Download An Introduction to Real Estate Finance by Edward Glickman PDF

By Edward Glickman

An creation to actual property Finance serves because the middle of information for a single-semester first path in actual property finance. not like different actual property finance textbooks with their encyclopedic yet quite often stale info, this booklet combines a quick conventional textual content with a residing web site. The ebook supplies scholars and professors hugely utilized details, and its usually up-to-date on-line beneficial properties make it specifically invaluable for this practitioner-oriented audience.

Covering primary subject matters comparable to accounting and tax, mortgages, capital markets, REITs and extra, the e-book additionally addresses the 2008 monetary predicament and its effect at the actual property career. This quantity is a important significant other for college students of genuine property finance in addition to monetary analysts, portfolio managers, traders and different execs within the field.

  • Offers a concise, effective, ''finance-centric'' substitute to conventional genuine property finance texts
  • Website offers readers the instruments to discover present information regarding their very own components of specialization-a new angle no longer present in different actual property finance textbooks
  • Gives scholars and professors the fabric to check each topic in vast and hugely precise terms

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Extra resources for An Introduction to Real Estate Finance

Sample text

As the occupancy rate increases (that is, the vacancy rate falls), rents rise. Ultimately, the increase in occupancy and rent levels encourages landlords to create new space. The price a landlord can pay for new space is a function of market rent levels and the landlord’s cost of capital. When landlords demand space at a price that is greater than the cost of construction, developers can build new projects. Occupancy and rent levels also set the value of property. As these levels rise, the landlord’s earning potential increases and the landlord is willing to pay more for a building.

Investors in a corporation have no personal liability for its actions or its liabilities. The legal liability for the corporation’s actions rests with management and the board of directors. Shares in a corporation are nonassessable, meaning that the corporation’s financial liabilities are backed solely by its assets. If a corporation needs additional funds for its operations or its growth plans, it can reinvest its profits, borrow money, or raise that capital from investors. If it raises additional capital in the form of equity, existing shareholder’s interests in a corporation may be “diluted” by the shares issued to the new investors.

4 Appraisers Investors and capital providers use appraisers to provide an objective estimate of the value of assets. Banks and investors rely on appraisals when making credit and investment decisions. 5 Insurance Brokers Property ownership and management subjects the participants to a number of risks. Insurance brokers work with real estate owners to source and implement risk management solutions, including the purchase of insurance products, to protect the property owner against economic losses from these risks.

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