An Introduction to Real Estate Finance, Second Edition presents a broad view of real estate finance, from the individual property operating level to the macro economic trends that affect global real estate capital markets. Readers learn about the structure and organization of the real estate industry and acquire the skills to analyse a property. With extensive learning tools for students and teachers, the Second Edition assumes that readers are familiar with basic financial accounting and finance principles, such as the time value of money and the calculation of internal rate of return. This easy-to-access primer on real estate finance develops in readers the ability to think about real estate in a rigorous way, from a finance perspective.