Commercial Real Estate Analysis and Investments

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This book presents the essential concepts, principles, and tools for the analysis of commercial real estate from an investment perspective -- integrating relevant aspects of urban and financial economics.It bridges the gap between mainstream finance and the current cutting edge of professional real estate practice with a look at asset market inefficiency and illiquidity, after-tax analysis for various types of investors, tax-exempt institutions, and private investment. Other chapter topics include periodic returns measurement, risk analysis, asset valuation, investment analysis, leverage, capital structure, portfolio theory, and option valuation theory.