The book first provides an introduction to real estate economics and urban economics, with focus on the operation of real estate space and asset markets, the central place and economic base theories, the basic economic principles of urban land value and use and general features of real estate market analysis.

The book then moves to its core theme covering extensively basic and advanced topics in commercial property analysis and valuation, including present value mathematics, real estate investment performance measurement, the use of the discounted cash flow model in evaluating commercial real estate investment opportunities, estimation of investment value, the analytics of the use of debt and leverage in commercial real estate investments, tax considerations and mortgage basics. The book discusses also extensively real estate portfolio structuring, strategy and management issues, including pricing of real estate risk in the capital market and performance attribution and evaluation. In addition the book expands on the issues of real options and land value and elaborates on special aspects of real estate development project financial analysis. Finally it elaborates on lease analysis and leasing strategy.

In our opinion, the invaluable strength of the book lies not only in the elaborate and comprehensive discussion and presentation of all the analytical tools, models, methodologies and formulas required for accurate analysis and evaluation of commercial real estate both from the asset and portfolio perspective, but also the discussion of all technical and measurement issues that arise in relation to the use of these analytical tools.

Return from Commercial Real Estate Analysis and Investment to Book Reviews