Real Estate Finance and Capital Markets (formerly REA 9795)

This course emphasizes the concepts and techniques used to analyze and finance income-producing real property, providing students with quantitative skills and a critical perspective toward risk and reward at the individual project and investment portfolio levels. It focuses on the unique financial characteristics of real estate, such as local market conditions, property-specific issues, cash flow uncertainties, and tax features. It also considers strategies and structures and examines the motivations of different players and institutional arrangements. The course emphasizes case studies (including ethical considerations) and PC-based analysis. Also examined are sophisticated capital market structures, such as mortgage-backed securities and real estate investment trusts.