3 credits
Fall 2026 Lecture Upper Division
In this course, students explore the world of real estate finance and capital markets from the perspectives of investors, lenders, fund managers, and other capital allocators. Diving into essential topics like deal structuring, waterfall analysis, debt management, real estate private equity, taxation and regulation, public incentives, mortgage-backed securities (MBS), and Real Estate Investment Trusts (REITs). Through hands-on experience, they will learn to model before-tax and after-tax cash flows, price various securities and deal structures, and develop strategies for managing risk and distress at both project and fund levels. With a strong focus on case study analysis, this course will equip students with practical insights and skills to succeed in real estate finance.
Learning Outcomes1Demonstrate a deep understanding of the history and composition of both debt and equity components of real estate capital markets.
2Understand the main drivers of real estate capital flows and capital pricing.
3Describe the structure of residential and commercial mortgage-backed securities.
4Perform a comprehensive valuation of a REIT.
5Structure the capitalization for a given project type.
Prerequisites
Restrictions
made by Purdue students.