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Real Estate Finance and Investment - Lecture Notes

The document outlines the topics covered in a real estate finance lecture series over 27 class sessions. The lectures include introductions to key concepts like discounted cash flow analysis, net present value, leverage, and after-tax investment analysis. Later sessions cover commercial mortgage underwriting, development project evaluation, and capital structure. Case studies are assigned throughout to apply the concepts, and sessions are devoted to discussing the cases. The final exam covers material from throughout the course with emphasis on specific lessons.

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983 views2 pages

Real Estate Finance and Investment - Lecture Notes

The document outlines the topics covered in a real estate finance lecture series over 27 class sessions. The lectures include introductions to key concepts like discounted cash flow analysis, net present value, leverage, and after-tax investment analysis. Later sessions cover commercial mortgage underwriting, development project evaluation, and capital structure. Case studies are assigned throughout to apply the concepts, and sessions are devoted to discussing the cases. The final exam covers material from throughout the course with emphasis on specific lessons.

Uploaded by

CoursePin
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Lecture Notes

Some of the lecture notes span more than one class session; they are included in the first session only. SES # TOPICS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Course introduction (Geltner) (PDF) DCF (McGrath) (PDF) DCF (cont.) and NPV (McGrath) NPV (Geltner) Real estate cash flows, proformas (McGrath) (PDF) Real estate opportunity cost of capital (McGrath) Leverage (McGrath) (PDF) Case 1: Private practice case I due (McGrath) WACC formula (McGrath) After-tax cash flows (McGrath) After-tax investment analysis and capital budgeting (Geltner) (PDF) Commercial mortgage underwriting (Geltner) (PDF) Case 2: Private practice case II due (McGrath) (PDF) Exam 1 (Chapters 10-13, 14.1-5) Development financial feasibility (Geltner) (PDF) Development project evaluation (Geltner) (PDF)

SES # TOPICS 17 Intro case 3, madison project example (Geltner) Madison example (cont.) 18 Finish development project investment analysis (Geltner) Case 3: One Lincoln St case I (development) due (McGrath) Lincoln (post) and Inter-Mountain (pre) case discussions (Geltner) Capital structure debt vs equity, etc. (Geltner) (PDF) Project level capital structure (Geltner) Real options and land value (Geltner) (PDF) Real options and land value (cont.) (Geltner) Case 4: "Inter-Mountain" development project case (Larry Ellman, Citigroup) guest participant Case 4 debriefing; review and catch up (Geltner) Real options (cont.) review, catch up (Geltner) Final exam (Cumulative with emphasis on 17.1, 18.2, 15.3, 27, 28, 29.1 and 29.3, and lessons from Cases 3 and 4)

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