{"product_id":"commercial-real-estate-investing-an-evidence-based-approach-to-risk-management-strategic-valuation-and-enhanced-returns-hardback-9781394326372","title":"Commercial Real Estate Investing; An Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns (Hardback) 9781394326372","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eCommercial Real Estate Investing\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eAn Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eRandall Zisler (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781394326372, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 7 October 2025\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e512 pages\u003cbr\u003e23.9 x 19.8 x 4.1 cm, 0.93 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eThe hard, unfiltered truth about the biggest myths and mistakes in real estate investing\u003c\/b\u003e \u003c\/p\u003e\n\u003cp\u003e\u003cb\u003e\u003ci\u003eCommercial Real Estate Investing: An Evidence-Based Approach to Risk Management, Strategic Valuation, and Enhanced Returns\u003c\/i\u003e\u003c\/b\u003e 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. \u003c\/p\u003e\n\u003cp\u003eThe 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. \u003c\/p\u003e\n\u003cp\u003eTopics include: \u003c\/p\u003e\n\u003cul\u003e \u003cli\u003eInvestment challenges like COVID, inflation, diversification, liquidity, downside, development risk, leverage, underfunded public pension funds, default, obsolescence, and the Winner's Curse\u003c\/li\u003e \u003cli\u003eThe building blocks of real estate, including public and private equity and debt\u003c\/li\u003e \u003cli\u003eProperty types, such as housing, retail, self-storage, industrial warehouses, and office\u003c\/li\u003e \u003cli\u003ePublic policy, including land use controls, rent stabilization, affordability, and sprawl;\u003c\/li\u003e \u003cli\u003eRisk-based simulations of deals with leverage, limited and general partners and fees\u003c\/li\u003e \u003cli\u003eInvestor checklist of risks and opportunities\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eSidestepping industry platitudes and abstraction, \u003cb\u003e\u003ci\u003eCommercial Real Estate Investing\u003c\/i\u003e\u003c\/b\u003e 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.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eAcknowledgments vii\u003c\/p\u003e \u003cp\u003eAbout the Author xiii\u003c\/p\u003e \u003cp\u003ePREFACE xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Introduction to Real Estate and Risk 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 Who Should Read This Book, and Why? 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Danel Neidich, CEO and Founder, Dune Capital Management and former Goldman Sachs Partner 10\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Statistics, Monte Carlo, Bayes Rule, Stochastic Arithmetic, and Uncertain Attributes 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Professor Joseph L. Pagliari, Jr., John Mazarakis and Chicago Atlantic Clinical Professor of Real Estate, The University of Chicago 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II The Building Blocks: Public, Private, Equity, and Debt 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 What Is Real Estate? Leases, Buildings, and Cities 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Michael Fascitelli, Chairman, MDF Capital 62\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 The Capital Stack, Optimal Leverage, WACC, and Mortgage Default 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Michael Giliberto, Co-Creator of the Giliberto-Levy Indexes; formerly senior portfolio manager at J. P. Morgan; and currently serving on corporate and pension fund boards 79\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 The Lease: An Options Approach and Upward-Only Adjusting Leases 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Doug Lyons, Managing Principal, Pearlmark 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 The Real Estate Quadrants: Interdependent and Predictive 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Ethan Penner, Chairman, MOSAIC 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Property: The Macroeconomics of Performance and Risk 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Owen Thomas, Chairman and CEO, BXP, Inc. 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Office Property: COVID-19, Obsolescence, Work From Home (WFH), and Conversions 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with John Sischo, Managing Principal, Coretrust Capital Partners, LLC 185\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Risk Analysis in Practice: Retail, Self-Storage, and Housing 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Benjamin Shibe Macfarland III, CEO, SROACapital.com, LLC 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Performance Analysis, Risk, and Popular Myths 201\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Asset Allocation, with and without Liabilities, and Shortfall Constraints 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Sonny Kalsi, Co-CEO, BGO 250\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Optimal Development: Linkage, the Internal Cost of Capital, and Risk 253\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Steve Wechsler, President and CEO of National Association of Real Estate Investment Trusts 276\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Cap Rates and Hidden Information: Avoiding Traps with Caps 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Steve Rosenberg, Founder and CEO, Greystone 313\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Liquidity: Turnover, MSA Liquidity, and Investment Horizon 315\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Ron Havner, Chairman of Public Storage and Chairman Emeritus of Shurgard 340\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Is Real Estate an Effective Inflation Hedge? Only in the Long Run 343\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Jason Benderly, President, Benderly Economics and former Chief Economist of Goldman Sachs 371\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 A Monte Carlo Model of GP and LP Interests in a Structured Joint Venture 373\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Ralph Rosenberg, Chairman of Real Assets, KKR 391\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV The Public Sector and Collective Risk 393\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 Public-Sector Risk: Introduction to Sprawl and Rent Control 395\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Matthew Zisler, Senior Managing Director, Greystone 401\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17 Sprawl: An Options Perspective 403\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Daniel Cummings, Managing Director, Bain Capital 410\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18 Rent Control Redux: Prediction, Assessment, and Opportunity 413\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Aly Worthington, Head of Capital Markets, Summit Development 425\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V Behavioral Bias, Investment Risk, and An Investor’s Guide 427\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e19 Cognitive Errors, Picking Winners, and the Risk of Overpaying 429\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Susan Stupin, Managing Director, Prescott Holdings, LLC; The Prescott Group, LLC 446\u003c\/p\u003e \u003cp\u003e\u003cb\u003e20 Underfunded Public Pension Funds, Risk, and Alternatives 449\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Richard F. Burns, Senior Advisor \u0026amp; Trustee, The NHP Foundation 460\u003c\/p\u003e \u003cp\u003e\u003cb\u003e21 Investor’s Checklist and Conclusions 463\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQ\u0026amp;A: Interview with Russell Platt, Co-Founder and CEO of Forum Partners 469\u003c\/p\u003e \u003cp\u003eNotes 471\u003c\/p\u003e \u003cp\u003eIndex 477\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52405466169624,"sku":"9781394326372","price":56.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781394326372.jpg?v=1784135014","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/commercial-real-estate-investing-an-evidence-based-approach-to-risk-management-strategic-valuation-and-enhanced-returns-hardback-9781394326372","provider":"Freshly Printed Books","version":"1.0","type":"link"}