John McMahan

The Handbook of Commercial Real Estate Investing

State of the Art Standards for Investment Transactions, Asset Management, and Financial Reporting

• Gebundenes Buch

Produktbeschreibung

A Codifying "Best Practices" Guide to Effectively Managing the Entire Real Estate Investment Process

The Handbook of Commercial Real Estate Investing delivers an authoritative "best practices" approach to the three major areas of the industry: investment transactions, asset management, and enterprise management. Skillfully written by John McMahan, a leader of the U.S. commercial real estate investment industry, The Handbook of Commercial Real Estate Investing presents state-of-the-art methods needed to successfully invest in and manage commercial properties such as office buildings, shopping centers, industrial buildings, apartments, and hotels.

Designed to codify the industry "best practices" encouraged by financial institutions, The Handbook of Commercial Real Estate Investing offers:

Complete guidelines for the critical "due diligence" stage of the investment process
Effective asset management techniques for leasing, property management, and tenant relations
Detailed procedures for reporting to investors on the financial performance of the real estate portfolio
Information on using technology in the "due diligence" process
A wealth of sample forms and checklists used in real estate investment
A valuable glossary of real estate investment terms
Authoritative and easy to use, The Handbook of Commercial Real Estate Investing will serve as a valuable strategic guide to managing the overall real estate investment process, as well as a "best practices" tool for improving each operating area.

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Produktdetails

• Verlag: McGraw-Hill Professional
• Seitenzahl: 400
• Erscheinungstermin: 6. Juni 2006
• Englisch
• Abmessung: 237mm x 158mm x 31mm
• Gewicht: 726g
• ISBN-13: 9780071468657
• ISBN-10: 007146865X
• Artikelnr.: 20845857

Autorenporträt

McGraw-Hill authors represent the leading experts in their fields and are dedicated to improving the lives, careers, and interests of readers worldwide

Inhaltsangabe

PART I: REAL ESTATE INVESTMENT PROCESSChapter 1: How Value Is Created in Real Estate
Value cycle of real estate
How investors participate in the value creation process
Role of synergy in creating value
Role of location in enhancing value
Land use regulation
Submarket location factors
Property factors
Market timing
Asset managementChapter 2: Market Demand Drivers
Economics
Technology
Demographics
Business organizations
Physical workplace
Workplace locationChapter 3: Property Type Characteristics
Apartments
Retail
Office
Industrial
HotelsChapter 4: Major Players
Life insurance companies
Foreign investors
Real Estate Investment Trusts (REITs)
Pension fundsChapter 5: Understanding Investor Objectives
Pension funds
Individual investors
Foreign investors
Differing investor objectives
Reconciling investment focus with portfolio diversificationPART II: TRANSACTION MANAGEMENTChapter 6: Sourcing, Screening, and Preliminary Underwriting
Property sourcing
Property screening
Preliminary underwritingChapter 7: Preliminary Approvals and Negotiation
Preliminary approvals
NegotiationsChapter 8: Due Diligence
Role of due diligence
Managing the process
Physical due diligence
Legal due diligence
Business due diligenceChapter 9: Final Underwriting and Closing
Final underwriting
Final approvals
Closing documents
Title holding entity
Waive and closing
Transition to asset managementChapter 10: Disposition
Targeting buyers
Broker selection
Listing agreement
Confidentiality agreement
Offering memorandum
Property reports
Disposition alternatives
Transaction documents
Due diligence
Transition to buyer's asset management staffPART III: ASSET MANAGEMENTChapter 11: Role of Asset Manager
The modern asset manager
Asset versus property management
Asset Manager's responsibilitiesChapter 12: Role in Investment Transactions
Acquisitions
Transition to asset management
DispositionsChapter 13: Tenant Relations
Know the tenant's business
Understanding the tenant's financial condition
Tenant's view of the building and management
Renewing leases
New leasesChapter 14: Building Operations
Maintenance
Construction management
Security
Disaster planningChapter 15: Financial Reporting
Financial statements
Federal tax reporting
Comparative analysisPART IV: ENTERPRISE MANAGEMENTChapter 16: Leadership
Why has it been so difficult?
How real estate is changing
What is leadership?
Qualities of a good leader
How leadership skills can be improved
Establishing a nurturing work environment
Allow broader participation in decision makingChapter 17: Strategic Planning
Strategic planning process
Evaluating alternatives
Formulating the final plan
Implementation
SummaryChapter 18: Market Positioning
Identifying the target market
Refining the target market
Competitive environment
Battlefield mapping
Proposed fund features
A learning processChapter 19: Risk Management
Managing risk in a mixed asset portfolio
Managing real estate portfolio risks
Managing real estate enterprise risksChapter 20: Governance
Collapse of Enron
Legislative and regulatory reform
Reaction to governance reforms: public firms
Public real estate companies and corporate governance
Board of directors governance guidelines
Continuing corporate governance
Current situationAppendix A: Technology and the Due Diligence ProcessAppendix B: Legal DocumentsGlossary

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PART I: REAL ESTATE INVESTMENT PROCESSChapter 1: How Value Is Created in Real Estate- Value cycle of real estate- How investors participate in the value creation process- Role of synergy in creating value- Role of location in enhancing value- Land use regulation- Submarket location factors- Property factors- Market timing- Asset managementChapter 2: Market Demand Drivers- Economics- Technology- Demographics- Business organizations- Physical workplace- Workplace locationChapter 3: Property Type Characteristics- Apartments- Retail- Office- Industrial- HotelsChapter 4: Major Players- Life insurance companies- Foreign investors- Real Estate Investment Trusts (REITs)- Pension fundsChapter 5: Understanding Investor Objectives- Pension funds- Individual investors- Foreign investors- Differing investor objectives- Reconciling investment focus with portfolio diversificationPART II: TRANSACTION MANAGEMENTChapter 6: Sourcing, Screening, and Preliminary Underwriting- Property sourcing- Property screening- Preliminary underwritingChapter 7: Preliminary Approvals and Negotiation- Preliminary approvals- NegotiationsChapter 8: Due Diligence- Role of due diligence- Managing the process- Physical due diligence- Legal due diligence- Business due diligenceChapter 9: Final Underwriting and Closing- Final underwriting- Final approvals- Closing documents- Title holding entity- Waive and closing- Transition to asset managementChapter 10: Disposition- Targeting buyers- Broker selection- Listing agreement- Confidentiality agreement- Offering memorandum- Property reports- Disposition alternatives- Transaction documents- Due diligence- Transition to buyer's asset management staffPART III: ASSET MANAGEMENTChapter 11: Role of Asset Manager- The modern asset manager- Asset versus property management- Asset Manager's responsibilitiesChapter 12: Role in Investment Transactions- Acquisitions- Transition to asset management- DispositionsChapter 13: Tenant Relations- Know the tenant's business- Understanding the tenant's financial condition- Tenant's view of the building and management- Renewing leases- New leasesChapter 14: Building Operations- Maintenance- Construction management- Security- Disaster planningChapter 15: Financial Reporting- Financial statements- Federal tax reporting- Comparative analysisPART IV: ENTERPRISE MANAGEMENTChapter 16: Leadership- Why has it been so difficult?- How real estate is changing- What is leadership?- Qualities of a good leader- How leadership skills can be improved- Establishing a nurturing work environment- Allow broader participation in decision makingChapter 17: Strategic Planning- Strategic planning process- Evaluating alternatives- Formulating the final plan- Implementation- SummaryChapter 18: Market Positioning- Identifying the target market- Refining the target market- Competitive environment- Battlefield mapping- Proposed fund features- A learning processChapter 19: Risk Management- Managing risk in a mixed asset portfolio- Managing real estate portfolio risks- Managing real estate enterprise risksChapter 20: Governance- Collapse of Enron- Legislative and regulatory reform- Reaction to governance reforms: public firms- Public real estate companies and corporate governance- Board of directors governance guidelines- Continuing corporate governance- Current situationAppendix A: Technology and the Due Diligence ProcessAppendix B: Legal DocumentsGlossary