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An introduction to real estate finance

By: Material type: TextTextPublication details: USA Academic Press 2014Description: xxx,444 p. Hard BoundISBN:
  • 978-0123786265
Subject(s): DDC classification:
  • 332.72 GLI
Online resources:
Contents:
Machine generated contents note: ch. 1 The Real Estate Industry -- 1.1. Types of Real Estate -- 1.2. Interests in Real Property -- 1.3. Forms of Property Ownership -- 1.4. Real Estate Functions -- 1.5. Types of Real Estate Companies -- 1.6. Ownership of Real Estate Companies -- 1.7. Other Real Estate Industry Participants -- ch. 2 Market Analysis -- 2.1. Impact of the Economy on the Real Estate Market -- 2.2. Economic Influences on Specific Property Types -- 2.3. Economic and Demographic Analysis -- 2.4. Governmental and Political Factors -- 2.5. Analysis of Local Supply and Demand -- 2.6. Property-Specific Due Diligence -- ch. 3 Accounting and Tax -- 3.1. Accounting Standards -- 3.2. Real Estate Income Statement -- 3.3. Real Estate Balance Sheet -- 3.4. Real Estate Cash Flow Statement -- 3.5. Taxation -- 3.6. Tax as a Transactional Consideration -- ch. 4 Cash Flows and Modeling -- 4.1. Fundamental Principals -- 4.2. Modeling Development and Construction -- 4.3. Cash versus Accrual Modeling -- 4.4. Property-Type-Specific Issues -- 4.5. Building a Spreadsheet -- 4.6. Spreadsheet Analysis -- ch. 5 Property Valuation -- 5.1. Capitalized NOI Method -- 5.2. Discounted Cash Flow (DCF) Method -- 5.3.Comparable Sales -- 5.4. Cost Approach -- 5.5. Value of Asset versus Value of Equity -- 5.6. Impact of In-Place Financing -- 5.7. Appraisal Process -- ch. 6 Capital Markets -- 6.1. Why Invest in Real Estate? -- 6.2. Types of Real Estate Interests -- 6.3. Forms of Real Estate Investments -- 6.4. Types of Real Estate Securities -- 6.5. Real Estate Investors -- 6.6. Capital Market Participants -- 6.7. Market Statistics -- ch. 7 Property Finance: Debt -- 7.1. Types of Real Estate Loans -- 7.2. Determining the Best Type and Source of Financing -- 7.3. Loan Terms -- 7.4. Determining Loan Amount -- 7.5. Property Lifecycle Issues -- ch. 8 Mortgage-Backed Securities -- 8.1. The Development of Mortgage-Backed Securities -- 8.2. Benefits to Lenders and Borrowers from Securitization -- 8.3. Structuring Mortgage-Backed Securities -- 8.4. Cmbs -- 8.5. Rmbs -- ch. 9 Property Finance: Equity -- 9.1. Characteristics -- 9.2. Forms of Equity Investment -- 9.3. Structuring Issues -- 9.4. Investors -- 9.5. Strategic Utilization of Equity by the Entrepreneur -- ch. 10 Capital Structure -- 10.1. The Capital Stack -- 10.2. Use of Debt to Enhance Equity Yields -- 10.3. Impact of Leverage on Risk -- 10.4. Hybrid Financing Forms -- 10.5. Impact of Credit Markets on Property Valuation -- 10.6. Impact of Debt Terms on Optimum Capital Structure -- 10.7. Deconstructing a Debt Quote -- ch. 11 Development Finance -- 11.1. Development Process -- 11.2. Key Participants -- 11.3. Financing Stages -- 11.4. Government Finance -- 11.5. Development Risks -- 11.6. Real Options -- ch. 12 Housing Finance -- 12.1. Housing Finance -- 12.2. The Economic Impact of the U.S. Housing Market -- 12.3. History -- 12.4. Single-Family Home Financing -- 12.5. Multifamily -- 12.6. Housing Development -- 12.7. Impact of Housing Development on Local Infrastructure -- ch. 13 REITs and Real Estate Corporate Finance -- 13.1. What Is a REIT? -- 13.2. REIT Qualification Tests -- 13.3. Benefits to Investors -- 13.4. Capital Requirements -- 13.5. The REIT Operating Partnership -- 13.6. REIT Financial Statements -- 13.7.Common REIT Financial Metrics -- 13.8. Current REIT Market Statistics -- 13.9. The Non-REIT Real Estate Company -- 13.10. Real Estate Company Operations -- 13.11. History -- ch. 14 Corporate Real Estate -- 14.1. Function -- 14.2. Goals -- 14.3. Strategic Real Estate Financing for Corporations -- 14.4. Financing Structures -- 14.5. Alternative Capital Sources for Corporate Real Estate -- ch. 15 International Real Estate -- 15.1. Overview -- 15.2. Rewards -- 15.3. Risks -- 15.4. Investment Structure -- 15.5. Participants.
Summary: An Introduction to Real Estate Finance serves as the core of knowledge for a single-semester first course in real estate finance. Unlike other real estate finance textbooks with their encyclopedic but typically stale details, this book combines a short traditional text with a living website. The book gives students and professors highly applied information, and its regularly updated online features make it especially useful for this practitioner-oriented audience. Covering fundamental topics such as accounting and tax, mortgages, capital markets, REITs and more, the book also addresses the 2008 financial crisis and its impact on the real estate profession. This volume is a valuable companion for students of real estate finance as well as financial analysts, portfolio managers, investors and other professionals in the field. Offers a concise, efficient, "finance-centric" alternative to traditional real estate finance texts. Website gives readers the tools to find current information about their own areas of specialization-a unique approach not found in other real estate finance textbooks. Gives students and professors the material to examine every subject in broad and highly detailed terms
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Recommend By Prof. Surender Bookwell#1540dt.23Feb2018 $74.95 Pd.3738

Machine generated contents note: ch. 1 The Real Estate Industry --
1.1. Types of Real Estate --
1.2. Interests in Real Property --
1.3. Forms of Property Ownership --
1.4. Real Estate Functions --
1.5. Types of Real Estate Companies --
1.6. Ownership of Real Estate Companies --
1.7. Other Real Estate Industry Participants --
ch. 2 Market Analysis --
2.1. Impact of the Economy on the Real Estate Market --
2.2. Economic Influences on Specific Property Types --
2.3. Economic and Demographic Analysis --
2.4. Governmental and Political Factors --
2.5. Analysis of Local Supply and Demand --
2.6. Property-Specific Due Diligence --
ch. 3 Accounting and Tax --
3.1. Accounting Standards --
3.2. Real Estate Income Statement --
3.3. Real Estate Balance Sheet --
3.4. Real Estate Cash Flow Statement --
3.5. Taxation --
3.6. Tax as a Transactional Consideration --
ch. 4 Cash Flows and Modeling --
4.1. Fundamental Principals --
4.2. Modeling Development and Construction --
4.3. Cash versus Accrual Modeling --
4.4. Property-Type-Specific Issues --
4.5. Building a Spreadsheet --
4.6. Spreadsheet Analysis --
ch. 5 Property Valuation --
5.1. Capitalized NOI Method --
5.2. Discounted Cash Flow (DCF) Method --
5.3.Comparable Sales --
5.4. Cost Approach --
5.5. Value of Asset versus Value of Equity --
5.6. Impact of In-Place Financing --
5.7. Appraisal Process --
ch. 6 Capital Markets --
6.1. Why Invest in Real Estate? --
6.2. Types of Real Estate Interests --
6.3. Forms of Real Estate Investments --
6.4. Types of Real Estate Securities --
6.5. Real Estate Investors --
6.6. Capital Market Participants --
6.7. Market Statistics --
ch. 7 Property Finance: Debt --
7.1. Types of Real Estate Loans --
7.2. Determining the Best Type and Source of Financing --
7.3. Loan Terms --
7.4. Determining Loan Amount --
7.5. Property Lifecycle Issues --
ch. 8 Mortgage-Backed Securities --
8.1. The Development of Mortgage-Backed Securities --
8.2. Benefits to Lenders and Borrowers from Securitization --
8.3. Structuring Mortgage-Backed Securities --
8.4. Cmbs --
8.5. Rmbs --
ch. 9 Property Finance: Equity --
9.1. Characteristics --
9.2. Forms of Equity Investment --
9.3. Structuring Issues --
9.4. Investors --
9.5. Strategic Utilization of Equity by the Entrepreneur --
ch. 10 Capital Structure --
10.1. The Capital Stack --
10.2. Use of Debt to Enhance Equity Yields --
10.3. Impact of Leverage on Risk --
10.4. Hybrid Financing Forms --
10.5. Impact of Credit Markets on Property Valuation --
10.6. Impact of Debt Terms on Optimum Capital Structure --
10.7. Deconstructing a Debt Quote --
ch. 11 Development Finance --
11.1. Development Process --
11.2. Key Participants --
11.3. Financing Stages --
11.4. Government Finance --
11.5. Development Risks --
11.6. Real Options --
ch. 12 Housing Finance --
12.1. Housing Finance --
12.2. The Economic Impact of the U.S. Housing Market --
12.3. History --
12.4. Single-Family Home Financing --
12.5. Multifamily --
12.6. Housing Development --
12.7. Impact of Housing Development on Local Infrastructure --
ch. 13 REITs and Real Estate Corporate Finance --
13.1. What Is a REIT? --
13.2. REIT Qualification Tests --
13.3. Benefits to Investors --
13.4. Capital Requirements --
13.5. The REIT Operating Partnership --
13.6. REIT Financial Statements --
13.7.Common REIT Financial Metrics --
13.8. Current REIT Market Statistics --
13.9. The Non-REIT Real Estate Company --
13.10. Real Estate Company Operations --
13.11. History --
ch. 14 Corporate Real Estate --
14.1. Function --
14.2. Goals --
14.3. Strategic Real Estate Financing for Corporations --
14.4. Financing Structures --
14.5. Alternative Capital Sources for Corporate Real Estate --
ch. 15 International Real Estate --
15.1. Overview --
15.2. Rewards --
15.3. Risks --
15.4. Investment Structure --
15.5. Participants.


An Introduction to Real Estate Finance serves as the core of knowledge for a single-semester first course in real estate finance. Unlike other real estate finance textbooks with their encyclopedic but typically stale details, this book combines a short traditional text with a living website. The book gives students and professors highly applied information, and its regularly updated online features make it especially useful for this practitioner-oriented audience. Covering fundamental topics such as accounting and tax, mortgages, capital markets, REITs and more, the book also addresses the 2008 financial crisis and its impact on the real estate profession. This volume is a valuable companion for students of real estate finance as well as financial analysts, portfolio managers, investors and other professionals in the field. Offers a concise, efficient, "finance-centric" alternative to traditional real estate finance texts. Website gives readers the tools to find current information about their own areas of specialization-a unique approach not found in other real estate finance textbooks. Gives students and professors the material to examine every subject in broad and highly detailed terms

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