Active Private Equity Real Estate Strategy Published
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NEW YORK – The U.S. commercial real estate market is undergoing a major transition, driven by the collapse of the subprime borrowing market and the credit crisis, according to a new book by David Lynn, Ph.D., Managing Director and Head of the Research & Investment Strategy Group at ING Clarion, a major real estate investment firm.
In Active Private Equity Real Estate Strategy , Lynn provides a detailed analysis of the impact of the financial crisis on commercial real estate and offers guidance for developing strategies in an uncertain climate. Comprised primarily of market analyses, forecasts, and strategy papers from the ING Clarion Partners Research & Strategy group, the book provides a practical guide to understanding the impact of extraordinary events on a broad range of markets and property types including multi-family, hotel, industrial and land. It is written from the perspective of the active manager of institutional assets, and is designed for a broad range of readers including institutional investors, consultants, broker-dealers, traders and data providers.
Active Private Equity Real Estate Strategy is divided into two parts. In Part One, Dr. Lynn and his contributors set the stage for investors, offering analysis and commentary on the real estate markets, including sections on forecasting, the application of game theory and bid asked analysis to pricing, and a recession simulation. In Part Two, the authors provide a detailed discussion of active investment strategy for a variety of property types, including the application of Modern Portfolio Theory, scenario analysis, econometric forecasting, and the use of Derivatives. Here, they offer examples of portfolio construction and strategy selection from ING Clarion’s research.
Dr. Lynn notes that in spite of all the gloom, there is a bright side to the current crisis. As lenders pull back and underwriting standards are raised, speculative investments and constructions projects will be limited, reducing supply and creating conditions for future growth.
About the Author
Dr. Lynn brings more than 21 years of experience in the real estate industry to his role as head of research at ING Clarion and editor of Active Private Equity Real Estate Strategy .
He earned his Ph.D. in Financial Economics at the London School of Economics where he also received a Master of Science specializing in Finance. He received a Master of Business Administration (MBA) from the Sloan School of Management, MIT, where he specialized in Finance and Real Estate. In addition, Dr. Lynn holds a Masters in City and Regional Planning with an emphasis in Real Estate from Cornell University, and a B.A. in Architecture from the University of California at Berkeley. He serves on the Editorial Board of the Counselors of Real Estate and the Advisory Board of PREA.