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The Commercial Real Estate Data Alliance (CREDA) is an informal community of academics dedicated to achieving data parity with other major asset classes. Specifically, we believe that improved access to and understanding of available data in commercial real estate is key to fostering higher quality research and interactions between academia and industry, to the benefit of the entire CRE community.
The Commercial Real Estate Data Alliance (CREDA) is an informal community of academics dedicated to achieving data parity with other major asset classes. Specifically, we believe that improved access to and understanding of available data in commercial real estate is key to fostering higher quality research and interactions between academia and industry, to the benefit of the entire CRE community.
Background
Background
Birthed in 2016, and with generous support from UNC's Institute for Private Capital and the Wood Center for Real Estate Studies, CREDA has supported scores of academics by sponsoring their attendance at the annual Research Symposium in Chapel Hill. We have built relationships with industry researchers and data providers, and our network has deepened its understanding of existing CRE data resources. Speaking for myself, I feel there to be a greater sense of community among academics researching CRE than when I first started doing research in the field. It has been rewarding to contribute to this community through the creation of CREDA.
Highlights
Highlights
Current affiliates
Current affiliates
CREDA Open Source Property Spatial Identifiers and Matching Methodology
CREDA Open Source Property Spatial Identifiers and Matching Methodology
One of the most challenging aspects of conducting empirical research in CRE is the merging of data sets. As the CREDA White Paper argues, there is nothing close to a CRSP-COMPUSTAT for CRE. Researchers who wish to use data to answer deep questions must often clean and merge multiple data sets. The proprietary nature of these data means that the wheel gets reinvented with each project. The White Paper pointed to the lack of adequate property identifiers that would facilitate merging of diverse data sets. This has been something of a "holy grail" for the CRE industry at large, and the industry is still far from having achieved it (despite multiple initiatives in the private sector). I spent a great deal of time, together with Dave Fisher who is now at Ares, creating an open-source methodology to help chip away at this "identifier" problem.
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A long-form copy of the presentation can be found here.
For source code and documentation, please proceed to the GitHub site: https://github.com/KI-Research-Services/CREDA_tools
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