An integrated analytical framework : guidelines for commercial real estate investment management

This thesis introduces an Integrated Analytical Framework that provides guidelines on mapping the analysis structure and reporting essentials for the commercial real estate ("CRE") investment with coverage from Acquisition Management, Development Management, Asset Management to Divestment. The motivation of this thesis responds to the need that small-scale Private Equity Real Estate ("PERE") firms have for efficient, comprehensive, and streamlined tools to manage investment assets. There are two purposes of this thesis. First, it is to introduce an analytical framework, integrating the entire lifecycle of a commercial real estate investment. From a quantitative analytical perspective, the framework introduces Key Performance Indicators that CRE investors should rely on to understand the expected performance of their investments. Second, it is to help CRE investors achieve analytical efficiency. A model template, in Microsoft Excel, is developed here to translate the framework into a practical tool. This thesis serves as a practical manual for small-scale PERE firms and real estate entrepreneurs who have limited resources and possess strong desires for a streamlined but comprehensive analytical tool to fulfill their investment management demands. This thesis focuses on both asset-level and portfolio-level investment analyses. While the asset-level perspective intends to be micro-level analysis and emphasizes the detail of every aspect of the asset, the portfolio-level analysis consolidates the asset fundamentals and provides a bird's-eye view of the entire investment lifecycle. This thesis contains a supplemental Excel file The Integrated Analytical Framework Model Template that can be obtained from DSpace@MIT with the persistent identifier: https://hdl.handle.net/1721.1/126014.

Name thesis:degree_name

Master

Department dc:contributor.department

Massachusetts Institute of Technology. Center for Real Estate

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2020

Author dc:creator

• Zhang, Junyi,S.M.Massachusetts Institute of Technology.

Advisor dc:contributor.advisor

• Walter N. Torous.

• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• MIT theses may be protected by copyright. Please reuse MIT thesis content according to the MIT Libraries Permissions Policy, which is available through the URL provided.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

https://hdl.handle.net/1721.1/129096

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/129096