HSE Publishing House

The book is the first textbook to real estate leasing. It elaborates on the theory and practice of thisfinancial instrument, its essence, a prerequisite for development in Russia, the motivation of the parties. Examined options for structuring transactions in various economic and legal models (financial leasing,lease-back, operational leasing, subleasing, leveraged leasing, leasing in project finance), features oftheir application. Innovation is the exploration of different models of pricing real estate leasing. Seemethodology for calculating payments, compare credit and leasing to purchasing the property, the resultsof an empirical analysis of the effect on the contract price of the advances, the timing of contracts,leasing per cent. For the first time investigated asset securitisation of real estate leasing. Revisedstereotypes holding securitisation. Measured by the ratings dynamics of bonds. Detailed experiencereal estate sale and lease-back, its capacity to adapt Russian practice. Provides the most complete statistics on domestic and foreign markets real estate leasing in 1986–2015, on transactions carried out in Russia, Italy, France, Germany, Great Britain, United States. The book takes into account the programme of leading universities in the United States and England,in which real estate leasing is one of the branches of academic courses in the programs “Real Estate”in the preparation of bachelors, masters and doctors of Sciences, real estate, and where to readspecial courses, including “Commercial Real Estate Leasing”, and leasing subject is revealed throughcourses in “Financial Analysis”, “Corporate Finance”, “Risk Management”, etc. So the book can be useful for graduate students, faculty, academic staff, as well as specialists ofleasing companies, banks, insurance, investment companies.