PLAN71042
Real Estate Investment and Finance
20
Semester 1
Postgraduate Taught
Level 7
Yishuang Xu
Unit coordinator
1
FHEQ level (Framework for Higher Education Qualifications) ' Masters/Integrated Masters P4 '
European Credit Transfer & Accumulation System Rating : 10.0
<p> This module is a combination in the context of investment and finance. It aims to comprehensively examine the broad investment markets and to place into context the role of real estate as an investment asset by examining alternative investment vehicles.</p>
<div>
<p>The module will examine asset valuation and the principles of portfolio diversification across a wide variety of asset classes including: equities, debts and derivatives markets. Also, the module will equip students with knowledge of debt instruments, risk mitigation techniques, and debt securitisation used in the financing of real estate, and the structuring of debt instruments as investment products.</p><p>Through the case studies and discussions, the students will be equipped with knowledge of the real estate capital markets, which will not only include the details on the structure of securities and markets but also examine how they can be used in the context of issues such as real estate portfolio construction and asset allocation, hedging and financing. Through exercises the students will develop competence in the application of quantitative techniques. Though the assessment process the students will be able to undertake an evaluation of a real estate asset and then build on that experience to evaluate a portfolio of investments.</p></div>
<p> </p>
<p> This module is a combination in the context of investment and finance. It aims to comprehensively examine the broad investment markets and to place into context the role of real estate as an investment asset by examining alternative investment vehicles.</p>
<div>
<p>The module will examine asset valuation and the principles of portfolio diversification across a wide variety of asset classes including: equities, debts and derivatives markets. Also, the module will equip students with knowledge of debt instruments, risk mitigation techniques, and debt securitisation used in the financing of real estate, and the structuring of debt instruments as investment products.</p><p>Through the case studies and discussions, the students will be equipped with knowledge of the real estate capital markets, which will not only include the details on the structure of securities and markets but also examine how they can be used in the context of issues such as real estate portfolio construction and asset allocation, hedging and financing. Through exercises the students will develop competence in the application of quantitative techniques. Though the assessment process the students will be able to undertake an evaluation of a real estate asset and then build on that experience to evaluate a portfolio of investments.</p></div>
<p> </p>
<ul>
<li>
<span style="font-size: 12px"><em>Explore the principles of investment and the creation of value </em></span></li>
<li>
<span style="font-size: 12px"><em><span style="font-size: 12px"><em>Critically evaluate direct and indirect methods of investing in real estate </em></span></em></span></li>
<li>
<span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em>Demonstrate approaches used in financing of funds and individual projects</em></span></em></span></em></span></li>
<li>
<span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em>Introduce the various techniques in commercial real estate finance and to examine how risk and reward can be shared</em></span></em></span></em></span></em></span></li>
<li>
<span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em><span style="font-size: 12px"><em>Examine the role of real estate in a mixed asset portfolio</em></span></em></span></em></span></em></span></em></span></li>
</ul>
<p> </p>
<ul><li>Demonstrate an understanding of different classes of investment, the role of direct and indirect property investment, and the structuring of debt and equity instruments as investment products</li><li>Have an overview of the current real estate finance market</li><li>Understand, analyse and compare alternative real estate funding techniques</li><li>Demonstrate a critical understanding of debt instruments, risk mitigation techniques and debt securitisation used in the financing of real estate</li></ul>
<ul><li>Undertake portfolio review and strategic investment decision-making</li><li>Apply and critically analyse measures of real estate investment performance</li></ul>
<ul><li>Construct robust models to analyse and value real estate investments</li><li>Anticipate real estate investment problems and structure appropriate solutions</li></ul>
<ul><li>Collect and interpret quantitative and qualitative data</li><li>Effectively communicate ideas and concepts orally and in writing</li></ul>
<p> This module is delivered entirely by distance-learning. You will receive access to the online virtual learning environment which will contain the learning materials and the online tools required to interact with tutors and your fellow students.</p>
<div>
<p>The learning materials have been specifically designed to provide an interactive and carefully structured introduction to each topic, guidance on further reading, opportunities for reinforcement activity (checking that you can apply your knowledge) and formative feedback (monitoring your progress and identifying ways to improve).</p><p>The material is designed to allow you to study in a flexible manner (at your own pace) but there will be certain points during the block of study when summative (tutor-assessed) work will need to be submitted.</p><p>The course materials should be considered as the starting point for your study of the subject and you should read as much professional literature (professional body publications, market reports and periodicals) and academic literature (textbooks and refereed journal articles) as you can.</p></div>
<p> </p>
<p>Assessment:</p><p>Online test (open book) of understanding of basic investment and finance definitions, and application to real estate practice (1 hour) 10%</p><p>An professional report on portfolio selection for a real estate fund based in the UK (4000 words) 90%</p>
<p>Detailed feedback on summative assessments will be provided via Blackboard. This will be in written or audio format</p>
PLAN71042 RE DL Conditions (Programme 07880)
MSc Real Estate Distance Learn
MSc Real Estate DL
PGDT Taught Component
Mandatory
MSc Real Estate
MSc Real Estate
PGDT Taught Component
Mandatory
N
<div> Baum A. (2015) Real Estate Investment: A Strategic Approach (3rd Edition), Abingdon: Routledge</div><div> Brown G. and Matysiak G. (2000) Real Estate Investment: A Capital Market Approach, Harlow: Financial Times (Prentice Hall)</div><div> Enever N., Isaac D. and Daley M. (2010) The Valuation of Property Investments (7th Edition) Oxford: EG Books</div><div> Isaac D. and O’Leary J. (2011) Property Investment (2nd Edition), London: Palgrave Macmillan</div><div> Cuthbertson, K. and Nitzsche, D. (2008) Investments, 2ndEdition Chichester: Wiley </div><div> Bruggeman W. B. and Fisher J. (2010) Real Estate Finance & Investment, 14th edition, </div><div> Irwin McGraw-Hill Geltner, D., Miller N., Clayton, J. and Eichholtz, P. (2007), Commercial Real Estate Analysis and Investments, Arizona: South-Western Educational Publishing </div><div> Ball, M., Lizieri, C., and MacGregor, B.D. (1998) The Economics of Commercial Property Markets, London: Routledge </div><div> Baum, A. and Hartzell, D. (2011): Global Property Investment - Strategies, Structures, Decisions, Oxford: Wiley Blackwell </div><div> Brooks, C. and Tsolacos, S. (2010) Real Estate Modelling and Forecasting, Cambridge: Cambridge University Press </div><div> Chan, S. H.; Erickson, J. and Wang, K. (2003) Real Estate Investment Trusts: Structure, Performance and Investment Opportunities Oxford: Oxford University Press </div><div> Imperiale, R. (2002) Real Estate Investment Trusts: New Strategies for Portfolio </div><div> Management, New York, John Wiley and Sons Inc </div><div> Linneman, P. (2011) Real Estate Finance and Investments, 3rd Edition, Philadelphia: Linneman Associates </div><div> Lizieri, C. (2009), Towers of Capital, Oxford: Wiley-Blackwell </div><div> Westerfield, R. and Jordan, B. (2012) Fundamentals of Corporate Finance, 8th edition, Boston: McGraw Hill </div>
Lectures
15
0
135