Understanding Commercial Real Estate Cap Rates Webinar

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Event:
Understanding Commercial Real Estate Cap Rates Webinar
Start:
January 15, 2013 1:30 am
End:
January 15, 2013 3:30 pm
Cost:
165.00
Organizer:
David Mulvihill, Vice President, Professional Development
Phone:
202-624-7122
dmulvihill@uli.org
Updated:
December 18, 2012

**Webinar is at 1:30 p.m. EST**

Real estate capitalization rates are a much observed indicator of property value and their movement over time can have profound effects on investor returns. Nevertheless, they are not often well understood by some real estate professionals. And, while real estate investors typically understand how cap rates are used to determine the value of a property, often there is less understanding as to how and why cap rates change.

To gain a more comprehensive understanding of cap rates and their movement over time, it is necessary to examine the component parts that make up a cap rate. Interest rates, expected inflation, risk premiums, and growth in property cash flows are all factors that determine both current and future cap rates. How these component parts change over time dictates how the overall cap rate will respond.

In this webinar, the components of the cap rate will be revealed and discussed with an explanation of how cap rates have moved in the past, and a view to how they might move going forward.

Attendee Takeaways:

  • A comprehensive understanding of the component parts of real estate capitalization rates and how they are used to determine value.
  • Learn how to access market information to determine the current level of these component parts and trends in their movement over time in order to forecast the direction of cap rates.
  • Be able to use the information provided in the webinar to make more informed valuation and investment decisions.

Who Should Attend:

  • Real Estate Developers
  • Real Estate Lenders
  • Real Estate Investors
  • Accountants

Instructor

Brent C. Smith
Virginia Commonwealth University School of Business, Department of Finance Insurance and Real Estate
Associate Professor
Richmond, Virginia


Smith is an associate professor in the Department of Finance Insurance and Real Estate in the School of Business at Virginia Commonwealth University. He holds a master of business degree from the University of Notre Dame and holds a PhD in finance and economic geography from Indiana University. Smith’s research interests include commercial property markets, mortgage performance, housing finance, and valuation.

Smith was a recipient of the Outstanding Reviewer Award in 2009 for real estate economics, and received the Emerging Scholar Award in 2010 from the American Real Estate Society. In addition, he is a postdoctoral honoree at the Weimer School of Advanced Studies in Real Estate and Land Economics, Florida. His research papers have received numerous grants and acknowledgments, including two best paper awards from the American Real Estate Society. Smith was recently inducted as one of only three academic members into the Real Estate Councilors’ Group of America.

Smith’s recent research is directed at issues of risk and valuation. Within those themes, the areas of study include commercial property markets, mortgage performance, investment finance, and public policy and tax influences. Articles produced from this activity are published or scheduled for publication in the Journal of Real Estate Finance and Economics, Real Estate Economics, Journal of Real Estate Research, Urban Affairs Review, Journal of Property Tax Assessment and Administration, Journal of Housing Economics, Journal of Housing Research, and Economic Quarterly, and Journal of Public Budgeting, Accounting, and Financial Management.

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