A Practical Guide To Real Estate Asset Management.

Learn the most compelling techniques how to add both add and defend value throughout the cycle of ownership of CRE.

What you'll learn

Learn the techniques that a real estate asset manager needs to employ to ensure the acquisition meets the target returns set.

Describe the tasks of an asset managers from acquisition, management and disposal of the asset is explained.

Recognise the difference between different fund styles, what assets they acquire and their objective returns.

Learn the key metrics for an asset manager to both maintain value of the asset as well as to better negotiate with a tenant.

Identify the threats of real estate assets over time so that you can better negotiate or avoid them altogether.

Value the impact of ESG on real estate as well as techniques for defending real estate values when negotiating with tenants.

Design a 360º SWOT analysis that is the tool to detect real estate opportunities in a competitive market.

Requirements

The student should have knowledge of real estate and lease structures.

Knowledge of excel.

The student will not learn how to construct a cash flow or IRR but will learn how to interpret the numbers.

Description

The student is informed that this course contains the use of artificial intelligence for voice dubbing exclusively.Asset management should not be considered to be a passive activity. Both assets and locations change over time, and so do rents. Therefore, it is necessary to analyse what the market is doing and to understand the position of your asset in that market in order to make an informed decision. To make acquisitions, you have to make positive assumptions and logically no one ever sets out to buy an asset to lose money. It is the responsibility of the asset manager to deliver that promise and to navigate the market and changes in the economy, so that returns can be managed to meet the promise as best as possible. If you know how different assets are likely to perform, you should be able to develop a coherent strategy to maximize returns. After this course, you will be able to answer the following questions. What is the difference in strategy between a core plus and a value-add fund? How does an asset manager add value and protect the downside risk? What do investors look for and what are the principal threats faced by property owners? How can you best negotiate against a tenant? And how can one prepare a 360-degree SWOT analysis and business plan? This course will help you to interpret the numbers, but we'll not specifically enter into valuation or cash flows, as it is understood that the student will be able to consult other sources that are more appropriate.

Overview

Section 1: Introduction

Lecture 1 Introduction to course

Lecture 2 Course contents 1/2

Lecture 3 Course contents 2/2

Lecture 4 Who is the course for?

Lecture 5 About the instructor

Lecture 6 Disclaimer

Lecture 7 Definition & introduction to asset management

Section 2: Structure of Fund Management business

Lecture 8 The sources of capital

Lecture 9 Structure of fund & asset management business

Lecture 10 Examples of commercial real estate 1/4

Lecture 11 Examples of commercial real estate 2/4

Lecture 12 Examples of commercial real estate 3/4

Lecture 13 Examples of commercial real estate 4/4

Lecture 14 Categorization of fund styles

Lecture 15 Classification of asset returns

Section 3: Why invest in the different commercial sectors?

Lecture 16 Ranking of volatility per sector

Lecture 17 Performance of assets

Lecture 18 Office sector performance 1/2

Lecture 19 Office sector performance 2/2

Lecture 20 Logistics sector performance

Lecture 21 Retail sector performance

Lecture 22 Residential sector performance

Section 4: Dangers that Asset Managers should prevent

Lecture 23 Danger 1: Loss of purchasing power

Lecture 24 Danger 2: Obsolescence

Lecture 25 Life cycle of a building

Lecture 26 Construction costs of an office

Lecture 27 Construction costs of a warehouse

Lecture 28 CAPEX requirements for different retail assets

Lecture 29 Construction costs of residential assets

Lecture 30 Danger 3: Incorrect market analysis

Lecture 31 How to establish ERV for retail assets

Lecture 32 Modern market standards: offices

Lecture 33 Modern market standards: logistics

Lecture 34 Modern market standards: residential

Section 5: Key Metrics for an Asset Manager

Lecture 35 Initial and Reversionary yield

Lecture 36 IRR, Earnings Multiple and Capitalisation yield

Lecture 37 Gross vs. Net yields

Lecture 38 Over rent and under rent

Lecture 39 ERV and comfort range

Lecture 40 Lease analysis

Lecture 41 Covenant analysis and guarantees

Lecture 42 Security of a lease contract

Lecture 43 Lease duration

Lecture 44 WALT & WAULT

Lecture 45 Expiry of income & risk analysis

Lecture 46 OPEX & CAPEX 1/2

Lecture 47 OPEX & CAPEX 2/2

Section 6: Acquisition & Due diligence process

Lecture 48 Sales memorandum & Due diligence

Lecture 49 Role of the Asset manager during the process of acquisition & due diligence

Section 7: Management of an asset or portfolio

Lecture 50 Asset manager vs. Property Manager

Lecture 51 Asset management tasks

Lecture 52 How to manage a property manager

Lecture 53 Tasks to include in a property management contract 1/2

Lecture 54 Tasks to include in a property management contract 2/2

Section 8: Reporting

Lecture 55 Tasks of an Asset manager

Lecture 56 Tasks of an Asset manager 1/2

Lecture 57 Task of an Asset manager 2/2

Lecture 58 Asset management reporting calendar

Lecture 59 Net operating income (NOI) template 1/2

Lecture 60 Net operating income (NOI) template 2/2

Lecture 61 Monthly & Quarterly reporting

Lecture 62 Annual business plans

Lecture 63 Return calculations: Cash on cash

Lecture 64 Return calculations: Return on cost

Lecture 65 Return calculations: Residual development

Lecture 66 Return calculations: IRR & Equity multiple

Section 9: Hold Sell analysis

Lecture 67 Hold Sell analysis of an asset

Lecture 68 Infrastructure changes in Madrid, Spain

Lecture 69 Old city slaughterhouse: before & after

Lecture 70 Segovia bridge: before & after

Lecture 71 Dam 6: before & after

Lecture 72 Changes in sales prices

Lecture 73 360 degree SWOT analysis 1/2

Lecture 74 360 degree SWOT analysis 2/2

Lecture 75 Strengths

Lecture 76 Weaknesses

Lecture 77 Opportunities

Lecture 78 Threats

Lecture 79 How to score the strengths of the asset

Lecture 80 How to score the strenths of the market

Lecture 81 How to position the asset

Lecture 82 Capitalisation rate calculation

Section 10: How to add value to a portfolio

Lecture 83 Strategic overview to add value to an asset or portfolio 1/2

Lecture 84 Strategic overview to add value to an asset or portfolio 2/2

Lecture 85 Real estate cycles

Lecture 86 Analysis: Rent free

Lecture 87 Analysis: Stepped rent

Lecture 88 Analysis: Tenant incentives

Lecture 89 Turnover rent & Effort ratio

Lecture 90 Acquisition of under-rented & over-rented assets

Section 11: Value destruction

Lecture 91 How prime assets become value add

Lecture 92 Standard errors of an asset manager 1/2

Lecture 93 Standard errors of an asset manager 2/2

Lecture 94 Sale & leaseback investments 1/2

Lecture 95 Sale & leaseback investments 2/2

Section 12: Environment & sustainability

Lecture 96 Environment & Sustainability

Section 13: Key tips for negotiating with tenants

Lecture 97 Investment & accounting 1/2

Lecture 98 Investment & accounting 2/2

Lecture 99 VUCA & asset management 1/2

Lecture 100 VUCA & asset management 2/2

Section 14: Sale process

Lecture 101 Sales process

Lecture 102 Timing of sale for different fund strategies

Lecture 103 Preparation of a sales process

Lecture 104 Sales process: Timing

Lecture 105 Considerations of a successful sale

Lecture 106 Off market deals

Lecture 107 Conclusion

Professionals linked to real estate: agents, property managers, accountants and lawyers who are interested in better understanding the work of an asset manager.,Real estate owners seeking to develop and improve their strategy and returns.,Junior asset manager that seek to learn robust Asset management techniques.