TY - CONF T1 - The Best-Owner Principle in Real Estate Management T2 - 11th European Real Estate Society Conference Y1 - 2004 A1 - Loepfe, Andreas AB - Unlike the usual ìmarket valueî, the ìBest-Owner principleî proposes to tie the value of a direct real estate investment ñ seen as a business unit ñ to its owner. In this model the decision whether to add an asset to a portfolio depends on the ownerís ability to extract additional value from this specific property. This approach reflects the individual investorís management skills relative to those of other potential owners. Consequently, there may be well-performing owners focused on low-performing assets. JA - 11th European Real Estate Society Conference T3 - ERES: Conference CY - Milano, Italy U3 - RePEc:arz:wpaper:eres2004_176 J1 - Conference 2004 ID - oai:eres.id:eres2004_176 M3 - 10.15396/eres2004_176 ER -