Found of Real Estate Finance

3 Credits · Level: Graduate, Undergraduate

This introductory course provides students with the technical skills and business concepts of real estate finance. Mastering the basic and advanced concepts of real estate finance is essential to understanding other courses in the MPS curriculum, and to success in the real estate industry. Topics covered will include time value of money, discounted cash flow analysis, and investment returns. Through a case study format using an actual real estate investment as a guide, students will prepare a property-level pro forma to report both an unleveraged and leveraged returns analysis. In addition, the concepts of debt and equity (via a joint venture) will be included in the case study. The intended learning outcomes include a working financial model that students can use for future courses in the program. The primary text is Real Estate Finance & Investments: William B. Brueggeman and Jeffrey D. Fisher 15th edition; additional readings will supplement the book. Students will perform individual and group case study assignments to reinforce the intended learning outcomes.