1 Semester Unit
Prerequisite: Principles of Finance
This course focuses on how developers create value from real estate assets. The course will examine the real estate development process: how a developer thinks, how projects are created and completed, and how problems are addressed. We will discuss market analysis, site selection, acquisition, planning, construction, leasing and permitting. It is assumed that students, having taken previous courses in finance, are familiar with essential concepts of determining cash flow from operations, free and clear return and loan amortization. Throughout the course, we will use these tools to focus on “the numbers,” keeping in mind the underlying economic realities of each project. Using cases and real life examples, working individually and in groups, and participating actively in classroom discussions, students will apply these skills to retail, residential, office and mixed-use developments.