Financial Investment Analysis for Commercial Real Estate

Description

Financial and Investment Analysis for Commercial Real Estate provides a complete overview of how and why financial and Investment Analysis is crucial to understanding commercial real estate, providing in-depth discussions the commercial real estate industry, providing an in-depth discussion of “must know” topics including basic financial statements, financial terminology, measuring met operating income, , preparing income and expense estimates , converting income into an estimate of value, for casting and projections, how to use direct capitalization, and yield capitalization, time-value of money concepts, selecting discount rates, estimating a Net Present Value and the Internal Rate of Return, reasons and benefits f financing , leverage, reasons and benefits of financing , positive and negative leverage, the loan-to-value ratio, and the debt coverage ratio, preparing a multi-year income and expense estimate debt and amortizing loans and measuring investment performance as part of the decision making process. Readers will obtain a clear understanding of both commercials real estate and sophisticated investment techniques used by top institutional investors that they can put into practice immediately. The text is designed to be flexible enough for individual use, in a seminar series, for educational credit, and for general investment of licensing information.