univ, Lucas Inst Real Estate Dev & Finance, Lutgert Coll Business, Dept Econ & Finance, 10501 FGCU Blvd S,Lutgert Hall LH-3345, Ft Myers, FL 33965 USA

[4] Florida Gulf Coast Univ, Lutgert Coll Business, Dept Econ & Finance, 10501 FGCU Blvd S,Lutgert Hall LH-3356, Ft Myers, FL 33965 USA

来源：

FINANCE RESEARCH LETTERS | 2024年 / 65卷

关键词：

Triple -net leases; REIT efficiency; Operational efficiency ratio; REIT portfolio management; REIT managerial efficiency;

D O I：

10.1016/j.frl.2024.105544

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Triple-net leases are legal agreements by which tenants, beyond rent payments, are responsible for operating expenses such as real estate taxes, insurance, and maintenance costs. We examine the relative operational efficiency of Real Estate Investment Trusts (REITs) holding property portfolios consisting of majority triple-net leases. Results suggest REIT holding triple-net leased portfolios are more operationally efficient than their counterparts. Our results suggest that selecting proper lease expense provisions specifying who carries the obligation of operating expenses is a determining factor of REIT operational efficiency.

引用

页数：10

共 13 条

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