Real Estate Law, 33:851:350
The Real Estate Law course provides an overview of the legal issues confronting the real estate executive from the commencement of a real estate transaction and throughout the relationship between the parties to such transactions. While many traditional real property law concepts will be covered, the course is intended as an introduction to the transactional aspects of the real estate business, including acquisition, disposition, development, investment, management, leasing, tax implications and negotiations. At the conclusion of the course, students will have the ability to function with respect to these matters in many of the various aspects of real estate business.
Essentials of Real Estate Finance, 33:851:380
This course provides the background and tools necessary to analyze value, risk, and return in commercial property markets. The initial emphasis of the course is on mortgage finance and applications; providing an overview of mortgage structure and mechanics in both residential and commercial markets. The focus then shifts to the evaluation of investment opportunities in property markets from the perspective of an institutional investor. Students will use lease and market information to develop pro forma cash flow projections for a given property and evaluate the associated risks and returns. Extensions include tax issues, the relationship between value, returns and leverage, partnership agreements and/or real options. The course also provides extensive training and certification in ARGUS, a real estate industry-standard software package used for entering and compiling lease information.
Real Estate Finance & Mortgage-Backed Securities, 33:390:435
The objective of this course is to provide students an in-depth exposure to both direct and indirect investment in real estate. The initial emphasis in the course is on mortgage finance in both the primary and secondary markets. Topics include the mortgage underwriting and origination process, pooling, and securitization of both residential and commercial loans. The focus then shifts to the evaluation of investment in property markets from the perspective of an institutional investor. Students will use lease and market information to develop pro forma cash flow projections for a given property and evaluate the associated risks and returns. Extensions include tax issues, the relationship between value, returns and leverage, partnership agreements and/or real options. The course also provides extensive training and certification in ARGUS, a real estate industry-standard software package used for entering and compiling lease information.
Real Estate Development, 33:851:432
This course provides an introduction and overview of real estate development of urban places, including the many challenges of the development process such as analyzing market sectors and development opportunities, comprehending the development context of regulation, public policy and politics, raising investment capital, assembling land, program formulation, building types, construction management, marketing, and sales. Examples of development projects will be presented, each focusing on particular aspects of the overall process.
Commercial Debt Markets, 33:851:470
Commercial Debt Markets provides an in-depth overview of both public and private sources of commercial debt financing for investment in real assets. The course includes an overview of the US mortgage finance system, agency and non-agency residential mortgage-backed securities, structured mortgage products such as collateralized mortgage obligations, collateralized debt obligations stripped securities, commercial mortgage-backed securities, and limited partnerships. Coursework involves basic fixed-income mathematics and cash flow modeling in Excel.