Commercial Real Estate Investing: An Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns

Commercial Real Estate Investing: An Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns is an evidence-based guide and critique of investment practices that teaches investors how to avoid uncompensated risk, improve risk-adjusted returns, and avoid wealth-destroying myths. Each chapter includes an executive summary and numerous exhibits. The book also features interviews with senior real estate industry leaders.

The author, Dr. Randall Zisler, legendary advisor to the largest global institutional investors, former Goldman Sachs real estate research director and Princeton University professor, has completed over $6 billion of institutional transactions. Not beholden to any investor or money manager, he is uniquely positioned to speak truth to capital and power; he is completely objective.

Topics include:

• Investment challenges like COVID, inflation, diversification, liquidity, downside, development risk, leverage, underfunded public pension funds, default, obsolescence, and the Winner's Curse
• The building blocks of real estate, including public and private equity and debt
• Property types, such as housing, retail, self-storage, industrial warehouses, and office
• Public policy, including land use controls, rent stabilization, affordability, and sprawl;
• Risk-based simulations of deals with leverage, limited and general partners and fees
• Investor checklist of risks and opportunities

Sidestepping industry platitudes and abstraction, Commercial Real Estate Investing is a must-read for all real estate professionals as well as novices who seek better decisions with greater confidence while avoiding one-size-fits-all solutions.