In today’s environment, commercial real estate development only occurs when property markets demand additional space and capital markets are able to provide the needed financing. The opening course in commercial real estate finance targets this intersection of property and capital markets. It highlights the market analysis necessary to support commercial leasing activity, the income and expense analyses flowing from those leases, and the resulting value creation. While addressing equity capital sources, the course focuses more directly on debt capital and understanding loan sources, lenders’ underwriting guidelines, and cash flow analysis. (Equity capital sources and requirements are addressed in detail in the second course in this sequence, Real Estate Finance II.) Finally, you will learn how much you can afford to pay for the land and still have an economically feasible development project.
Participants are expected to bring a laptop computer with Microsoft Excel to the course.
Richard L. Haney, Jr.
Professor of Real Estate and Finance
Mays Business School
Texas A&M University
College Station, TX
Haney is a specialist in real estate finance, development, and valuation. A professor of real estate and finance, his teaching responsibilities include graduate courses in real property finance, development, valuation, and mortgage market analysis. He has published widely in scholarly and professional journals and has extensive experience teaching professional development courses, including 25 years of teaching in the ULI Real Estate School.
Haney is a full member of ULI, a fellow of the Homer Hoyt Advanced Studies Institute, and a faculty fellow of the schools of mortgage banking at both Stanford University and Northwestern University. He is also coauthor of three textbooks, including the second edition of the ULI’s Real Estate Development: Principles and Process.
Joseph L. Carter III
Executive Vice President
Manager, Mid-Atlantic Division
Commercial Real Estate Institutional and Metro Markets Group
Wells Fargo & Company
Senior Director/Capital Markets
Marcus and Millichap Capital
ULI Member: $995
Government and Nonprofit Members: $950
Government and Nonprofit 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.
Hotel accommodations are not included in the registration fee. A block of rooms for the 2014 ULI Real Estate School has been reserved at the Le Méridien Arlington, adjacent to the Waterview Conference Center.
Book your hotel room by May 16, 2014, and mention the Urban Land Institute to get a discounted rate of $259 per night. Call 888-627-7101 or book online.
Finance for Real Estate Development
By Charles Long
Tips for how to productively manage and complete development projects. Explaining how finances drive each decision in the real estate development process, this helpful industry guide recognizes the complexities and significant risks of each project and illustrates how to reconcile conflicting elements to ultimately achieve success. A 36-year real estate development veteran, author Charles Long shares the practical information and personal insights that he has gained over the course of his career, and weaves relevant real world examples into the text, helping to clarify the principles necessary to effectively manage a project in today’s financial landscape.