Author
DavidM. Geltner, Massachusetts Institute of Technology
Norman G. Miller, University of Cincinnati
Jim Clayton, University of Cincinnati Pension Real Estate Association
Piet Eichholtz, Maastricht University
Description
Learn to analyze commercial real estate from an investment perspective with COMMERICAL REAL ESTATE ANALYSIS AND INVESTMENTS and its accompanying CD-ROM! Presenting the essential concepts, principles, and tools for the analysis of commercial real estate, this real estate text provides you with the tools you need to understand real estate investments in today’s dynamic economy. Studying is made easy with the CD-ROM that provides expanded coverage as well as spreadsheet examples of methodologies, data used in exhibits, lecture slide notes, and answers to study questions.
Table of Contents
Part I: INTRODUCTION TO REAL ESTATE ECONOMICS.
1. Real Estate Space and Asset Markets.
2. Real Estate System.
Part II: URBAN ECONOMICS AND REAL ESTATE ANALYSIS.
3. Central Place Theory and the System of Cities.
4. Inside the City I: Some Basic Urban Economics.
5. Inside the City II: A Closer Look.
6. Real Estate Market Analysis.
Part III: BASIC FINANCIAL ECONOMIC CONCEPTS AND TOOLS.
7. Real Estate as an Investment: Some Background Information.
8. Present Value Mathematics for Real Estate.
9. Measuring Investment Performance: The Concept of Returns.
Part IV: REAL ESTATE VALUATION AND INVESTMENT ANALYSIS AT THE MICROLEVEL.
10. The Basic Idea: DCF and NPV.
11. Nuts and Bolts for Real Estate Valuation: Cash Flow Proformas.
12. Advanced Microlevel Valuation.
Part V: COMPLETING THE BASIC INVESTMENT ANALYSIS PICTURE.
13. Use of Debt in Real Estate Investment: The Effect of Leverage.
14. After-Tax Investment Analysis & Corporate Real Estate.
15. Real Estate Investment Capital Structure.
Part VI: MORTGAGES FROM AN INVESTMENT PERSPECTIVE.
16. Mortgage Basics I: An Introduction and Overview.
17. Mortgage Basics II: Payments, Yields and Values.
18. Commercial Mortgage Analysis and Underwriting.
19. Commercial Mortgage Economics and Investment.
20. Introduction to Commercial Mortgage-Backed Securities.
Part VII: MACROLEVEL REAL ESTATE INVESTMENT ISSUES.
21. Real Estate Portfolio Theory: Strategic Investment Considerations.
22. Equilibrium Asset Valuation and Real Estate Price of Risk in the Capital Market.
23. Real Estate Investment Trusts (REITs).
24. International Real Estate Investment.
25. Data Challenges in Measuring Real Estate Periodic Returns.
26. Real Estate Investment Management: Performance Attribution and Evaluation.
Part VIII: REAL ESTATE DEVELOPMENT AND OTHER SELECTED TOPICS.
27. Real Options and Land Value.
28. Investment Analysis of Real Estate Development Projects: Overview & Background.
29. Investment Analysis of Real Estate Development Projects: Economic Analysis.
30. Leases and Leasing Strategy.
Appendix: Real Estate Price Indices Based on Regression Analysis.
Index.
