Book in print: ‘Commercial Real Estate Analysis for Investment, Finance, and Development’
The Geltner/Miller/Eichholtz book was probably the textbook that taught me the most… and the people behind it even more: Piet became my MPhil and PhD supervisor at Maastricht University, David was the key scholar and mentor during my postdoc at MIT and Norm guided my way into the Homer Hoyt Institute and ARES community. Now, more than a decade after the last update, the 4th edition of the book is finally in production, featuring my name among the authors (humblebrag).
Commercial Real Estate Analysis for Investment, Finance, and Development
By David M. Geltner, Norman G. Miller, Alex Van De Minne, Piet Eichholtz, Thies Lindenthal, Lily Shen.
Commercial Real Estate Analysis for Investment, Finance and Development, a fully revised fourth edition of the authors’ leading textbook, presents the foundations of real estate investment analysis with the rigor of general finance and economics. This book introduces the essential building blocks of the field: market assumptions, valuation, financial analysis, and development. Drawing from extensive academic and industry experience, the authors approach the investment analysis process using a combination of theory and practical tools in a discussion tailored to advanced students.
Topics include value concepts, mortgage analysis, financing alternatives, option value, leverage and risk analysis, as well as institutional and capital market trends. Additionally, the new edition addresses climate risks, alternative property types, and the impact of technology on real estate as an asset class. New supplemental online resources complement the book’s conceptual and quantitative study questions, chapter summaries, and other useful pedagogical features.
Combining a practical grounding in economics and finance with updated tools and resources, this edition of Commercial Real Estate Analysis for Investment, Finance and Development provides a new generation of professionals the foundation and tools they need to excel as investment managers, advisers, and analysts. Ideal for graduate studies in real estate, finance, and business, this textbook prepares students for the real-world complexities and challenges of commercial real estate.
For access to additional, online chapters and other Instructor and Student Resources, please visit: www.routledge.com/cw/geltner-miller
We updated and streamlined the book: The first part (printed) gives a foundation in real estate finance that should nicely fit into a semester/term. The second part (online) allows for customisation with more specialised topics. This structure will hopefully be closer to the reality of how instructors have used the book in their courses – at least this is how I teach here in Cambridge. Importantly, the new format also brought the price down: With current discounts, it will cost £59 in the UK, which is less than what I paid 20 years ago (even in nominal terms!).
