Overview

In HOW TO INVEST IN COMMERCIAL REAL ESTATE, authors Dowell and Stachenfeld have created the ultimate guide for anyone who would like to invest in the real estate asset class but doesn't quite know where to start. In an easy-to-read format, all aspects of commercial real estate investment are clearly and entertainingly described, including more complex deal structures. But this book isn't just for beginning investors. Even seasoned professionals will benefit from reading it, especially from the authors' insights into the more intricate elements of the market. The authors, a commercial real estate investor and a commercial real estate attorney, have over seventy years combined of invaluable experience with commercial real estate. Their love for their subject is palpable, and they pass along their passion and enthusiasm to the reader. Because the real estate market is viable and changeable, this guide includes a final chapter addressing current trends and the authors' predictions for the future. The three sections begin with an outline of real estate basics, followed by a deeper analysis of practical applications. Section three presents conclusions and commentary on the state (and the future) of the market. So whether you are taking those first steps into commercial real estate investment or want to upgrade your expertise, HOW TO INVEST IN COMMERCIAL REAL ESTATE will prove to be a much needed and frequently referenced resource.

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9781632261403

Table of Contents

Reviews

"“A highly engaging and informative book. A great primer for anyone entering into commercial real estate.""—Adam Schwartz, Co-CEO, Angelo Gordon “How to Invest manages to make the complex world of commercial real estate understandable and is an excellent resource for professionals entering into the field. From an analysis of the nuances of different asset classes, to underwriting best practices and joint venture mechanics, to the practical application of leverage and financing, David and Bruce have put together an accessible and comprehensive guidebook to the industry.”—Philippe Visser, President, Related Office “The title of this book does not do justice to the amount of practical information contained in it. This is a fantastic resource not just for those who ‘know nothing about commercial real estate’ but for many people already in the industry. David and Bruce do a terrific job covering a tremendous breath of industry topics and do so in a succinct, direct, and friendly manner. There is valuable information for everyone, from the neophyte up to the seasoned professional.”—Jason Hernandez, Managing Director, Head of Debt Originations, Nuveen “Who needs a real estate MBA when you can read How To Invest In Real Estate If You Know Nothing About Real Estate; David and Bruce distilled the art of real estate investing into a thoughtful, practical and humorous textbook. A copy should be on every real estate investor's desk.”—Andrew Jacobs, Chief Investment Officer, BentallGreenOak “If the recent turbulence in the real estate market has reaffirmed anything, it’s that having the forethought to prepare for exigent market shocks is critical when making effective investment decisions. This is particularly true for an investment into an asset class as potentially illiquid as real estate. Selecting the right asset, conducting an appropriate amount of due diligence, and structuring the appropriate agreements with suitable counterparties are essential to protect an investor’s downside. Bruce and David hammer home that message home while offering a tremendous lesson in prudent commercial real estate investing. This is an important read for the kind of real estate investor who desires to mitigate risk as much as well as reap returns.”—Thomas Arnold, Former Global Head of Real Estate, ADIA “How to Invest is not just for Real Estate investors but is a must read for anyone whose business or clients operate in or around commercial real estate. The book is straightforward, easy to read, and offers fantastic insight into a complicated industry.”—Scott Winter, Co-Chair of Innisfree M&A Inc. “My suggestion—read this book early in your career. The information is extensive, the presentation is easy to access and the knowledge you will quickly gain will help put subsequent classwork, readings, and professional experiences into much better context.”—Lee Harris, President & CEO, Cohen-Esrey “Bruce has been a friend, mentor, and valuable resource for me throughout my career, and is always available to help think through complex legal issues balanced with practical, experienced based advice. He has built a great firm with a reputation for excellence, and I would strongly recommend anyone who is looking to build a strong foundation in the basics of commercial real estate to read this book and keep it on your shelf for easy reference. Bruce and David have done a laudable job here. I highly recommend.”—Jason Barnett, Vice Chairman; Chief Legal Officer, RXR"

“A highly engaging and informative book. A great primer for anyone entering into commercial real estate.""—Adam Schwartz, Co-CEO, Angelo Gordon “How to Invest manages to make the complex world of commercial real estate understandable and is an excellent resource for professionals entering into the field. From an analysis of the nuances of different asset classes, to underwriting best practices and joint venture mechanics, to the practical application of leverage and financing, David and Bruce have put together an accessible and comprehensive guidebook to the industry.”—Philippe Visser, President, Related Office “The title of this book does not do justice to the amount of practical information contained in it. This is a fantastic resource not just for those who ‘know nothing about commercial real estate’ but for many people already in the industry. David and Bruce do a terrific job covering a tremendous breath of industry topics and do so in a succinct, direct, and friendly manner. There is valuable information for everyone, from the neophyte up to the seasoned professional.”—Jason Hernandez, Managing Director, Head of Debt Originations, Nuveen “Who needs a real estate MBA when you can read How To Invest In Real Estate If You Know Nothing About Real Estate; David and Bruce distilled the art of real estate investing into a thoughtful, practical and humorous textbook. A copy should be on every real estate investor's desk.”—Andrew Jacobs, Chief Investment Officer, BentallGreenOak “If the recent turbulence in the real estate market has reaffirmed anything, it’s that having the forethought to prepare for exigent market shocks is critical when making effective investment decisions. This is particularly true for an investment into an asset class as potentially illiquid as real estate. Selecting the right asset, conducting an appropriate amount of due diligence, and structuring the appropriate agreements with suitable counterparties are essential to protect an investor’s downside. Bruce and David hammer home that message home while offering a tremendous lesson in prudent commercial real estate investing. This is an important read for the kind of real estate investor who desires to mitigate risk as much as well as reap returns.”—Thomas Arnold, Former Global Head of Real Estate, ADIA “How to Invest is not just for Real Estate investors but is a must read for anyone whose business or clients operate in or around commercial real estate. The book is straightforward, easy to read, and offers fantastic insight into a complicated industry.”—Scott Winter, Co-Chair of Innisfree M&A Inc. “My suggestion—read this book early in your career. The information is extensive, the presentation is easy to access and the knowledge you will quickly gain will help put subsequent classwork, readings, and professional experiences into much better context.”—Lee Harris, President & CEO, Cohen-Esrey “Bruce has been a friend, mentor, and valuable resource for me throughout my career, and is always available to help think through complex legal issues balanced with practical, experienced based advice. He has built a great firm with a reputation for excellence, and I would strongly recommend anyone who is looking to build a strong foundation in the basics of commercial real estate to read this book and keep it on your shelf for easy reference. Bruce and David have done a laudable job here. I highly recommend.”—Jason Barnett, Vice Chairman; Chief Legal Officer, RXR

Author Information

David A. Dowell is a 20- plus-year veteran of the Commercial Real Estate industry and has held senior investment positions with a variety of large private equity and institutional investors. Over his career he has led the acquisitions, asset management and dispositions of over $5 billion of commercial real estate across the U.S. and U.K., and has built out several institutional investment platforms focusing on value add and opportunistic transactions. David is the founder and managing principal of Arliga Capital Advisors, a real estate advisory firm focused on providing strategic commercial real estate investment and asset management services to family offices and institutions for whom commercial real estate is not their core competency. Bruce M. Stachenfeld is a creative thinker, visionary and thought leader—all of this within the real estate industry - and is the founder and chairman of one of the top real estate law practices in the world, Adler & Stachenfeld LLP. Over his career, Bruce has worked on transactions worth tens of billions of dollars in New York City, throughout the US, and in many international markets as well. Bruce is one of the most prodigious real estate rainmakers in the brutally competitive New York City market and is respected as one of the top real estate lawyers in NYC. He is also a marketing guru, speaker, mentor, business advisor, and consultant as well as the author of The Real Estate Philosopher’s® Guide, and If You Want to Get Rich, Build a Power Niche.  

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