Real Estate Development Process: Part I
Real estate development is a complex, always evolving business requiring interaction among multiple disciplines. To develop, finance, or supervise a project effectively requires a basic understanding of the process and its many facets. Read more » The course introduces, to public and private sector participants, the principles and concepts of real estate development. Emphasizing the iterative and interactive nature of the real estate development process, the course chronologically follows the various stages of the process and discusses how each team member’s actions and performance affects the success and profitability of the project. Employing a lecture/case study approach, top industry professionals, drawn from ULI’s membership, serve as course leaders and guest speakers, sharing their insights, experience, and expertise with participants. The course is structured in three parts: 1) preliminary considerations, market analysis, product identification and pricing, financial analysis, market strategy; 2) land development, site selection, acquisition, negotiating and deal structure, documentation, due diligence, acquisition financing, entitlements and permitting; and 3) site and vertical development planning and design, development financing, infrastructure and vertical construction, risk management, sales and leasing, asset management, compliance and governance, turnover and disposition. |
Real Estate Finance I
Get the conceptual foundations of cash flow analysis and understand the role of property markets and capital markets in commercial property valuation and analysis. While addressing equity capital sources, the course focuses more directly on debt capital and understanding debt underwriting, sources, and deal structures. |
Real Estate Development Process: Part II
Enhance your real estate development skills by engaging in challenging case studies and interaction with other class members. You will work in teams on several realistic case studies representing different stages of real estate development, acquisition, entitlement, and full-scale development, giving you practical experience at each stage. |
Real Estate Finance II
Gain a thorough understanding of commercial real estate capital markets and their impact on commercial property values. The course introduces the time-value-of-money concept and incorporates it into the analytical process, examining the impact of mortgage debt on property investments and cash flow. Going further the course will also focus more directly on equity investors. |
Advanced Development Process: Commercial
This course presents a detailed look at commercial development and redevelopment, with an emphasis on office buildings. Participants will have the opportunity to learn about successful projects that found a niche market, and the process their developers went through from conception to completion.
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Advanced Real Estate Finance: A Case-Based Analysis of Deal Structure and Risk Allocation
This capstone course in real estate finance will engage students in a series of case studies that will challenge them to determine the optimal deal structure under particular scenarios. The course will introduce complex real estate finance topics, including real estate as an asset class, using property return indices, the effect of income taxation on deal structure, complex income streams, and the implications of the return waterfall In-depth exposure to the capital market will illustrate the vital link between the space, capital, and development segments of the market in the development process. Case studies also will introduce the complex analytical techniques required for portfolio analysis and asset allocation. Guest speakers from both the debt and equity side will provide real-world examples of current deals. |