FOURTH EDITION (2023)

Real Estate Investment

A Strategic Approach

Real Estate Investment: A Strategic Approach introduces professional and technical approaches to building and managing large real estate portfolios. The new edition has been fully rewritten and reorganised and includes five new chapters, 25 new international case studies and a renewed focus on topics such PropTech (property technology), innovation and ESG.

Andrew Baum outlines the market and the players who dominate it; the investment process; the vehicles available for investment; and an approach to global portfolio construction, pricing and performance measurement. The book contains many useful features for students, including numerous boxed examples drawing on international cases, a glossary, and chapter summaries.

Ideal for undergraduate and postgraduate students on all real estate and property courses and related business studies and finance courses, Real Estate Investment is designed to provide a foundation for the next generation of investment managers, advisers and analysts.

Table of contents and book resources

Errata and updates

Case studies

Part one: Introduction to the market

Chapter one

 Introduction:
Real Estate – The Asset Class

Chapter two

The Market – and Who Makes It

Chapter three

Market Fundamentals and Rent

Part two: The investment process

Chapter four

Pricing Real Estate and
The Investment Process 

Chapter five

Portfolio Theory and Risk 

Chapter six

Development

Chapter seven

Asset Management 

Chapter eight

Capital Structure: Equity and Debt

Part three: Investment vehicles

Chapter nine

Real Estate Funds

Chapter ten

 Structured Real Estate
Investment and Options

Part four: Building portfolios

Chapter eleven

International Real Estate Investment 

Chapter twelve

Real Estate Strategy –
Theory Into Practice

Part five: Measuring performance

Chapter thirteen

Performance Measurement
and Attribution

Part six: The future

Chapter fourteen

The Future of Real Estate Investment