Suitable for the Real Estate Finance course, this book provides students with the tools they need to understand and analyze real estate markets and the investment alternatives available to both debt and equity investors.

PART ONE Introduction 1 An Introduction to Real Estate Investment: Legal Concepts 2 Financing: Notes and Mortgages 3 The Interest Factor in Financing PART TWO Financing Residential Properties 4 Fixed Rate Mortgage Loans 5 Adjustable Rate and Variable Payment Mortgages 6 Residential Financial Analysis 7 Single Family Housing: Pricing, Investment, and Tax Considerations 8 Underwriting and Financing Residential Properties PART THREE Financing Income Properties (Debt and Equity) 9 Introduction to Income-Producing Properties: Leases and the Market for Space 10 Valuation of Income Properties: Appraisal and the Market for Capital 11 Investment Analysis and Taxation of Income Properties 12 Financial Leverage and Financing Alternatives 13 Risk Analysis 14 Disposition and Renovation of Income Properties 15 Financing Corporate Real Estate PART FOUR Financing Proposed Projects 16 Financing Project Development 17 Financing Land Development Projects PART FIVE Alternative Real Estate Investment Vehicles 18 Partnerships, Joint Ventures, and Syndications 19 The Secondary Mortgage Market: Pass-Through Securities 20 The Secondary Mortgage Market: CMOs and Derivative Securities 21 Real Estate Investment Trusts (REITs) 22 Real Estate Investment Performance and Portfolio Considerations APPENDIXES A Annual Compound Interest Tables B Monthly Compound Interest Tables INDEX