Introduction to Real Estate Fund Management

On this course you will:

• Understand the fund origination; real estate investment and strategy
• Gain appreciation of investment management at the fund level
• Learn the different types of funds and the rationale for choosing a particular type of fund
• Analyse real estate portfolio risk and return
• Learn how to manage real estate risk at the portfolio level

CONTENT

The Economics, size and structure of the Real Estate market

• Introduction to the Real Estate Market
• Investment opportunities and the four-quadrent model
• Value by geography, sector and structure
• Manager or Investor

Direct Real Estate Investment

• Global Economic Environment
• Occupancy Market cycle
• Investment cycle: Dev & asset market
• Credit Market
• Real Estate cycles: Where are we now?
• Direct Real Estate total returns

Introduction to Unlisted Real Estate

• What is unlisted Real Estate and why invest?
• Size and structure of unlisted markets
• Products and Investors
• Direct vs Indirect

Fund Structures

• Financial Services Regulatory framework
• Rationale for choosing a particular type of fund (For example investor type, location and investment powers, asset location, costs)
• Regulatory implications and requirements, including for cross-border distribution

An overview to Listed Real Estate

• What is listed Real Estate and why invest
• Size and Structure of listed real estate
• REITs and access to finance

Real Estate Financial Models

• Basics of Real Estate Financial Modelling and Revision of risk and return metrics calculation
• Drivers of a single asset investment model
• Impact of Opex and Capex considerations

Fund Management & Strategy

• Bottom Up vs ‘Top Down’ approach to Fund Management
• Managing Real Estate risk at the portfolio level

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.