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NDC ED202 Real Estate Finance Course
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NDC ED202 Real Estate Finance Course

 Export to Your Calendar 12/10/2018 to 12/14/2018
When: December 10-14, 2018
8:30 AM
Where: Aloft Minneapolis Hotel

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All EDAM members are eligible for 20% off tuition for any 2018 National Development Council class that is not sponsored by a third party. Use the coupon code EDAM2018 to claim the discount.

Real estate development is the focus of ED202, the third course in the National Development Council's EDFP Certification Program™. This course offers a step-by-step look at the real estate development process from the perspective of lenders, developers and investors. Participants analyze economic development real estate projects—retail, office, mixed-use—using the rates of return required by lenders, developers and investors, and determine the appropriate amount of public sector financing needed to make projects feasible. Public sector financing tools and techniques, including tax credits, designed to attract, leverage and complement private financing, are utilized to maximize equity while minimizing the amount of public investment.

 

Specific topics include:

  • Real Estate Financing Process
    • Calculating project costs
    • Projecting the developer’s pro forma
    • Determining debt capacity
    • Measuring equity attracted
    • Quantifying the financing gap
    • Closing the gap

  • Return on Investment
    • Cash-on-cash rate of return
    • After-tax cash flow rate
    • Present value analysis
    • Internal rate of return

  • Appraisals
    • The capitalization rate
    • Three approaches to value
    • Reconciling value

  • Impact of Taxes on Real Estate Ownership
    • Depreciation
    • Leverage
    • Tax credits
    • Taxable gains and losses

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