Building upon the knowledge and skills from Real Estate Development and Finance, this course takes a more detailed look at finance and corporate/legal structures available to today's real estate developer. Delivered in partnership with the Real Estate Development Institute (REDI), Canada’s leader in Real Estate Development education, this course will examine corporate structures, including limited partnerships, joint ventures, private and public corporations, and private trusts; land purchase and construction finance, such as vendor arrangements, conventional finance best practices, syndications, mezzanine finance, and participation arrangements; and take-out arrangements including long-term finance, corporate sales to institutional investors, REITs, limited partnerships, public companies, private high net-worth investors, and syndications. Facilitated by industry experts, their local perspective on real estate development will provide learners with a realistic and practical understanding of the complexities of real estate development in Calgary and beyond.
Program delivery: In-Person
Commitment: 18 hours
Grant funding: This program could be eligible for grant funding that can cover up to 2/3 of the program costs. An Executive Education team member can help you bundle courses to meet the minimum hours needed for eligibility. For more information: email@example.com.
Participants come from a variety of fields including real estate development, banking, government, architecture, planning and engineering. The program is aimed for those who aspire to work in field of real estate development, expand understanding of the development process, and benefit from local expertise, perspectives and gain hands-on experience.
Participants who attend this course will learn to:
- Identify the various types of legal structures that are used to acquire, develop, and divest real estate assets and compare and explain each structure's benefits as it relates to the financing decision
- Compare and analyze the various acquisition methods used to acquire land and list the benefits of each option
- List the basic features of mortgage agreements, including first and second charges, and other types of private financing transactions and the legal framework supporting these agreements
- Compare 1st and 2nd mortgage returns and assess risk relative to the positions taken by each type of lender
- Assess various equity capital structures used to finance real estate projects and how they influence the securing of project debt
- Develop project Pro-forma for an existing cash-flowing asset to be used to secure long term financing
- List and compare the various buyers of real estate assets upon completion
- Identify the familiar sources and providers of commercial real estate debt across the risk spectrum
Aaron Forbes attended the University of Calgary majoring in Economics and became a CFA Charter holder in 2013. He is a licensed member of the Real Estate Council of Alberta and has completed the Mortgage Associates Program. In 2007 he joined MCAP’s Development Finance Group in Calgary as a Junior Analyst and through subsequent promotions is currently a Senior Director with the firm. In his current role, Aaron is responsible for the origination, negotiating, and underwriting of construction loan facilities for apartment condominium, purpose built rental, land servicing, commercial, and mixed-use projects. To date Aaron has been involved in the structuring of more than $2 billion of real estate transactions throughout Western Canada including first and second mortgages and has completed syndications with most major Canadian Banks, Alberta based lending institutions, pension funds, and life insurance companies. In 2012, Aaron spent two months volunteering in Phnom Penh, Cambodia with the Sovann Phoum Organization, a non-profit micro credit lender. He currently sits on the Board of Directors for KV Mortgage Fund Inc., a private Edmonton based lender, as an independent member and serves as a member of the Lending Review Committee.