Real Estate Finance
© JR DeLisle, Ph. D.
Lecture 16 (b): Portfolio Project Examples
byJames R. DeLisle, Ph.D.
March 10, 2010
Real Estate Finance
© JR DeLisle, Ph. D.
Peer Review: Evaluative Criteria
Quality of Content
• Problem Statement/Goals• Overall Logic/Rationale• Portfolio Strategy Statement • Portfolio Assemblage Analysis• Operation Strategy• Conclusions/Recommendations
Quality of Presentation
• Delivery• Organization• Strength of message• Teamwork/Participation• Presentation materials
Real Estate Finance
© JR DeLisle, Ph. D.
Organization
Real Estate Finance
© JR DeLisle, Ph. D.
Problem Statement
Real Estate Finance
© JR DeLisle, Ph. D.
Client Profile
Real Estate Finance
© JR DeLisle, Ph. D.
Strategy
Real Estate Finance
© JR DeLisle, Ph. D.
Stage Setting: Current Environment
Real Estate Finance
© JR DeLisle, Ph. D.
Seattle Real Estate Market
Real Estate Finance
© JR DeLisle, Ph. D.
Criteria
Real Estate Finance
© JR DeLisle, Ph. D.
Property Profile
Real Estate Finance
© JR DeLisle, Ph. D.
Relative Project Performance Indicators
Real Estate Finance
© JR DeLisle, Ph. D.
Alternative Portfolios
Real Estate Finance
© JR DeLisle, Ph. D.
Optimal Mix
Real Estate Finance
© JR DeLisle, Ph. D.
Portfolio Performance
Real Estate Finance
© JR DeLisle, Ph. D.
Operating Period
Real Estate Finance
© JR DeLisle, Ph. D.
Exit Strategy
Real Estate Finance
© JR DeLisle, Ph. D.
Appendix
Real Estate Finance
© JR DeLisle, Ph. D.
Lecture Overview
• Real Estate Development– Timelines– Risk and Return– Risk Management
• Types of Loans– Land Development Loans– Construction Loans– Permanent Loans
• Development Loan Example– Project Profile– Draws– Project IRRs
Real Estate Finance
© JR DeLisle, Ph. D.
Lecture Review
• Real Estate Development– Timelines– Risk and Return– Risk Management
• Land Development Loans• Construction Loans• Permanent Loans• Development Cash Flow Example
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