This course focuses on how you conceive, build and lead successful real estate companies. By virtue of the industry in which they compete, real estate companies are almost always founded and developed by entrepreneurs. A few grow to become category killers; others are able to compete in a crowded and competitive landscape. Many, however, are eventually closed down; sometimes due to changing market forces, sometimes due to lack of good corporate strategy or execution, and sometimes due to the founder neglecting to institutionalize a lasting organization to succeed him or her.
Taught through a combination of lectures, cases and analytical problems, this course examines (primarily through the lens of real estate investment and development companies), the critical ingredients required to grow and lead long-term competitive enterprises. The course will begin with an examination of how to optimize the performance of real properties and then migrate to the design and development of successful companies that own or service properties.
At the end of this course, students should gain a deeper appreciation of how owners think and act when they oversee their companies. They will specifically be introduced to how to develop a robust strategy, capital plan, corporate culture and execution capability that are part of every great real estate company. Students taking this course should also be able to construct the elements of a simple business plan for a startup. Students are also encouraged to think about how they may launch their own real estate enterprise during the course, and to make active use of other Harvard resources, including Harvard clubs and facilities like the I-lab, as they think through their entrepreneurial opportunities.
Paired Course: Although not mandatory, this course is meant to be taken in conjunction with GSD 5275, which meets the first half of the semester; it is also 2 credits and meets at the same time as 5276. GSD 5276 will build on many of the questions and concepts that 5275 postulates.