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· 분류 : 외국도서 > 경제경영 > 전망
· ISBN : 9781041076391
· 쪽수 : 440쪽
· 출판일 : 2026-01-22
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Commercial Real Estate Analysis for Investment, Finance and Development, a fully revised fourth edition of the authors’ leading textbook, presents the foundations of real estate investment analysis with the rigor of general finance and economics. This book introduces the essential building blocks of the field: market assumptions, valuation, financial analysis, and development. Drawing from extensive academic and industry experience, the authors approach the investment analysis process using a combination of theory and practical tools in a discussion tailored to advanced students.
Topics include value concepts, mortgage analysis, financing alternatives, option value, leverage and risk analysis, as well as institutional and capital market trends. Additionally, the new edition addresses climate risks, alternative property types, and the impact of technology on real estate as an asset class. New supplemental online resources complement the book’s conceptual and quantitative study questions, chapter summaries, and other useful pedagogical features.
Combining a practical grounding in economics and finance with updated tools and resources, this edition of Commercial Real Estate Analysis for Investment, Finance and Development provides a new generation of professionals the foundation and tools they need to excel as investment managers, advisers, and analysts. Ideal for graduate studies in real estate, finance, and business, this textbook prepares students for the real-world complexities and challenges of commercial real estate.
For access to additional, online chapters and other Instructor and Student Resources, please visit: www.routledge.com/cw/geltner-miller
Commercial Real Estate Analysis for Investment, Finance and Development,?a fully revised fourth edition of the authors’ leading textbook, presents the foundations of real estate investment analysis with the rigor of general finance and economics.?
목차
Preface
Organization of Book
About the Authors
PART I. Real Estate Investment Foundation, Time Value of Money and NPV Decision Rule
1???????????? Introduction
2???????????? Time Value of Money / The DCF Basics
3???????????? Measuring Investment Performance
4???????????? Discounted Cash Flows for Real Estate
PART II. Nuts and Bolts of Real Estate Investment Analysis
5???????????? Income Definitions for Commercial Real Estate
6???????????? Determinants of Rent I: Market Level
7???????????? Determinants of Rent II: Property Level
8???????????? Trend Extrapolation & Predictions
9???????????? Real Estate Market Analysis
10?????????? Leases and Lease Strategies
11?????????? Finding the Correct Discount Rate and Exit Yield
12?????????? Use of Debt in Real Estate Investment: The Effect of Leverage
PART III. Completing the Basic Investment Analysis
13?????????? After-Tax Investment Analysis and Corporate Real Estate
14?????????? Real Estate Investment Capital Structure
15?????????? Advanced Topics: Investment Value and Market Inefficiencies
PART IV. Real Estate Development
16?????????? Real Options and Land Value
17?????????? The Development Process and the Simple Feasibility Analysis
18?????????? A Discounted Cashflow Model for Developments
Part V. Mortgages from an Investment Perspective
19?????????? Mortgage Basics I: An Introduction and Overview
20?????????? Mortgage Basics II: Payments, Yields and Values
21?????????? Commercial Mortgage Analysis and Underwriting
Part VI. Macro-Level Real Estate Investment Analysis
22?????????? Real Estate and Portfolio Theory: Strategic Investment Considerations
23?????????? Equilibrium Asset Valuation and Real Estate’s Risk of in the Capital Market
24?????????? Data Challenges in Measuring Real Estate Periodic Returns
25?????????? Real Estate Investment Management and Derivatives
Part VII. Other Selected Topics
26?????????? Real Estate Investment Trusts (REITS)
27?????????? International Real Estate Investment: Markets, Strategies, and Implementation
28?????????? Sustainable Real Estate & Climate Risk
29?????????? Technology and Real Estate: A Synthesis
30?????????? Alternative Property Types















