This course builds on GSD 5204 and comparable introductory real estate courses offered by other schools at Harvard. This year’s course covers five main topics: (1) advanced financial analysis and deal structuring for land, building development and acquisitions, (2) How to raise equity (3) Debt and equity capital – how to structure a capital proposal and where to go for different types of equity, (4) REITS, public real estate markets, and market cycles, (5) Buying distressed debt and non-performing loans with emphasis on Asian capital markets, and (6) Building strategic controls for real estate companies.
The objective of the course is to give students in-depth development and financial analytical skills for project development, and real estate financing, fund management. Using case studies and lectures, the course focuses on advanced real estate finance topics for all major real estate product-types including apartments, office, retail, industrial, single-family, and land development. The course also emphasizes financial structuring and key decision-making for all phases of the development process including site selection, due diligence, design, financing, construction, leasing, operations, and sales.
Prerequisite: Students should have previously taken either GSD 5204 or an equivalent course providing the basic real estate finance and valuation skills, or should receive permission of the instructor.