The hard, unfiltered truth about the biggest myths and mistakes in real estate investing
Commercial Real Estate Investing: An Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns
is an evidence-based guide and critique of investment practices that teaches investors how to avoid uncompensated risk, improve risk-adjusted returns, and avoid wealth-destroying myths. Each chapter includes an executive summary and numerous exhibits. The book also features interviews with senior real estate industry leaders.
The author, Dr. Randall Zisler, legendary advisor to the largest global institutional investors, former Goldman Sachs real estate research director and Princeton University professor, has completed over $6 billion of institutional transactions. Not beholden to any investor or money manager, he is uniquely positioned to speak truth to capital and power; he is completely objective.
Topics include:
Investment challenges like COVID, inflation, diversification, liquidity, downside, development risk, leverage, underfunded public pension funds, default, obsolescence, and the Winner's Curse
The building blocks of real estate, including public and private equity and debt
Property types, such as housing, retail, self-storage, industrial warehouses, and office
Public policy, including land use controls, rent stabilization, affordability, and sprawl;
Risk-based simulations of deals with leverage, limited and general partners and fees
Investor checklist of risks and opportunities
Sidestepping industry platitudes and abstraction,
Commercial Real Estate Investing
is a must-read for all real estate professionals as well as novices who seek better decisions with greater confidence while avoiding one-size-fits-all solutions.