Construction Funding: The Process of Real Estate Development, Appraisal, and Finance

ISBN-13: 9780470037317 / Angielski / Twarda / 2007 / 544 str.

Nathan S. Collier; Courtland A. Collier; Don A. Halperin

Opis

The Fourth Edition of the classic Construction Funding acquaints professionals and students alike with the critical tools needed for developing any successful real estate venture. Using a case example of an actual apartment development, Construction Funding walks the reader through each phase of the project, offering invaluable guidance on selecting markets, rating sites, choosing construction professionals, raising capital, understanding financing options, and mastering cash flow management.

Spis treści

Preface.

Foreword.

Acknowledgments.

I BACKGROUND.

1 Characteristics of Real Estate.

2 Different Types of Business Organizations.

3 Negotiation.

II THE DEVELOPEMENT PROCESS START TO FINISH.

4 The Development Process: An Overview.

5 Market Studies, Site Feasibility Analysis, and Selection.

6 Creating the Project Pro Forma.

7 The Appraisal.

8 Sources of Financing, the Loan Application Process, and Term Sheets.

9 The Commitment.

10 Closing the Loan: The Note, Mortgage, Construction Loan Agreement, and Unconditional Guaranty.

III EVOLUTION OF THE DEVELOPMENT PROCESS.

11 Joint Ventures.

12 Condominiums and Condominium Conversions.

IV CASH FORECASTS AND THE TIME VALUE OF MONEY.

13 How to Forecast Cash Needs During Construction.

14 Basic How–to–Do–It Time Value of Money Calculations.

APPENDIX A.

APPENDIX B.

APPENDIX C.

APPENDIX D Interest Tables.

APPENDIX E End–of–Chapter Answers to Questions.

Index.

O autorze

Nathan S. Collier is the founder and owner of The Collier Companies, a Florida–based firm that develops, owns, and manages close to 9,000 apartments in thirty–four communities. He has endowed the Nathan S. Collier Master′s in Real Estate program at the University of Florida, and is a registered real estate broker, a licensed building contractor, a Certified Public Accountant, and a member of the Florida Bar.

Courtland A. Collier, PE, is Associate Professor Emeritus, Civil Engineering, at the University of Florida.

Don A. Halperin, FAIG, is Director Emeritus, School of Building Construction, at the University of Florida.

Blurb

The most complete and comprehensive source on financing real estate development now revised, updated, and expanded

The Fourth Edition of the classic Construction Funding acquaints professionals and students alike with the critical tools needed for developing any successful real estate venture. Using a case example of an actual apartment development, Construction Funding walks the reader through each phase of the project, offering invaluable guidance on selecting markets, rating sites, choosing construction professionals, raising capital, understanding financing options, and mastering cash flow management.

It covers essential topics such as creating a pro forma, understanding an appraisal, and navigating a loan application. There are many new learning features and updates included, such as:

• Joint ventures

• Condominiums and condo conversions

• Key terms and their definitions

• Chapter summaries and learning objectives

• End–of–chapter review questions

• Complete reference section for additional information

• Up–to–date costs and funding methods

Written by authors with broad experience in the construction and real estate industries, Construction Funding provides a concise, yet thorough guide for graduate and undergraduate students studying real estate. It also gives professional developers, planners, contractors, and other construction professionals an invaluable reference that broadens their understanding of every development project.