The Dynamics of Real Estate Capital Markets-A Practioner's Perspective

By Palmer, Brent A. | Real Estate Issues, Spring 2007 | Go to article overview
Save to active project

The Dynamics of Real Estate Capital Markets-A Practioner's Perspective

Palmer, Brent A., Real Estate Issues

RECOMMENDED READING The Dynamics of Real Estate Capital Markets-A Practioner's Perspective By Bowen H. "Buzz" McCoy (2006, Urban Land Institute, Washington, D.C., 262 pages)

THIS UNIQUELY ORGANIZED TEXT comprises 36 of Bowen H. "Buzz" McCoy's articles and symposia summaries. McCoy is a "real estate icon" of the 20th century, according to National Real Estate Investor magazine, and this compilation of works provides tremendous insight into the evolution of transaction structure, market dynamics and analytical trends through the past 35 years.

During this time period, significant and critical changes occurred with regard to perception, perspective and practice for participants, counselors and investors as commercial real estate transformed into the much more transparent, liquid and sought-after asset class that it is today. And McCoy was one of the catalysts of this evolution. He worked at Morgan Stanley & Co. from 1962 to 1990 and held the roles of general partner, managing director and president of Morgan Stanley Realty. McCoy is "a pioneer and a legend in commercial real estate circles ... one of the first people to bring Wall Street's mind-set into real estate," the Brookings Institution's Anthony Downs writes in the forward.

The first part of the book-An Overview and Thoughts on the Future-not only summarizes McCoy's extensive real estate experience, but also offers a detailed abstract of each article followed by his personal observations about the fundamental values essential to being a committed and successful practitioner.

Part two contains four articles focusing on the capital markets' evolving integration of real estate during the 1970s and 1980s, and the 15 articles comprising part three address the complex period of globalization in real estate markets concurrent with the turmoil and restructuring that affected the U.S. real estate capital markets in the 1990s. This section also highlights the progression of valuation methodologies, pricing and investment structure, and investment analysis. Part four, which contains nine articles, covers the years 2000-2005 and examines the issues of investment uncertainty, disconnected markets, demands for enhanced transparency and unrestrained capital flow.

Following the decade-by-decade story of real estate capital markets covered in parts two through four; the author provides eight articles in the concluding fifth part that discuss values-based leadership. This last series of writings is timely and thought-provoking, covering several topics-including assessment of personal responsibility and character, public and private trust, global business ethics and social obligations-that are particularly applicable and essential to real estate practitioners today.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Cite this article

Cited article

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

The Dynamics of Real Estate Capital Markets-A Practioner's Perspective


Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?