This module continues the instruction from F1, and extends it to redevelopment, value-add, and ground-up development of real estate. Analytical approaches to valuation will be extended to the more complicated situation of valuing proposed development. Discounted Cash Flow analysis and related techniques will be customized to the more dynamic and variable cash flows of pre-development, construction and sale/lease-up period. Cases and assignments will extend earlier principles of strategy, management, and judgement to the less predictable process of development, construction, stabilization and disposition. Partnership structures and legal aspects of real estate will be applied to better understand common approaches to development and finance.

Note regarding the Fall 2026 GSD academic calendar: The first day of classes, Wednesday, September 2nd, is held as a MONDAY schedule at the GSD.