Learning objectives
The course is aimed at providing the knowledge and the techniques of fundamental analysis for the professional investment of financial resources in the real estate field. As the sector grew more and more financial, in fact, the need for new tools became evident and innovative methods of intermediation and financing started to spread. <br />
Following the initial presentation of the economy of the real estate market, the problems of evaluation of the performance / risk of the investments and the real cost of real estate financings are evaluated. The different real estate investment funds’ management and types are then addressed. <br />
The strategies of dynamic management of wide real estate assets from institutional investors are eventually addressed, including spin off and of securitization operations and real estate projects financing. <br />
Course unit content
The real estate market: trend and perspectives. The real estate sector financing. The performance of a real estate investment: techniques of evaluation. The real estate investment risk: measurement and management. Correlation between risk and performance of a real estate asset and a real estate portfolio. The real estate investment in a multi-asset portfolio: mortgage, leasing and special vehicle purpose. Italian real estate funds: legal and tax issues. Italian real estate funds: management problems. The quote of real estate funds: analysis of determinants. An economic and financial comparison among instruments of real estate investment. Real estate investments of institutional operators. Real estate spinoff. Securitization in real estate sector. Project finance. An historical view of real estate investments. Real estate investiment: trend and perspectives. The financial communication about real estate investments.
Teaching methods
Oral lessons and seminaries
