BUAD 6307 - Real Estate Investments

(4) Prerequisite(s): BUAD 5027 and BUAD 5127

Real Estate has become an established asset class in which private individuals and institutions, pensions, life companies and foreign investors have increasingly invested. This is due largely to real estate’s large investable universe, high yield, low volatility and diversification characteristics, resulting in potentially enhanced diversified portfolio risk-adjusted returns. Broadly speaking, real estate’s investable universe can be categorized into four quadrants, based on whether the investment is public or private, and whether the investment is equity or debt. While each quadrant has distinct investment characteristics, the underlying property and its ability to generate rental income ultimately drives investment performance. As such, an understanding of real estate property types, markets, underlying assets and tenancy, along with the respective space and capital markets in which an asset operates, is necessary when analyzing an investment opportunity. Additionally, an understanding of the various real estate investment vehicles, strategies and structures is important, especially when considering a real estate investment in the context of a multi-asset portfolio. In this course, students will explore each of these and several related topics that will improve their understanding of the real estate asset class, and if desired, prepare them for exciting careers in the real estate industry.