bolger real estate cam 2012
TRANSCRIPT
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Real Estate CAM
Fall 2012
Dr. Ben Bolger
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Who should sign up?
If you are interested in
Real Estate Development
Real Estate Finance
Real Estate Entrepreneurship Understand the Strategic Role of Real Estate
Assets within an Organization (e.g., when should acompany buy or lease space)
Understand the capital markets
How to work for yourself or How to work withothers within a highly competitive industry
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Topics Covered
General overview ofDevelopment
Timeline of a deal
Types of property to
consider Commercial
Mixed-use
Retail
Residential
Land-acquisition How to deal with it
politically/legally
How to deal with thecommunity
Market Research
How to conduct due-diligence
How to walk a property
Reassessments Zoning
Using economic conceptsto analyze real estatemarkets, values, and trends
Consider howurban/suburban/ruralfiscal policy impactsdevelopment
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Topics Covered
Project Financing How to model the project
creating pro-formas
How to raise and structuredebt and equity
Finding public money How to use Argus
How to use it for portfoliomanagement and valuation
Project Investment REITs
Factors that go into theinvestments in real estate
Topics in Real Estate Law Develop legal skills/concepts
in a transactional setting Land acquisition
Finance
Tax Mortgage
Foreclosure
Dealing with localgovernment
Architecture Design andConstruction
Sustainability - LEED
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Topics Covered
Domestic compared withInternational Real Estate
How do different marketscenarios change a
business strategy
Responsibility ofdevelopers/owners
Sustainability Community
Renters
Environmental impact
Home-Buying 101
Learn how to become ahome owner (or a betterone!)
Consider purchasing rentalproperty options
Other topics depending on
the interests of the studentswho sign up for the course
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Course Approach: 7 Stars in 7 Weeks
Each week, we will concentrate on a real estatefocus and bring in industry experts and leaderstoprovide you with real world case studies
Each week we will hear from top seasonedleaders within their fields and also people whoare a few years out of B School. This will enableyou to develop practical skills and understanding
of what you need to do in the next 3-5 years inorder to be successful in real estaterelatedcareers
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Examples of Case Studies:
Related
Examples of likely case studies for this fallinclude:
Ken Himmel & Related
Mr. Himmel has led the development ofgroundbreaking real estate development projects,including the Chicago WaterTower, Copley Place inBoston, and the Time Warner Building in New York.Related is one of the most successful real estate
development companies in the world. We will look at alive case the Hudson Yards which is a 26 acredevelopment project in Manhattan. The complexityand difficult of this project is unmatched.
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Examples of Case Studies:
CapLease
Paul McDowell, CEO of CapLease
We will learn from the head of one of the top internally
managed single tenant commercial property equity
REITs in the nation
Historically, CapLease built a national franchise while
funding and then securitizing or selling several billion
dollars in loans
Today, CapLease has great structured finance expertise
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Examples of Case Studies:
ProLogis
K. Dane Brooksher of ProLogis
We will work with the former CEO of ProLogis on a case
study concerning industrial real estate strategy.
ProLogis is the largest industrial real estate firms that
focuses on global logistics. We will consider how
domestic and global markets relate to one another in
developing a strategic real estate and logistical
portfolio.
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Examples of Case Studies:
Port Imperial
Marshall Tycher & Roseland Properties
Located in West New York, New Jersey, Port Imperial is
a sprawling mixed-use development project that is
situated directly on the Hudson River. We will look at
case studies that compare the advantages and
disadvantages of investments in apartment complexes
(currently a booming sector of the market) with the
complications of holding and selling condominium
complexes (which are challenging products to sell inthis market).
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Examples of questions that we willconsider in the class, include
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What is the Future of Physical Space?
when the online world is deeply changing us
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Should universities still build new libraries?
If everything is going digitalExamples: innovation at Oxford to Harvard
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With technology, do we still need to work in the same
building? How should we bet on office space?(from the Johnson Wax Headquarters to the iPad 3)
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What is new and innovative in Hotels?from Miami to Las Vegas
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How can Retail Survive?
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Why are more super-skyscrapers now being built in developing
countries? Have we seen the death of great super-skyscrapers in
developed countries? Why or why not?
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Museums:Examples of innovation.
What can we learn about
human interaction fromthese pioneering examples?
from New York to Bilbao
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What is the future of Innovative Residential Real Estate?Learning from the greatness can the past teach us about the future?
Case Studies from Frank Lloyd Wrights Fallingwater
and Philip Johnsons Glass House
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Our CAM will take a trip toNew York City
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Yes, New York City
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We will visit the Time Warner Center
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Meet with Top Executives in NYCKENNETH A. HIMMEL
President and CEO, Related Urban
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Mandarin Oriental, NYCLook at top assets
Example: The Presidential Suite that rents for $14,000 per day
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Visit the GoogleHQ of NYCone of the most interesting real estate purchases in
New York history: see innovative office space at its best
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The Yale Club of
New York City:
we will look into the worldof private clubs and other
niche sectors
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We will visit a megaproject on the
Hudson River: Port Imperial
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Port Imperial: an example of innovative apartments
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You will have quality Executive EngagementExample: Dane Brooksher
Former CEO of ProLogis
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You will have a comprehensive experience
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About the instructorDr. Benjamin B. Bolger
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Over 10 Years of Industry Experience
Familiar with many Domestic & International Issues, including the
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y , g
politics of real estate development
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Dr. Ben Bolgers Bio
Dr. Benjamin B. Bolger completed a Master of Science degree in Real Estate Development atColumbia University and a Master in Design Studies in Real Estate at Harvard UniversitysGraduate School of Design. Dr. Bolger completed his doctorate at Harvard, where he focusedon research that pertained to real estate development, urban planning, stakeholderengagement, and interdisciplinary applications of real estate development. He has alsostudied leadership at Georgetown Universitys McDonough School of Business.
While at Harvard as a Teaching Fellow, Dr. Bolger earned the Derek Bok Award for TeachingExcellence. Moreover, Dr. Bolger has taught urban economics at Boston College and urbandevelopment at Boston University. He also worked in the Executive Education program thatsupported Real Estate study at Harvard. While at Harvard, Dr. Bolger received researchfunding from Harvards Real Estate Academic Initiative.
Familiar with academic leadership, Dr. Bolger has served on the Advisory Committee onShareholder Responsibility at Harvard University and the Advisory Committee on Corporate
Responsibility in Investing at Brown University. Dr. Bolger currently serves on the Board ofAdvisors for the Sustainable Endowments Institute, which is a special project of RockefellerPhilanthropy Advisors focused on sustainability and green development.
Beginning college at age 12, Dr. Bolger has a record number of academic degrees. Hisundergraduate degree is from Michigan (4.0 GPA, Phi Beta Kappa). He holds graduatedegrees from Oxford, Cambridge, Stanford, Columbia, Teachers College, Dartmouth, Brown,Brandeis, Skidmore, and Harvard. His first U.S. Patent was earned at age 12.
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If you have anyquestions,
please contact BenDr. Ben Bolger
(617) 497 2637 [email protected]