Real Estate Finance I: Introduction to Debt Financing and Financial Analysis

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Event:
Real Estate Finance I: Introduction to Debt Financing and Financial Analysis
Start:
November 7, 2012 8:00 am
End:
November 9, 2012 5:00 pm
Category:
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
dmulvihill@uli.org
Updated:
July 30, 2012
Venue:
ULI Headquarters
Address:
1025 Thomas Jefferson Street, NW, Suite 500 West, DC, 20007, United States

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, participants have an opportunity to complete a commercial development feasibility analysis.

Participants are expected to bring a laptop computer with Microsoft Excel to the course.

Download Registration Form

Principal Instructor

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.

Guest Speakers

Marty Almquist
Principal
Avison Young
McLean, VA

Joseph L. Carter III
Executive Vice President
Manager, Mid Atlantic Division
Commercial Real Estate Institutional and Metro Markets Group
Wells Fargo & Company
Washington, DC

Walter Coker
Managing Director
HFF, Inc.
Washington, DC

Adam Ducker
Managing Director
Robert Charles Lesser & Co. (RCLCO)
Bethesda, MD

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

Hotel Monticello (currently closed for renovations)
1075 Thomas Jefferson Street, N.W.,
Washington, D.C. 20007
Reservations: 800.388.2410 or 202.337.0900

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

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Program Highlights

  • Developing and owning real estate
  • The intersection of the property and capital markets
  • Land productivity and the income stream
  • How leases can direct the size and shape of the built environment
  • Using market analysis to uncover underlying supply and demand forces
  • Understanding commercial property revenues and expenses
  • The income pro-forma and cap rate valuation
  • Property, debt, and equity ratios
  • Commercial real estate capital sources
  • Construction and permanent loan underwriting
  • Commercial development feasibility analysis