Real Estate Primary Markets

(3 Credits)

This course is designed for students who have little or no prior knowledge of real estate Different aspects of real estate analysis are covered including finance taxation appraisal investment analysis development and property management A central focus is on the risk and return elements in commercial real estate financing and on how to modify the principles of corporate finance and investment theory to fit the specialized needs of real estate analysis Topics include liquidity problems buyer or seller informational asymmetries and interrelatedness of financing and investment decisions The growing role of international considerations the importance of securitized instruments and the changing roles of brokers are considered