Property finance:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Houndmills, Bsingstoke ; London
Macmillan Press
1994
|
| Schriftenreihe: | Macmillan building and surveying series
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | xv, 267 Seiten Diagramme |
| ISBN: | 0333576810 |
Internformat
MARC
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| 245 | 1 | 0 | |a Property finance |c David Isaac, Professor of Real Estate Management and Associate Head School of Land and Construction Management University of Greenwich |
| 264 | 1 | |a Houndmills, Bsingstoke ; London |b Macmillan Press |c 1994 | |
| 300 | |a xv, 267 Seiten |b Diagramme | ||
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Datensatz im Suchindex
| _version_ | 1804138141624303616 |
|---|---|
| adam_text | Contents
Foreword xi
Preface xiii
Acknowledgements xv
1 Introduction 1
1.1 Introduction 1
1.2 The structure of the investment market 2
1.3 Financial structures 3
1.4 The financing of property since the Second World War 8
1.5 Vocabulary of finance 12
1.6 Overview of the present finance market 14
1.7 The globalisation of finance 21
1.8 Summary 22
2 Theories of Finance 27
2.1 Introduction 27
2.2 Financial theory 27
2.3 The theories developed 32
2.4 The application of theory to practice 37
2.5 The comparison of property returns with other investment
media 40
3 The Structure of Finance 45
3.1 Introduction 45
3.2 Categories of finance 49
3.3 The finance market 52
3.4 Glossary of financial and property terms 55
4 Property Lenders 58
4.1 Sources of finance 58
4.2 Lending criteria 60
4.3 Development and investment lending 62
4.4 Problems of security 67
vii
viii Contents
4.5 Property lending survey 70
4.6 Market players 73
4.7 Loans and interest rates 75
4.8 Markets and margins 80
4.9 Interest rate management and hedging 81
4.10 Hedging instruments 83
5 Project-based Funding 93
5.1 Introduction 93
5.2 Equity partnerships 94
5.3 Forward sale 95
5.4 Sale and leaseback 96
5.5 Finance lease 98
5.6 Types of debt 100
5.7 Bridging finance 101
5.8 Loan terms and financial agreements 102
5.9 Syndicated loans 104
5.10 Mortgages 104
5.11 Non-recourse and limited-recourse loans 106
5.12 Project management fee 108
5.13 Contractor s finance 108
6 Corporate Finance 110
6.1 Introduction 110
6.2 Equity finance 113
6.3 Ordinary and preference shares 113
6.4 Issues and options 114
6.5 Warrants and convertibles 120
6.6 Debt 121
6.7 Debentures 122
6.8 Loan stock and bonds 123
6.9 Structured finance 123
6.10 Hybrids: debt with profit share 126
7 Debt Finance 128
7.1 Introduction 128
7.2 Corporate versus project-based debt 130
7.3 Long-term loans 131
7.4 Commercial mortgages 133
7.5 Convertible loans and mortgages 135
7.6 Corporate debt 135
7.7 Commercial paper 138
7.8 Multi-option facility (MOF) 140
Contents ix
7.9 Loan stock 143
7.10 Debentures 143
7.11 Deep-discounted bonds and junk bonds 144
7.12 Euromarket lending 148
7.13 Securitisation of debt 150
8 Equity Finance 152
8.1 Types of equity finance 152
8.2 Sources of equity 152
8.3 Equity in project-based funding 154
8.4 Equity in corporate funding 155
8.5 Authorised property unit trusts 155
8.6 Investment trusts and unit trusts 158
8.7 Mezzanine finance 159
8.8 Venture capital 161
9 Institutional Investment 163
9.1 Introduction 163
9.2 History 164
9.3 Partnership arrangements 166
9.4 Direct versus indirect development 167
9.5 Criteria for investment 168
9.6 Future for institutional investment 170
10 Property Companies 172
10.1 Introduction 172
10.2 Property shares 178
10.3 Discount on net asset value 181
10.4 Corporate finance structure 183
10.5 Gearing 187
10.6 Property trading companies and property investment
companies 189
10.7 Takeovers 190
10.8 Summary 194
11 Joint Ventures 196
11.1 Introduction 196
11.2 Criteria for choice of joint venture structure 196
11.3 Types of joint venture 197
11.4 Joint venture company (limited liability company) 197
11.5 Partnerships 199
11.6 Other types of joint venture 199
11.7 Partnership arrangements 200
x Contents
11.8 The formal agreement 200
11.9 Example of a joint venture 202
11.10 Summary 203
12 Unitisation and Securitisation 204
12.1 Definitions 204
12.2 History 206
12.3 Problems in the development of securitisation 209
12.4 The vehicles 210
12.5 Issues in securitisation 211
12.6 Example of securitisation 213
12.7 Conclusion 215
13 Financial Accounts 217
13.1 Property accou nts 217
13.2 Property accounts: issues 230
13.3 The regulation of accounts 232
13.4 Off-balance-sheet funding 233
13.5 Off-profit-and-loss-account funding 240
14 Financial Services 243
14.1 Introduction 243
14.2 Providers of financial services 244
14.3 Fees for providing financial services 247
14.4 The debt finance market 248
14.5 Presentation of loan proposals 249
14.6 Criteria of acceptance 249
14.7 Comparison of finance terms 251
14.8 Financial regulations 252
Bibliography 257
Index 263
|
| adam_txt |
Contents
Foreword xi
Preface xiii
Acknowledgements xv
1 Introduction 1
1.1 Introduction 1
1.2 The structure of the investment market 2
1.3 Financial structures 3
1.4 The financing of property since the Second World War 8
1.5 Vocabulary of finance 12
1.6 Overview of the present finance market 14
1.7 The globalisation of finance 21
1.8 Summary 22
2 Theories of Finance 27
2.1 Introduction 27
2.2 Financial theory 27
2.3 The theories developed 32
2.4 The application of theory to practice 37
2.5 The comparison of property returns with other investment
media 40
3 The Structure of Finance 45
3.1 Introduction 45
3.2 Categories of finance 49
3.3 The finance market 52
3.4 Glossary of financial and property terms 55
4 Property Lenders 58
4.1 Sources of finance 58
4.2 Lending criteria 60
4.3 Development and investment lending 62
4.4 Problems of security 67
vii
viii Contents
4.5 Property lending survey 70
4.6 Market players 73
4.7 Loans and interest rates 75
4.8 Markets and margins 80
4.9 Interest rate management and hedging 81
4.10 Hedging instruments 83
5 Project-based Funding 93
5.1 Introduction 93
5.2 Equity partnerships 94
5.3 Forward sale 95
5.4 Sale and leaseback 96
5.5 Finance lease 98
5.6 Types of debt 100
5.7 Bridging finance 101
5.8 Loan terms and financial agreements 102
5.9 Syndicated loans 104
5.10 Mortgages 104
5.11 Non-recourse and limited-recourse loans 106
5.12 Project management fee 108
5.13 Contractor's finance 108
6 Corporate Finance 110
6.1 Introduction 110
6.2 Equity finance 113
6.3 Ordinary and preference shares 113
6.4 Issues and options 114
6.5 Warrants and convertibles 120
6.6 Debt 121
6.7 Debentures 122
6.8 Loan stock and bonds 123
6.9 Structured finance 123
6.10 Hybrids: debt with profit share 126
7 Debt Finance 128
7.1 Introduction 128
7.2 Corporate versus project-based debt 130
7.3 Long-term loans 131
7.4 Commercial mortgages 133
7.5 Convertible loans and mortgages 135
7.6 Corporate debt 135
7.7 Commercial paper 138
7.8 Multi-option facility (MOF) 140
Contents ix
7.9 Loan stock 143
7.10 Debentures 143
7.11 Deep-discounted bonds and junk bonds 144
7.12 Euromarket lending 148
7.13 Securitisation of debt 150
8 Equity Finance 152
8.1 Types of equity finance 152
8.2 Sources of equity 152
8.3 Equity in project-based funding 154
8.4 Equity in corporate funding 155
8.5 Authorised property unit trusts 155
8.6 Investment trusts and unit trusts 158
8.7 Mezzanine finance 159
8.8 Venture capital 161
9 Institutional Investment 163
9.1 Introduction 163
9.2 History 164
9.3 Partnership arrangements 166
9.4 Direct versus indirect development 167
9.5 Criteria for investment 168
9.6 Future for institutional investment 170
10 Property Companies 172
10.1 Introduction 172
10.2 Property shares 178
10.3 Discount on net asset value 181
10.4 Corporate finance structure 183
10.5 Gearing 187
10.6 Property trading companies and property investment
companies 189
10.7 Takeovers 190
10.8 Summary 194
11 Joint Ventures 196
11.1 Introduction 196
11.2 Criteria for choice of joint venture structure 196
11.3 Types of joint venture 197
11.4 Joint venture company (limited liability company) 197
11.5 Partnerships 199
11.6 Other types of joint venture 199
11.7 Partnership arrangements 200
x Contents
11.8 The formal agreement 200
11.9 Example of a joint venture 202
11.10 Summary 203
12 Unitisation and Securitisation 204
12.1 Definitions 204
12.2 History 206
12.3 Problems in the development of securitisation 209
12.4 The vehicles 210
12.5 Issues in securitisation 211
12.6 Example of securitisation 213
12.7 Conclusion 215
13 Financial Accounts 217
13.1 Property accou nts 217
13.2 Property accounts: issues 230
13.3 The regulation of accounts 232
13.4 Off-balance-sheet funding 233
13.5 Off-profit-and-loss-account funding 240
14 Financial Services 243
14.1 Introduction 243
14.2 Providers of financial services 244
14.3 Fees for providing financial services 247
14.4 The debt finance market 248
14.5 Presentation of loan proposals 249
14.6 Criteria of acceptance 249
14.7 Comparison of finance terms 251
14.8 Financial regulations 252
Bibliography 257
Index 263 |
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| indexdate | 2024-07-09T21:23:28Z |
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| isbn | 0333576810 |
| language | English |
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| physical | xv, 267 Seiten Diagramme |
| publishDate | 1994 |
| publishDateSearch | 1994 |
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| publisher | Macmillan Press |
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| series2 | Macmillan building and surveying series |
| spelling | Isaac, David Verfasser aut Property finance David Isaac, Professor of Real Estate Management and Associate Head School of Land and Construction Management University of Greenwich Houndmills, Bsingstoke ; London Macmillan Press 1994 xv, 267 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Macmillan building and surveying series Finanzierung (DE-588)4017182-6 gnd rswk-swf Immobilienanlage (DE-588)4120474-8 gnd rswk-swf Großbritannien (DE-588)4022153-2 gnd rswk-swf Großbritannien (DE-588)4022153-2 g Immobilienanlage (DE-588)4120474-8 s Finanzierung (DE-588)4017182-6 s 1\p DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=016826912&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Isaac, David Property finance Finanzierung (DE-588)4017182-6 gnd Immobilienanlage (DE-588)4120474-8 gnd |
| subject_GND | (DE-588)4017182-6 (DE-588)4120474-8 (DE-588)4022153-2 |
| title | Property finance |
| title_auth | Property finance |
| title_exact_search | Property finance |
| title_exact_search_txtP | Property finance |
| title_full | Property finance David Isaac, Professor of Real Estate Management and Associate Head School of Land and Construction Management University of Greenwich |
| title_fullStr | Property finance David Isaac, Professor of Real Estate Management and Associate Head School of Land and Construction Management University of Greenwich |
| title_full_unstemmed | Property finance David Isaac, Professor of Real Estate Management and Associate Head School of Land and Construction Management University of Greenwich |
| title_short | Property finance |
| title_sort | property finance |
| topic | Finanzierung (DE-588)4017182-6 gnd Immobilienanlage (DE-588)4120474-8 gnd |
| topic_facet | Finanzierung Immobilienanlage Großbritannien |
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