Finance for real estate development:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Washington, DC
Urban Land Inst.
2011
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | Includes index The development process -- The basics of real estate finance -- Land valuation for acquisition -- Task management and budgeting -- Capital markets for real estate -- Obtaining financing for development -- The development entity, joint ventures, and the financing structure -- Managing the entitlement process for financial viability -- Public/private partnerships -- How developers get capital |
| Beschreibung: | VIII, 216 S. ill. 26 cm |
| ISBN: | 9780874204308 9780874201574 |
Internformat
MARC
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| 020 | |a 9780874204308 |c paperback |9 978-0-87420-430-8 | ||
| 020 | |a 9780874201574 |9 978-0-87420-157-4 | ||
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| 245 | 1 | 0 | |a Finance for real estate development |c Charles Long |
| 264 | 1 | |a Washington, DC |b Urban Land Inst. |c 2011 | |
| 300 | |a VIII, 216 S. |b ill. |c 26 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes index | ||
| 500 | |a The development process -- The basics of real estate finance -- Land valuation for acquisition -- Task management and budgeting -- Capital markets for real estate -- Obtaining financing for development -- The development entity, joint ventures, and the financing structure -- Managing the entitlement process for financial viability -- Public/private partnerships -- How developers get capital | ||
| 650 | 4 | |a Real estate development | |
| 650 | 4 | |a Real estate development / Finance | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024477347&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-024477347 | ||
Datensatz im Suchindex
| _version_ | 1804148476138749952 |
|---|---|
| adam_text | Titel: Finance for real estate development
Autor: Long, Charles
Jahr: 2011
Contents
Chapter 1. The Development Process..........................2 Disciplined Acquisition: Site Selection, Negotiation,
Real Estate Overview............................................................................3 and Due Diligence.............................................................................66
The Development Process and Risk.................................................6 Information Inputs....................................................................67
Stages of Development........................................................................8 Negotiating with Site Owners................................................70
Predevelopment............................................................................8 Due Diligence.............................................................................72
Development..................................................................................9
Close-out and Operation..........................................................10
Example: Simple Pro Forma for a Mixed-Use Project..............74
Four Dimensions of Successful Development............................12 Chapter 4. Task Management and Budgeting........76
Values.............................................................................................12 Task Management to Achieve Financial Viability.....................77
Information....................................................................................12 Site.................................................................................................78
Financial Viability.......................................................................13 Market...........................................................................................79
Relationships...............................................................................14 Community..................................................................................80
Skills of a Successful Developer......................................................14 Product/Project Design...........................................................80
Development Sectors........................................................................16 Cost and Construction Management....................................81
Customer Issues..........................................................................19 Finance..........................................................................................84
Return, Absorption, and Risk..................................................19 Personnel Selection....................................................................84
Case Study............................................................................................22 Other Services.............................................................................90
_____________________________________________________ Task Funding..........................................................................................91
Chapter 2. The Basics of Real Estate Finance.........28
Basic Debt and Equity Structure....................................................30 Chapter 5. Capital Markets for Real Estate.............92
Project Valuation.................................................................................33 Capital Market Conditions...............................................................93
Capitalization Rates...................................................................35 Capital Sources...................................................................................96
Measuring Project Return 38 Banks, Savings and Loans, and Mutual Savings Banks........99
Internal Rates of Return...........................................................38 Commercial Mortgage-Backed Securities.........................101
Leverage.......................................................................................40 Private Equity Capital..............................................................103
Funding a Project.................................................................................41 Fiduciary Principles............................................................................111
Funding Predevelopment Costs..............................................41 Investment Strategies......................................................................114
Debt Funding 41 Property Characteristics..................................................................116
Equity Funding............................................................................43 Sector Risk..................................................................................116
The Typical Deal..................................................................................45 Regional Strength......................................................................117
Financial Structuring for a Hypothetical Project........................45 Tenant Strength.........................................................................118
Estimating Costs.........................................................................48 Value-Add Opportunities......................................................118
Evaluating Return 54 Capital Markets and the Risk-Reward Evaluation....................119
Chapter 3. Land Valuation for Acquisition 58 Chapter 6. Obtaining Financingfor Development 120
Determining a Valid Hurdle Rate for Evaluating
Market Conditions..............................................................................121
Project Viability...................................................................................59 Connecting with Capital Sources..................................................123
Calculating the Supported Investment and Residual Accessing Predevelopment and Development
Land Value............................................................................................62 Equity Capital.............................................................................123
Costs..............................................................................................62 Accessing Construction and Permanent
Residual Land Value .................................................................63 Financing......................................................................................126
Finding a Buyer for the Property...........................................126
Presenting to Financing Sources...................................................126 Managing the Process......................................................................159
Experience, Credibility, and Financial Capacity Conclusion...........................................................................................161
of the Development Entity......................................................127____________________________________________________
The Development Project and the Chapter 9. Public/Private Partnerships..................162
Business Plan..............................................................................127
Entitlement Process and Role of Public/Private
Partnerships................................................................................129
Conclusion...........................................................................................129
Chapter 7. The Development Entity, Joint Ventures,
and the Financing Structure.........................................130
Real Estate Entities.............................................................................131
Application..........................................................................................163
Public Capital for Private Projects.......................................164
Entitlement Risk.......................................................................166
Site Access, Cleanup, and Reconfiguration.......................167
Co-investment..........................................................................168
Community Preparation.................................................................169
Partnership Entity.....................................................................170
Financing Program for Infrastructure or Other
Partnerships................................................................................132
Public Facilities...........................................................................171
Limited Liability Companies (LLC).......................................133
Business Improvement Districts............................................171
Stapleton Airport Redevelopment: An Example
Real Estate Investment Trusts...............................................133 of Community Preparation......................................................171
Corporations.............................................................................134 How Communities and Developers Work Together...............172
Elements of a Joint Venture...........................................................134 Negotiating a Deal....................................................................173
Business Plan.............................................................................136
Public/Private Financing Tools......................................................174
Participants................................................................................136 Redevelopment Agencies.......................................................174
Governance................................................................................137
Capitalization.............................................................................137
Revenue Distribution Among the Partners.......................138
General Provisions...................................................................139
Municipal Bonds.......................................................................176
Land Assembly and Conveyance ........................................178
Grants and Incentives .............................................................179
Affordable Housing Subsidies..............................................179
Financing Structure...........................................................................139 Tax Credits..................................................................................180
Profit Distribution to the Development Entity.........................144
Example: Profit Distribution within a Development Entity.......145
Deal Standards...................................................................................182
Chapter 8. Managing the Entitlement
Process for Financial Viability 150
Mapping the Process........................................................................152
Before Making an Offer...........................................................153
After an Offer is Accepted.....................................................153 Appendix A: Bios of Interviewees..................................198
Chapter 10. How Developers Get Capital..............186
Getting Started...................................................................................187
Building Relationships......................................................................192
Skills for Acquiring Capital in the 2010s....................................194
During Due Diligence..............................................................154
As Circumstances Change....................................................154
Managing Project Economics During Entitlement ................154
Density.........................................................................................155
Parking..........................................................................................158
Public Improvements...............................................................158
Design...........................................................................................158
Appendix B: Glossary.............................................................202
Index..................................................................................................208
|
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| classification_rvk | QT 360 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.7/2 |
| dewey-search | 332.7/2 |
| dewey-sort | 3332.7 12 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Book |
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| id | DE-604.BV039627108 |
| illustrated | Illustrated |
| indexdate | 2024-07-10T00:07:44Z |
| institution | BVB |
| isbn | 9780874204308 9780874201574 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-024477347 |
| oclc_num | 707327770 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR DE-91 DE-BY-TUM |
| owner_facet | DE-355 DE-BY-UBR DE-91 DE-BY-TUM |
| physical | VIII, 216 S. ill. 26 cm |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | Urban Land Inst. |
| record_format | marc |
| spelling | Long, Charles 1947- Verfasser (DE-588)1014188288 aut Finance for real estate development Charles Long Washington, DC Urban Land Inst. 2011 VIII, 216 S. ill. 26 cm txt rdacontent n rdamedia nc rdacarrier Includes index The development process -- The basics of real estate finance -- Land valuation for acquisition -- Task management and budgeting -- Capital markets for real estate -- Obtaining financing for development -- The development entity, joint ventures, and the financing structure -- Managing the entitlement process for financial viability -- Public/private partnerships -- How developers get capital Real estate development Real estate development / Finance HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024477347&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Long, Charles 1947- Finance for real estate development Real estate development Real estate development / Finance |
| title | Finance for real estate development |
| title_auth | Finance for real estate development |
| title_exact_search | Finance for real estate development |
| title_full | Finance for real estate development Charles Long |
| title_fullStr | Finance for real estate development Charles Long |
| title_full_unstemmed | Finance for real estate development Charles Long |
| title_short | Finance for real estate development |
| title_sort | finance for real estate development |
| topic | Real estate development Real estate development / Finance |
| topic_facet | Real estate development Real estate development / Finance |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=024477347&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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