Investment cash flow analysis.
Public and private real estate vehicles
Use of debt in real estate investment and development
Debt and investment strategy
Corporate real estate finance and structured leasebacks
Putting investment into a portfolio context
Who should attend?
The programme will be of value to investors, analysts, financers, developers and advisors. Whilst its focus is primarily on European and African markets, the techniques and trends studied will also be of use to delegates investing in property markets in other regions. This course is aimed at professionals with several years' real estate development strategy or (real estate) finance/investment experience.
The course puts participants on a steep learning curve, hence the fundamentals of each subject will be briefly outlined and reinforced before moving onto more complex areas.
To gain maximum benefit from the course, participants should be familiar with the principles of discounted cash flow techniques and portfolio theory.
In addition to exclusive course documentation, participants will receive copies of Excel templates to support the cash flow analysis.
This course is designed as an integrated series of modules which will increase participants’ understanding of today’s complex, sophisticated process of real estate investment and finance. It has been created by a course director with extensive practical understanding of global real estate markets who works in one of London’s top business schools.
In addition to expert course tuition, delegates will benefit from networking and information-sharing opportunities.
The programme’s main objective is to give insights to the latest thinking and innovation in analytical techniques. Participants will consider frameworks for decision rules on major capital expenditure commitments in public and private real estate markets, both at the asset and portfolio level.
Real estate has become a larger, diverse, more sophisticated investable universe and one characterised by relatively low market risk. The growth of the indirect property sector with development of REITs, private equity vehicles and derivative products have significantly improved transparency and liquidity guided by the increasing stature of global industry bodies giving leadership and direction with policy and best practice procedures on a par with the other capital markets.
There is an increasing awareness that public and private real estate both have a role in a multi-asset globally balanced portfolio. Essentially, each individual investor needs to have a strategy for and tactical appreciation of how real estate exposure can be accessed, financed and used in a balanced portfolio with a focus on any combination of the objectives of income generation, return enhancement, diversification or inflation hedging.
Although some investors may still consider real estate as an “alternative” asset class with hedge funds and venture capital-related projects, it continues to attract institutional investors looking for asset backed income, diversification and liability matching.
It is a cyclical asset, but for the well informed investor, property presents different opportunities at different stages of the cycle. Investment opportunities may include opportunistic strategies of buying distressed assets, the undervaluation of REITs or the provision of mezzanine capital. Clearly, however, capital market volatility has altered the investment landscape and financing domestic and cross border investment now involves stricter underwriting standards, which is having an impact on structuring real estate deals for both the investor and the financier. Accordingly, the recognition and analysis of risk is a component part of the programme.