| 1 |
Course introduction, portfolio theory |
|
| 2 |
Portfolio theory and CAPM |
Review of real estate finance from last fall |
| 3 |
CAPM (cont.) |
|
| 4 |
REITs introduction |
Portfolio exercise due
Guest speakers: Cate Polleys and John Barrie, Fidelity
|
| 5 |
REIT CF-based valuation (as stocks) |
Coaching on "ABC REIT" excel model and/or Lincoln case |
| 6 |
REIT NAV-based valuation and asset valuation |
|
| 7 |
Lincoln case due |
Case discussion (cont.) |
| 8 |
REITs management considerations, wrap-up |
|
| 9 |
CMBS introduction, CMBS structure (start) |
Guest speaker on REITs |
| 10 |
CMBS structure and rating |
|
| 11 |
CMBS rating and other topics |
CMBS guest speaker |
| 12 |
Real estate equity derivatives: Index swaps |
|
| 13 |
Course wrap-up, CMBS case due |
Case discussion (cont.) |