Real Estate Investment: A Strategic Approach introduces professional and technical approaches to building and managing large real estate portfolios. The new edition has been fully rewritten and reorganised and now includes five new chapters and twenty-five new international case studies.

Autorentext

Andrew Baum is Emeritus Professor at the Saïd Business School, University of Oxford. Until 2021 he was Professor of Practice at the Saïd Business School, University of Oxford and director of the Oxford Future of Real Estate Initiative. From 2009 to 2014 he was Honorary Professor of Real Estate Investment at the University of Cambridge and (from 2011 to 2014) Fellow of St John's College, Cambridge. He is also Emeritus Professor at the University of Reading, where he taught for many years. He is also Chairman of Newcore Capital Management and advisor to several property investment and PropTech businesses.

He has spent the majority of the last 30 years working with institutional real estate investors in developing global property investment strategies and, more recently, in understanding technology-based innovation. His experience is primarily in the UK, but he has also worked in the U.S. and Asia. He holds BSc, MPhil and PhD degrees from the University of Reading, is a graduate of the London Business School investment management programme and is a chartered surveyor and a qualified member of the CFA institute (ASIP).

Hired as the first director of property research for Prudential in 1987, he founded RES (a property research company) in 1990 and (with his partners) sold the business to Henderson Global Investors in 1997. At that time he became CIO for property at Henderson and later Director of International Property.

In 2001 he founded OPC, a property research and investment company that was sold to CBRE in 2006 to form CBRE Investors' global multi-manager team, which became one of the world's leading specialists in indirect property investment. CBRE Investment Management's Indirect Private Real Estate team now has over $40 billion of indirect property assets under management.

Klappentext

Andrew Baum outlines the market and the players who dominate it; the investment process; the vehicles available for investment; and an approach to global portfolio construction, pricing and performance measurement. The book contains many useful features for students including numerous boxed examples drawing on international cases, a glossary, and chapter summaries.

Ideal for undergraduate and postgraduate students on all real estate and property courses and related business studies and finance courses. Real Estate Investment is designed to provide a foundation for the next generation of investment managers, advisers and analysts.

Further resources for lecturers and students are available online at www.andrewbaum.com.

Inhalt

PART ONE: INTRODUCTION TO THE MARKET 1. Introduction: real estate - the asset class 2. The market - and who makes it 3. Market fundamentals and rent PART TWO: THE INVESTMENT PROCESS 4. Pricing real estate and the investment process 5. Portfolio theory and risk 6. Development 7. Asset management 8. Capital structure: equity and debt PART THREE: INVESTMENT VEHICLES 9. Real estate funds 10. Structured real estate investment and options PART FOUR: BUILDING PORTFOLIOS 11. International real estate investment 12. Real estate strategy - theory into practice PART FIVE: MEASURING PERFORMANCE 13. Performance measurement and attribution PART SIX: THE FUTURE 14. The future of real estate investment