Global Property Investment: Strategies, Structures, Decisions

封面
John Wiley & Sons, 2011年11月2日 - 576 頁
Developments in the sophistication of global real estate markets mean that global real estate investment is now being executed professionally. Thanks to academic enquiry, professional analysis and entrepreneurial activity, backed by the globalisation of all investment activity, there is now an available body of material which forms the basis of this scholarly but practical summary of the new state of this art.

The measurement, benchmarking, forecasting and quantitative management techniques applied to property investments are now compatible with those used in other asset classes, and advances in property research have at last put the ongoing debate about the role of real estate onto a footing of solid evidence.

The truly global scope and authorship of this book is unique, and both authors here are singularly well qualified to summarise the impact and likely future of global innovations in property research and fund management. Between them, they have experienced three real estate crashes, and have observed at first hand the creation of the real estate debt and equity instruments that led to the global crisis of 2008-9.

Global Property Investment: strategies, structure, decisions offers a unique perspective of the international real estate investment industry with:

  • a close focus on solutions to real life investment problems
  • no excessive theoretical padding
  • a target of both students and professionals
  • highly qualified dual-nationality authorship

With many cases, problems and solutions presented throughout the book, and a companion website used for deeper analysis and slides presentations (see below), this is a key text for higher-level real estate students on BSc, MSc, MPhil and MBA courses worldwide as well as for practising property professionals worldwide in fund management, investment and asset management, banking and real estate advisory firms.

 

內容

Real estate the global asset
3
Global property markets and real estate cycles
32
Market fundamentals and rent
94
Asset pricing portfolio theory and real estate
117
PART TWO MAKING INVESTMENT DECISIONS AT
155
Leasing
171
the unleveraged case
203
an introduction
222
Public equity real estate
319
Real estate debt markets
340
Real estate derivatives
378
PART FOUR CREATING A GLOBAL REAL ESTATE STRATEGY
407
Building the global portfolio
440
Performance measurement and attribution
475
Conclusions
520
References
526

Commercial mortgage underwriting and leveraged
248
Valuing the private real estate entity
274
PART THREE REAL ESTATE INVESTMENT STRUCTURES
293
Glossary
533
Index
548
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關於作者 (2011)

Andrew Baum was appointed Professor of Land Management at the University of Reading, UK in 1989. He is now Professor of Real Estate Investment at the University of Cambridge and a Fellow of St John's College, Cambridge. He is former Head of Research, Prudential; CIO Property and Head, International Property, Henderson Global Investors, and has chaired the investment committee for the CBRE Global Investors Multi-Manager business since 2008.

David Hartzell is Steven D. Bell and Leonard W. Wood Distinguished Professor in Real Estate and Professor of Finance at the Kenan-Flagler Business School, University of North Carolina, USA. He is a former vice president at Salomon Brothers Inc. in New York and is now a board member with Highwoods Properties, a REIT.

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