The Handbook of Commercial Real Estate Investing

By: John McKean

Published:May 20th 2007

Pages: 400

Format: Ebook (PDF)

Description

A Codifying “Best Practices” Guide to Effectively Managing the Entire Real Estate Investment Process

The Handbook of Commercial Real Estate Investing delivers an authoritative “best practices” approach to the three major areas of the industry: investment transactions, asset management, and enterprise management. Skillfully written by John McMahan, a leader of the U.S. commercial real estate investment industry, The Handbook of Commercial Real Estate Investing presents state-of-the-art methods needed to successfully invest in and manage commercial properties such as office buildings, shopping centers, industrial buildings, apartments, and hotels.

Designed to codify the industry “best practices” encouraged by financial institutions, The Handbook of Commercial Real Estate Investing offers:

Complete guidelines for the critical “due diligence” stage of the investment process
Effective asset management techniques for leasing, property management, and tenant relations
Detailed procedures for reporting to investors on the financial performance of the real estate portfolio
Information on using technology in the “due diligence” process
A wealth of sample forms and checklists used in real estate investment
A valuable glossary of real estate investment terms

Authoritative and easy to use, The Handbook of Commercial Real Estate Investing will serve as a valuable strategic guide to managing the overall real estate investment process, as well as a “best practices” tool for improving each operating area.

PART I: REAL ESTATE INVESTMENT PROCESS

Chapter 1: How Value Is Created in Real Estate – Value cycle of real estate – How investors participate in the value creation process – Role of synergy in creating value – Role of location in enhancing value – Land use regulation – Submarket location factors – Property factors – Market timing – Asset management

Chapter 2: Market Demand Drivers – Economics – Technology – Demographics – Business organizations – Physical workplace – Workplace location

Chapter 3: Property Type Characteristics – Apartments – Retail – Office – Industrial – Hotels

Chapter 4: Major Players – Life insurance companies – Foreign investors – Real Estate Investment Trusts (REITs) – Pension funds

Chapter 5: Understanding Investor Objectives – Pension funds – Individual investors – Foreign investors – Differing investor objectives – Reconciling investment focus with portfolio diversification

PART II: TRANSACTION MANAGEMENT

Chapter 6: Sourcing, Screening, and Preliminary Underwriting – Property sourcing – Property screening – Preliminary underwriting

Chapter 7: Preliminary Approvals and Negotiation – Preliminary approvals – Negotiations

Chapter 8: Due Diligence – Role of due diligence – Managing the process – Physical due diligence – Legal due diligence – Business due diligence

Chapter 9: Final Underwriting and Closing – Final underwriting – Final approvals – Closing documents – Title holding entity – Waive and closing – Transition to asset management

Chapter 10: Disposition – Targeting buyers – Broker selection – Listing agreement – Confidentiality agreement – Offering memorandum – Property reports – Disposition alternatives – Transaction documents – Due diligence – Transition to buyer’s asset management staff

PART III: ASSET MANAGEMENT

Chapter 11: Role of Asset Manager – The modern asset manager – Asset versus property management – Asset Manager’s responsibilities

Chapter 12: Role in Investment Transactions – Acquisitions – Transition to asset management – Dispositions

Chapter 13: Tenant Relations – Know the tenant’s business – Understanding the tenant’s financial condition – Tenant’s view of the building and management – Renewing leases – New leases

Chapter 14: Building Operations – Maintenance – Construction management – Security – Disaster planning

Chapter 15: Financial Reporting – Financial statements – Federal tax reporting – Comparative analysis PART IV: ENTERPRISE MANAGEMENT

Chapter 16: Leadership – Why has it been so difficult? – How real estate is changing – What is leadership? – Qualities of a good leader – How leadership skills can be improved – Establishing a nurturing work environment – Allow broader participation in decision making

Chapter 17: Strategic Planning – Strategic planning process – Evaluating alternatives – Formulating the final plan – Implementation – Summary

Chapter 18: Market Positioning – Identifying the target market – Refining the target market – Competitive environment – Battlefield mapping – Proposed fund features – A learning process

Chapter 19: Risk Management – Managing risk in a mixed asset portfolio – Managing real estate portfolio risks – Managing real estate enterprise risks

Chapter 20: Governance – Collapse of Enron – Legislative and regulatory reform – Reaction to governance reforms: public firms – Public real estate companies and corporate governance – Board of directors governance guidelines – Continuing corporate governance – Current situation

Appendix A: Technology and the Due Diligence Process

Appendix B: Legal Documents Glossary

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