Real Estate Development Process: Part II

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Event:
Real Estate Development Process: Part II
Start:
January 22, 2013 8:00 am
End:
January 24, 2013 5:00 pm
Category:
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
dmulvihill@uli.org
Updated:
August 30, 2012
Venue:
ULI Headquarters
Address:
1025 Thomas Jefferson Street, NW, Suite 500 West, DC, 20007, United States

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


Long is a developer specializing in mixed-use infill projects, including acquisition, entitlement, consulting, and development. He has 32 years of diverse experience in local government and development with an emphasis on economic development, finance, and public/private partnerships. Long served for eight years as city manager in Fairfield, California, a city with a national reputation as innovative and well-managed.

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, California. Long’s assignments have been diverse, including writing redevelopment plans, working on development projects, conducting pro forma analysis, conducting strategic planning, representing public agencies in negotiations, marketing development opportunities, assisting with organizational development, conducting capital and financial planning, implementing budget reform, analyzing base reuse, and promoting alternative energy development. He has overseen over $600 million of public financing in his career.

Long has a BA in economics from Brown University and a master of public policy from the University of California at Berkeley. He served in the U.S. Army as an infantry platoon sergeant.

Guest Speakers

Matthew L. Cypher
Professor of Real Estate
Georgetown University – McDonough School of Business
Washington, DC

Christian T. Miles
Managing Director – Capital Markets Group
Cassidy Turley
Washington, DC

Thomas H. Miller, AICP
Planning Supervisor
Department of Community Planning, Housing & Development
Arlington, VA

William J. Prutting, Jr.
Senior Vice President
CBRE Investment Properties
Washington, DC

Registration Fee

ULI Member: $995
Non-member: $1,250
Government and nonprofit: $950

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 and Course Location

Hotel accommodations are not included in the registration fee. If you would like to make hotel arrangements, please contact the appropriate hotel before the date indicated. You are advised to make your reservations as early as possible. NOTE: Hotel room blocks do not exist for programs held at ULI’s offices.

Meeting Only

ULI Headquarters
1025 Thomas Jefferson Street, N.W.,
Suite 500 W, Washington, D.C. 20007-5201
Telephone: 202.624.7000.

Accommodations Only

Holiday Inn Rosslyn at Key Bridge
1900 North Fort Myer Drive
Arlington, Virginia 22209
Reservations: 800.315.2621 or 703.807.2000

The Four Seasons Hotel
2800 Pennsylvania Avenue, N.W.,
Washington, D.C. 20007
Reservations: 877.707.0843 or 202.342.0444

The Latham Hotel (currently closed for renovations)
3000 M Street, N.W.,
Washington, D.C. 20007
Reservations: 888.587.2377 or 202.726.5000

The Melrose Hotel
2430 Pennsylvania Avenue, N.W.,
Washington, D.C. 20037
Reservations: 800.635.7673 or 202.955.6400

Georgetown Suites
1000 29th Street NW & 1111 30th Street NW
Washington, DC 20007
Reservations: 800-348-7203

Avenue Suites NW Hotel
2500 Pennsylvania Avenue
Washington, DC 20037
Reservations: 877-736-2500

+ Google Calendar

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

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