Commercial Real Estate Analysis for Investment, Finance, and Development (American Real Estate Society Book Series)

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, ch