Public Real Estate Markets and Investments

Hardcover | September 22, 2014

EditorH. Kent Baker, Peter Chinloy

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Real 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-incomeproducing. 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 includediversification, 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 straightforwardmanner. 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 greaterappreciation 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.

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Real 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-incomeproducing. Although real estate can produce inc...

H. 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. Pet...

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Format:HardcoverDimensions:320 pages, 9.25 × 6.12 × 0.98 inPublished:September 22, 2014Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199993270

ISBN - 13:9780199993277

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Table of Contents

AcknowledgmentsAbout the EditorsAbout the ContributorsPART 1 FOUNDATIONS OF PUBLIC REAL ESTATE1. H. Kent Baker and Peter Chinloy: Public Real Estate Markets and Investments: An Overview2. Brad Case: Diversification Benefits of Real Estate3. K. W. Chau, S. K. Wong, and C. Y. Yiu: International Real Estate Markets4. Stephen E. Roulac: Strategy: Seeking Alpha Opportunities and Managing Risks in Global MarketsPART 2 PUBLIC DEBT MARKETS AND INVESTMENTS5. Eric S. Belsky: Mortgage Markets: The United States6. Kyung-Hwan Kim and Man Cho: Mortgage Markets: International7. Stephen A. Buser and John J. McConnell: Development of the Market for Mortgage-Backed Securities8. Stephen L. Buschbom, James B. Kau, and Donald C. Keenan: Prepayment and Default Risk9. Xudong An and Kerry D. Vandell: Commercial Mortgages and Commercial Mortgage-Backed Securities10. Anthony B. Sanders: The Subprime Mortgage CrisisPART 3 PUBLIC EQUITY MARKETS AND INVESTMENTS11. Walter I. Boudry and Jarl G. Kallberg: REITs: Structure and Performance12. Ehsan Nikbakht, Garrett Smith, and Andrew Spieler: REITs: International Dimensions13. Zhonghua Wu: REITs: Capital Structure14. Peter Zabierek: Real Estate Operating CompaniesAnswers to Discussion QuestionsIndex