Course Details

Real Estate Finance and Investments
FINC-454-0
1.0 CR
Elective
PASS / NO CREDIT
Yes (may vary by section)
DESCRIPTION
This course is an introduction to the most fundamental concepts, principles, analytical methods and tools useful for making investing and financing decisions regarding income-producing property. We begin the course by considering how to estimate the cash flows and discount rates for investment property, allowing us to estimate a property's fundamental value. We next discuss how investment property is generally financed by a close examination of real estate debt markets as well as real estate private equity. We consider the taxation of property as well as how investors should think about the risks to investing in property. We conclude with important considerations for investors when their investment thesis does not come to fruition. We will study property investment using the tools and framework of modern corporate finance and investments, while focusing on the institutional features unique to the real estate industry. As such, the course is designed for students with or without a real estate background, who may be interested in learning about investing in property, either personally or professionally. Students complete individual homework, group cases, and a midterm and final exam.
TRACKS
Finance Major
Real Estate Pathway
SCHEDULE SUMMARY
Fall 2022
Winter 2023
Spring 2023
CH
EV
CH
EV
CH
EV

CH (Chicago)
EV (Evanston)
DayTime
Evening
Saturdays
Popup
PREREQUISITES
Prerequisites:
All Students: (FINC-430-0 OR FINC-435-0 OR FINC-440-0 OR FINCM-430-0)