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The Property Chronicle

Gateway markets: Is investors’ preference for them warranted?

An important issue for investors is that of how to structure their exposure to commercial real estate. A common allocation strategy is to tilt real estate portfolios towards well-located, high-quality properties in economically important markets, such as New York, Tokyo, or London (i.e., gateway markets).

However, the benefits of holding a large exposure to gateway markets have not been well documented so far. A research paper co-authored by GSEM Professor Martin Hoesli and Ph.D. candidate Louis Johner intends to fill this gap by isolating the impact of macro-location quality, i.e., gateway versus non-gateway markets, on real estate performance.

> Read the article, Portfolio Diversification Across U.S. Gateway and Non-Gateway Real Estate Markets


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