Book Description
The well-known and respected authorship team of Geltner and Miller bring you a new edition of what has become the undisputed and authoritative resource on commercial real estate investment. Streamlined and completely updated with expanded coverage of corporate and international real estate investment, this upper-level text presents the essential concepts, principles and tools for the analysis of commercial real estate (income producing) from an investment perspective. This new book continues to integrate relevant aspects of urban and financial economics to provide users with a fundamental analytical understanding and application of real estate investments - now using ARGUS software. Contributing author Piet Eichholtz from the University of Maasstricht contributes an entire chapter that explores international real estate investments, both opportunistically and structurally, by outlining elements for developing and implementing real estate investments successfully abroad. Jim Clayton from the University of Cincinnati thoroughly revised and updated the finance coverage and real-life applications throughout. Geltner and Miller enhance their pedagogy by adding in a discussion of the real options application to real estate development and streamlining the discussion of data returns.
Customer Reviews:
Solid Book .......2007-08-29
This book is really serious. It gives you data sets, a massive amount of study questions with solutions and sample programs (Argus & Crystal Ball--which is used for probability). This book is like the bible. It goes from simple real estate i.e buy low & sell high all the way to mortgage backed securities, options and derivatives. After reading the book you will know more than most executives.
It may not be for those that are more into urban planning or construction management, but if you need and want a book that blends real estate with the capital markets this is the one.I highly recommend it.
Commercial Real Estate Analysis and Investments (with CD-ROM).......2007-05-29
Just everything okay, considering it had to be shipped from the US to the UK, arrived even earlier than some of the books I ordered same time from UK suppliers.
Small unsubstantial damage on cover of book though, probably caused by transport.
You better KNOW you care about commercial real estate.......2007-03-23
Commercial real estate is not for the faint of heart. I have been in residential real estate for a while and have on several occasions dealt with commercial real estate folks and issues surrounding it.
On the plus side, if you are looking for an exhaustive source of information on evaluating commercial real estate, you have arrived. This volume is going to give you all the information you need to analyze any situation to death. Perhaps to the point that small bits of brain dribble out your ear.
If your a dabbler... or someone who has thought, "Gee... I wonder if commercial real estate would be interesting to get into?" then this is NOT the place for you to start that journey of self discovery.
There are much smaller, shorter, lighter more digestible books out there on the subject that will give you a feel for what you might be getting into.
So, if you are someone already knee deep in commercial real estate, or someone deadly serious about being able to really analyze commercial properties, then this one is for you.
Review by Steve Vornea.......2006-12-11
This primer is ideal for the mid-level investor, or more sophisticated individual investor, lender, portfolio manager, or asset manager. Integrates the frontier financial economics into real estate and capital markets. It is an objective and in-depth book with a great deal of content.
Steven Harry Vornea
Astonishingly good book.......2006-06-14
This is an astonishingly good book, which integrates the best real estate research over the past decade into a practical textbook. It is pitched at masters level and is not recommended for people starting out their study of real estate.
Customer Reviews:
Very Hard to understand.......2007-01-08
This book is terrible. It is very hard to understand. Not recommended.
great item .......2005-10-17
what was advertised was exactly what i received. book was in good condition and it was the one i wanted.
thanks alot and would reorder again!!!!!!!1
Book Description
When partnerships change hands, the valuation of intangible assets can be a financial maze. This in-depth book, working through each of the basic valuation approaches: cost, market, and income, provides professionals with complete guidelines and industry standards. It's a must-have for financial analysts and attorneys!
Download Description
The one-volume intangible valuation library--from trusted authorities Robert Reilly and Robert Schweihs.
Customer Reviews:
A practical primer.......2003-04-10
For those who are interested in the management of organizational knowledge and intangible assets, 'Valuing intangible assets'should prove to be highly practical. There are many knowledge management frameworks out there that assist business executive to manage their intangible assets (such as Sveiby's intangible asset monitor), the practical usage of these frameworks would be greatly enhanced by incorporating the valuation aspect of intangible assets. Reilly has provided a comprehensive illustration of both the 'scientific' & 'artistic' aspects of valuating intangible assets. 'Valuing Intangible Assets' is easy to read & loaded with useful examples, it is a rare one in the market.
Recommend Purchase!.......2002-08-13
A larger portion of the value of a company nowadays comes from Intangibles (brands, patents, workforce & related contracts, durable customers etc.). This holds true in several industry sectors. Measurement of intangibles is a fascinating subject, but until this book was published, there was no single body of knowledge available to guide the general reader, or a Valuation professional. You had to work in one of the reputed valuation firms to be exposed to the techniques. This book is by far the best practitioner-oriented Intangibles Valuation book I have come across. It is very comprehensive in terms of the topics it covers, and does a wonderful job of covering almost all intangibles of interest. Each chapter is written by a relevant expert, and this invariably leads to variations in quality and some lack of consistency. However, for the most part, it is very well written, and definitely worth the price it sells for.
Great Reference Book.......2001-12-31
A great book for anyone or performs valuations of intangible assets or wants to learn how. I believe that this book will become to intangible valuation what Pratt's book is to business valuation.
A complete manual of intangible valuation methods.......2000-08-28
The authors rely on their extensive professional experiences in this field to provide a comprehensive description of the three valuation methods for intangible assets--cost, market, and income methods. Easy to read, this book explains the nuances of each method in more detail than similar books available in the market. It reads more like an accessible textbook than a vague primer on the subject. It also contains many insightful and valuable case examples of how the methods are applied to different real life cases. As an MBA student, I have benefitted greatly from this book and will probably use it as a reference in the future.
I hope future editions will include option pricing valuation methods.
Book Description
Fiduciary responsibilities and related court-imposed liabilities have forced investors to assess market conditions beyond gut level, resulting in the development of sophisticated decision-making tools. Roger Brown's use of historical real estate data enables him to develop tools for gauging the impact of circumstances on relative risk. His application of higher level statistical modeling to various aspects of real estate makes this book an essential partner in real estate research. Offering tools to enhance decision-making for consumers and researchers in market economies of any country interested in land use and real estate investment, his book will improve real estate market efficiency. With property the world's biggest asset class, timely data on housing prices just got easier to find and use.
*Excellent mixture of theory and application
*Data and database analysis techniques are the first of their kind
*CDROM contains pre-written code for data analysis tailored specifically to real estate settings
Download Description
One long-time problem for investors in residential real estate has been calculating risk. While commercial real estate investors have had access to broad and deep sets of transaction data, those interested in residential buildings have not. The recent availability of private real estate investment data has made possible new empirical risk analysis tools and conclusions. This is the first book to offer a highly mathematical approach to calculating the risks associated with real estate transactions. By means of data sets and intuitive models, Roger Brown shows readers how to frame real estate problems from mathematical and financial perspectives, with exciting and useful results. Non-US readers will find the book valuable because its conclusions are relevant and useful in other markets, and its techniques can be applied to existing data.
Customer Reviews:
An Elegant Introduction to Real Estate.......2006-03-01
I work as an analyst at a small real estate development and finance firm, and I am always on the lookout for good texts. As a person with a mathematics background, I hate how most real estate books go to great lengths to avoid "hard math". In the end, many of these so-called "advanced" texts leave out important parts, or end up trying to reduce mathematical relationships to mere words. In so doing, they make what should be simple ideas into an impenetrable mess.
Roger Brown's book nicely sidesteps this problem, and immediately gets into non-trivial ideas that one would be hard-pressed to find in a standard textbook. Typical of this is his Chapter 3, "The Rules of Thumb". Instead of simply defining terms such as "cap rate," and maybe discussing some of the limitations of this tool, Brown brings up the real world: cap rates can easily be distorted, and it is your job as an analyst to determine if the cap rate you are using is an "honest one". Brown shows just how one can systematically do this using a corpus of transaction data, which can be found on sites such as costar.com.
There are numerous other innovative ideas in the book. My feeling is that if you have good access to data, and are smart and diligent, you could make a lot of money using some of these ideas .
Book Description
Real estate investment trusts (REITs) make commercial real estate profits available to everyone! REITs are one of the hottest and most potentially lucrative investment vehicles in the market today. Find out how you can take advantage of these increasingly popular securities in the powerful new book Real Estate Investment Trusts. Professionals Richard T. Garrigan and John F.C. Parsons have gathered over 20 of todayÕs most influential opinion leaders to explain how investors both large and small are beating the S&P 500 with REITs, how these REITs combine superior income and growth with relative safety, behind-the-scenes information on how to assemble and launch a successful REIT, and statistical support for market confidence in the long-term appreciation potential of REITs. Whether you are a real estate investment professional seeking comprehensive information on todayÕs REIT operational requirements; an investment professional needing to better understand REITs; or an individual investor interested in diversifying your own portfolio into real estate, Real Estate Investment Trusts will open your eyes to the incredible opportunities available in todayÕs REIT market. Order this well-researched, interesting and informative book today.
Customer Reviews:
Dull and disappointing.......2005-06-11
I bought this book because I am an investor in REITS and wanted to get a deeper insight into comparing different REITs to find the best ones to invest in. I wanted to be able to read the balance sheets of several different REITs and decide which is the better investment. This book left me bored and no further forward.
The main problem is that each chapter is written by a different "expert" on a particular topic such as "Asset Allocation" or "Institutional Investing". Firstly these experts may be great money managers but they are dull writers without a jot of personality. The chapter on Tax Treatment of REITs is a lifeless regurgitation of the tax code. Worse, the editors did not steer each contributor strictly enough to avoid repetition and as a result every chapter begins with yet another review of REIT history.
There was no analysis of different REIT business models, such as trading CMOs compared with Residential or Office space. There is no analysis of how to tell good REIT managers from ordinary ones. I was optimistic about the chapter on Asset Allocation to see how REITs fit in with stock and bonds in your portfolio but again I was disapppointed. After grinding through page after page differential equations the chapter fizzled out with no mention of reccomended asset allocation ratios.
I gave the book 2 stars instead of none because the data seems to be accurate and authoritative but then so is the maintenance manual for my vacuum cleaner. A $75 book has a duty to do more than assemble boring facts in sequence.
I don't really know who this book is targeted towards. If you are going to be a junior paper pusher employed by a REIT it may give you a head start but the rest of the planet should look somewhere else.
An excellent overview of the REIT Industry.......1999-07-17
The book provided an insightful overview of the REIT industry. The book was organized by various topics relating to investing and managing a REIT. The chapters were written by practioners and academics working in the different REIT industry areas. The authors were able to provide vital insights into their areas of expertise. As a new REIT employee I learned about the challenges and opportunities that lie ahead for my company and the REIT industry as a whole. some of the chapters were a bit technical in nature; particularly the analysis on historical private verses public REIT returns. Overall the book should be required reading for REIT investors and Managers as well.
Book Description
The art and science of business valuation is currently undergoing a huge transformation and is facing new and important challenges. The Handbook of Business Valuation and Intellectual Property Analysis provides valuation and investment professionals with the latest thinking on economic damages, lost profit analysis, and numerous other key business and intellectual property valuation issues.
Book Description
Valuation for Financial Reporting: Intangible Assets, Goodwill, and Impairment Analysis provides guidance and insight in the identification and measurement of intangible assets and goodwill pursuant to the Financial Accounting Standards Board Statements of Financial Accounting Standards (SFAS) No. 141, Business Combinations and (SFAS) No. 142 Goodwill and Other Intangible Assets.
The new rules are sweeping and complex. Valuation for Financial Reporting will bring clarity to CFOs, auditors, valuation professionals, and CPAs by explaining the valuation aspects of the new financial reporting requirements, including how to identify the characteristics of goodwill and intangible assets, determine if impairment has occurred, and employ specific methods to assess the financial impact of such impairment.
While numerous articles and commentaries on the subject have appeared dating back to the time the FASB began considering the issue, Valuation for Financial Reporting is the first to provide "real world" examples of the valuation techniques and methodologies required to perform a purchase price allocation under SFAS No. 141 and an impairment study under SFAS No. 142. Valuation for Financial Reporting will help lift the veil of mystery surrounding these two important pronouncements and provide a practical guide for their implementation.
This book:
- Shows the CPA and client how to apply the new SFAS 141 rules that pertain to all companies involved in an acquisition (buyer or seller) by analyzing and valuing the tangible and intangible assets acquired.
- Teaches the CPA and client how to apply the new SFAS 142 rules that pertain to all companies that recognize and measure intangible assets and goodwill which may now be impaired
- Presents detailed case studies and examples on how to apply and implement SFAS 141 and SFAS 142
- Provides a "How To" on the identification and measurement of intangible assets.
- Includes a checklist for controlling the gathering of data necessary for the analyses and another checklist guiding the work program for methodologies
- Offers guidance and examples for financial reporting purposes.
Customer Reviews:
A must read on SFAS 141 and 142.......2002-06-14
If you need to comply with SFAS 141 and 142, you will want to read this book. The authors understand these standards inside and out. The book's coverage is practical, thorough and written in easy to understand language (which is important because the changes outlined in SFAS 141 and 142 are far reaching and complex.) The best part of this book is that in addition to providing compliance guidance for SFAS 141 & 142, it also shows you how to apply the standards. This is key! I also found the book helpful on showing me how to identify and value intagible assests which is still a somewhatnew area for me.
Great coverage of new SFAS 141 and 142.......2002-06-11
This is timely and excellent coverage of SFAS 141 and 142. The authors' explanation are clear and complete. I would recommend this book to everyone involved in valuation.
Book Description
This study offers a unified theoretical structure to analyze exchange, formation of economic rights, and organization. The cost of measuring accurately all assets' attributes is prohibitive. Therefore, rights are never fully delineated and others (using theft, adverse selection, free riding, and shirking) may appropriate one's assets. The central question is how people allocate resources and organize their activities to maximize the value of their rights. The approach emphasizes nonmarket constraints, but is also applicable to market economies. It is useful for analyzing allocations within organizations as well as allocation by voting and charity. Chapters have been extended for this second edition and a new chapter devoted to the firm has been added.
Customer Reviews:
The basic question is "Who owns what?".......2006-07-24
This book deals with the economic sense of property rights, in other words, "who owns what?". Property rights are not defined uniformly across cultures since societies have discretion as to how to define those rights. In fact, they are very often not perfectly delineated. People can delineate those rights under the shadow of the law or ask a court to settle their case. The common view that commodities are homogenous entities with only one attribute gives rise to the conclusion that the right is either owned by someone or not owned. In real life, assets incorporate several attributes, whose ownership is not always perfectly delineated. Under certain circumstances it is too costly to measure and protect all assets' attributes. When circumstances change, conflicts can arise. Neoclassical literature instead assumes simplistically that transaction costs are zero and that all property rights are perfectly well delineated. Once you can take into consideration intermediate cases (common and private goods, environment, contractual rights etc) as Barzel does in this book, you can have a more complete model to price goods, which come logically from well-defined first principles. A must read for public economists and (why not?) lawyers.
Superb treatise on property rights........2000-06-22
This book is written from the neoclassical perspective and takes a sensible and thoughtful approach to property rights. This book provides the reader insight into how property rights define how society organizes itself. Building on Public Choice Theory, Barzel explores how property rights are delineated in many situations, addressing head on the Tragedy of the Commons.
For any study of law and economics this is a must read. But the reader must be cautioned that this is not an Economics 101 book. A solid grounding in the writings of Buchanan, Tullock, Arrow, Ostrum, Coase, and Olson are what is required to make this a comprehensible read.
The Meaning of Property Right Economics.......2000-03-24
This book, unlike many other books on new institutional economics, constructed some scientific theories on property right economics. It should be a suitable basis of learning scientific new insitutional economics. Once you have read this book, you will know the correct meaning of economics of property rights.
Book Description
Proven set of best practices for security risk assessment and management, explained in plain English
This guidebook sets forth a systematic, proven set of best practices for security risk assessment and management of buildings and their supporting infrastructures. These practices are all designed to optimize the security of workplace environments for occupants and to protect the interests of owners and other stakeholders. The methods set forth by the authors stem from their research at Sandia National Laboratories and their practical experience working with both government and private facilities.
Following the authors' step-by-step methodology for performing a complete risk assessment, you learn to:
- Identify regional and site-specific threats that are likely and credible
- Evaluate the consequences of these threats, including loss of life and property, economic impact, as well as damage to symbolic value and public confidence
- Assess the effectiveness of physical and cyber security systems and determine site-specific vulnerabilities in the security system
The authors further provide you with the analytical tools needed to determine whether to accept a calculated estimate of risk or to reduce the estimated risk to a level that meets your particular security needs. You then learn to implement a risk-reduction program through proven methods to upgrade security to protect against a malicious act and/or mitigate the consequences of the act.
This comprehensive risk assessment and management approach has been used by various organizations, including the U.S. Bureau of Reclamation, the U.S. Army Corps of Engineers, the Bonneville Power Administration, and numerous private corporations, to assess and manage security risk at their national infrastructure facilities. With its plain-English presentation coupled with step-by-step procedures, flowcharts, worksheets, and checklists, you can easily implement the same proven approach and methods for your organization or clients. Additional forms and resources are available online at www.wiley.com/go/securityrisk.
Books:
- Commercial Real Estate Investing 12 Easy Steps to Getting Started
- Conservation Design for Subdivisions: A Practical Guide To Creating Open Space Networks
- Construction Funding: The Process of Real Estate Development, Appraisal, and Finance
- Death Comes for the Fat Man (Dalziel and Pascoe Mysteries)
- Dog Owner's Home Veterinary Handbook (Howell Reference Books)
- Down the Garden Path
- Entrepreneur's Notebook: Practical Advice for Starting a New Business Venture
- Essentials of Corporate Finance (Mcgraw-Hill/Irwin Series in Finance, Insurance, and Real Estate)
- Every Landlord's Tax Deduction Guide
- FLIP: How to Find, Fix, and Sell Houses for Profit
Books Index
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General
| Popular Economics
| Business & Investing
| Subjects
| Books
Real Estate Market Analysis: A Case Study Approach
Real Estate Finance & Investments (Real Estate Finance and Investments)
The Real Estate Game: The Intelligent Guide To Decisionmaking And Investment
Construction Funding: The Process of Real Estate Development, Appraisal, and Finance
Real Estate Finance and Investments
