The Real Estate Analyst course provides an introduction to the theoretical and practice of real estate development and investment. It widening the application financial modelling and commercial considerations to new sectors, geographies and project types. The course includes an introduction to development cash flow modelling, from how to best represent the risks associated with the costs, to methods and considerations of development financing. In addition to the office sector, modelling of retail investment assets and commercial residential development are also covered. Additionally, the geographical investment universe is expanded to include how to model pan-European real estate cash flows accounting for different indexation rules and methods.
- Understand the real estate development process;
- Understand real estate development as an investment strategy;
- Revise operational models of real estate assets and stress for core income;
- Apply modelling techniques to an expanded range of real estate sectors and geographies;
- Consider both investment and development cash flows;
- Understand the sources and use of funds;
- Learn about typical debt covenants and how to incorporate them;
- Learn how to optimise debt structures.
- Real Estate developers;
- Property Analysts;
- Portfolio Analysts;
- Investment Managers;
- Real Estate professionals at any level with exposure to real estate financial models on a frequent basis;
- Business planning & strategy;
- Financial Research Analysts;
- Corporate Finance managers;
- Project Finance Analyst;
- Investment Banking Associates;
- Modelling international variations in real estate income streams i.e. Includes indexation patterns, rent caps, discounts/premiums to indexation, rent free periods, as well as how to deal with costs during vacancy;
- Modelling sector variations in real estate income streams i.e. Office versus industrial, retail & leisure;
- Further senior debt covenants;
- Rent Function techniques to manage feature rich lease structures;
- Introduction to development appraisals;
- Residual models, site and profit calculations;
- Development cash flows versus Investment cash flows;
- Introduction to straight line versus S-curve costing;
- Phased asset sales in development appraisals;
- Discounting development cash flows;
- Complimentary return metrics for development appraisals;
- Introduction to development finance
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Spreadsheet Modelling for Valuers And Real Estate Analysts
This unit aims to introduce the main theoretical and practical issues involved in the valuation and appraisal of investment projects. It covers the evaluation of private and public-sector investments. A key objective of the unit is to give the participants both the knowledge and the practice of applications to be able to work as a professional in this field.
Real Estate financial modelling school
The course consists of three main practical levels designed to cover the full range of real estate investment strategies from core to opportunistic. Spreadsheets (i.e. Ms Excel) are the basic tools used in this course.