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Global Real Estate Capital Markets : Theory and Practice, Hardback Book

Global Real Estate Capital Markets : Theory and Practice Hardback

Hardback

Description

This book unravels the complex mechanisms involved in global real estate capital markets, enabling the reader to understand how they have grown and evolved, how they function, what determines market pricing, and how the public and private debt and equity markets are linked to each other. Using their extensive professional experience, the authors combine a structured, rigorous understanding of the theory and academic evidence behind the main concepts with practical examples, applications, case studies, quizzes and online resources.

The book will enable readers to understand for example: · Why share prices of real estate companies can differ dramatically from the underlying value of the assets· The differing investment objectives of different categories of investor and how this influences share prices and corporate funding decisions· How sell-side analysts make their recommendations· How buy-side analysts decide which sectors, funds, and stocks to allocate capital to· And how ESG considerations are relevant to capital market pricing. The book is designed not just for advanced real estate students, but also for global finance courses, Executive Education short courses and as a primer for new entrants to the sector.

It is key reading for the following groups: · Property professionals working for a listed company wanting to understand the relationship between their underlying business and the stock market valuation · Real Estate Private Equity teams looking to understand the valuation disconnect between public and private markets and arbitrage the Parallel Asset Pricing model · Equity/Multi asset/Property analysts/fund managers who need to understand the specific characteristics of real estate vs the other ten equity sectors and understand when to increase and decrease sector weightings. Online materials for this book can be found on the Routledge Resource website at https://resourcecentre.routledge.com/books/9781032288017.

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