Streamlined and completely updated with expanded coverage of corporate and international real estate investment, this upper-level real estate text presents the essential concepts, principles, and tools necessary to analyze income-producing commercial real estate from an investment perspective. This new edition continues to integrate relevant aspects of urban and financial economics to provide users with a fundamental analytical understanding and application of real estate investments—now using a student version of ARGUS(R) software on CD included with the book. ARGUS(R) software is a Windows-based program used extensively in the real estate investment industry to solve complex investment and valuation problems. Also included on the CD is a student version of Crystal Ball(R), professional-grade software used to perform risk analysis on commercial investments. Author Piet Eichholtz contributes a chapter that explores international real estate investments, both opportunistically and structurally, by outlining elements for developing and implementing real estate investments successfully abroad. Jim Clayton from the University of Cincinnati thoroughly revised and updated the finance coverage and end-of-chapter questions throughout.