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OverviewReal estate is typically classified as an alternative to more traditional investments such as stocks and bonds. Real estate investing involves the purchase, ownership, management, rental, or sale of real estate for profit. Real estate investments can be both income producing and non-income producing. Although real estate can produce income like a bond and appreciate like a stock, this tangible asset has several unique characteristics as well as advantages and disadvantages relative to other investment alternatives. Benefits of including real estate in a portfolio include diversification, yield enhancement, risk reduction, tax management, and inflation hedging. Unlike traditional investments, investors in real estate have the ability to influence performance. Real estate has drawbacks in that it requires management, is costly and difficult to buy, sell, and operate, and sometimes has lower liquidity. Additionally, measuring the relative performance of real estate can be challenging. The purpose of this 14-chapter book is to provide an overview and synthesis of public real estate markets and investments in a global context. The book discusses the major types and the latest trends within public real estate markets and presents the results of research studies in a straightforward manner. It has three sections: (1) foundations of public real estate, (2) public debt markets and investments, and (3) public equity markets and investments. The book should be interest to various groups including academics, practitioners, investors, and students. Readers should gain a greater appreciation of what is needed for success when investing in public real estate markets. For more information about private real estate, read Private Real Estate Markets and Investments. Full Product DetailsAuthor: H. Kent Baker (University Professor of Finance and Kogod Research Professor, University Professor of Finance and Kogod Research Professor, Kogod School of Business, American University) , Peter Chinloy (Professor of Finance and Real Estate, Professor of Finance and Real Estate, Kogod School of Business, American University)Publisher: Oxford University Press Inc Imprint: Oxford University Press Inc Dimensions: Width: 16.20cm , Height: 2.30cm , Length: 24.20cm Weight: 0.620kg ISBN: 9780199993277ISBN 10: 0199993270 Pages: 336 Publication Date: 25 September 2014 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of ContentsAcknowledgments About the Editors About the Contributors PART 1 FOUNDATIONS OF PUBLIC REAL ESTATE 1. Public Real Estate Markets and Investments: An Overview H. Kent Baker and Peter Chinloy 2. Diversification Benefits of Real Estate Brad Case 3. International Real Estate Markets K. W. Chau, S. K. Wong, and C. Y. Yiu 4. Strategy: Seeking Alpha Opportunities and Managing Risks in Global Markets Stephen E. Roulac PART 2 PUBLIC DEBT MARKETS AND INVESTMENTS 5. Mortgage Markets: The United States Eric S. Belsky 6. Mortgage Markets: International Kyung-Hwan Kim and Man Cho 7. Development of the Market for Mortgage-Backed Securities Stephen A. Buser and John J. McConnell 8. Prepayment and Default Risk Stephen L. Buschbom, James B. Kau, and Donald C. Keenan 9. Commercial Mortgages and Commercial Mortgage-Backed Securities Xudong An and Kerry D. Vandell 10. The Subprime Mortgage Crisis Anthony B. Sanders PART 3 PUBLIC EQUITY MARKETS AND INVESTMENTS 11. REITs: Structure and Performance Walter I. Boudry and Jarl G. Kallberg 12. REITs: International Dimensions Ehsan Nikbakht, Garrett Smith, and Andrew Spieler 13. REITs: Capital Structure Zhonghua Wu 14. Real Estate Operating Companies Peter Zabierek Answers to Discussion Questions IndexReviewsPublic Real Estate Markets and Investments provides an extensive collection of essays covering a range of topics pertinent to investors seeking portfolio diversification through debt and equity investments in real property. Thus, the book is well positioned to provide advanced undergraduate and graduate students as well as industry professionals with insights into the importance of public real estate investment for the economy. -- Brent W. Ambrose, Smeal Professor of Real Estate and Director of the Institute for Real Estate Studies, The Smeal College of Business, The Pennsylvania State University Author InformationH. Kent Baker is a University Professor of Finance at the Kogod School of Business, American University. He has published 17 books and more than 150 refereed journal articles and is recognized as one of the most prolific finance academics. Professor Baker also has consulting and training experience with more than 100 organizations. Peter Chinloy is a Professor of Finance and Real Estate at the Kogod School of Business, American University. His research interests are in real estate equity and mortgage securitization. He is a member of the editorial boards of the three leading real estate journals and has taught at Cornell, Santa Clara, and the University of Southern California. Tab Content 6Author Website:Countries AvailableAll regions |
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