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Local Factors Determining COVID-19 Exposure and Property Cash Flows:

Evidence from the Canadian REITs

This project will help improve the understanding of the impact of COVID-19 on Canadian commercial real estate and REIT markets analyzing across property types. The project also aims to identify local factors helping COVID-19 spread and which ones of those matter for property cash flows using the deep learning methodology. The project will also document whether these factors are priced by the investors in the stock markets. Taken together, these analyses will jointly reveal what local factors affect the geographic exposure of Covid-19 using census and neighborhood datasets.


John Molson School of Business, Concordia University


Erkan Yönder, John Molson School of Business, Concordia University, Canada, Co-Leader




Erkan Yönder

Erkan Yonder is working as an assistant professor of Finance and Real Estate at the John Molson School of Business (JMSB) at Concordia University in Canada. Before joining JMSB, he hase worked at Ozyegin University as an assistant professor for 5 years. He received his PhD degree in Finance and Real Estate at Maastricht University in 2013. Erkan visited the Center for Real Estate, the Massachusetts Institute of Technology (MIT), as a visiting PhD student in 2012.  He also holds a second PhD degree in Economics from Middle East Technical University.