|1||Course introduction, portfolio theory||GM 21.1-21.2.5, pp. 524-538|
|2||Portfolio theory and CAPM||GM 21.2.6-22.1.4, pp. 539-568|
|3||CAPM (cont.)||GM 22.1.5-22.4, pp. 569-582|
|4||REITs introduction||GM 23.5, 23.1, pp. 620-621 and 585-592|
|5||REIT CF-based valuation (as stocks)||GM 23.2-23.2.3, pp. 592-604|
|6||REIT NAV-based valuation and asset valuation||GM 23.4, 23.2.4-23.2.5, 12.3, pp. 617-620, 604-610, and 276-285|
|7||Lincoln case due|
|8||REITs management considerations, wrap-up||GM 23.2.6-23.3, pp. 610-617|
|9||CMBS introduction, CMBS structure (start)||GM 20.1, start 20.2, pp. 489-495|
|10||CMBS structure and rating||GM 20.2-20.3.2, pp. 494-508|
|11||CMBS rating and other topics||GM 20.3.3-20.5, pp. 508-515|
|12||Real estate equity derivatives: Index swaps||GM 26.3, pp. 707-714|
|13||Course wrap-up, CMBS case due|
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Barkham, Richard, David Geltner, and Brian Kluger. "Using Pure-Play Portfolios for Real Estate Investment and Cost of Capital Estimation: A British Example." Real Estate Finance (Fall 1998): 25-36.
Gentry, William, Charles Jones, and Christopher Myer. "Do Stock Prices Really Reflect Fundamental Values? The Case of REITs." Working paper, October 2004.
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Clayton, Jim, and Greg MacKinnon. "Noise and Information in Stock Prices: Evidence From Real Estate Investment Trusts." Working paper, June 2003.
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Ciochetti, Brian, and James Shilling. "Loss Recoveries, Realized Excess Returns, and Credit Rationing in the Commercial Mortgage Market." Working paper, August 2004.
Cho, Hoon, Brian Ciochetti, and James Shilling. "Nonlinearities in the Relation of Property Prices and Commercial Mortgage Defaults." Working paper, November 2005.
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