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FIN7527 Real Estate Financial Modeling
3 Elective CreditsThis course will address the practical and theoretical issues involved in estimating cash flows and values of a wide variety real property, financial interests, investment interests and deal structures using discounted cash flow (DCF) techniques and sensitivity analyses. Students will solve real estate cash flow and DCF problems using models for property, portfolio, debt and equity interests for a variety of commercial real estate property types. Students will detailed modeling applications necessary to estimate both cash flows and values in the world of real estate finance and capital markets. Students will use and learn both Excel and industry standard software applications in the process of modelling lease by lease cash flows at the property level, portfolio cash flow consolidations, related debt structures, including first mortgage and mezzanine debt, and equity waterfall structures. This course includes explanation of the theoretical issues and concepts involved in these practical applications. This course is intended for students who have an interest in real estate or who desire to expand their knowledge of finance to include real estate.
Prerequisites: FIN7200 or FIN7800 or students enrolled in MSF
FIN7565 Real Estate Investments
(Formerly Real Estate Investment Fundamentals)
3 Elective Credits
This course provides in depth coverage of real estate investing and investment decision making for income producing properties. Topics include valuation, financing, capital markets, development and operations of income-producing real property and issues surrounding the ownership, financing and regulation of real estate. Through readings, lectures and case studies, we will explore how investors identify projects, determine value, design marketing strategies, and obtain financing in the debt and equity markets. This course will include an introduction to the value creation process of real estate development. The course will cover how investors evaluate and finance development projects. Topics include the unique debt and equity financing considerations for both income producing rental properties and for sale condominium projects. The course will also cover Real Estate Investment Trusts (REIT's) as an investment vehicle.
The course will use lecture materials, case studies and an example property to illustrate key real estate investment concepts for both investing in existing properties and for developing properties.
This course is typically offered in the following semesters: Fall and Spring
Prerequisites: FIN7200 or FIN7800
FIN7566 Real Estate Transactions
3 Elective CreditsThis course will examine the fundamentals of commercial real estate transactions from a legal and managerial perspective. Students will gain an in-depth understanding of the major laws and regulations which impact business strategy, allocation of risk, and ultimately deal structures in real estate transactions. Through course readings, assignments, and analysis of industry examples, students will learn how the business strategy components of a term sheet are integrated into the provisions of a transaction's legal documentation. Course topics will include the following: acquisition and disposition, real estate finance, management, development, leasing, tax considerations, distressed property, including loan workouts and commercial foreclosures, and recent legal developments. The course is designed to introduce students to commercial real estate and appeal to real estate entrepreneurs and students interested in careers in the real estate industry.
FIN9510 Residential Real Estate: Acquisition, Disposition, Finance, and Leasing
1.5 Intensive Elective CreditsThe purpose of this course is to provide students with the knowledge to efficiently and effectively navigate the residential real estate marketplace in the United States. The course is designed to introduce students to the residential real estate housing market and appeal to real estate entrepreneurs and both domestic and international investors. We will explore the major issues and considerations that impact the valuation, financing, acquisition, disposition, and leasing of residential real estate. Course topics will include: market valuation and appraisal, real estate finance, including residential mortgage types, borrower financing decisions, and primary and secondary mortgage markets, applicable laws and regulations, property inspections, environmental issues, title insurance, brokering and closing the transaction, landlord and tenant issues, tax considerations, and default ownership issues. Throughout the course, we will emphasize practical application of the course topics and examine current examples from the industry and marketplace.
FIN7504 Risk Management
(Formerly Managing Financial and Corporate Risk)
3 Elective Credits
Risk management has risen to a new pre-eminence with firms being exposed to an ever increasing range of risks. The reasons for this rise, and the techniques and instruments used by risk managers, are the subjects of this course. The course will first cover the concept of Enterprise Risk Management (ERM) and then analyze the key financial tools used in risk management, such as futures and options. Students will then use their knowledge to manage risk optimally and alter the risk/return characteristics of corporations. The course will apply these tools to risk management cases to cover a whole set of different sectors (airlines, automobiles, IT, etc.). The course will also go into some of the most pressing risks of our time, namely: climate change; diversity, equity and inclusion (DE&I); and cybersecurity, as well as risks related to Mergers & Acquisitions (M&A) and executive compensation.
This course is typically offered in the following semesters: Spring
Prerequisites: FIN7200 or FIN7800