Institutional Real Estate Investment

Catalog description

This course covers the convergence of real estate and the capital markets. It is designed to expose students to the structure, analysis, and valuation of a variety of real estate securities including: residential mortgage backed securities (MBS), collateralized mortgage obligations (CMOs), commercial mortgage backed securities (CMBS), and real estate investment trusts (REITs). The course also focuses on the role of real estate as a specific asset class in modern portfolio theory. After successfully completing this course, students will have a practical foundation for applying rigorous empirical methods in research to topics related to project level valuation and investment, the role of debt (capital structure), analysis of mortgages, private and public equity investment in real estate, and the role of real estate in portfolio allocation models.