|Fundamentals of Commercial Real Estate|
The Commercial Real Estate Industry touches virtually every aspect of business in the United States and most of the free world. Very few companies can grow without acquiring more land or additional office space, patients can't use the services of a hospital unless it's constructed and consumers can't shop at a Wal-Mart without the development of Real Property.
Commercial Real Estate encompasses all aspects of sales, leasing, management, investment in or improvement of retail property, investment property, farmland, businesses, industries, medical facilities and dozens of other types of property.
Some commercial associates specialize in particular types of property, such as office property, developable farmland or even amusement parks. Other commercial associates specialize in particular forms of consulting work for Real Estate Investment Trusts, insurance companies or utility companies. Still others work in specialized areas such as resort management or assist government agencies with redevelopment of industrial sites or reclamation of land.
Upon completion of this course, the student should be able to understand:
- Various commercial and investment real estate categories and the classifications of office properties
- Differences between usable area, net rentable area, and common area
- The importance of research and analysis
- The importance of zoning regulations, market areas and comparable properties
- Different sources of compiling market data, vacancy and absorption rates
- The benefits to owning investment real estate and the different types of real estate investors
- Investment income, capitalization rates are and how they are used in investment real estate
- The importance and functions of commercial real estate leases
- The objectives in leasing property from a tenant's perspective and landlord's perspective
- Different types of leases and common lease clauses
- The differences between the borrower's perspective and the lender's perspective when it comes to commercial real estate lending
- Commercial real estate financing terms, closing costs and amortization schedules
- Different types of commercial loans and their qualifications
- Course Introduction
- Introduction to Commercial Property
- Data Gathering & Property Analysis
- Investment Analysis
- Commercial Leases
- Introduction to Commercial Mortgages