Real Estate Finance Fundamentals

This program will present critical "nuts-and-bolts" real estate finance principles and practices in a simple, understandable, and interactive manner that will demystify the real estate financing process ─ regardless of participants’ prior real estate finance experience. Key topics include: establishing realistic financial objectives; calculating primary components of return; preparing operating and capital cost pro formas; understanding and applying debt-financing underwriting criteria; appreciating the power of positive financial leverage; understanding simple waterfall/promote structures; and calculating and interpreting standard real estate industry measures of return, including Return on Total Asset Cost (Cap Rate), Cash-on-Cash Return, Net Present Value, Internal Rate of Return, and Equity Multiples.

Instructor: Edward Marchant, Harvard Kennedy School and Harvard Graduate School of Design

For those who qualify, 14 AIA/CES | 14 AICP/CM | 14 LA/CES are available.

For more information, contact execed.gsd.harvard.edu/programs or call 617-384-7214.