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Commercial Real Estate Analysis & Investments. David M. Geltner and Norman G. Miller, Florence, KY: South-Western (Thomson Learning), 2001.
Reviewed by: Carlos Slawson, Louisiana State University.
A new real estate textbook written by David M. Geltner and Norman G. Miller appeared in print during the Fall of 2000. The purpose of the textbook, as stated in the preface, is to present a real estate "body of knowledge" at a level that the typical American graduate student can readily understand. The authors carry out this goal using a fresh style that is academically rigorous, yet practically relevant. Using this text, the student is immediately submerged within a solid financial economics framework. Commercial real estate is portrayed as an integrated analysis of corporate finance and investments. Within this framework of core MBA principles, the textbook also attempts to bridge "Wall Street to Main Street," making this textbook an excellent choice for instructors of masters-level real estate courses who desire to provide academic rigor with practical relevance for real estate decision-making.
Organization and Readability
This nearly 900 page textbook contains thirty chapters with the following sections:
1. An Introduction to Real Estate Economics
2. Urban Economics and Real Estate Market Analysis
3. Basic Financial Economic Concepts and Tools
4. Real Estate Investment Analysis & Valuation at the Micro Level
5. Completing the Basic Investment Analysis Picture
6. Mortgages from an Investment Perspective
7. Macro-level Real Estate Investment Issues
8. Real Estate Development and Other Selected Topics.
This textbook is grounded in the commercial real estate decision-making process using principles of financial and urban economics. It is designed to develop and communicate a coherent body of knowledge to address real estate and mortgage valuation and investment issues at a basic or macro level. It may be impossible to cover this textbook in one semester. However, the division of chapters makes it adaptable to many formats.
There are four different...