Multifamily Invest and Dev

3 Credits · Level: Graduate

Multifamily Value-Add Investment and Development is a course designed to explain and explore how to source, develop, and execute value-added investing in multifamily real estate. This course will teach students the nuts and bolts of what it takes to successfully acquire, develop, and stabilize a multifamily property with a value-add strategy to create lucrative, risk-adjusted returns. Using the Washington DC metropolitan region as a backdrop, students will initially learn about the offering memorandum (OM), using the information it contains to develop a value-add strategy and create an accurate Sources & Uses statement and proforma model. The course will discuss the mindset, approach, and different creative avenues possible in creating value when purchasing multifamily properties. This course will also include a discussion of the different nuances needed to navigate the DC regulatory landscape controlling multifamily properties, such as rent control and the Tenant Opportunity to Purchase Act (TOPA). The class structure will include lectures, in-depth case studies, back-of-the-envelope proforma analysis, debt and equity structures, class discussions (participation required), readings, and guest speakers. Students will analyze actual, past, and present investment opportunities.