Foreword: A little learning
1 Space, time and assets: The three markets that drive real estate
2 Debt, equity and the cost of capital: Can debt add value and enhance investment returns?
3 The real estate quadrant model: Finding value in the capital stack
4 Inside the engine room – getting the metrics right: Discounted cash flow analysis
5 Decisions, decisions … trick or treat?: Real options and the price of choice
6 Change the rules, change the game: How property rights regulate outcomes
7 When property rights fail –compensation and rent-seeking: Getting to “fair value”
8 When property rights fail –externalities: Good fences make good neighbours
9 Natural resources –old problems, changing rules: Confronting “the surly bonds of earth”
10 Investment portfolios: where does real estate fit in?: Putting it all together
11 Inside the crystal ball – A user’s guide: What is forecasting for?
Index
Biography
David Rees is an independent consultant. With a background in finance, real estate and investment strategy he has held positions as
- Regional Director of Research at JLL, an international real estate broker and manager
- Head of Research at Mirvac, a diversified publicly listed REIT
- Head of Research at Commonwealth Bank, Australia’s largest commercial bank
He is based in Sydney, Australia.
