Structuring Institutional Real Estate: Terms & Fees
This course will examine the importance of investment structuring and how it can independently have a large impact on investment returns, liquidity and risk. This includes the advantages and disadvantages of different structures based on considerations such as vehicle structure, legal agreements and term sheets, fee structures, tax efficiency, governance, liquidity, compliance and leverage. The focus will be on knowing what issues are important when deciding on a particular structure to use for a particular investment and investor. One or more case studies will be used to illustrate different structures to meet different investor objectives. The sharp legal minds of Mayer Brown’s Chris Odell and Brian May guest lecture to help guide the course through the thorny legal concerns.
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ABOUT THE CERTIFICATE PROGRAM
The collaboration between the National Council of Real Estate Investment Fiduciaries (NCREIF) and the Southern Methodist University (SMU) Cox School of Business in Dallas, Texas, opens a unique and exciting opportunity for professionals pursuing a career in institutional real estate investment. It is also a great way to earn valuable CE credits.
NCREIF member firms include the leading investment management firms with over $500 billion of capital invested in apartments, office, retail, industrial and other types of large‐scale commercial property. This certificate program has been designed specifically to cover the concepts and techniques needed to be successful in a career related to institutional real estate investment, including investments managed directly, or by investment management firms, on behalf of pension funds, endowments, foundations, and high‐net worth individuals.
Six courses are required to complete the certificate program. Topics range from fundamental theories to cutting edge tools and methodologies of industry practice. The curriculum combines the research and expertise of university professors and instructors with the practical knowledge and experience of industry leaders from among NCREIF’s member organizations. Our line‐up of faculty are globally-renowned thought leaders, practitioners, and sought‐after consultants in these topics and are great instructors. The program blends the vast experience of NCREIF with the technical prowess of faculty from universities whose academic careers have also involved working with institutional real estate investors.
Students will be exposed to case studies, hands on analysis of investments, and the use of NCREIF’s, and other databases, to evaluate markets and construct indices. Students will also find this an excellent networking opportunity, and the intellectually vibrant Southern Methodist University environment is perfect for summer learning. Courses are also periodically taught in conjunction with NCREIF’s annual conferences.