RDEV 630 Fundamentals of Real Estate Development and Finance (3)
This course provides an introduction to real estate finance and development. Students learn the basic financial analytical methods (IRR, discounting, compounding, etc.) and apply them to real estate transactions. The course is taught in a Socratic method, with frequent visits from guest speakers from various segments of the real estate finance and investment industry. After taking this course, the student should have a good foundation in real estate finance and should be able to create basic pro forma projections as well as being able to value a variety of property types.
RDEV 635 Capital Markets & Real Estate Investments for Developers (3)
The objectives of RDEV 635 are: (1) to acquaint students with the capital and municipal bond markets and provide them with the fundamentals of those markets; (2) to provide students with a basic introduction to the public capital market sources of financial capital for real estate; (3) to have a familiarity with alternative methods of financing real estate development; (4) to have an understanding of basic concepts of the following types of financing: multifamily mortgage revenue bond financing, tax increment financing, payment in lieu of taxes financing, special assessment financing, low income housing tax credits, REITS, CMBS, LISC financing, capital fund financing, commercial bank financing, and industrial revenue bond financing; (5) to enhance each student's analytical and presentation skills; and, (6) to provide a foundation for further study of all aspects of real estate development financing. The course methodology incorporates homework assignments, in-class examinations, student presentations, guest lectures and site visits.
RDEV 650 Essentials of Design and Construction Management for Development Professionals (3)
This course presents the fundamentals of: (i) architectural design process, administration, and approvals; (ii) project delivery methods and requests for proposal; (iii) pre-construction services and bidding; (iv) construction management and field administration; (v) construction materials, equipment and systems; (vi) LEED and sustainable design; (vii) technology tools; (viii) code compliance such as the Americans with Disabilities Act; and (ix) and ethical considerations in the design and construction process.
RDEV 688A Development Law, Process, and Ethics (3)
This course will acquaint students with an overview of the real estate development industry - the process, parties, politics and wide variety of development types and companies as well as develop a facility with the vocabulary and concepts of real estate law. Students in this class will acquire an understanding of basic concepts of the following areas of law: real property, contracts, administrative law, constitutional law, environmental law, corporate organizations, tax, bankruptcy, and insurance.
RDEV 688D Principles of Property Management for Developers (3)
This course when offered as a corporate property management course, concentrates on the demand side of commercial real estate focusing on the tenant/user perspective, but with the dynamics of a dual viewpoint: (A)the Corporate Real Estate Professional's (CRE) objectives and constraints; along with planning and analysis, reporting and internal approval functions, all of which impact transactions. (B) And the Owner, Investor who markets to and negotiates with the CRE, and as a consequence must understand these issues for successful design, marketing and deal making. Coursework will include guest lectures, case study and group project work, with an emphasis on interactive participation in the classroom.
RDEV 688E Resolving Conflict and Negotiating Agreements (Also PUAF 752) (3)
This course is designed to enhance the student's negotiation and leadership skills for managing differences between individuals and groups. The students will study the nature of conflict, learn how to handle two and multiparty conflicts. It builds on work of Roger Fisher at the Harvard Law School and co-author of Getting to Yes. The course will be a blend of skill building exercises and theory discussions about the behavior of individuals to understand the negotiation dynamics.
RDEV 688G Planning Policy, Practice, and Politics for Real Estate (3)
This seminar course is designed to introduce and familiarize real estate graduate students and graduate students in related professions with the planning, zoning, and other entitlement processes and requirements that can influence development. It will also look at the roles planning and politics have in shaping the built environment and the development process. The course has three primary objectives, those being (1) Develop an understanding of how planning shapes the development process; (2) Develop an understanding of zoning, historic preservation, and other regulatory and entitlement processes and requirements applicable to development; (3) Develop an understanding of how to address neighborhood issues and concerns that can affect the development process.
RDEV 688I Capstone Course in Real Estate Development (3)
This is the culminating course styled as an independent study course, directed by a faculty member, that will provide two alternative options; a) Practice Based - marketing feasibility analysis of a proposed project, its schematic design and cost estimation and complete financial analysis that may be in a studio format or independent study, or b) Research Based - an approved analytical or theoretical paper to explore a relevant development topic or problem with a real estate professional.
RDEV 688L Essentials of Commecial Leasing (3)
Through a hands-on look at commercial real estate leases, lease provisions, and current market activity, students will learn: (1) the role commercial leasing plays in the development process; (2) the terminology of commercial leasing; (3) the principal parties and participants in the leasing process and their roles; (4) the various lease types (e.g. office versus retail) and lease structures (e.g. full service, modified, triple net); (5) the economic drivers of a lease and their pro forma impact; (6) critical analysis of leases for acquisitions; (7) the negotiation process; (8) relevant statutory and case law; and (9) essentials for a down market.
RDEV 688R Affordable Housing - Roots and Rudiments (3)
The course consists of an examination of public policy and private actions to promote the development and operation of affordable housing for lower income families. This embraces an historical and analytical survey of key challenges to the enterprise, focusing on approaches - failed and successful - designed to ameliorate such problems, and includes broadly related aspects of community development. The course utilizes an assigned textbook, two or three leading court decisions, contemporary academic reports and analyses, and expert practitioner guest lecturers.
RDEV 688X Introduction to Principles, Practice and Process of Real Estate Development (3)
The course provides an overview of the real estate development process from entitlement to site and financial analysis. Through the prism of market analysis and valuation, we will explore the factors of supply and demand for a variety of residential and commercial land uses. The course includes guest lecturers representing a variety of professions engaged in the real estate industry including practitioners in development, law, finance, brokerage and analysis. Team projects include conducting market and valuation analysis of actual projects within the Washington Metropolitan area.
RDEV 688Y Practical Issues in Sustainability (3)
This is a practical issues course addressing the business impacts and drivers of sustainability. Students taking this class will receive broad-based business issue exposure to a wide range of sustainability-oriented topics and be challenged to think about the business issues and impacts of sustainability across numerous subject matters. The goal is for students to apply macro insights gained from this class to their ongoing curriculum, coursework class assignments, and professional careers.
RDEV 689B Financing and Investing with Historic, Low-Income and New Market Tax Credits (3)
Many new income producing real estate projects as well as many rehabilitation projects meet the criteria for various tax credits (federal, state and local) making tax credits a potential equity source for a wide variety of projects. To qualify for tax credits, a developer must understand the various tax credit programs, their application, impact on the project and project structure, the monitoring and reporting requirements, and the syndication and investment markets to turn credits into equity. This course provides an understanding and, through various spreadsheet exercises, practical application on how the rehabilitation tax credits (historic), low-income housing tax credits, and new market tax credits - are used to enhance equity.
RDEV 689F Advanced Real Estate Finance: Real Estate Repositioning (3)
Real estate companies, banks and investment firms face strategic challenges during rapidly changing economic cycles. This course will focus on strategies in analyzing markets, repositioning troubled assets/debt, cost control techniques and managing internal change and conflict during uncertain times. The course incorporates lectures, class discussion, case studies and guest lecturers. The guest lecturers include; real estate transaction workout/bankruptcy attorneys, bankers, finance executives, real estate developers, market analysts and strategic planners. Topics include:
* Evaluating financing sources and structures
* Monetary and non-monetary loan default resolution
* Developing an asset or portfolio plan
* Purchasing and selling real estate in a credit constrained market
* Bankruptcy and consensual workouts
* Developing and implementing workout plans and alternative strategies
* Evaluating your overall position within the market
* Strategic planning in a rapidly changing economic environment
RDEV 689K International Development Challenges and Practices (3)
This course will acquaint students with the international real estate development industry, and its process, etiquette, particulars between internal regions within a state and illustrate a broader understanding of regulatory differences between foreign and US practices. Understand the motivations and the cultural differences encountered by US developers overseas as well as the nature of development, regulatory, political and economic perspectives in the global arena. Explore legal issues and ethical choices with oversight provided by the Foreign Corrupt Practices Act. The course will give a basic understanding to the student who is considering a career in international development.
RDEV 689L Risk Management for Real Estate Developers (3)
This course focusses the students' attention on pure risk (as compared to speculative or transactional risk). The course includes a visit to a local shopping center to understand property and liability hazards, guest lectures on habitational risk issues and environmental risk issues and a final project that requires the students to apply conceptual and practical risk management strategies to a fictional real estate portfolios.
RDEV 689P; 689Q, 689R Public Private Partnerships (1)
The series of 1 credit courses is designed to introduce and familiarize students with the predevelopment process for Public/Private Partnerships. Students will assess the attractiveness of multiple RFQ/RFPs for different project types including downtown redevelopment, new town centers and transit-oriented development. Students will also apply market demand theory, complete site capacity models and complete mixed-use developer pro formas to determine financial feasibility. Students will prepare public economic impact models to determine job creation and tax revenue impact of real estate development. Students will also learn about different public funding sources including the application of Tax Increment Financing (TIF) and New Market Tax Credits (NMTC) to assist in gap financing. Includes lecture, hands-on lab assignments (Financial Modeling) and site visits to notable public/private developments around the Washington DC area.
RDEV 690 Capstone Project/Thesis in Real Estate Development (3)
This is the culminating course styled as an independent study course, directed by a faculty member, that will provide two alternative options; a) Practice Based - marketing feasibility analysis of a proposed project, its schematic design and cost estimation and complete financial analysis that may be in a stuido group format or independent study, or b) Research Based - an approved analytical or theoretical paper to explore relevant development topics or problems.