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BUSI4Z315: INVESTING IN AND FINANCING OF REAL ESTATE

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Type	Open
Level	4
Credits	15
Availability	Not available in 2023/24
Module Cap
Location	Durham
Department	Management and Marketing

Prerequisites

None.

Corequisites

None.

Excluded Combinations of Modules

None.

Aims

To enable students to acquire and demonstrate a specialist knowledge and understanding of advanced techniques in real estate investment and finance as well as of the European investment vehicles for real estate.
To enable students to develop a critical understanding of the key aspects and drivers as well as of the underlying assumptions of real estate investment analysis.

Content

Real estate investment vehicles.
Real estate investment analysis.
Traditional real estate financing.
Innovative real estate financing.

Learning Outcomes

Subject-specific Knowledge:

Upon successful completion of the module, the students will have a specialised knowledge and critical understanding of:
open-ended mutual property funds;
open-ended special property funds;
closed-end property funds;
real estate investment trusts;
real estate investment analysis;
investment analysis with tax and without tax;
innovative real estate financing;
new forms of innovative real estate financing (Mezzanine Financing, ABS, CMBS, RMBS etc);
changes due to the Basel I and II accords;
asset securitisation.

Subject-specific Skills:

Upon successful completion of the module, the students will have developed specialist skills in the application of spreadsheet analysis with regard to financing real estate as single objects and within the portfolio context.

Key Skills:

Written communication; Interpersonal communication; Oral communication; Teamwork; Planning, organising and time management; Problem solving and analysis; Using initiative; Computer literacy.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

Learning outcomes will be met through a combination of lectures, group work, case studies, class exercises and discussions, supported by guided reading.
The assessment of the module by written assignment is designed to:
test the acquisition and articulation of knowledge and critical understanding;
test skills of application and interpretation.

Teaching Methods and Learning Hours

Activity	Total	Monitored
Full-day sessions combining lectures, group work, case studies, class exercises and discussions	28	Yes
Preparation and Reading	122
Total	150

Summative Assessment

Component: Individual Written Assignment		Component Weighting: 50%
Element	Length / Duration	Element Weighting	Resit Opportunity
Individual Written Assignment	2,000 words (max)	100

Component: Group Presentation		Component Weighting: 50%
Element	Length / Duration	Element Weighting	Resit Opportunity
Group Presentation	30 minutes	100

Formative Assessment

Classroom-based exercises involving individual and group analyses and presentations on specific business situations/problems relevant to the learning outcomes of the module. Oral and written feedback will be given on a group and individual basis as appropriate.

More information

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