Textbook
Commercial Real Estate: Analysis & Investments
Real estate can be defined from multiple perspectives: as land, built spaces that shape cities, or as a significant portion of global capital assets, valued at over $25 trillion in the U.S. alone. Its academic study spans various disciplines such as architecture, engineering, environmental science, and law. However, this book focuses on the financial economics of real estate, particularly commercial property from an investment perspective. The financial approach views real estate as future cash flows, whose magnitude, timing, and risk are determined by rental markets and capital markets, making financial economics essential to understanding real estate as a capital asset.
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