Sustainability in Commercial Real Estate Markets

Alexander Reichardt provides pertinent information on the business case for sustainable buildings, which offer a large potential to abate climate change, which can be achieved at relatively affordable costs compared to other industries. He discusses– alth

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Die Reihe „Essays in Real Estate Research”, herausgegeben von Professor Dr. Nico B. Rottke FRICS und Professor Jan Mutl, Ph.D. umfasst aktuelle Forschungsarbeiten der Promovenden der Lehrstühle und Professuren des Real Estate Management Institutes der EBS Business School. Forschungs- und Lehrschwerpunkte des Institutes bilden die interdisziplinären Aspekte der Immobilientransaktion sowie die nachhaltige Wertschöpfungskette im Immobilienlebenszyklus. Die Kapitalmärkte werden als essenzieller Bestandteil der Entwicklung der Immobilienmärkte aufgefasst. Die in der Regel empirischen Studien betrachten transaktions- und kapitalmarktnahe Themenbereiche aus dem Blickwinkel der institutionellen Immobiliengewerbe- und -wohnungswirtschaft, wie bspw. Finanzierung, Kapitalmarktstruktur, Investition, Risikomanagement, Bewertung, Ökonomie oder Portfoliomanagement, aber auch angewandte Themen wie Corporate Real Estate Management, Projektentwicklung oder Unternehmensführung. Die ersten 11 Bände der Reihe erschienen bis 2014 auch im Immobilien Manager Verlag, Köln. The series “Essays in Real Estate Research”, published by Professor Dr. Nico B. Rottke FRICS and Professor Jan Mutl, Ph.D., includes current research work of doctoral students at the chairs and professorships of the Real Estate Management Institute of EBS Business School. The research and teaching focus of the Institute constitutes the interdisciplinary aspects of real estate transactions as well as the sustainable value creation chain within the real estate life cycle. The capital markets are regarded as essential components of the development of the real estate markets. The mostly empirical studies consider transactional as well as capital market topics from the point of view of the institutional commercial and residential real estate industry, such as finance, capital market structure, investment, risk management, valuation, economics or portfolio management, but also applied topics such as corporate real estate management, real estate development, or leadership issues in the property industry. The first 11 volumes of the series appeared up until 2014 in Immo-bilien Manager Publishing, Cologne, as well.

Edited by Prof. Dr. Nico B. Rottke Ernst & Young Real Estate GmbH Eschborn, Germany

Jan Mutl EBS Business School Wiesbaden, Germany

Alexander Reichardt

Sustainability in Commercial Real Estate Markets With a Preface of the Editors by Prof. Dr. Nico B. Rottke and Prof. Dr. Matthias Thomas

Dr. Alexander Reichardt EBS Business School Wiesbaden, Germany Unchanged Reprint 2016 Up to 2014 the title was published in Immobilien Manager Verlag, Cologne, in the series „Schriftenreihe zur immobilienwirtschaftlichen Forschung“.

Essays in Real Estate Research ISBN 978-3-658-11738-2 ISBN 978-3-658-11739-9 (eBook) DOI 10.1007/978-3-658-11739-9 Library of Congress Control Number: 2015953450 Springer Gabler © Previously published by Immobilien Manager Verlag, Cologne, 2014 © Springer Fachmedien Wiesbaden 2016 This work is subject to copyright. All rights are reserved by the Pu