Understanding Private Real Estate by Campana, Lori -- Read -- Imperial Library of Trantor

Index

Cover Title Copyright Contents Figures and tables Introduction 1 Private real estate: A global overview of the asset class

By Charles Conrath, J.P. Morgan Asset Management and Kasia Sielewicz, DTZ Introduction Size of the market The four quadrants Investment risks Investment styles Fund structures Future trends

2 Investing in real estate: Navigating market cyclicality

By Alan Patterson, AXA Real Estate Investment Managers Polarised investment markets: regional analysis Office yield patterns: key business conurbations Prime property Secondary property Trends in rental values by sector Outlook: 2012 and beyond

3 Sourcing capital for a private real estate fundraise

By Lori Campana, Monument Group Introduction Roles of constituent parties Choosing the best fundraising strategy Sourcing capital: an eight-step guide Best practice fund structuring Conclusion

4 Financing the investment: The capital structure

By Andrew Yoon and Sonny Kalsi, GreenOak Real Estate Debt Equity Risk and reward: impact of leverage on equity returns Capital distribution

5 The appraisal process

By Ollie Saunders, Drivers Jonas Deloitte Introduction Purpose of appraisals The appraisal process Appraisal methods Regulation and governance

6 Valuing the real estate asset

By Phillip H. Gainey, RICS Basis of value The market approach The cost approach The income approach Sensitivity to assumptions

7 Due diligence and key legal terms

By Hawkeye Partners, LP Introduction Fund due diligence Legal fund terms Conclusion

8 Asset management: strategy and role of the manager

By Nigel Wheeler, Jones Lang LaSalle Introduction Role of the asset manager Asset strategy: key property performance influencers

9 Exiting a fund: strategy, planning and processes

By Deborah Lloyd, Nabarro LLP Life of private real estate funds Exiting early from funds Planning an exit Fund rollovers Fund extensions End of term processes Follow-on funds Secondary trading

10 The future of private real estate: Predictions for the next decade

By Derek Williams, Russell Investments Introduction Secondary trading takes off globally US remains the dominant market Land – a key strategy for long term investors Buy, hold, sell private equity fund model evolves Good governance wins Rising stars Focus on core investing DB to DC A common industry voice ESG Conclusion

Glossary of terms About PEI Back Cover