Realizing the Value of Corporate Real Estate Management

Titel Realizing the Value of Corporate Real Estate Management
Person(en) Steffen Hartmann, Peter Linnemann, Andreas Pfnür, Boris Siperstein
Zeitschrift Wharton Real Estate Review, Spring Issue 2009, pp. 21-33
Jahr 6/2009
Link ULB

This study examines how corporate real estate management (CREM) departments are viewed within the larger corporate culture. It draws particular attention to the European and U.S. markets, focusing on four specific sectors: banking, energy, telecommunication, and transport and logistics. The study reveals that although corporate real estate remains an important asset on corporate balance sheets, it is currently „under-managed“ in both the United States and Europe, and CREM departments lack prominence in most companies. As a result, companies are not realizing the full value of their real estate assets, and are turning attention to them only in difficult times when property valuations are generally depressed.