Real Estate Development Process: Part II

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Start:
January 29, 2015 @ 8:00 am
End:
January 31, 2015 @ 5:00 pm
Category:
Venue:
JW Marriott Santa Monica Le Merigot
Address:
1740 Ocean Avenue, Santa Monica, CA 90401 United States
Phone:
310-395-9700
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
Email:

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The Real Estate Development Process: Part II course is structured on the principle that learning to make good decisions requires more than instruction; it requires interaction and practice. Consequently, the course engages students in discussion with the instructor and guest speakers, as well as in realistic development scenarios that demonstrate the complexities and interdisciplinary nature of real estate development. Participants engage in challenging case studies and interaction with other class members. Participants work in teams on several realistic case studies representing different stages of real estate development acquisition, entitlement, and full-scale development, giving them practical experience at each stage.

For each case study, participants receive real-world data from which they produce a viable strategy for their hypothetical projects. Through this hands-on approach, participants are introduced to higher-level concepts and real-life complexities of the development process. Prominent guest lecturers from the fields of finance, entitlement, construction, architecture, municipal finance, and entrepreneurial development discuss the development process from their own perspectives in an interactive setting.

Participants receive computer models, case descriptions, course outlines, and handouts on a CD or flash drive. Participants should bring laptop computers to fully participate in the pro forma business modeling and case studies.

Principal Instructor

Charles Long
Principal
Charles A. Long Associates
Berkeley, California

Charles LongCharles A. Long is a developer specializing in mixed-use infill projects, including acquisition, entitlement, consulting and development. He has 37 years of diverse experience in local government and development with an emphasis on economic development, finance, management and public-private partnerships.

He served for eight years as city manager in Fairfield, California. Since 1996, he has worked as a consultant to public and private clients on development and management. He has held interim positions for several cities in finance, redevelopment and management, including Interim Town Manager of Mammoth Lakes and Interim City Manager of Pinole and Hercules, California. His assignments have been diverse including negotiating development agreements, writing redevelopment plans, pro-forma analyses, strategic planning, economic development, organizational development, capital and financial planning, budget reform, base reuse and alternative energy development. He has overseen over $600 million of public financing in his career.

His work on development is focused in California with an emphasis on public-private partnerships and mixed use infill.

Mr. Long is a full member of the Urban Land Institute and, within ULI, a member of the Public Private Partnership Council and a faculty member of the ULI Real Estate School, teaching both in the US and internationally. He has worked on fifteen ULI Advisory Panels, most recently chairing a panel in Dallas, TX and is the recipient of the 2012 Robert M. O’Donnell Award for distinguished service in the advisory program. He is co-chair of the Sustainability Committee for the San Francisco District Council and, in that capacity, initiated several reports including recommendations for streamlining California’s environmental review process and a directory of financing sources for building efficiency. He is also building a program called Real Estate 101 for Public Officials, training a volunteer faculty to teach public officials about how to do public private partnerships. He is the author of the book, Finance for Real Estate Development, published by ULI in April 2011 and winner of the 2012 National Association of Real Estate Editors Silver Award.

Mr. Long has a BA in economics from Brown University and a Masters of Public Policy from U. C. Berkeley. He served in the U.S. Army as an infantry platoon sergeant.

Registration Fee

ULI member: $1,095
Non-member: $1,460
Government and nonprofit ULI members: $950
Government and nonprofit ULI non-members: $1,265

Registration fee includes tuition, course materials, continental breakfast, luncheon, and refreshments.

Cancellations must be made in writing or by e-mail to ULI’s customer service department and are subject to a $100 administrative fee. Cancellations must be received at least seven days before the start of the program to be eligible for a refund. No refunds will be granted thereafter. You may transfer your registration to another member of your organization with no penalty.

Accommodations

Hotel accommodations are not included in the course registration fee. A special room rate of $299.00 plus tax for Superior Courtyard & City View rooms will be extended to attendees based on availability, if booked on or before Monday, January 5, 2015. Call 310-395-9700 and ask for in-house reservations or book online.

Program Highlights

Introduction

  • The Phases of Development
  • Management Principles of Pre-Development
  • Areas of Focus for Project Management

Real Estate Finance

  • The Capital Stack
  • Cap Rates and Valuation
  • Debt and Equity Parameters
  • The Waterfall
  • Fiduciary Standards

Project Viability and Residual Land Value

  • Project Valuation
  • Determining a “hurdle” for Your Project
  • Supported Investment
  • Residual Land Value
  • Determining Market Support (market vs. feasibility analysis)

Acquiring the Site

  • Steps to Acquisition

Project Management

  • Models and Principles

Joint Venture Development Entity

  • Structure and Management of a Joint Venture
  • Profit Distribution

Marketing

  • Managing the Sales/Leasing and Marketing Team

Marketing Methods and Media Overview