EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT

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1 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT

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3 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT PAGE 3 PROGRAM SUMMARY This Executive Diploma in Real Estate Finance and Investment leads you through the process of selecting and analyzing an investment opportunity, critically evaluating the returns, deciding on the most appropriate way to finance the investment, and critically, understanding the interplay between risk and return. It is specifically designed to combine an understanding of the special features of commercial real estate in the Caribbean and Central American region within the context of globalizing finance and investment. SPECIAL FEATURES OF THIS PROGRAM This program is offered in partnership between Homburg Institute and the Cave Hill School of Business of the University of the West Indies. As such, it offers you a unique combination of international experts from some of the world's top real estate programs, with specific knowledge about finance and the real estate market in the Caribbean from professors of the Cave Hill School of Business. This is the only program that explores global finance and investment techniques in real estate with the and local commercial real estate knowledge specifically related to the Caribbean and Central American region On one hand, banking, finance, and investment flows become more international, while real estate remains place-dependent within a market and within specific legal, regulatory, and cultural traditions. By combining forces, Homburg Institute and the University of the West Indies enable you to follow a unique program that locates the universal best practices in real estate finance and investment analysis within the specific features of local property markets in the region. STUDY ONLINE This program is offered through 100% online study using the most advanced video-based e-learning and live interactive video conference seminars. Students from around the world are invited to take part without having to leave their home or work. You will follow lectures that are professionally produced video presentations that are specifically designed for Homburg Institute's online learning system. You will also take part in Executive-style live interactive video-conference seminars with professors in small groups to maximize your learning experience.

4 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT PAGE 4 PROGRAM STRUCTURE Number of Courses: 7 Number of Credits: 24 RE6009i The Commercial Real Estate Appraisal Process This course will explore the process of appraising commercial real estate, production of a site analysis, and the performance of financial operations for appraisal and valuation. The participants will also discover how a wide range of factors can have financial implications on value, funding strategies and asset selection. This course aims to enhance the decision making process required for the commercial Real Estate professional through the practice of systematic and logical multifactorial analysis application. RE7023 Creating Reliable Valuations This course anchors valuation methodology and outcomes in a broader framework, namely the one of risk, return, and portfolios. This framework creates the ultimate guideline for creating reliable valuations. Hence, this course will help you to describe and quantify that multi-faceted companion to reward: Risk. This course will outline principles of portfolio investment strategy, and compare the concepts and processes of sourcing and underwriting. It will describe the nature of real estate in diversified portfolios, and show you how to identify real estate correlations. You will understand the concepts and methods for due diligence, and compare the operation of internal risk rating systems. By the end of the course, you will be able to describe portfolio management techniques and instruments, including risk and return, and diversification, securitization, hedging, and derivatives. You will also be better able to understand and explain the interaction between the property market and the investment market; RE7019i Real Estate Finance This course provides participants with an advanced knowledge and understanding, appropriate to the Real Estate Finance course; it looks at the theory and practice of finance for investment in commercial real estate and the design and pricing of different mortgage instruments. It looks at commercial mortgages and residential mortgage product, the secondary mortgage market as well as the structure and valuation of mortgage-backed securities.

5 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT PAGE 5 RE6058 Real Estate and the Capital Markets This course will provide participants with an understanding of capital markets. It will explore fundamental economic concepts including Game Theory and its applications. It will look into information economics, adverse selection, moral hazard and the principal agent problem and shall integrate researched and instructor provided case Information on market performance. The course shall also provide the participant a chance to integrate knowledge with application in the areas of; private and public real estate equity, REITS: pricing, functions, return evolution, private investments in real estate, private and public real estate debt, the basics of mortgage-based securities and finally advanced pricing models, incorporating prepayment, option-adjusted spreads, and securitization. RE7033i Global Real Estate Investment This course introduces participants to the fundamentals of global real estate investments. It will cover the strategies and the tools to analyze and value cross-border real estate investments in developed and emerging markets. The course will help the learner to know and apply globalization of economies, international capital flow, the effects of currency exchange on transactions, the basic principles and trends in international investment, cross-cultural relationships, diversity and inclusive real estate practices, marketing and business planning strategies as well as the roles and expectations in international transactions. Real Estate Investment Analysis Case Study Project and Final Paper The Real Estate Investment Analysis Case Study Project and Final Paper course is intended to be flexible to encompass the varying interests and needs of participants. Participants may elect to do a consulting project, or a research project.

6 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT PAGE 6 LEARNING OUTCOMES After completing this program, you will be able to: Understand the principles of real estate investment analysis and be able to apply them to different income-producing properties, including multi-family residential, commercial, and retail real estate. Understand how to recognize an investment opportunity by using the main techniques of real estate appraisal and valuation. Understand the different sources of finance, and financial products in debt, equity finance, and the capital markets. Be able to analyze a real estate investment opportunity, understanding the interplay between risk and the capitalization rates and the internal rates of return of income-producing properties. Determine the optimal capital structure for the investment, taking account of the risk and return. Apply investment analysis to specific hands-on case studies on real estate in the Caribbean and Central American region. IS THIS PROGRAM RIGHT FOR YOU? If you live and work in the Caribbean, Belize, and Guyana, this program will provide you with the skills to make you a globally-competitive real estate investor with specific knowledge of real estate in your home region. If live outside of the region, and you wish to invest in commercial real estate in the Caribbean, you will gain a comprehensive understanding of real estate investment in the region.

7 EXECUTIVE DIPLOMA IN REAL ESTATE FINANCE AND INVESTMENT PAGE 7 If you currently work in real estate as an investor or a broker/manager, you will hone your understanding of real estate appraisal and investment analysis techniques to better identify opportunities and mitigate risks. If you are a certified real estate appraiser, you may be eligible to be exempted from the real estate appraisal courses, yet you will complement your existing knowledge with a new skill set in investment analysis and real estate finance. If you currently work in the banking and finance industry, you will gain the skills to understand the needs of small to large-scale real estate investors, and be able to offer financial solutions best suited to the needs of your clients. You will also gain the ability to evaluate the property values and risks of a financing investment using recognized techniques of appraisal and valuation of real estate assets. If you have a background in business, and you wish to enter the exciting world of real estate investment in the Caribbean region, this program will build upon your existing knowledge and provide you with the knowledge, skills, and confidence to engage in the business of real estate investing. CAREER OPPORTUNITIES As a graduate of this Executive Diploma, you will gain a unique understanding that will prepare you for a career, or enhance your existing career, as a: Property appraiser Private real estate investor Manager for real estate in a bank or financial institution Manager in a real estate development company Real estate financial adviser or consultant Broker/owner of commercial real estate AWARD CERTIFICATION On successful completion of this program, you will be awarded two certificates: one from the University of the West Indies, and one from Homburg Institute.

8 Cave Hill School of Business University of the West Indies Cave Hill St. Michael Barbados Tel: (246) / 7652 chsb@cavehill.uwi.edu Homburg Institute Homburg Financial Tower PO Box 3275 Charlottetown, PE C1A 8W5 Canada Tel: (902) inquiries@homburginstitute.com 2015