Sanderson, D;
Read, D;
(2020)
Obstacles to Comprehensive Real Estate Asset Management.
Journal of Financial Management of Property and Construction
10.1108/JFMPC-05-2020-0036.
(In press).
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Abstract
Purpose: Motivated by behavioral theories of the firm, this study aims to consider the extent to which knowledge gaps, organizational inertia and conflicts of interest prevent large real estate investment management firms from approaching asset management in a comprehensive manner. Design/methodology/approach: Results of 93 semi-structured interviews conducted with real estate practitioners working in the USA are thematically analyzed. Findings: All of the aforementioned factors are found to influence real estate asset management practices and serve as potential obstacles to operational excellence. Research limitations/implications: The qualitative analysis is limited in the sense that it focuses exclusively on the perceptions of real estate practitioners in the USA who work for relatively large organizations. However, it offers compelling evidence that comprehensive asset management is difficult under the best of circumstances, and becomes even more so in the presence of knowledge gaps, organizational inertia and conflicts of interest. Practical implications: Those working in asset management or with asset managers must be mindful of the obstacles discussed if they hope to encourage and facilitate process improvement. Originality/value: The study contributes to a small but growing, body of research examining the challenges large real estate investment management firms face when trying to derive value from their asset management platforms.
| Type: | Article |
|---|---|
| Title: | Obstacles to Comprehensive Real Estate Asset Management |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1108/JFMPC-05-2020-0036 |
| Publisher version: | https://doi.org/10.1108/JFMPC-05-2020-0036 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10106650 |
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