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Introduction | |
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Real Estate Investment Process | |
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How Value Is Created in Real Estate | |
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Value cycle of real estate | |
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How investors participate in the value creation process | |
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Role of synergy in creating value | |
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Role of location in enhancing value | |
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Land use regulation | |
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Submarket location factors | |
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Property factors | |
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Market timing | |
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Asset management | |
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Market Demand Drivers | |
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Economics | |
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Technology | |
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Demographics | |
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Business organization | |
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Physical workplace | |
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Workplace location | |
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Property Type Characteristics | |
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Apartments | |
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Retail | |
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Office | |
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Industrial | |
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Hotels | |
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Major Players | |
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Life insurance companies | |
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Foreign investors | |
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Real Estate Investment Trusts (REITs) | |
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Pension funds | |
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Understanding Investor Objectives | |
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Pension funds | |
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Individual investors | |
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Foreign investors | |
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Differing investor objectives | |
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Reconciling investment focus with portfolio diversification | |
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Transaction Management | |
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Sourcing, Screening, and Preliminary Underwriting | |
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Property sourcing | |
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Property screening | |
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Preliminary underwriting | |
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Preliminary Approvals and Negotiation | |
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Preliminary approvals | |
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Negotiations | |
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Due Diligence | |
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Role of due diligence | |
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Managing the process | |
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Physical due diligence | |
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Legal due diligence | |
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Business due diligence | |
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Final Underwriting and Closing | |
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Final underwriting | |
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Final approvals | |
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Closing documents | |
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Title holding entity | |
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Waive and closing | |
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Transition to asset management | |
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Disposition | |
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Targeting buyers | |
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Broker selection | |
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Listing agreement | |
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Confidentiality agreement | |
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Offering memorandum | |
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Property reports | |
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Disposition alternatives | |
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Transaction documents | |
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Due diligence | |
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Transition to buyer's asset management staff | |
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Asset Management | |
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Role of Asset Manager | |
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The modern asset manager | |
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Asset versus property management | |
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Asset manager's responsibilities | |
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Role in Investment Transactions | |
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Acquisitions | |
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Transition to asset management | |
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Dispositions | |
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Tenant Relations | |
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Know the tenant's business | |
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Understanding the tenant's financial condition | |
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Tenant's view of the building and management | |
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Renewing leases | |
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New Leases | |
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Building Operations | |
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Maintenance | |
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Construction management | |
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Security | |
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Disaster planning | |
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Financial Reporting | |
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Financial statements | |
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Federal tax reporting | |
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Comparative analysis | |
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Enterprise Management | |
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Leadership | |
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Why has it been so difficult? | |
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How real estate is changing | |
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What is leadership? | |
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Qualities of a good leader | |
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How leadership skills can be improved | |
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Establishing a nurturing work environment | |
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Allow broader participation in decision making | |
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Strategic Planning | |
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Strategic planning process | |
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Evaluating alternatives | |
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Formulating the final plan | |
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Implementation | |
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Summary | |
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Market Positioning | |
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Identifying the target market | |
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Refining the target market | |
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Competitive environment | |
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Battlefield mapping | |
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Proposed fund features | |
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A learning process | |
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Risk Management | |
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Managing risk in a mixed asset portfolio | |
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Managing real estate portfolio risks | |
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Managing real estate enterprise risks | |
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Governance | |
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Collapse of Enron | |
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Legislative and regulatory reform | |
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Reaction to governance reforms: public firms | |
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Public real estate companies and corporate governance | |
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Board of directors governance guidelines | |
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Continuing corporate governance | |
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Current situation | |
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Technology and the Due Diligence Process | |
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Legal Documents | |
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Glossary | |
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Index | |