MODULE SPECIFICATION UNDERGRADUATE PROGRAMMES KEY FACTS Module name Real Estate Finance and Funding Module code FR3202 School Cass Business School Department or equivalent UG Programme UK credits 15 ECTS 7.5 Level 6 Delivery location (partnership programmes only) MODULE SUMMARY Module outline and aims This module aims to give a solid foundation in the appraisal of property development and redevelopment opportunities and the financing and funding of developments and standing investment. You will acquire an understanding of finance techniques and their application to real estate investment and development. You will be able to apply financial techniques to real estate opportunities. Assist and contribute to the finance and funding of real estate investments within investing institutions and/or advisory firms. Content outline - A review of the residual method of evaluation - Market analysis and forecasting - Timing of the planning and development process - Project management - Tenant mix - Redevelopment versus refurbishment - Tenant and investor requirements - Choice of target rate of return - Finance sources Funding of investments
- Risk analysis and hedging WHAT WILL I BE EXPECTED TO ACHIEVE? On successful completion of this module, you will be expected to be able to: Knowledge and understanding: - Understand the use of debt and equity and its application to real estate - Apply discounted cash flow techniques to geared real estate investment and development Skills: - Improve your research & analytical skills - Apply appropriate computing skills - Improve your communication in presentations - Improve team working in preparing and giving in presentations, - Undertake research - Develop report writing skills - Adapt and apply learning from Case Studies - Develop judgement in the selection and application of advanced techniques - Debate, formulate and solve problems Values and attitudes: - Have confidence to advise on real estate finance and funding. - Be aware of real estate investment through the development and redevelopment. - Be aware of the importance of inputs to appraisal and the participants contributing to real estate development. - Be able to explore of the techniques and skills involved in financial appraisal and
raising finance for real estate investment and appraisal HOW WILL I LEARN? Lectures, workshops, excel modelling. Teaching pattern: Teaching component Teaching type Contact Selfdirected study Placement Lectures Lecture 20 130 0 150 Totals 20 130 0 150 WHAT TYPES OF ASSESSMENT AND FEEDBACK CAN I EXPECT? Assessments Coursework and exam. Assessment pattern: Total student learning Assessment component Coursework Examination 2.25 Assessment type Written assignment, including essay Written Exam Weighting Minimum qualifying mark Pass/Fail? 30 0 N/A 70 0 N/A Assessment criteria Assessment Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate in order to complete an assessment successfully and Grade-Related Criteria are descriptions of the skills, knowledge or attributes students need to demonstrate to achieve a certain grade or mark in an assessment. Assessment Criteria and Grade-Related Criteria for module assessments will be made available to students prior to an assessment taking place. More information will be available from the module leader. Feedback on assessment
Following an assessment, students will be given their marks and feedback in line with the Assessment Regulations and Policy. More information on the timing and type of feedback that will be provided for each assessment will be available from the module leader. Assessment Regulations The Pass mark for the module is 40%. Any minimum qualifying marks for specific assessments are listed in the table above. The weighting of the different components can also be found above. The Programme Specification contains information on what happens if you fail an assessment component or the module. INDICATIVE READING LIST Recommended Reading: Brett, M. (1998)- Property and Money, Estates Gazette Brueggeman, W. & Fisher, J. (2001) - Real Estate Finance and Investments (Real Estate Finance and Investments, 11th Ed), McGraw-Hill/Irwin References: Barter et al (1988) - Real Estate Finance, Butterworth Brown, G. & Matysiak, G. (1999) - Real Estate Investment A Capital Market Approach, FT Prentice Hall Fraser W (1998) - Principles of property investment and pricing, Macmillan Isaac, D (1996) - Property Development Appraisal and Finance, Macmillan Rodney, W. & Clark, P. (2000) - Finance for Regeneration, Property Economics & Finance Research Network Property Investment in Urban Regeneration Seminar, Ulster University, September, Belfast Also: Background Reading from various Industry Sources Version: 1.0 Version date: July 2012 For use from: 2012-13
Appendix: see http://www.hesa.ac.uk/content/view/1805/296/ for the full list of JACS codes and descriptions CODES HESA Code Description Price Group 27 Business and Management D Studies JACS Code Description Percentage (%) N230 The techniques involved in the management of land, buildings and similar physical resources. 100