David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Real Estate Investment Analysis

What is this course about? Real – Estate – Investment – Analysis –

We’ll study…

Alternative Definition:

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Space and Asset Markets

What are Markets?

Space (Rental) Market – Demanders: Suppliers:

Notes:• •

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Space Market Characteristics

Demand:

Supply:

Notes:

Notes:

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Space Market Equilibrium

In Equilibrium:

Conclusions:

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Real Estate Is About Space

Typical Sizes of Various Property Types

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Land

What Determines Land Values?

Greenfield –

Brownfield –

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Retail

Strip Centers

Anchors -

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Retail, cont.

Community Retail (Lifestyle) Center

Power Center

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Retail, cont.

Regional Malls

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: W & I Properties

Light Industrial/Office Flex Building

Bulk Warehouses “Clear Height”

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Offices

CBD Office Space

Class A Class B Class C

Suburban Office Buildings

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Multifamily

Highrise Multifamily

Midrise Multifamily

Garden Apartments

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Hotels/Lodging

Hotels

Motels

Resorts

David M. Harrison, Ph.D.Texas Tech University Real Estate Investments

Property Types: Specialty

Healthcare Senior Centers/Assisted Living

Churches

Educational Facilities

Others