H. Kent Baker is a University Professor of Finance at the Kogod School of Business, American University. He has published 17 books and more than 150 refereed journal articles and is recognized as one of the most prolific finance academics. Professor Baker also has consulting and training experience with more than 100 organizations.Peter Chinloy is a Professor of Finance and Real Estate at the Kogod School of Business, American University. His research interests are in real estate equity and mortgage securitization. He is a member of the editorial boards of the three leading real estate journals and has taught at Cornell, Santa Clara, and the University of Southern California.

"Public Real Estate Markets and Investments provides an extensive collection of essays covering a range of topics pertinent to investors seeking portfolio diversification through debt and equity investments in real property. Thus, the book is well positioned to provide advanced undergraduate and graduate students as well as industry professionals with insights into the importance of public real estate investment for the economy." -- Brent W. Ambrose, Smeal Professor of Real Estate and Director of the Institute for Real Estate Studies, The Smeal College of Business, The Pennsylvania State University

• Acknowledgments ; About the Editors ; About the Contributors ; PART 1 FOUNDATIONS OF PUBLIC REAL ESTATE ; 1. Public Real Estate Markets and Investments: An Overview ; H. Kent Baker and Peter Chinloy ; 2. Diversification Benefits of Real Estate ; Brad Case ; 3. International Real Estate Markets ; K. W. Chau, S. K. Wong, and C. Y. Yiu ; 4. Strategy: Seeking Alpha Opportunities and Managing Risks in Global Markets ; Stephen E. Roulac ; PART 2 PUBLIC DEBT MARKETS AND INVESTMENTS ; 5. Mortgage Markets: The United States ; Eric S. Belsky ; 6. Mortgage Markets: International ; Kyung-Hwan Kim and Man Cho ; 7. Development of the Market for Mortgage-Backed Securities ; Stephen A. Buser and John J. McConnell ; 8. Prepayment and Default Risk ; Stephen L. Buschbom, James B. Kau, and Donald C. Keenan ; 9. Commercial Mortgages and Commercial Mortgage-Backed Securities ; Xudong An and Kerry D. Vandell ; 10. The Subprime Mortgage Crisis ; Anthony B. Sanders ; PART 3 PUBLIC EQUITY MARKETS AND INVESTMENTS ; 11. REITs: Structure and Performance ; Walter I. Boudry and Jarl G. Kallberg ; 12. REITs: International Dimensions ; Ehsan Nikbakht, Garrett Smith, and Andrew Spieler ; 13. REITs: Capital Structure ; Zhonghua Wu ; 14. Real Estate Operating Companies ; Peter Zabierek ; Answers to Discussion Questions ; Index

H. Kent Baker is a University Professor of Finance at the Kogod School of Business, American University. He has published 17 books and more than 150 refereed journal articles and is recognized as one of the most prolific finance academics. Professor Baker also has consulting and training experience with more than 100 organizations.Peter Chinloy is a Professor of Finance and Real Estate at the Kogod School of Business, American University. His research interests are in real estate equity and mortgage securitization. He is a member of the editorial boards of the three leading real estate journals and has taught at Cornell, Santa Clara, and the University of Southern California.

"Public Real Estate Markets and Investments provides an extensive collection of essays covering a range of topics pertinent to investors seeking portfolio diversification through debt and equity investments in real property. Thus, the book is well positioned to provide advanced undergraduate and graduate students as well as industry professionals with insights into the importance of public real estate investment for the economy." -- Brent W. Ambrose, Smeal Professor of Real Estate and Director of the Institute for Real Estate Studies, The Smeal College of Business, The Pennsylvania State University

• Acknowledgments ; About the Editors ; About the Contributors ; PART 1 FOUNDATIONS OF PUBLIC REAL ESTATE ; 1. Public Real Estate Markets and Investments: An Overview ; H. Kent Baker and Peter Chinloy ; 2. Diversification Benefits of Real Estate ; Brad Case ; 3. International Real Estate Markets ; K. W. Chau, S. K. Wong, and C. Y. Yiu ; 4. Strategy: Seeking Alpha Opportunities and Managing Risks in Global Markets ; Stephen E. Roulac ; PART 2 PUBLIC DEBT MARKETS AND INVESTMENTS ; 5. Mortgage Markets: The United States ; Eric S. Belsky ; 6. Mortgage Markets: International ; Kyung-Hwan Kim and Man Cho ; 7. Development of the Market for Mortgage-Backed Securities ; Stephen A. Buser and John J. McConnell ; 8. Prepayment and Default Risk ; Stephen L. Buschbom, James B. Kau, and Donald C. Keenan ; 9. Commercial Mortgages and Commercial Mortgage-Backed Securities ; Xudong An and Kerry D. Vandell ; 10. The Subprime Mortgage Crisis ; Anthony B. Sanders ; PART 3 PUBLIC EQUITY MARKETS AND INVESTMENTS ; 11. REITs: Structure and Performance ; Walter I. Boudry and Jarl G. Kallberg ; 12. REITs: International Dimensions ; Ehsan Nikbakht, Garrett Smith, and Andrew Spieler ; 13. REITs: Capital Structure ; Zhonghua Wu ; 14. Real Estate Operating Companies ; Peter Zabierek ; Answers to Discussion Questions ; Index

H. Kent Baker is a University Professor of Finance at the Kogod School of Business, American University. He has published 17 books and more than 150 refereed journal articles and is recognized as one of the most prolific finance academics. Professor Baker also has consulting and training experience with more than 100 organizations.Peter Chinloy is a Professor of Finance and Real Estate at the Kogod School of Business, American University. His research interests are in real estate equity and mortgage securitization. He is a member of the editorial boards of the three leading real estate journals and has taught at Cornell, Santa Clara, and the University of Southern California.

"Public Real Estate Markets and Investments provides an extensive collection of essays covering a range of topics pertinent to investors seeking portfolio diversification through debt and equity investments in real property. Thus, the book is well positioned to provide advanced undergraduate and graduate students as well as industry professionals with insights into the importance of public real estate investment for the economy." -- Brent W. Ambrose, Smeal Professor of Real Estate and Director of the Institute for Real Estate Studies, The Smeal College of Business, The Pennsylvania State University

• Acknowledgments ; About the Editors ; About the Contributors ; PART 1 FOUNDATIONS OF PUBLIC REAL ESTATE ; 1. Public Real Estate Markets and Investments: An Overview ; H. Kent Baker and Peter Chinloy ; 2. Diversification Benefits of Real Estate ; Brad Case ; 3. International Real Estate Markets ; K. W. Chau, S. K. Wong, and C. Y. Yiu ; 4. Strategy: Seeking Alpha Opportunities and Managing Risks in Global Markets ; Stephen E. Roulac ; PART 2 PUBLIC DEBT MARKETS AND INVESTMENTS ; 5. Mortgage Markets: The United States ; Eric S. Belsky ; 6. Mortgage Markets: International ; Kyung-Hwan Kim and Man Cho ; 7. Development of the Market for Mortgage-Backed Securities ; Stephen A. Buser and John J. McConnell ; 8. Prepayment and Default Risk ; Stephen L. Buschbom, James B. Kau, and Donald C. Keenan ; 9. Commercial Mortgages and Commercial Mortgage-Backed Securities ; Xudong An and Kerry D. Vandell ; 10. The Subprime Mortgage Crisis ; Anthony B. Sanders ; PART 3 PUBLIC EQUITY MARKETS AND INVESTMENTS ; 11. REITs: Structure and Performance ; Walter I. Boudry and Jarl G. Kallberg ; 12. REITs: International Dimensions ; Ehsan Nikbakht, Garrett Smith, and Andrew Spieler ; 13. REITs: Capital Structure ; Zhonghua Wu ; 14. Real Estate Operating Companies ; Peter Zabierek ; Answers to Discussion Questions ; Index