Fundamentals of Real Estate Development

2 Credits

Introduces students to the commercial real estate development process. Variables as to the type of development project sought (office, retail, multi-family, etc.), the end user (owner-occupied or lease-up), and the desired holding period (develop-stabilize-sell or long-term asset), design, construction methods, materials, cost estimating and budgeting (to name just a few of the variables) are examined. Return requirements, development financing, and the timing and type of cash flows during different phases of development are examined, relative to the impact on the project's overall IRR.