Real Estate Development and Finance 2
Further develop your real estate finance knowledge
This course builds on the knowledge and skills from Real Estate Development and Finance I (CPE 119/HSK 825) to provide more nuanced study of financing options available to buildout development projects. Learn through a combination of peer collaboration, active, real-world examples from across Canada, and expert guest speakers from the real estate sector. This course includes topics related to common forms of borrower structure, limited partnerships, joint ventures, profit and equity waterfall distributions, 1st and 2nd mortgage financing options, A/B mortgages, lender syndications, VTB’s, and CMHC-insured financing programs.
In-person classroom session: TBD
Site visit: TBD
Live online session: TBD
Investment: *$995
Commitment: 18 hours
*$995 if registered 30 days prior to course start date. $1095 if registered within 30 days of course start date.
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 explain each structure's benefits as it relates to the financing decision.
- Analyze the benefits of various acquisition methods used to acquire land.
- List the basic features of mortgage agreements, including first and second charges, 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 a project pro-forma for an existing cash-flowing asset to be used to secure long term financing.
- List the various buyers of real estate assets upon completion.
- Identify the familiar sources and providers of commercial real estate debt across the risk spectrum.
The following course must be completed prior to registering for Real Estate Development Finance 2:
CPE 119 - Real Estate Development and Finance OR HSK 825 - Real Estate Development and Finance
Aaron Forbes, Senior Director, MCAP Financial Corp.