期刊名称：International Journal of Japan Association for Management Systems
印刷版ISSN：1884-2089
电子版ISSN：2188-2460
出版年度：2017
卷号：9
期号：1
页码：19-27
DOI：10.14790/ijams.9.19
语种：English
出版社：日本経営システム学会
摘要：Compared with investments in residential and office buildings, investments in healthcare properties in Japan represent a small share of the commercial real estate market. Nevertheless, the need for such healthcare facilities is increasing with Japan's rapidly aging society so increased investment in this subclass of real estate assets is desirable. This paper aims to identify risk factors that are unique to healthcare properties, and which should be considered in making investment decisions. The appropriate disclosure of such risk factors is explored by applying and customizing established measures currently used to evaluate hotel properties. The impact of such disclosure on the market prices of healthcare J-REITs is also examined.
关键词：commercial real estate;risk factor;healthcare property;REIT;operational asset;SummaryOperating Statement;USALI;maximum affordable rent;GOP;management contract
