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Certificate Seminars
Completion of the certificate program requires that the student complete
six Core classes of six hours each, and an additional two Elective
classes of six
hours each for a total of 48 hours.
Seminars:
Certificate in Commercial Real Estate
Core Classes
Fundamentals of Commercial Real Estate
Finance (6 Hours)
This seminar will focus on the two sources of funding Real Estate projects:
Debt and Equity. Topics of discussion will include sources of equity, sources
of debt, transaction structuring, and lending arrangements.
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Sources of Funds
Equity sources, partnerships, syndications, mezzanine financing
Debt Sources, Banks, Institutional Investors, Security Instruments
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Types of Loans
Recourse / Non-recourse, 3/5/7 year, Interest only vs. Amortized
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Loan Programs
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Qualification Standards
LTV, DCR General Credit Issues
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The Closing Process and understanding Loan Docs
Title Reports, Assignment of Rents, Agreement to provide Insurance, Guarantees,
Mortgage Document and Recording
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Nature and Cycles of Real Estate Finance
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General Investment Strategies and Evaluation of Financial Decisions
OPM, Leverage, Cash Flow, IRR, COC ret. Cross collateralization
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Impact of the Federal Reserve Policy on Lending
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Current Issues in Real Estate Finance
Subprime Credit Impact on lending standards, Foreclosures, Stock market returns
vs. Real Estate investment
Commercial Real Estate Investment Analysis (6 Hours)
This seminar will explore the various elements of evaluating a Commercial Real
Estate Investment. Participants will experience the steps that must be followed
to avoid the potential obstacles investors may encounter during a real estate
transaction or ownership of an income producing property.
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Finding an asset
Sources for locating properties, Broker utilization, Internet, Networking
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Physical Building Analysis
Physical Concerns, Roof, Mechanical, Environmental, Parking ratio, Structural
Integrity, Zoning Issues, Condemnation and neighboring uses.
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Financial Analysis
Income and Expense analysis, Budgeting, Reserve Accounts, Cap Rates and Appreciation,
Highest and Best Use.
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Issues affecting Buying Decisions
Returns Available Elsewhere, Tax Strategies 1031, depreciation
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Issues Affecting Selling Decisions
Reasons to sell or not, Expenses associated with disposition, estate planning,
Tax consequences
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Capital Markets
Local Banks, Wall Street, Private investors, Investor Qualification
Fundamentals of Commercial Real Estate Development (6
Hours)
This Seminar will outline, start to finish, the Commercial development process.
Participants will define the objectives of the Developer and work through
municipal needs and requirements. Case studies will be offered for four different
development types, Industrial, Retail, office and mixed use.
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Overview of the development process
Why do it? Locating Properties, Determining need through demographics and Market
analysis, other research and due diligence.
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Development Strategies
Defining needs, community design issues, zoning issues, traffic impact, job
creation, area growth trends, impact of baby boomers on regional growth trends,
net Municipal Revenue Positive vs. Negative projects, Infrastructure Analysis.
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Project Analysis
Site Design analysis criteria and impact on the surrounding area, (local, regional)
Financial Analysis, Cost, Interest Carry and disposition plan. Discussion of
potential downside and risks vs. rewards.
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Urban Redevelopment vs. Suburban Issues
Infill and gentrification, adaptive reuse, Infrastructure needs (schools, roads,
water and sewer, power, airports, rail, etc.) Suburban sprawl, stormwater
management issues
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Sociological Issues and the impact of development on the
neighborhood
Affordable housing, subsidized housing, elderly concerns, open
space,
Transportation needs.
Management of Commercial Property (6 Hours)
This seminar will help the participant understand the role and functions of
the commercial Property Manager. Definition of the objectives of the Property
Manager will be discussed, and physical and economic concerns will be addressed
during the class.
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Function of the Commercial Property Manager
Revenue Maximization, Liability elimination and reduction, Income vs. Expenses,
Maintenance and property inspection, Tenant compliance with leases, interaction
with the public and concerns therein.
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Types of Commercial Properties and differing management concerns
Office Buildings vs. Retail vs. Industrial, Security Issues, Holiday Shopping,
differing signage requirements, Truck Traffic issues, Use clauses.
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Project Budgeting
Line item budget review – Income from Rent, Cam, Tax, Insurance
reimbursement and alternative sources. Lease up projections and Tenant
Retention, Tenant
Improvement Concerns. Expenses by vendor analysis and projections.
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Negotiating with vendors and tenants
Goals and objectives with vendors. Price vs. quality. Goals and Objectives
with Tenants, Mutual Goals, retention issues, compromise vs. confrontation.
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Commercial Lease Language and its impact on Property Management
Components of a Lease. Parking concerns, window signage, percentage rent, hazardous
materials and their effect on a project, holdover, showing spaces for rent
while occupied. Access Issues and Building Security.
Marketing Commercial Real Estate (6 Hours)
Whether Leasing or selling a Commercial Property, it is imperative that your
target audience know of the availability. This seminar will address the methods
utilized to Market Commercial Properties by Commercial Brokers and the impact
of the Internet on Real Estate Marketing efforts.
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When is the best time to sell?
Ownership goals and concerns vs. economic climate.
- Different target audiences for different uses
ICSC for Retail, Industrial Trade Groups and Co-star for Office Space. Loopnet,
Zillow, HotPads, and other Web Venues for sending your marketing message.
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Case Studies of Marketing Strategies that have worked for different
property types
How to increase awareness of a select product
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So you have a prospective Tenant – Now What?
Negotiating a Lease, Gross vs. Net, the advantages of each, Credit concerns
with Tenants.
Legal Aspects of Commercial Real Estate (6
Hours)
The Law has a direct impact on nearly every aspect of commercial Real Estate.
From Acquisition to Zoning to Construction, There are legal concerns every
step of the way. This Seminar will address the nature of contract law and
the impact that it has on transactions and decision making.
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General Overview of Real Estate Law
History, Ownership, Easements, Zoning,
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Elements of a land purchase contract
Legal concerns related to intended use and development parameters
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Environmental Concerns and the law
Chain of title and potential liability
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Anatomy of a Commercial Lease Agreement
Different leases for different types of user. Important clauses for each type
of use.
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Listing and Marketing Agreements
Legal Requirements and State Licensing for Brokers, Leasing Agents, Property
Managers
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Using the Law to reduce Liability and Exposure
How to protect yourself and your assets from potential litigation. What type
of Ownership Entity is best to accomplish your Goals (LLC, Partnership, REIT,
TIC, etc.)
Appraisal of Commercial Real Estate (6 Hours)
Instrumental in the field of Real Estate Development is the valuation of properties.
Students familiar with methodologies used to evaluate property will have a
better understanding of how to increase the value of their projects. This seminar
will focus on the three most common methods used to appraise property, and
detailed examples of each will be reviewed.
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Preparation of a market analysis
How to gather relevant facts about a property and its’ surrounding
market.
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Project Feasibility and due diligence
Reviewing operating History, Pro-forma examination, scrutinizing cost and budget
figures and project lease up schedules.
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Acquiring Market Data
Reviewing surrounding properties, verifying assessed valuation and zoning concerns.
Sources used for obtaining information will also be discussed.
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The Construction Cost Method
Appraisal of existing and proposed projects using the land basis plus the estimated
Construction Costs. New Construction and Replacement cost issues will be
covered.
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The Comparable Property Approach
How to evaluate a property based on similar properties that have been sold
in the same real Estate market. Also covered is how to adjust the Comp for
variances in amenities and features.
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The Income Approach to Property Valuation
In this section the participant will learn how to value a property based on
the cash flow generated by the asset. We will also discuss how to improve
cash flow through repositioning the property in the market, lease up, and
expense reduction.
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Decision Making Issues
The attendees will review factors influencing decisions pertinent to Real Estate
Development with regard to property valuation.
Real Estate Development and Community Design Principles (6
Hours)
The concept of highest and best use is critical to the Real Estate Developer.
Site limitations and municipal restrictions combine to force creative solutions
from the design team that must be economically viable. In this seminar, participants
will review case studies and create development concepts for sites which
adhere to the restrictions and limitations. Industrial, Office, Retail, and
mixed use projects will be covered.
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Site Characteristic analysis
How to read surveys and determine site feasibility by what surrounds a site.
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Zoning analysis and municipal restraints
Interpreting municipal zoning codes, future land use maps, variances and building
envelopes. Defining parking ratios, dealing with Architectural review committees.
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Stormwater detention
Addressing the hot button of site runoff. Design options, green space.
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Designing Different property types
Factors critical to the design of Retail, Industrial, and Office
properties. What works for one type of project does not necessarily
work for another.
Signage, Parking, Truck Traffic, accessibility, and
a host of other concerns and their impact on a project.
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