Real Estate Investments

3 Credits · Level: Graduate

The Real Estate Investments course will prepare students for all aspects of making a leveraged income-producing real estate acquisition. Students will learn how to evaluate a project’s viability by learning how to perform a market analysis, create a detailed acquisition pro forma discounted cash flow, obtain and structure debt, hedge interest rate risk, raise and structure equity, equity returns and waterfalls, analyze various reversion options and perform basic tax analyses. Topics will include discounted cash flows, net present values, internal rates of return, acquisition and disposition sensitivity analyses and before- and after-tax cash flow analyses. Distressed debt and equity restructures will be introduced. The class structure will include lectures, back-of-the-envelope case studies, in-depth case studies, class discussion (participation required), readings, and guest speakers. Students will analyze actual, past and present investment and development opportunities.