This book provides an overview of private real estate markets and investments. The 14 chapters are divided into three sections for conventional and alternative real estate investments and regulatory issues. Conventional investable real assets examined are retail spaces, apartments, offices, and industrial facilities owned by corporate entities. Alternative real estate assets are uniquely and extensively addressed. These include healthcare, both for facilities and the pricing to make it an investable asset; infrastructure contains roads, bridges, and public utilities; and resources are in land, agriculture, oil, and gas. The regulatory section includes appraisal and valuation, brokerage and transaction costs, sustainability, and green buildings. Readers should gain a greater appreciation of what is needed to be successful when investing in private real estate markets. The share of real estate in institutional portfolios has risen above a previous 5% target, as investors avoid the risks of low interest rates. The world's wealth is shifting to emerging markets where real estate is already a dominant asset class and public securities markets are limited. Institutions with long horizons avoid publicly traded markets because they want to capture any premium from illiquidity. Real estate involves local and cultural restrictions on land usage, sustainability and on the regulation of the illiquidity. For information about public real estate, read Public Real Estate Markets and Investments.

About the Author
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.

Reviews
"Private Real Estate Markets and Investments provides an extensive collection of essays covering a range of topics pertinent to both investors seeking portfolio diversification through direct investment in real property as well as corporate managers wishing to maximize shareholder wealth by considering the strategic implications of using scare capital to acquire and hold real property. Thus, the book is well positioned to provide advanced undergraduate and graduate students as well as industry professionals with insights into the importance of direct real estate investment for the economy." -- Brent W. Ambrose, Smeal Professor of Real Estate and Director of the Institute for Real Estate Studies, The Smeal College of Business, The Pennsylvania State University "Baker and Chinloy have assembled an excellent team and dig into a wide range of real estate topics-not just the usual (and important) 'food groups' like housing, office, and retail, but also neglected topics like healthcare real estate and mineral rights. It's a fine resource for both students and professionals; I learned something new and worthwhile from every chapter." -- Stephen Malpezzi, Professor, Graaskamp Center for Real Estate, Wisconsin School of Business



Book Information
ISBN 9780199388752
Author H. Kent Baker
Format Hardback
Page Count 312
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Weight(grams) 590g
Dimensions(mm) 160mm * 239mm * 25mm