Emerging Market Real Estate (F - Hardcover

by David J. Lynn (Author), Tim Wang (With)

"This book is a comprehensive and insightful overview of international real estate focusing on three of the BRICs: China, India and Brazil. I was pleasantly surprised to find useful market data and industry profiles for each of the countries that were very consistent with my first hand experience. The book has a wealth of information for the real estate investment analyst and practitioner and will be very useful to those seeking guidance on what to expect in emerging markets."
--Joseph F. Azrack, Managing Partner, Real Estate, Apollo Global Management

"David Lynn has set the bar with respect to real estate investment in the most compelling emerging markets. Lynn provides a framework for thinking about highly dynamic markets characterized by youthful populations, extraordinary demand, capital inefficiency and, most importantly, aspiration. This book will enlighten institutional investors and entrepreneurs alike. I look forward to another work by David Lynn addressing the frontier markets."
--Gary R. Garrabrant, CEO & Co-Founder, Equity International

An informed look at investing in emerging market real estate

Focusing primarily on private equity real estate investment in China, India, and Brazil this reliable resource develops a general approach to commercial real estate investment in emerging markets, and illustrates some common strategies and analytical methods that can be implemented within this arena.

Filled with in-depth insights and expert advice, Emerging Market Real Estate Investment focuses on broad investment themes and strategies as well as economic and legal/institutional factors, rather than the minute details of local market analyses. Opening with two informative chapters that provide an overview of the fundamentals of commercial and international real estate investment, this practical guide then moves on to the country-specific chapters of China, India, and Brazil.

• Outlines various real estate investment options and strategies for emerging markets such as China, India, and Brazil
• Discusses the main features of each real estate market, including real estate foreign direct investment (FDI)
• Analyzes several primary real estate sectors in each country: office, retail, residential, industrial, and hotel where applicable

Written with both institutional and private investors in mind, Emerging Market Real Estate Investment will put you in a better position to excel in emerging real estate markets.

Praise for Emerging Market Real Estate Investment

"Emerging Market Real Estate Investment is written with a top down strategic orientation. It presents an excellent overview for US institutional investors planning to invest in offshore real estate in general and emerging markets and China, India and Brazil specifically. It covers all the key points my firm had to address before investing in China. I wish it had been available then."
--Robert H. Zerbst, Former Chairman & CEO, CB Richard Ellis Investors

Front Jacket

In recent years, China, India, and Brazil have received much attention, and rightfully so. They are among the biggest and fastest-growing economies, encompassing a significant percentage of the world's land coverage, 30 percent of the world's population, and amounting to a combined gross domestic product (GDP) of more than twelve trillion dollars. While there are ample real estate investment opportunities available in these and other emerging markets, understanding the dynamics of this important asset class is essential if you intend on making prudent investments.

Focusing primarily on private equity real estate investment in China, India, and Brazil, this reliable resource details an approach to commercial real estate investment in emerging markets and illustrates several strategies and analytical methods crucial to successful investment. Filled with in-depth insights and expert advice, Emerging Market Real Estate Investment focuses on investment themes and strategies as well as the economic, legal, and institutional environment of each country.

Opening with two informative chapters that provide an overview of the fundamentals of commercial and international real estate investment, this practical guide also includes in-depth country-specific chapters on China, India, and Brazil. These chapters contain:

• An examination of the economic, institutional, and political environment of each country

• A discussion of the main features of each real estate market, including real estate foreign direct investment (FDI)

• A review of the major real estate markets and submarkets in each country

• An analysis of the four or five primary real estate sectors in each country: office, retail, residential, industrial, and hotel where applicable

• A discussion of real estate investment options and strategies

Whether you're an institutional or private investor, the ability to achieve higher returns and portfolio diversification--while accessing a larger investment universe--is essential. Emerging Market Real Estate Investment will show you what it really takes to make this happen and put you in a better position to excel when investing in real estate abroad.

Author Biography

DAVID J. LYNN, PHD, is an institutional real estate investor, strategist, and portfolio manager with extensive experience in national and international markets. Currently, he is Managing Director, Head of the Research and Investment Strategy Group, and Generalist Portfolio Manager at ING Clarion Partners. In this capacity, he directs the firm's strategic and tactical investment decisions regarding investment portfolios. He is also a member of the Investment and Operating Committees, where he makes decisions on billions of dollars of new investments, portfolios, fund strategies, and dispositions. Lynn's theoretical work has yielded new approaches and analytical techniques in the areas of active portfolio management, market forecasting, financial distress, and emerging markets. He has published widely on the subjects of real estate investment, development, economics, and land use. Lynn has written or coauthored over seventy articles, internal investment and strategy papers, and three major books, including Active Private Equity Real Estate Strategy. He writes a highly regarded column called "Capital Trends" in National Real Estate Investor magazine and is frequently cited in the media for his views on the economy and the real estate industry. Lynn earned his PhD in financial economics from the London School of Economics, where he also earned a master of science specializing in finance. He holds an MBA from MIT's Sloan School of Management.

TIM WANG, PHD, is Senior Vice-President and Senior Investment Strategist with the Research and Investment Strategy Group at ING Clarion Partners. Dr. Wang joined ING Clarion Partners in 2006 and has authored more than fifty internal and external real estate investment strategy and market research articles and book chapters. He is a frequent speaker at industrial conferences. Tim holds an MBA from New York University and a PhD from the University of Georgia.