Course Description:We are all familiar with the traditional real estate asset classes – commercial, multi-family, retail, industrial. BORRR-ING!!! But what about those overlooked asset classes? Those “secret fishing holes” that institutional investors are only recently beginning to notice and realize that there’s “gold in them thar alternative sectors” (to mix metaphors)?! These are the new Income producing properties and they include seniors housing, student housing, specialty retail, self-storage, boutique apartment buildings and cell tower real estate. These Alternative Assets will be studied as individual investments and as part of a larger real estate portfolio.
Disciplines that are germane to all asset classes, including due diligence, development and contract law, will be discussed and examined. For individual properties, long-term decisions regarding capital expenditures, refinancing, conversion and disposition, along with day-to-day decisions regarding leasing and marketing are exposed. Strategic decisions regarding the financing structure and capital expenditure programs (“capex”) of an investor’s real asset portfolio are also addressed. Institutional investors including private equity, hedge funds, endowments, insurance companies and pension funds will also be vetted.
Throughout the course, renowned business school case studies will be taught and guest speakers that are professionals in these various industry segments will offer insight and share real life experiences.
By the end of this course, the student will be able to determine the monetary value of any and all income producing properties for the benefit of the institutional investor. This will be accomplished after comparing and contrasting asset management strategies, increased valuation techniques (opportunistic investing and capex) and understanding ALL of the factors that go into determining cap rates.