11.432J | Spring 2007 | Graduate

Real Estate Capital Markets


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.)

Course Info

Learning Resource Types
Problem Sets
Lecture Notes
Written Assignments