Real Estate Finance I

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Start:
June 3, 2013 @ 8:00 am
End:
June 5, 2013 @ 5:00 pm
Category:
Venue:
Marina Del Rey Marriott
Address:
4100 Admiralty Way, Marina Del Rey, CA 90292 United States
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
Email:

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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.

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

John Ayoob
Executive Vice President
CBRE | Brokerage Services
El Segundo, CA

Todd T. Popovich
Senior Vice President and Regional Manager
Wells Fargo Commercial Real Estate
Los Angeles, CA

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.

Related Reading

Finance for Real Estate Development
By Charles Long

Finance Real Estate Book
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.

Learn more

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

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