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Underwriting Commercial Real Estate in a Dynamic Market: Case Studies

Autor Christian Redfearn
en Limba Engleză Paperback – 13 mai 2019
A recurrent theme in Underwriting Commercial Real Estate in a Dynamic Market is that good thinking and good underwriting go together. This stands in contrast with "getting an answer" or even worse "reverse engineering" – getting to a solution by assuming that current trends in market pricing is best. The cases in Underwriting Commercial Real Estate in a Dynamic Market will force readers to recognize that there is no single answer, but rather a range of answers that will depend on numerous perspectives. And, in order to make valuation decisions, they will have to undertake a rich conversation about what constitutes a good trade-off and what does not. Cases can be structured for use with introductory material as well as advanced topics.


  • Encourages readers to think about alternatives and their viability
  • Addresses real world variations and concentrates on large urban economic forces and their implications for real estate valuation
  • Presents case studies that vary significantly in length and specificity
  • Includes pedagogical materials such as case introductions and exhibits
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Specificații

ISBN-13: 9780128159897
ISBN-10: 0128159898
Pagini: 262
Dimensiuni: 152 x 229 x 17 mm
Greutate: 0.36 kg
Editura: ELSEVIER SCIENCE

Public țintă

Upper-division undergraduates, MA, and Ph.D. students who need an introduction to real estate industry practices. The material is also relevant for practitioners who need its mathematics.

Cuprins

Section A: Building a frameworkCase 1 Vista View and a Second Shot at OwnershipCase 2 Altitude and Perspective: Let the Fund Guide Investment?Case 3 Apples and Oranges: The Strengths and Weaknesses of Being a GeneralistCase 4 Motor City Madness? The Search for Yield Takes Isaac to DetroitCase 5 Forensic Underwriting or: What’s the Opposite of Big Data?
Section B: Extending the frameworkCase 6 Bayview Double TakeCase 7 Excuse Me, Where’s the Exit from Marina Bay?Case 8 Atwood Corporate CenterCase 9 Lombard StreetCase 10 An Uncommon Option for Cloverfield Commons
Section C: Narrowing the questionsCase 11 Making Sense of EastgateCase 12 How to Exit Fund IVCase 13 A Changing Retail Landscape and a Lease to MatchCase 14 Finding a Safe Way to Park: Investing in NNN Lease PropertiesCase 15 Let’s Do This Again
Section D: Development and redevelopmentCase 16 Huntington FlatsCase 17 Leaning into Headwinds: Grocery-Anchored Retail in the Era of AmazonCase 18 Anyone for Extra Innings? Let’s Play Two? Late-Cycle Underwriting for Irwindale Reliance and the Olympic PlantCase 19 The Minnifield ParcelCase 20 Do Cycles Die of Old Age? Or Is 10 the New 6?

Recenzii

“In this book Professor Redfearn has compiled a great teaching aid and complement to real estate finance and investments textbooks. The cases in this book are rich and vivid examples that take students into the nuts and bolts of the real world of real estate investing replete with the heterogeneity and complexity of the intersection of buildings, locations, cities, stakeholders, decision makers, and decisions. They provide a great framework for the Socratic teaching of fundamental principles and tools in a manner that stimulates students to think creatively, rigorously, and independently. I heartily endorse it.” — David M. Geltner, MIT
"Real estate instructor can to find textbooks and other instructional materials to use in the teaching of basic concepts and ideas. However, the institutional detail and context surrounding real estate decisions are absolutely critical to the real estate decision making process. This compilation of case studies will prove to be a vital resource to any instructor who wishes to expose their students to the rich and complicated world of real estate valuation, investment, and decision making. I have already incorporated several into my course outlines." — David Ling,University of Florida
"This text contains the most useful collection of real estate analysis cases I have seen and it seems perfect for our capstone real estate analytics course. The cases are interesting and relevant and they dig into real world issues at a very high level. Students who can master these issues will no doubt be well-positioned for long-term career success in the real estate industry." — Tim Allen, Florida Gulf Coast University
"Professor Redfearn has successfully developed a rich compendium of case studies designed to help students build the reasoning skills they’ll need to be effective professionals in an ever changing real estate market. The volume will also be a wonderful resource for more seasoned practitioners wishing to brush up their expertise." — Pablo Mendez, Carleton University
“Real estate itself isn’t all that complicated. The relationships and deal structuring can be. Successful real estate professionals are those who can see through apparent complexity and recognize the underlying basics at work. I know several of the deals in this book, and the principals who made the right choices were those who could think well about their fundamentals and develop the conviction to act. This book will help students and professionals do both.” — Wilbur Smith, President/Founder, Greenlaw Partners