Real Estate Capital Markets

Catalog description

This course provides the student with more advanced exposure to the risks and rewards of real estate finance in the context of capital markets building on the introductory course. It expands fundamental techniques pertaining to residential and commercial real estate and contemplates more complex financing instruments. It will consider senior, subordinate and mezzanine notes; derivative tranched structures; risk evaluation techniques for relative value; risk assessment; portfolio construction; and optimization. It will consider the role, cost and benefits of real estate derivatives such as RMBS, CMBS and REITs to society and their role in the built environment.