Note: The next session of REIT School is scheduled for June 2010. The material below is from the most recent (December 2009) session.

To receive information on the June 2010 session as it becomes available, click here.

Day One

Registration opens at 8:00 a.m. Session begins at 9:00 a.m.

Morning

The Fundamentals of Instiutional Real Estate Finance

• How real estate assets make money and how their operating models work
• An introduction to market analysis and forecasting
• The characteristics of real estate market cycles
• The competitive and strategic issues facing REITs today
  

REIT Financial Statement Analysis

• The sources of financial data necessary for evaluating a REIT’s economic health and risk/return profile
• Dissecting the line items of REIT financial statements

Afternoon

Evaluating REIT Fixed-Income Analysis

• How fixed income analysts look at REIT(s)
• The qualitative factors, quantitative measures and benchmarks underlying corporate debt analysis

Valuation and Mergers & Acquisitions

• Issues surrounding REIT M&A
• Multiple approaches to evaluating and structuring deals

Day One concludes at approximately 5:30 p.m. Networking reception follows.

Day Two

Session begins at 8:30 a.m.

Morning

Accessing and Managing Capital

• Methods and options for raising capital
• The advantages and drawbacks of balance sheet management strategies
• The impact of leverage upon market value

Afternoon

Restoring Credit and Confidence in Commercial Real Estate

• The magnitude of the credit crisis for real estate
• Unlocking credit markets through the Financial Stability Plan and other federal government initiatives
• Capital access and restructuring in the REIT industry

Property Analysis

• The methodology and processes of property acquisition
• The competitive nature of property acquisitions in commercial real estate
  at-large
• Analytical tools for evaluating property values
• The outlook for cap rates, capital flows and buyer/seller activity

Investing in REITs: A Case Study

• A hands-on analysis and valuation of a REIT as a potential investment or acquisition candidiate
• Employs the metrics and methods presented in the preceding sessions

Day Two concludes at approximately 5:00 p.m.

While Attending

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