英语翻译

题目

英语翻译
The fundamental product of commercial real estate is provision of consumption/factor of production benefits to space users over time.To secure temporary property control rights,third parties (lessees) commonly enter into long-term contracts with property owners (lessors).The contract and fixed payment stream promised in return for gaining temporary control rights are commonly known as a lease and a rate of lease payment,respectively.As such,space-time consumption and leasing are the micro-foundations of commercial real estate.Given their relative importance,little is known (for example) about the institution of leasing,its impact on asset risk and return,or why certain lease maturities are commonly observed.Indeed,we would argue that a thorough understanding of real estate cycles,determinants of real estate performance or the determinants of asset financing is impossible until more is understood about the microfoundations of commercial real estate.This paper attempts to shed s

答案

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