399 and 899. Seevak Research Competition (Independent Study Course).
Students work in groups on a research project. This year's project involve three
student groups, each presenting an analysis surrounding the issue of “Problems
and Prospects in Commercial Real Estate Investing: Analyzing the Risks and
Opportunities." In addition, student groups present to
industry judges who award cash prizes for the best presentation.
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240. (REAL840) Advanced Real Estate Investment and Analysis. Gyourko. Prerequisite(s): REAL209 or FNCE209, REAL/FNCE721 (MBA students)
This course, Advanced Real Estate Investment and Analysis,
is designed for majors in Real Estate, both undergraduate and MBA, but is also
open to finance-oriented students who wish a deeper analysis of real estate
investment and investment analysis issues not offered in REAL/FNCE 209 and 721.
The course presumes knowledge of real estate finance at a level taught in REAL/FNCE
209 and 721. The class will contain a mixture of standard lectures, guest
speakers and case discussions. It will meet once per week for three hours to
accommodate the relatively high number of outside speakers and cases in the
course. There are three major sections in the course: REITs and Publicly-Traded
Real Estate, the Private Real Estate Market, and the CMBS Market. Grading will
be based on three extensive case assignments (60%), three homework assignments
(25%), and class participation (15%). The readings come from a series of
articles provided in a bulk pack and two books: REITs-Structure, Analysis, and
Strategy, and A Primer on Securitization. The books are very recent works on the
public equity and debt markets in real estate and must be purchased with the
bulk pack. The volume of material is not overly burdensome for a course of this
type, and all readings should be done prior to the class for which it is
assigned. In general I have tried to pair academic papers with recent industry
reports, with the goal of marrying sound theory and empirical analysis with
relevant current events and practices. Class sessions are organized with the
same goal in mind. I will deliver a number of lectures outlining what economics
and finance tells us about a number of topics. Generally, these will be followed
by guest lectures from industry professionals who will focus on a specific
application of the principles introduced in the lectures.
Sample Syllabus