Understanding the Markets of Real Estate: Supply, Demand, and Performance

 

Professionals in real estate, whether in design, investment, lending, development, or asset management, are often buffeted by the trends and cycles in the real estate markets. This program provides an in-depth introduction to the myriad market factors affecting real estate, including the economy, interest rates, leasing demand, and debt and equity markets. Financial analysis is also introduced including present value math, asset valuation, and performance measurement. Participants will come to understand what drives regional and local economic growth, both long term and cyclically, why real estate has historically been boom-or-bust, how to measure and evaluate real estate performance, and what factors drive land use planning and land use density. In addition they will be introduced to basic financial concepts and tools used to evaluate real estate investments in both the public and private debt and equity markets, including the securitized debt market. Participants will develop an understanding of real estate risks, returns, and the role of real estate as diversification within a financial portfolio. Learn more

Instructor Raymond G. Torto, Ph.D., CRE, CB Richard Ellis, Boston, MA.

 

Comprehensive Due Diligence for Commercial Real Estate Assets

 

A thorough due diligence process provides a potential owner an understanding of the risks associated with a property and allows the assembly of information needed to plan, budget for, and operate the property. It allows for the confirmation of the asset’s value and is vital to any commercial real estate asset, as it ensures that goals can be met. This program outlines timeframes for due diligence, and will discuss strategies for building a due diligence team. We will consider financial due diligence, which encompasses the various records and reporting assessed to evaluate financial integrity of the asset. Examination of physical due diligence walks through an evaluation of physical and structural components of a property as well as its environmental risks and history. The development segment addresses strategies for understanding codes and zoning pertaining to the property and demonstrates how to evaluate risks and feasibility through the preparation of a pro forma. Permitting and property-tax structures as well as zoning, easements, and physical constraints will be considered. The program is intended for real estate professionals responsible for acquisition, disposition, and value enhancement of commercial assets as well as real estate finance professionals, investors, analysts, asset managers, legal counsel, and property and/or facility managers. Learn more

Instructor Kurt R. Padavano, Advance Realty Group LLC, Bedminster, NJ.

 

Developing and Teaching Case Studies

 

Are you a senior executive or experienced architect who has done a project or had a professional experience you believe can be educational for students or others in your profession? Would you like to become a best-of-class speaker at professional meetings and conferences? If so, this program will give you the necessary arrows for your quiver! While anyone can get up and talk, few teach, empower, and excite. The objectives of this two-day program are to understand how case studies are developed and to author a case study derived from a personal business experience. Teaching notes will also be developed and tools will be given for becoming a dynamic and substantive speaker/lecturer. Activities will include listening to and analyzing the most popular case studies; developing and presenting a small group case study; developing and presenting an individual case study; and presenting a lecture that will be recorded on video and analyzed. Learn more

Instructor Linda S. Law, Law & Associates, Palo Alto, CA. Guest speakers Camille Douglas, MainStreet Ventures, New York, NY; Edward Marchant, John F. Kennedy School of Government, Harvard University; Ashish Nanda, Harvard Law School, Center for Lawyers and the Professions; John H. Vogel Jr., Tuck School of Business, Dartmouth College, Hanover, NH.

 

Distressed Real Estate: Examining Debt and Equity Structures to Mitigate Losses and Identify Opportunities

July 22–23, 2009
Wednesday–Thursday, 9–5
Tuition $2,000
AIA/CES units 16

In the wake of the near collapse of the financial system, real estate markets are experiencing massive deleveraging, deterioration of fundamentals and significant diminution of asset values. These factors, combined with a systemic lack of debt capital in an industry highly dependent on leverage, have created a level of distress that impacts owners, lenders and investors alike. This multifaceted two-day program will involve industry leaders and case studies taught by faculty from Harvard and other prominent higher education institutions to offer real-world tools for use in today’s market. Among the questions that will be answered for borrowers, investors, developers, and lenders are: How were CMBS and other debt vehicles tranched and how can they be deconstructed; how can borrowers work with their lenders to restructure problem loans or assets; what legal aspects need to be considered in any restructuring process; what is the potential impact of governmental policies and actions; where are the opportunities in the market and how should they be assessed; and where will the smart real estate capital be invested. Learn more

Academic Coordinators Joshua Kagan, WestRidge Realty Advisors, Westport, CT; Richard A. Kessler, Benenson Capital Partners, LLC, New York, NY. Instructors J. Daniel Adkinson, NewStar Financial, Inc., Darien, CT; Robert S. Blumenthal, Deutsche Bank, New York, NY; Cia Buckley, Dune Capital Management LP, New York, NY; Sheri P. Chromow, Katten Muchin Rosenman LLP, New York, NY; Jonathan G. Davis, The Davis Companies, Boston, MA; Camille Douglas, MainStreet Ventures, New York, NY; Jonathan G. Geanakos, Houlihan Lokey Howard & Zukin, New York, NY; Stuart Gilson, Harvard Business School; Steven M. Herman, Cadwalader, Wickersham & Taft LLP, New York, NY; Gentry Ashmore Hoit, Atlantic Assets Group, LLC, Summit, NJ; Constantine Korologos, Deloitte Financial Advisory Services, LLP, New York, NY; Keith Locker, Inlet Capital LLC, New York, NY; Kevin O'Shea, Allen & Overy LLP, New York, NY; Stephen J. Pearlman, Houlihan Lokey Howard & Zukin, New York, NY; Scott L. Podvin, Podvin Development Group, Orlando, FL; Clifton Rodgers, The Real Estate Roundtable, Washington, DC; Eric S. Rubin, Normandy Real Estate Partners, LLC, Morristown NJ; Arthur Segel, Harvard Business School; David T. Welsh, Normandy Real Estate Partners, Morristown, NJ. Guest speaker Samuel Plimpton, The Baupost Group, LLC, Boston, MA.

 

*Restructuring Real Estate Deals: Navigating Turbulent Times to Mitigate Losses and Identify Opportunities

*Distressed Real Estate Debt and Equity

*These two programs have been combined. Please see "Distressed Real Estate: Examining Debt and Equity Structures to Mitigate Losses and Identify Opportunities" for the new program description.

 

Registration

• On-line Registration
• Printable Registration Form (pdf)
• All late fees will be waived for summer programs, effective June 19, 2009.
• Registration Policies
• General Program Information
• Registration is now underway for Summer 2009 programs.