FINANCE 898 - Introduction to Real Estate Finance and Investments

Course Description

This course will consist of 50% Real Estate financial analysis, 30% Real Estate Capital Markets and 20% investments. The course should be of interest for students interested in real estate investment, real estate finance, real estate development, fixed-income investments, and the recent global financial crisis.

Real Estate Finance and Analysis
The course will begin with an introduction to the fundamentals of Real Estate valuation and risk analysis including a consideration of the elements of mortgage financing, raising equity and taxation as well as the mechanics of commercial real estate leasing. The asset types we will consider include office buildings, apartments, residential single family, and retail.

Real Estate Capital Markets
We will consider the operation of the U.S. mortgage and structured finance markets and study how these markets interact with the broader economy, particularly the banking sector and main street. The course covers both technical topics (e.g. valuing complex structured securities), and applied topics (such as the connection between securitization and the global financial crisis).

Real Estate Investments
How does commercial real estate fit within a balanced investment portfolio.  What are the unique risk and return aspects of individual assets and a portfolio of real estate assets.  How do these real estate assets compare and contrast with traditional equity, fixed income and alternative assets in direct comparison and within a portfolio context.