Real Estate Investment and Finance

Global real estate markets have changed significantly in the years since the financial crisis of 2008-2009. As real estate asset prices move past pre-crisis levels, and debt and equity capital become more available, many institutions are re-entering global markets. Reflecting current market trends and practices, the latest edition of Real Estate Investment and Finance features extensively revised content throughout, including a new chapter on real estate development, expanded examples and case studies, a re-designed companion website and numerous improvements based on direct feedback from instructors and students. Emphasising practical solutions rather than complex theory, this market-leading textbook offers: Explanations of basic economics and finance theories in the context of global real estate investing Techniques used to evaluate real estate investments at the property level, from simple heuristics to complex and dynamic valuation models Descriptions of modern international investment structures, such as unlisted real estate funds and real estate operating companies Up-to-date coverage of performance measurement, real estate debt markets and building and managing real estate portfolios The fully revised and updated version of the leading textbook on real estate investment, emphasising real estate cycles and the availability and flow of global capital Real Estate Investment remains the most influential textbook on the subject, used in top-tier colleges and universities worldwide. Its unique, practical perspective on international real estate investment focusses on real-world techniques which measure, benchmark, forecast and manage property investments as an asset class. The text examines global property markets and real estate cycles, outlines market fundamentals…