Capital Markets and Real Estate

Catalog description

This course will build upon the foundations laid in the basic Real Estate Finance course. The focus will be upon the "capital stack" including the forms of equity and debt available to finance real estate. The various forms of ownership of real estate will be examined from the perspective of the investors, owners, and lenders. The tax implications of the various forms of investment will be closely examined to demonstrate the effects of alternative legal structures. Case studies of successful and unsuccessful real estate projects will be used to understand how certain legal structures contributed to the success or failure. The discussion of "bankruptcy remote" entities will be included.