Course 2013-2014 a.y.

Go to class group/s: 31

CLMG (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - M (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - IM (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - MM (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - AFC (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - CLAPI (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - CLEFIN-FINANCE (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - CLELI (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - ACME (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - DES-ESS (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09) - EMIT (6 credits - I sem. - OP  |  3 credits SECS-P/07  |  3 credits SECS-P/09)

Course Director:
ARMANDO BORGHI

Course Objectives

The course focuses on real estate market providing the students with the necessary tools in order to understand the tendencies of the different market segments (residential, office, commercial and industrial) and the various business models used by the main players (property companies, property management companies, developers, real estate funds).
The objective of the course is to provide the students with the basic principles of financial analysis, in order to allow them to evaluate the development, trading, financing and portfolio management operations, along with a clear understanding of the inner and outer critical factors relative to real estate market transactions.
After an introductory theoretical part needed to provide basic tools, the course includes many case studies, financial models for real estate and an analysis of the main transactions which have occurred in the few years.

Course Content Summary

• Real Estate Market and Players
• Economic models: space & capital markets
• Principles of Real Estate Investments & Financial Valuation
• Real estate valuation & Feasibility study
• Cap rate and Discount rate in the real estate
• Real estate Financing
• Real estate funds & REITs
• Asset, Property and Facility Management
• Property companies valuation and acquisition
• Real estate indexes and performance valuation

Detailed Description of Assessment Methods

For non attending students

Written exam on selected chapters.

For attending students

Both the evaluation of group assignments and a written final examination (multiple choice questions).

Textbooks

Exam textbooks & Online Articles (check availability at the Library)

Prerequisites

Corporate finance and/or capital budgeting courses skills are strictly suggested.

Last change 29/04/2013 11:23