Course overview
Real estate is a significant investment focus in managing investor portfolios. This course looks at the issues in financing and investing in real estate, with an emphasis on commercial real estate. It covers the general context of real estate as an investment, including the role and contribution of property trusts versus direct investment, and discusses what differentiates real estate from other assets. Valuation models are investigated, including cash flow models, comparative valuation, and the influence of real options values. Real estate investment financing is investigated, looking at project financing as well as general investment. Lastly, issues in project development are considered. Building on the Adelaide Business Schools existing links with the American Real Estate and Urban Economics Association, the course covers the tools used by direct investors and advisors to make better decisions with respect to real estate investment. This relies on case studies of Australian and international projects and investment outcomes to illustrate the issues involved.
Course learning outcomes
- Identify the core drivers of market value and market performance in the property market.
- Evaluate the investor's asset financing model.
- Understand the positioning of real estate within a portfolio and the opportunities it presents for investors.
- Apply models for the assessment of real estate development projects.
- Evaluate and present a professional report on a real estate.