On-Demand Online ​programs offer users a large library of topics that can be accessed at their convenience. The programs include the same presentations and materials offered in a live online program, but offer the flexibility to take the course when it fits in your schedule. On-demand workshops can be accessed 24 hours a day, 7 days a week.

On-Demand Online Courses
Collapse Best Practices in Multifamily Marketing and Leasing
This new ULI webinar will give you practical insight into making the most of your multifamily marketing dollars and functional tools for improving the performance of your onsite leasing staff.  Developed over years of firsthand experience, data collection, and analyses, this program will offer concrete tools and actions to demonstrate where you should and should not be putting your resources. You will learn best practices that will not only attract, but, equally important, retain your residents. Performance metrics and management practices will help you field your most effective leasing staff and keep them on board as well.


Program highlights

  • Media investment
  • Top 10 sources of applications
  • Marketing expenditure analysis
  • Appropriate ad messaging
  • Retention statistics and the marketing plan
  • Performance metrics of leasing professionals
  • Aligning to the owner’s objectives
  • Onboarding, training, and career planning

Formats Available: Streaming
Original Program Date: February 04, 2015
On-Demand Release Date: Available Now
MORE INFOMORE INFO Best Practices in Multifamily Marketing and Leasing
Collapse Construction Contracting and Management for the Developer

Contracting for and managing the the design and construction process is among the most important facets of real estate development. But managing risks and relationships in this multifaceted endeavor is often not well-understood by real estate professionals. The half-day primer will provide you with a brief, but solid introduction to the process from the viewpoint of the real estate developer. You will acquire a better understanding of construction contracts, contract pricing, and considerations in hiring construction professionals. Learn the various players in the process and what you should and should not expect from them in their roles, including the public sector. And gain insight into how best to manage change within this complex and at times unpredictable process.


Program Highlights

  • Overview of the complex, multidisciplinary construction process
  • Introduction to the wide range of players and their roles
  • Contract types and their components
  • Construction management vs. general contracting
  • How projects are organized and bought out by construction professionals
  • Matching the timing and type of construction procurement and contracting with your project
  • How to price and structure the best construction contract to protect your interests
  • What to expect in terms of who actually does the work
  • Managing change and risk in the construction process

Formats Available: Streaming
Original Program Date: February 23, 2016
On-Demand Release Date: Available Now
MORE INFOMORE INFO Construction Contracting and Management for the Developer
Collapse Data Centers: A Foundational Primer
The advent of Big Data has more sharply focused attention on the development of Data Centers. Data centers are perhaps the most complex and sophisticated buildings being constructed today, requiring redundancies and resiliency well beyond other property types. Yet to many the precise function, components, users, and business models of data centers are not well known or understood. Held over two sessions, this new ULI online workshop will provide a functional introduction to the history, infrastructure, economics, and building technology that make up the modern Data Center. 
Formats Available: Streaming
Original Program Date: February 25, 2014
On-Demand Release Date: Available Now
MORE INFOMORE INFO Data Centers: A Foundational Primer
Collapse Hotel Pro Forma Development for the Beginner
Held over four sessions, this new online workshop will guide students step-by-step through the construction of a development pro forma for a mid-size hotel property. Beginning with a blank spreadsheet, the program will take students through the entire project from development through sale. Students will be instructed in the basic differences between a hotel pro forma model and other asset classes such as office or multifamily and the corresponding inputs and structure. At the end of the last session, participants will have completed their own hotel pro forma that will actively link to a cash flow page, allowing students to understand the basic valuation of a hotel and how investment decisions are made. 

Each session of the workshop is designed to build on the previous one with each participant having a completed pro forma model at the conclusion. Participants will use learned skills to independently build individual sections and maintain the pace of the workshop. However, to avoid the possibility of anyone falling behind, the completed stages will be distributed the evening of each completed workshop. At the conclusion of the workshop, the instructor’s copy will be distributed, which will provide, at a minimum, a working hotel pro forma model for each participant.
Formats Available: Streaming
Original Program Date: March 28, 2013
On-Demand Release Date: Available Now
MORE INFOMORE INFO Hotel Pro Forma Development for the Beginner
Collapse Managing the Land Development Process for a Small Scale Development
This new ULI webinar will offer a unique primer on the developer’s role in managing the site development process, also known as horizontal development. The program will provide an informative overview of this process, including experience-based best practices in engaging with the numerous consultants, contractors, designers, and utilities that are involved.

The program will include guidelines into preparing bid requests, as well as best way to compare and evaluate bids. Managing and working with public utilities will be addressed in detail, as well the developer’s interactions with lending sources, property owners associations, and project marketing. Concepts will be illustrated through real-world examples.

Program Highlights
  • Identifying the scope work
  • Letters of interest and why you should use them
  • Steps to bidding the project – accurately documenting the RFP
  • Managing consultants (engineers, architects, attorneys)
  • Finding and managing different types of contractors simultaneously
  • Managing the required entitlements
  • Coordinating with utility providers (gas, electric, phone, cable, etc.)
  • Monitoring the schedule
  • Handling pay requests
  • Turn-over of facilities
Formats Available: Streaming
Original Program Date: September 13, 2016
On-Demand Release Date: Available Now
MORE INFOMORE INFO Managing the Land Development Process for a Small Scale Development
Collapse Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
Fluid and collaborative communication among the developer, marketing, and management teams throughout the development process is critical for a successful, revenue-producing multifamily development.  The earlier the marketing and management teams are engaged and involved, the greater the opportunity for a successful lease-up.  

Strategic project planning by discipline and outlining key milestones is a standard protocol within the multifamily development industry.  However, the merging and realignment of key milestones across disciplines and at key decision points in the multifamily housing development process is often overlooked. This can result in a failure to optimize overall revenue potential. 
Using ULI’s eight stage model of real estate development, this  webinar will provide a practical guide to integrating management and marketing project plans at each stage to optimize operational efficiency, revenue generation, and lease-up.  

Attendee Takeaways:
  • Innovative and practical applications for each step of the process
  • Case study examples of successful and unsuccessful collaborations and their implications
  • Rule of thumb models for budgets and projections
  • A high-payoff collaborative activity checklist
  • Best practice collaboration methods 

Formats Available: Streaming
Original Program Date: December 19, 2013
On-Demand Release Date: Available Now
MORE INFOMORE INFO Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
Collapse Underwriting Office and Multifamily Real Estate Investments

Held over two sessions, this new online live program will introduce students to a process-oriented approach for evaluating office and multifamily investments from a physical and financial perspective. Each session will introduce theoretical investments and lead participants step by step through the areas of highest importance when evaluating these two product types for investment. Particular focus will be paid to underwriting the physical product, the surrounding market and existing tenancy, and the implications of these on the cash-flow development process. Instruction will be provided through case study materials that simulate the information and data one would receive in a typical transaction. Participants will conclude the workshop with a much more refined understanding of how to engage in a thoughtful process for evaluating an office or multifamily asset for acquisition. Each person will also receive a checklist of critical items to consider when underwriting an office or multifamily asset in the future.

Formats Available: Streaming
Original Program Date: August 09, 2016
On-Demand Release Date: Available Now
MORE INFOMORE INFO Underwriting Office and Multifamily Real Estate Investments
Collapse Video: Real Estate Development Process: Part I
Real estate development is a complex and continually evolving business. To effectively develop, finance, or supervise a project, a person needs a fundamental understanding of the process and its many facets. To be successful, a developer must manage not only their own performance, but also the collaboration of numerous professionals representing multiple disciplines. Throughout this process, the developer also must continually identify and mitigate inherent risks that can threaten the viability of the project.

Designed for both public and private sector participants, this newly updated course follows the principal stages of the process chronologically and addresses how each team member’s actions and performance can affect the success and profitability of the project. Emphasizing the iterative and interactive nature of the real estate development process, the course combines a lecture and case study approach. Top industry professionals, drawn from ULI’s membership, serve as course leaders and guest speakers, sharing their insights, experience, and expertise with participants.

The course is broadly structured in three parts:

Preliminary considerations, market analysis, financial analysis, and strategic marketing; 

Site selection and due diligence, land acquisition and deal structure, and entitlements and permitting; and

Planning and design, construction management, and operations and property management.

Hands-on instruction in financial analysis provides students with a fundamental understanding of pro forma modeling basics.
Formats Available: Streaming
Original Program Date: December 05, 2012
On-Demand Release Date: Available Now
MORE INFOMORE INFO Video: Real Estate Development Process: Part I
Collapse Excel Tips and Shortcuts for Real Estate Professionals
Do you know how to use Excel to build quick models but would like to learn how to reuse what you build? The biggest challenge for intermediate Excel users is to learn how to build models that are not only powerful and customized for a particular project, but also contain reusable components. This information-packed webinar will present tips, shortcuts, and strategies so that you can reuse what you build in multiple models and save substantial time.

Attendee Takeaways:
  • Learn how to structure your financial models to maximize efficiency
  • Learn how to build a library of reusable tools
  • Learn how to best plan your “attack” when designing a financial model
Formats Available: Streaming
Original Program Date: October 18, 2016
On-Demand Release Date: Available Now
MORE INFOMORE INFO Excel Tips and Shortcuts for Real Estate Professionals
Collapse Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (June 2017)
This is the second course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 


Building on the first pro-forma modeling course, this four-part online program will help further build the participants' financial modeling and Excel skills. Students will learn more advanced Excel functions for valuation, amortization, rent roll, construction and permanent financing, construction draws, and cash flows.

In each session, students will receive concise direction in spreadsheet construction. At the end of the last session, students will have a complete pro-forma model that can be scaled further to include waterfalls, stochastic processes, portfolio analysis, and visual displays of results.


Each session of the workshop is designed to build on the previous one. Participants are expected to use learned skills to build individual sections and maintain the pace of the workshop. However, as in the first course, the completed stages will be distributed at the end of each session.


Students Will Learn


  • Advanced Excel skills required to build a development pro forma for a multifamily project of any size;
  • Graphically demonstrate the construction draw;
  • Develop the methodology for drawing construction dollars using an S-curve;
  • How to quantify project cash flows; and
  • Additional components to a development pro forma:
    • Rent roll
    • Construction financing
    • Construction draw
    • Permanent financing
    • Scenario analysis to quantify risk.
Formats Available: Streaming
Original Program Date: June 05, 2017
On-Demand Release Date: Available Now

Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (June 2017)
    Collapse Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    This is the third course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 

    This third modeling course introduces students to the theory and practical construction of “waterfalls” for existing and new Microsoft Excel spreadsheet models.

    The waterfall is the method of distributing profits among partners within a transaction. In more complex transactions, profits are not distributed pari passu. (Pari passu is the proportional distribution of profits according to the percentage of capital invested—for example, with an investor who provides 80 percent of the capital receiving 80 percent of the profit.)

    During the first session, students will gain a theoretical understanding of what a waterfall is, as well as be exposed to the Microsoft Excel functions required to construct a waterfall. In the second session, students will construct a waterfall from a blank spreadsheet that can be incorporated into all existing spreadsheet models.
     

    Students Will Learn
    • Basic types of equity partnership distributions.
    • The key inputs to the waterfall distribution from a joint venture agreement.
    • How to model variable-return distributions to the project sponsor and equity investor.
    • Advanced valuation formulas in Excel.
    • How to "bolt on" the waterfall to all existing pro forma models
    Formats Available: Streaming
    Original Program Date: February 13, 2017
    On-Demand Release Date: Available Now

    Approved Credit:
  • ULI: 4.00 hours Attendance

  • MORE INFOMORE INFO Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    Collapse Pro forma Modeling with Excel: The Investment Pro forma (April 2017)

    This introductory course is a four-part online workshop that guides students through the construction and manipulation of a basic multifamily investment pro forma. The program is geared toward individuals who have never completed a pro forma from scratch. Starting from a blank spreadsheet, students will receive step-by-step direction in the creation of this investment pro forma. At the conclusion of the last session, participants will have completed their own investment pro forma and will have gained a new appreciation for how valuation and investment decisions are made. Each session of the workshop is designed to build on the previous one, and each participant will have a completed pro-forma model at the conclusion. Participants are expected to use learned skills to independently build individual sections of the model. However, the completed stages will be distributed at the end of each session. 

    All participants will receive access to the recording of each session. 

    Students Will Learn
    • How to identify the relevant project data required to begin crafting a pro forma;
    • Basic to intermediate Excel skills needed to model an industry-accepted pro forma;
    • Basic components of an investment pro forma:
      • Inputs
      • Amortization
      • Pro-forma income cash flows
      • Valuation.
    • How to construct an amortization table to accommodate three loan types: Constant Payment Mortgage (CPM), interest only (IO), and custom amortization and;
    • How to property format a Pro Forma for an Investment Template.
    Formats Available: Streaming

    Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel: The Investment Pro forma (April 2017)
    Collapse Hotel Pro Forma Development for the Beginner
    Held over four sessions, this new online workshop will guide students step-by-step through the construction of a development pro forma for a mid-size hotel property. Beginning with a blank spreadsheet, the program will take students through the entire project from development through sale. Students will be instructed in the basic differences between a hotel pro forma model and other asset classes such as office or multifamily and the corresponding inputs and structure. At the end of the last session, participants will have completed their own hotel pro forma that will actively link to a cash flow page, allowing students to understand the basic valuation of a hotel and how investment decisions are made. 

    Each session of the workshop is designed to build on the previous one with each participant having a completed pro forma model at the conclusion. Participants will use learned skills to independently build individual sections and maintain the pace of the workshop. However, to avoid the possibility of anyone falling behind, the completed stages will be distributed the evening of each completed workshop. At the conclusion of the workshop, the instructor’s copy will be distributed, which will provide, at a minimum, a working hotel pro forma model for each participant.
    Formats Available: Streaming
    Original Program Date: March 28, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Hotel Pro Forma Development for the Beginner
    Collapse Pro Forma Modeling a Single-Family-Home Community
    Held over four sessions, this new online live program will focus on developing a single-family residential builder pro forma. The program will model and value a 50-lot single-family-home community. The model will assume the developer/builder is working with finished lots. Unlike a typical commercial model, this model does not include construction of an amortization table; instead, a residential builder uses a rolling facility. This construct will be explained in detail in session three of the course. 

    Each session of the workshop will build on the previous one, with each participant having a completed pro forma model at the conclusion. 

    Formats Available: Streaming
    Original Program Date: July 16, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Pro Forma Modeling a Single-Family-Home Community
    Collapse 21st Century Real Estate Portfolio Management: Risk Management in the Age of Derivatives
    This new program will address how real estate risk can be mitigated using financial products, e.g. derivatives, on a portfolio level.  The webinar will review the current state of real estate and how the asset classes are evolving since the 2006 formation of derivative products trading on real estate indices.  The question, “what will real estate look like in the future,” will be the focus.

    The first portion will cover real estate as an asset class and the discipline of applying portfolio fundamentals to a physical real estate portfolio.  The second part will cover new financial products available to real estate portfolio managers and owners for managing and mitigating risks on the physical assets.  A brief overview of futures pricing will be covered at the end to provide a perspective of future direction on real estate pricing and how the capital markets are used for forward price discovery.

    Who Should Attend:
    • Current owners of real estate (multiple sites)
    • Current investors/purchasers/analysts
    • Financial Officers responsible for corporate, portfolio and project risk management
    • Capital providers (equity and debt)

    Formats Available: Streaming
    Original Program Date: November 17, 2010
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO 21st Century Real Estate Portfolio Management: Risk Management in the Age of Derivatives
    Collapse ABCs of Commercial Real Estate Bankruptcy
    Bankruptcy is a ubiquitous term in the commercial real estate business lexicon.  However, relatively few professionals have a fundamental understanding of this somewhat arcane part of the business world and the rights and risks conferred when a bankruptcy petition is filed.  This new ULI webinar will provide an informative primer on the different types of bankruptcy cases (Chapter 7, 9, 11, 12, 13) that can be filed, and the implications they can hold for various stakeholders.  The program will address the rights, risks, and remedies that exist from the perspective of lenders, owners, tenants, vendors, and borrowers. Delivered by a non-attorney, this program will explain the basic processes and procedures associated with a commercial real estate bankruptcy in a clear and succinct manner. This informative program will help you prepare for what is often an unexpected and perplexing business event.

    Program highlights: 

    • Overview of the bankruptcy process
    • Risk quantification for stakeholders (landlords, lenders, tenants, vendors)
    • Timelines – the order of events
    • Types and priority of claims
    • Business operations during the bankruptcy process
    • Reorganization and liquidation plans
    • Plan confirmation standards
    • Cramdowns
    • Single Asset Real Estate (SARE) cases
    • 1111b elections and their implications for creditors
    • Examples and outcomes

    Formats Available: Streaming
    Original Program Date: November 17, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO ABCs of Commercial Real Estate Bankruptcy
    Collapse Creating Reliable Valuations for Distressed Assets
    The continuing stagnation of the commercial real estate market since the last quarter of 2007 has resulted in a marked absence of comparable sales upon which to base value.  And yet, investors, brokers, lenders, appraisers, and receivers are consistently asked to give valuation advice.  Is there a way to deliver good valuation analysis in a world void of comps?  Yes there is, and this webinar is designed to help you get there.

    Who Should Attend:
    • Real Estate Investors
    • Real Estate Brokers
    • Lenders
    • Receivers
    • Property Managers
    • Attorneys
    Formats Available: Streaming
    Original Program Date: February 16, 2011
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Creating Reliable Valuations for Distressed Assets
    Collapse Pro forma Modeling with Excel: The Investment Pro forma (April 2017)

    This introductory course is a four-part online workshop that guides students through the construction and manipulation of a basic multifamily investment pro forma. The program is geared toward individuals who have never completed a pro forma from scratch. Starting from a blank spreadsheet, students will receive step-by-step direction in the creation of this investment pro forma. At the conclusion of the last session, participants will have completed their own investment pro forma and will have gained a new appreciation for how valuation and investment decisions are made. Each session of the workshop is designed to build on the previous one, and each participant will have a completed pro-forma model at the conclusion. Participants are expected to use learned skills to independently build individual sections of the model. However, the completed stages will be distributed at the end of each session. 

    All participants will receive access to the recording of each session. 

    Students Will Learn
    • How to identify the relevant project data required to begin crafting a pro forma;
    • Basic to intermediate Excel skills needed to model an industry-accepted pro forma;
    • Basic components of an investment pro forma:
      • Inputs
      • Amortization
      • Pro-forma income cash flows
      • Valuation.
    • How to construct an amortization table to accommodate three loan types: Constant Payment Mortgage (CPM), interest only (IO), and custom amortization and;
    • How to property format a Pro Forma for an Investment Template.
    Formats Available: Streaming

    Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel: The Investment Pro forma (April 2017)
    Collapse Underwriting Office and Multifamily Real Estate Investments

    Held over two sessions, this new online live program will introduce students to a process-oriented approach for evaluating office and multifamily investments from a physical and financial perspective. Each session will introduce theoretical investments and lead participants step by step through the areas of highest importance when evaluating these two product types for investment. Particular focus will be paid to underwriting the physical product, the surrounding market and existing tenancy, and the implications of these on the cash-flow development process. Instruction will be provided through case study materials that simulate the information and data one would receive in a typical transaction. Participants will conclude the workshop with a much more refined understanding of how to engage in a thoughtful process for evaluating an office or multifamily asset for acquisition. Each person will also receive a checklist of critical items to consider when underwriting an office or multifamily asset in the future.

    Formats Available: Streaming
    Original Program Date: August 09, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Underwriting Office and Multifamily Real Estate Investments
    Collapse ABCs of Commercial Real Estate Bankruptcy
    Bankruptcy is a ubiquitous term in the commercial real estate business lexicon.  However, relatively few professionals have a fundamental understanding of this somewhat arcane part of the business world and the rights and risks conferred when a bankruptcy petition is filed.  This new ULI webinar will provide an informative primer on the different types of bankruptcy cases (Chapter 7, 9, 11, 12, 13) that can be filed, and the implications they can hold for various stakeholders.  The program will address the rights, risks, and remedies that exist from the perspective of lenders, owners, tenants, vendors, and borrowers. Delivered by a non-attorney, this program will explain the basic processes and procedures associated with a commercial real estate bankruptcy in a clear and succinct manner. This informative program will help you prepare for what is often an unexpected and perplexing business event.

    Program highlights: 

    • Overview of the bankruptcy process
    • Risk quantification for stakeholders (landlords, lenders, tenants, vendors)
    • Timelines – the order of events
    • Types and priority of claims
    • Business operations during the bankruptcy process
    • Reorganization and liquidation plans
    • Plan confirmation standards
    • Cramdowns
    • Single Asset Real Estate (SARE) cases
    • 1111b elections and their implications for creditors
    • Examples and outcomes

    Formats Available: Streaming
    Original Program Date: November 17, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO ABCs of Commercial Real Estate Bankruptcy
    Collapse Comparative Real Estate Deal Analysis

    Most small development companies are very constrained in their resources and cannot afford time or capital to pursue multiple deals. This new ULI online program will identify the practical considerations, financial hurdles, and other relevant analytics that a residential developer may use to evaluate multiple opportunities when confronted with scarce resources. Using the tools developed by in this program a real estate company may determine the most appropriate opportunity to pursue given their company’s resources such as capital availability, timing, risk appetite, debt, etc). Later in the program, new considerations will be introduced that will be used to compare either engaging in another project, or two more projects which would require taking on a financial partner. Resource allocation becomes a science and analyzed in a new way to maximize returns while managing risk.

     

    Session 1 Highlights: Understanding the considerations 

    • General review of project considerations

                   - Risk
                   - Profitability
                   - Capital Need
                   - Debt Need
                   - Development/ Management Fees
                   - Timing of project
                   - Sensitivities
                   - "Free looks"

     

     

    • Development risks (Entitlement, Finance, Construction, and Sales)
    • Introduction and review of financial hurdles (Internal Rate of Return, Profit Margin, Return on Investment, and unlevered return)
    • Review pros and cons of each hurdle individual  [i.e. a 80% IRR may not mean you have a great project]
    • Review of  sample projects which excel in some hurdles but not others 

     

     

    Session 2 Highlights: Choosing the first project

    • Introduction of the Weighted Average Hurdle Score (WAHS) – assigns a value or a score to each hurdle which is then assigned a weight – the result is a weighted average score that allows two projects to be compared, quickly and simply.  
    • Maximizing the capital stack - identifying low cost of capital sources (i.e.  buyer deposits, structured acquisitions, seller mortgages, etc)
    • Apply WAHS to  sample projects

     

     

    Session 3 Highlights: Analysis of a second project

    • New considerations to apply when choosing a second project 

                   - Avoiding interference with pre-allocated capital
                   - Debt ceiling
                   - Timing
                   - Exposure if market softens
                   - Other

    • Reviewing a company cash flow model, incorporating two project cash flows into one (includes income tax review)

     

    Session 4 Highlights: Is a part of many better than all of one?

    • Review of partnership structures 

                  - Who puts up capital?
                  - Who guarantees debt?
                  - Fees earned and timeliness of payment
                  - Other investor structure terms

    • Comparison of multiple partnership projects vs single project as reviewed in Session 3

     

    Instructor

    Daniel Whitehurst 

    Managing Partner

    Ten Oaks Realty

    Falston, MD

    Formats Available: Streaming
    Original Program Date: April 05, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Comparative Real Estate Deal Analysis
    Collapse Health Amenities and Real Estate Premiums: Project Examples and Case Studies

    The nexus between physical design and human physical and mental well-being is increasingly being recognized and quantified. Social and community programming in real estate projects can demonstrate similar effects. Healthier, more active communities and improved opportunities for both urban and suburban residents are increasingly being pursued by the private sector as health amenities become a growing trend in both residential and commercial spaces.


    Less well documented are the specific amenities and programs being incorporated into real estate projects and how these can impact, feasibility, marketing, construction, operational efficiency, and regulatory approvals. Using examples from real-world projects, this new ULI webinar will explore the complexity, potential conflicts, costs, and not least of all the premiums these amenities can generate. Don’t miss this unique opportunity to learn first-hand how health can pay real estate dividends.


    Program Highlights

    • Overview of current state of health and the built environment
    • Understanding the cost and complexity of incorporating healthy amenities
    • How healthy amenities can affect project underwriting
    • Marketability of health-related amenities to buyers
    • Cost versus value – the return premium of health-related amenities
    • Partnerships important to success
    • Case studies

    Formats Available: Streaming
    Original Program Date: July 23, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Health Amenities and Real Estate Premiums: Project Examples and Case Studies
    Collapse Introduction to Real Estate Finance and Investment (August 2017)
    Developed for non-finance professionals, this new ULI online program will provide a broad and solid introduction to the basics of real estate finance and investment. Held over four sessions, the course will begin with a general overview of real estate property types and capital sources. From there the program will progress discussing basic analytical tools and performance measures. The workshop will acquaint students with fundamental real estate finance terms and concepts including: time value of money, capital stack, risk-return tradeoff, and financial leverage. Using examples and Excel spreadsheet, it will demonstrate important calculations in real estate finance and investment, such as internal rate of return (IRR), mortgage payment and loan balance, and property valuation. This course is recommended for non-finance real estate professionals who wish to gain a basic understanding of real estate finance that also will help them get more out of their professional interactions.

    Program Highlights

    Session 1.

    Introduction

    Overview of real estate markets

    Capital sources: debt vs. equity

    Key financial concepts

                      Time value of money (TVM)

                      Risk and return

    Basic TVM calculations

                      Compounding and Discounting

                      Compounding Frequency

     

    Session 2.

    Financial Leverage: Implications and Examples

    Commercial and Residential Mortgages

                      Similarities and differences

                      Main underwriting criteria

    Mortgage Calculation

                      Monthly payment

                      Annual Percentage Rate (APR)

    Mezzanine Debt vs. Second Mortgage

     

    Module 3.

    Basics of Real Estate Investment

    Performance Measures

                      Internal Rate of Return (IRR)

    Cash on Cash

                      Equity Multiple

    Real Estate Valuation

                      Direct Capitalization Approach

                      Discounted Cash Flow (DCF) Approach

    How Net Operating Income (NOI) is Derived

    The Real Estate Pro Forma Defined

     

    Module 4.

    Basics of Real Estate Development Finance

    Construction Financing vs. Permanent Financing

    Financial Analysis of a Development Project

                      Internal Rate of Return (IRR)

                      Equity Multiple

                      Residual Land Value

    Investment Return Waterfalls

    Course wrap up



    Burnham-Moores Center for Real Estate
    University of San Diego
    San Diego, California


    Tu is the Daniel F. Mulvihill Professor of Commercial Real Estate at the Burnham-Moores Center for Real Estate at the University of San Diego (USD). Tu joined the USD faculty in 2004 and was appointed the academic director of the Master of Science in Real Estate (MSRE) program in 2010. He is also responsible for the curriculum of the undergraduate real estate major.

    Tu’s research covers a wide range of topics, including housing valuation, smart growth and the new urbanism, sustainable and green buildings, commercial mortgage-backed securities (CMBS), real estate investment trusts (REITs), multifamily housing, retail shopping centers, and real estate education. He has published in many academic journals and for professional organizations such as the Urban Land Institute (ULI) and the Mortgage Bankers Association (MBA). Tu was a primary investigator of research projects sponsored by government agencies, including the U.S. Department of Energy, the U.S. Environmental Protection Agency, the California Energy Commission, and the District of Columbia Government. He currently serves on the editorial board of the Journal of Sustainable Real Estate.

    Tu earned his PhD in business administration from the George Washington University (GWU) in 1999. He received the Chartered Financial Analyst (CFA) designation in 2000 and became a LEED Accredited Professional in 2009. He is ARGUS Software Certified (ASC) for ARGUS Valuation-DCF, ARGUS Enterprise and ARGUS Developer. Before joining USD, Tu taught real estate and finance courses at GWU and California State University and Fullerton.

    Formats Available: Streaming
    Original Program Date: August 15, 2017
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Introduction to Real Estate Finance and Investment (August 2017)
    Collapse Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (June 2017)
    This is the second course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 


    Building on the first pro-forma modeling course, this four-part online program will help further build the participants' financial modeling and Excel skills. Students will learn more advanced Excel functions for valuation, amortization, rent roll, construction and permanent financing, construction draws, and cash flows.

    In each session, students will receive concise direction in spreadsheet construction. At the end of the last session, students will have a complete pro-forma model that can be scaled further to include waterfalls, stochastic processes, portfolio analysis, and visual displays of results.


    Each session of the workshop is designed to build on the previous one. Participants are expected to use learned skills to build individual sections and maintain the pace of the workshop. However, as in the first course, the completed stages will be distributed at the end of each session.


    Students Will Learn


    • Advanced Excel skills required to build a development pro forma for a multifamily project of any size;
    • Graphically demonstrate the construction draw;
    • Develop the methodology for drawing construction dollars using an S-curve;
    • How to quantify project cash flows; and
    • Additional components to a development pro forma:
      • Rent roll
      • Construction financing
      • Construction draw
      • Permanent financing
      • Scenario analysis to quantify risk.
    Formats Available: Streaming
    Original Program Date: June 05, 2017
    On-Demand Release Date: Available Now

    Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (June 2017)
    Collapse Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    This is the third course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 

    This third modeling course introduces students to the theory and practical construction of “waterfalls” for existing and new Microsoft Excel spreadsheet models.

    The waterfall is the method of distributing profits among partners within a transaction. In more complex transactions, profits are not distributed pari passu. (Pari passu is the proportional distribution of profits according to the percentage of capital invested—for example, with an investor who provides 80 percent of the capital receiving 80 percent of the profit.)

    During the first session, students will gain a theoretical understanding of what a waterfall is, as well as be exposed to the Microsoft Excel functions required to construct a waterfall. In the second session, students will construct a waterfall from a blank spreadsheet that can be incorporated into all existing spreadsheet models.
     

    Students Will Learn
    • Basic types of equity partnership distributions.
    • The key inputs to the waterfall distribution from a joint venture agreement.
    • How to model variable-return distributions to the project sponsor and equity investor.
    • Advanced valuation formulas in Excel.
    • How to "bolt on" the waterfall to all existing pro forma models
    Formats Available: Streaming
    Original Program Date: February 13, 2017
    On-Demand Release Date: Available Now

    Approved Credit:
  • ULI: 4.00 hours Attendance

  • MORE INFOMORE INFO Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    Collapse Pro forma Modeling with Excel: The Investment Pro forma (April 2017)

    This introductory course is a four-part online workshop that guides students through the construction and manipulation of a basic multifamily investment pro forma. The program is geared toward individuals who have never completed a pro forma from scratch. Starting from a blank spreadsheet, students will receive step-by-step direction in the creation of this investment pro forma. At the conclusion of the last session, participants will have completed their own investment pro forma and will have gained a new appreciation for how valuation and investment decisions are made. Each session of the workshop is designed to build on the previous one, and each participant will have a completed pro-forma model at the conclusion. Participants are expected to use learned skills to independently build individual sections of the model. However, the completed stages will be distributed at the end of each session. 

    All participants will receive access to the recording of each session. 

    Students Will Learn
    • How to identify the relevant project data required to begin crafting a pro forma;
    • Basic to intermediate Excel skills needed to model an industry-accepted pro forma;
    • Basic components of an investment pro forma:
      • Inputs
      • Amortization
      • Pro-forma income cash flows
      • Valuation.
    • How to construct an amortization table to accommodate three loan types: Constant Payment Mortgage (CPM), interest only (IO), and custom amortization and;
    • How to property format a Pro Forma for an Investment Template.
    Formats Available: Streaming

    Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel: The Investment Pro forma (April 2017)
    Collapse Understanding and Using Real Estate Cap Rates
    Many real estate professionals regularly engage in conversation about real estate capitalization rates ("cap rates"). But how well do they understand where they come from, what they signify, and how they can be applied to understand real estate valuation across markets, over time and through the development process?  Part of the difficulty is that the cap rate reflects so many different components of a real estate project’s valuation.  It is, in effect, an "all in" index incorporating conditions in capital markets, investor perceptions of regional and sector differences, expectations on the stability or potential growth of cash flows, and projections about future market conditions.  There is a lot of information in one number.

    This webinar explores the multiple inputs that determine a cap rate and explains how a developer, investor, lender, or broker can apply that understanding to making better, more informed decisions in the real estate market.  It also illustrates how to use the projected cap rate of a development project as a "hurdle" for determining the project's economic viability for attracting capital investment.

    Instructor



    Charles A. Long
    Principal
    Junction Properties, LLC
    Oakland, CA
    Charles A. Long is a developer specializing in mixed-use infill projects, including acquisition, entitlement and public private partnerships.

    He served for eight years as city manager in Fairfield, California. Since 1996, he has worked as a consultant to public and private clients on development and management. He has held interim positions for several cities in finance, redevelopment and management, including Interim Town Manager of Mammoth Lakes and Interim City Manager of Pinole and Hercules, California. His assignments have been diverse including negotiating development agreements, writing redevelopment plans, pro-forma analyses, strategic planning, economic development, organizational development, capital and financial planning, budget reform, base reuse and alternative energy development. He has overseen over $600 million of public financing in his career.

    He is currently developing two multi-family projects in Oakland, CA, one at 78 units, the other at 97 units. Construction on these is expected to begin in the third quarter of 2017.

    Mr. Long is a full member of the Urban Land Institute and a member of the Public Private Partnership Council. He is a faculty member of the ULI Real Estate School, teaching both in the US and internationally. He has served on eighteen ULI Advisory Panels, chairing panels in Salem, OR, Boise, ID, Dallas, TX, Buffalo, NY Pasco County, FL and San Bernardino, CA. He received the 2012 Robert M. O’Donnell Award for distinguished service in the advisory program. He is the former co-chair of the Sustainability Committee for the San Francisco District Council and, in that capacity, initiated several reports including recommendations for streamlining California’s environmental review process, a directory of financing sources for building efficiency and a survey of resiliency best practices in the Bay Area. He is the author of the book, Finance for Real Estate Development, published by ULI in April 2011 and winner of the 2012 National Association of Real Estate Editors Silver Award.

    Mr. Long has a BA in economics from Brown University and a Masters of Public Policy from U. C. Berkeley. He served in the U.S. Army as an infantry platoon sergeant.


    Program Highlights

    • A comprehensive understanding of how existing and anticipated capital and real estate market conditions, property characteristics and regional and sector differences determine a particular real estate capitalization rate. 
    • How real cap rates determine property value in investment decisions over a time horizon. 
    • How to evaluate the viability of a real estate development project by comparing its "development cap" to the current market cap rate. 
    • How to analyze and portray investment and development opportunities based on existing and projections of future cap rates.
    Formats Available: Streaming, Webinar + Archive
    Original Program Date: September 27, 2017
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Understanding and Using Real Estate Cap Rates
    Collapse Underwriting Office and Multifamily Real Estate Investments

    Held over two sessions, this new online live program will introduce students to a process-oriented approach for evaluating office and multifamily investments from a physical and financial perspective. Each session will introduce theoretical investments and lead participants step by step through the areas of highest importance when evaluating these two product types for investment. Particular focus will be paid to underwriting the physical product, the surrounding market and existing tenancy, and the implications of these on the cash-flow development process. Instruction will be provided through case study materials that simulate the information and data one would receive in a typical transaction. Participants will conclude the workshop with a much more refined understanding of how to engage in a thoughtful process for evaluating an office or multifamily asset for acquisition. Each person will also receive a checklist of critical items to consider when underwriting an office or multifamily asset in the future.

    Formats Available: Streaming
    Original Program Date: August 09, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Underwriting Office and Multifamily Real Estate Investments
    Collapse Creating an Effective Investment Proposal Template
    Originally held over two sessions, this program will focus on the general structure of an investment proposal for seeking equity capital. The program will use a sample case study project to illustrate the components of an effective equity investment proposal.
    Formats Available: Streaming
    Original Program Date: November 12, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Creating an Effective Investment Proposal Template
    Collapse Creating Reliable Valuations for Distressed Assets
    The continuing stagnation of the commercial real estate market since the last quarter of 2007 has resulted in a marked absence of comparable sales upon which to base value.  And yet, investors, brokers, lenders, appraisers, and receivers are consistently asked to give valuation advice.  Is there a way to deliver good valuation analysis in a world void of comps?  Yes there is, and this webinar is designed to help you get there.

    Who Should Attend:
    • Real Estate Investors
    • Real Estate Brokers
    • Lenders
    • Receivers
    • Property Managers
    • Attorneys
    Formats Available: Streaming
    Original Program Date: February 16, 2011
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Creating Reliable Valuations for Distressed Assets
    Collapse Evaluating Project Viability Using Internal Rate of Return (IRR) and Other Financial Metrics
    Evaluating the financial viability of a real estate development project requires an understanding of the metrics used by capital sources. Most sources will assess the project's internal rate of return to see if it meets their "hurdle" for viability. But, a project's internal rate of return depends on a detailed cash flow analysis both during construction and after close-out to show both return of and return on equity. How can a developer evaluate a project in its early stages without having accurate information on detailed cash flow? What metrics will capital sources see as legitimate means for evaluating project viability until more information becomes available? How are the metrics used early in a project consistent with a full internal rate of return analysis? This webinar discusses how to evaluate a project’s economic viability using a variety of metrics leading to a full internal rate of return analysis.

    Who Should Attend:

    • Managers of acquisitions
    • Development managers
    • Project managers
    • Entitlement managers
    Formats Available: Streaming
    Original Program Date: August 16, 2011
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Evaluating Project Viability Using Internal Rate of Return (IRR) and Other Financial Metrics
    Collapse Excel Tips and Shortcuts for Real Estate Professionals
    Do you know how to use Excel to build quick models but would like to learn how to reuse what you build? The biggest challenge for intermediate Excel users is to learn how to build models that are not only powerful and customized for a particular project, but also contain reusable components.

    This information-packed webinar will present tips, shortcuts, and strategies so that you can reuse what you build in multiple models and save substantial time.

    Attendee Takeaways:
    • Learn how to structure your financial models for maximize efficiency
    • Develop how to build a library of reusable tools
    • Learn how to best plan your "attack" when designing a financial model

    Who Should Attend:
    • Financial analysts
    • Loan underwriters
    • Real estate investors and developers
    Formats Available: Streaming
    Original Program Date: September 12, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Excel Tips and Shortcuts for Real Estate Professionals
    Collapse Graphing Real Estate Finance and Analysis Data with Excel
    Held over two sessions, this program will instruct attendees in the skills required to better display quantitative data using Microsoft Excel. It will focus on the tools provided in Excel, with specific emphasis placed on commonly used graphics for financial reporting and analysis and particular attention paid to real estate uses. 

    The first session will familiarize participants with Excel graphing tools, demonstrating line and bar charts, and will include axes formatting, data labels, secondary y-axis, and formatting of graphs. Session 2 will demonstrate the full range of the graphic options available in MS Excel. Advanced chart types, such as contour, bubble, and radar, will be covered and their relative strengths and weaknesses demonstrated. 

    The data used for the course will be real estate–specific. Participants will be provided with a data set for hands-on use in the second session. At the conclusion of the program, participants will understand how to graph data using multiple chart types and how to construct customized data labels. Attendees will receive a set a completed graphs and corresponding data at the conclusion of the program to facilitate ongoing review and understanding of the lessons.

    Program Highlights
    • Building sophisticated charts to better convey quantitative data in a visual format
    • Determining which graphic format is most appropriate for particular data and why
    • Constructing charts using real estate specific–data
    • Creating advanced chart types and customized graphs
    • A set of completed graphs and data at the conclusion of the program
    Formats Available: Streaming
    Original Program Date: September 18, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Graphing Real Estate Finance and Analysis Data with Excel
    Collapse Hotel Pro Forma Development for the Beginner
    Held over four sessions, this new online workshop will guide students step-by-step through the construction of a development pro forma for a mid-size hotel property. Beginning with a blank spreadsheet, the program will take students through the entire project from development through sale. Students will be instructed in the basic differences between a hotel pro forma model and other asset classes such as office or multifamily and the corresponding inputs and structure. At the end of the last session, participants will have completed their own hotel pro forma that will actively link to a cash flow page, allowing students to understand the basic valuation of a hotel and how investment decisions are made. 

    Each session of the workshop is designed to build on the previous one with each participant having a completed pro forma model at the conclusion. Participants will use learned skills to independently build individual sections and maintain the pace of the workshop. However, to avoid the possibility of anyone falling behind, the completed stages will be distributed the evening of each completed workshop. At the conclusion of the workshop, the instructor’s copy will be distributed, which will provide, at a minimum, a working hotel pro forma model for each participant.
    Formats Available: Streaming
    Original Program Date: March 28, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Hotel Pro Forma Development for the Beginner
    Collapse Introduction to Real Estate Financial Analysis (2014)
    Originally held over two sessions this programwill provide students with the tools necessary to create their own financial models in Excel in order to both value and analyze real estate debt and equity transactions. Beginning with a blank spreadsheet, students will combine theory with practice to explore the basic building blocks upon which all financial modeling is based. The program will run the gamut from time-value of-money (TVM) analysis to derivation of returns and basic mortgage analysis.
    Formats Available: Streaming
    Original Program Date: July 22, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Introduction to Real Estate Financial Analysis (2014)
    Collapse Pro Forma Modeling a Single-Family-Home Community
    Held over four sessions, this new online live program will focus on developing a single-family residential builder pro forma. The program will model and value a 50-lot single-family-home community. The model will assume the developer/builder is working with finished lots. Unlike a typical commercial model, this model does not include construction of an amortization table; instead, a residential builder uses a rolling facility. This construct will be explained in detail in session three of the course. 

    Each session of the workshop will build on the previous one, with each participant having a completed pro forma model at the conclusion. 

    Formats Available: Streaming
    Original Program Date: July 16, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Pro Forma Modeling a Single-Family-Home Community
    Collapse Structuring the Deal to be Profitable
    Ensuring that the capital structure of your development project is appropriately matched to current strategic objectives and risks, is crucial for the project's success, and the developer's financial return. In this program, participants will review the fundamental mechanisms of development financing by looking at typical financing structures and how they impact developer profitability. The course allows for the practical application of these concepts by helping participants understand how to best finance development projects and identify and review different capital sources and structures. Special focus is given to the real-world demands of real estate development. Various project examples will be used to demonstrate that structuring a profitable deal is about much more than just the lowest cost of capital. 
     
    Attendee Takeaways: 
    • Overview of Developing Financing
    • Review Basic Financing Mechanisms
      • Senior Debt
      • Institutional Equity
      • Mezzanine Debt
    • Groundwork for Financing a Successful Project
    • Understanding how the structure of the capital stack affects project returns

    Who Should Attend:
    • Development Project Managers
    • Acquisitions Directors
    • Analysts
    • Architects and Builders who work with Developers

    Formats Available: Streaming
    Original Program Date: November 25, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Structuring the Deal to be Profitable
    Collapse Understanding and Navigating the World of Real Estate Private Equity
    This webinar is intended to provide a primer on the real estate private equity markets and will cover the market’s basic nomenclature, primary investment vehicles, and investment strategies and deal structures. All of this will be discussed within the context of today’s real estate capital markets in terms of what deals are getting done and how deals are currently being structured. The discussion will also address how to navigate the world of private equity in an increasingly complex economic environment.

    Who Should Attend
    :
    • CEO's
    • CFO's
    • Financial Analysts
    • Real Estate Consultants
    • Development Associates
    • Real Estate Investors

    Formats Available: Streaming
    Original Program Date: September 21, 2010
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Understanding and Navigating the World of Real Estate Private Equity
    Collapse Understanding and Utilizing the Time Value of Money (TVM) Concept
    Time value of money is one of the fundamental concepts in real estate finance. TVM is based on the concept that a dollar that you have today is worth more than the promise or expectation that you will receive a dollar in the future. The reason for this is that money held today can earn a return through investment so that you will have more than a dollar in the future. This basic concept leads to the central components of time value—present and future value. This relationship between present and future value is why real estate investors must consider both the timing of and the amount received from real estate investments.

    While financial calculators and spreadsheets can perform TVM calculations, many people fail to understand the underlying concepts. Without a basic understanding of the math, it is difficult to understand and interpret the solution provided by those tools.  And, equally important, it can be nearly impossible to recognize when the answer is wrong.  
     
    Attendee Takeaways:

    This webinar will provide an introduction to:
    • the power of compounding  by comparing simple and compound interest returns
    • the valuation of cash flow streams, both constant and variable.
    • the mathematics of TVM in order to provide a foundation for understanding the numbers
    • a simple introduction to working TVM problems in Excel

    Who Should Attend

    This course is designed for those who work in real estate in the fields of:
    • property management
    • brokerage
    • development
    • finance
    • local government
    • urban planning
    Formats Available: Streaming
    Original Program Date: January 12, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Understanding and Utilizing the Time Value of Money (TVM) Concept
    Collapse Understanding Real Estate Capitalization Rates
    Real estate professionals often talk about real estate capitalization rates ("cap rates"), but do they know where they come from, what they signify, and how they can be applied to understand real estate valuation across markets, over time and through the development process?   Part of the difficulty is that the cap rate can reflect many different components of a real estate project’s valuation.  It is, in effect, an "all in" index incorporating conditions in capital markets, investor perceptions of regional and sector differences, expectations on the stability or potential growth of cash flows, and projections about future market conditions.  There is a lot of information represented in just one number. 
     
    This webinar explores the multiple inputs that determine a cap rate and explains how a developer, investor, lender or broker can apply that understanding to making better, more informed decisions in the real estate market. It further illustrates how to use cap rates as descriptors of project and investment viability.  

    Attendee Takeaways:
    • A comprehensive understanding of how existing and anticipated capital and real estate market conditions, property characteristics and regional and sector differences determine a particular real estate capitalization rate. 
    • How real cap rates determine property value in investment decisions over a time horizon. 
    • How to evaluate the viability of a real estate development project by comparing its "development cap" to the current market cap rate.   
    • How to analyze and portray investment and development opportunities based on existing and projections of future cap rates.

    Who Should Attend:
    • Real Estate Developers
    • Real Estate Lenders
    • Real Estate Investors
    • Accountants

    Formats Available: Streaming
    Original Program Date: September 24, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Understanding Real Estate Capitalization Rates
    Collapse Using the Employment-Based 5th Preference (EB-5) Visa Program in Economic Revitalization

    In the wake of the Great Recession, there has been renewed interest in the EB-5 investor visa program among developers and economic development agencies around the country. This visa program provides immigrants with green cards upon their investment of at least $500 thousand in a US development project, and was rarely used until 2009. The program requires that projects create American jobs and provides incentives for development in areas of high unemployment.


    This webinar will explain how the EB-5 program operates and how it can be used as a source of capital for development projects. The program will teach participants how to navigate the program, identify projects that are a good match for EB-5 funds given the program’s requirements, and how to secure foreign investors. Special attention will be paid to understanding the many players involved, and how to coordinate among them. The continually evolving policy and regulatory environment will also be covered. Specific case studies will be used to illustrate the steps necessary to complete a project funded through EB-5, including the redevelopment of the Philadelphia Navy Yard.


    Program Highlights

    • Effectively using EB-5 investor funds as a source of capital for development projects
    • How to structure a business entity eligible for the EB-5 visa program
    • How to structure deals using EB-5 funds
    • Navigating the program and coordinating among multiple relevant parties (USCIS, regional centers investors, etc.)
    • Identifying projects that are appropriate for EB-5 funds
    • Finding and securing foreign investors
    • Importance of recognizing the fluctuation of the policy and regulatory environment
    • Case Studies

    Formats Available: Streaming
    Original Program Date: March 04, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Using the Employment-Based 5th Preference (EB-5) Visa Program in Economic Revitalization
    Collapse Video: Basic Real Estate Finance Workshop
    Designed for those new to real estate finance, this one-day workshop will introduce students to basic principles of real estate finance. Beginning with an introduction to finance terminology, the workshop will acquaint students with fundamental real estate finance terms and concepts including: income-producing real estate, net operating income, percentage rents, compound interest, discounting process, internal rates of return, and mortgage financing and leverage. This hands-on course is recommended for non-finance real estate professionals who wish to gain a basic understanding of real estate finance that also will help them get more out of more advanced ULI workshops.

    Who Should Attend

    Non-finance real estate professionals and public agency officials interested in gaining an understanding of real estate finance concepts and calculations.


    Formats Available: Streaming
    Original Program Date: May 17, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Video: Basic Real Estate Finance Workshop
    Collapse Video: Real Estate Finance I
    In today’s environment, commercial real estate development only occurs when property markets demand additional space and capital markets are able to provide the needed financing. The opening course in commercial real estate finance targets this intersection of property and capital markets. It highlights the market analysis necessary to support commercial leasing activity, the income and expense analyses flowing from those leases, and the resulting value creation. While addressing equity capital sources, the course focuses more directly on debt capital and understanding loan sources, lenders’ underwriting guidelines, and cash flow analysis. (Equity capital sources and requirements are addressed in detail in the second course in this sequence, Real Estate Finance II.) Finally, participants have an opportunity to complete a commercial development feasibility analysis.
    Formats Available: Streaming
    Original Program Date: November 07, 2012
    MORE INFOMORE INFO Video: Real Estate Finance I
    Collapse Best Practices in Multifamily Marketing and Leasing
    This new ULI webinar will give you practical insight into making the most of your multifamily marketing dollars and functional tools for improving the performance of your onsite leasing staff.  Developed over years of firsthand experience, data collection, and analyses, this program will offer concrete tools and actions to demonstrate where you should and should not be putting your resources. You will learn best practices that will not only attract, but, equally important, retain your residents. Performance metrics and management practices will help you field your most effective leasing staff and keep them on board as well.


    Program highlights

    • Media investment
    • Top 10 sources of applications
    • Marketing expenditure analysis
    • Appropriate ad messaging
    • Retention statistics and the marketing plan
    • Performance metrics of leasing professionals
    • Aligning to the owner’s objectives
    • Onboarding, training, and career planning

    Formats Available: Streaming
    Original Program Date: February 04, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Best Practices in Multifamily Marketing and Leasing
    Collapse For Sale and Rental Housing in the Brave New World
    This groundbreaking housing program focuses on "what's next" in residential development - cutting edge design, consumer preference and opinions, and how such development will be financed in the years ahead. ULI’s senior housing guru, John McIlwain, sets the stage with a new perspective on housing in America for the next decade, and a distinguished array of national speakers will drill down on specific topics.

    *If you are interested in a discount on bulk purchases click here to contact Peach New Media.
    Formats Available: Streaming
    Original Program Date: September 30, 2010
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO For Sale and Rental Housing in the Brave New World
    Collapse How Developers Can Use Census and Local Government Data to Determine Housing Demand

    Before embarking on any real estate project a developer must first determine if demand exists for their product. Developers routinely engage professionals to conduct market studies to validate demand for their project. However, US Census data, along with other local data sources, can offer excellent preliminary insight into housing demand in a particular market. For those that know how to search, analyze, and interpret the data, it can be a valuable indicator that can help a smart developer determine which markets have demand for additional housing units.


    Data from the Census is often perceived as stale, cumbersome, or difficult to navigate. This new ULI webinar will dispel these perceptions, demonstrating step-by-step where to find the data you need, and will demonstrate step-by-step basic techniques to help you analyze the supply and demand balance of an area. 


    Program highlights

    • What data is available and where to find it
    • Analyzing the data relevant to developers
    • The correlation between population forecasts and capital investments
    • Latent demand indicators
    • Sources of demand indicators and data
    • Step-by-step techniques for forecasting demand for additional housing units
    • Avoiding incorrect conclusions

    Formats Available: Recording
    Original Program Date: March 29, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO How Developers Can Use Census and Local Government Data to Determine Housing Demand
    Collapse Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
    Fluid and collaborative communication among the developer, marketing, and management teams throughout the development process is critical for a successful, revenue-producing multifamily development.  The earlier the marketing and management teams are engaged and involved, the greater the opportunity for a successful lease-up.  

    Strategic project planning by discipline and outlining key milestones is a standard protocol within the multifamily development industry.  However, the merging and realignment of key milestones across disciplines and at key decision points in the multifamily housing development process is often overlooked. This can result in a failure to optimize overall revenue potential. 
    Using ULI’s eight stage model of real estate development, this  webinar will provide a practical guide to integrating management and marketing project plans at each stage to optimize operational efficiency, revenue generation, and lease-up.  

    Attendee Takeaways:
    • Innovative and practical applications for each step of the process
    • Case study examples of successful and unsuccessful collaborations and their implications
    • Rule of thumb models for budgets and projections
    • A high-payoff collaborative activity checklist
    • Best practice collaboration methods 

    Formats Available: Streaming
    Original Program Date: December 19, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
    Collapse Pro Forma Modeling a Single-Family-Home Community
    Held over four sessions, this new online live program will focus on developing a single-family residential builder pro forma. The program will model and value a 50-lot single-family-home community. The model will assume the developer/builder is working with finished lots. Unlike a typical commercial model, this model does not include construction of an amortization table; instead, a residential builder uses a rolling facility. This construct will be explained in detail in session three of the course. 

    Each session of the workshop will build on the previous one, with each participant having a completed pro forma model at the conclusion. 

    Formats Available: Streaming
    Original Program Date: July 16, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Pro Forma Modeling a Single-Family-Home Community
    Collapse The ABCs of Land Development

    Land development is a complex endeavor requiring careful analysis of the site and a thorough understanding of the market, finance, and regulatory environment. It can also require a skilled and often creative negotiator, and a careful documentation of the transaction. This new ULI webinar will introduce students to the basic components of a successful land development project. Using real-world resources, the webinar will focus on small-scale land development (<200 acres).

     
    Program Highlights:
    • Identifying the Site(s)
    • Determining Residual Land Value
    • Negotiating the Acquisition(s)
      • ​Strategy
      • Tactics
    • ​Structuring the Transaction(s)
      • ​Letters of Intent
      • Options
      • Leases
      • Contracts
    • ​Due Diligence
      • ​Checklist
      • Budget


    Attendee Takeaways:

    • Due Diligence Checklist
    • Form of LOI
    • Form of Option
    • Purchase Contract Checklist
    • Due Diligence Budget


    Who Should Attend:

    • Developers
    • Planners
    • Engineers
    • Attorneys
    • Landscape Architects
    • Land Brokers & Salespersons
    • Lenders
    • Investors
    Formats Available: Streaming
    Original Program Date: November 29, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO The ABCs of Land Development
    Collapse Underwriting Office and Multifamily Real Estate Investments

    Held over two sessions, this new online live program will introduce students to a process-oriented approach for evaluating office and multifamily investments from a physical and financial perspective. Each session will introduce theoretical investments and lead participants step by step through the areas of highest importance when evaluating these two product types for investment. Particular focus will be paid to underwriting the physical product, the surrounding market and existing tenancy, and the implications of these on the cash-flow development process. Instruction will be provided through case study materials that simulate the information and data one would receive in a typical transaction. Participants will conclude the workshop with a much more refined understanding of how to engage in a thoughtful process for evaluating an office or multifamily asset for acquisition. Each person will also receive a checklist of critical items to consider when underwriting an office or multifamily asset in the future.

    Formats Available: Streaming
    Original Program Date: August 09, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Underwriting Office and Multifamily Real Estate Investments
    Collapse Video: Real Estate Development Process: Part I
    Real estate development is a complex and continually evolving business. To effectively develop, finance, or supervise a project, a person needs a fundamental understanding of the process and its many facets. To be successful, a developer must manage not only their own performance, but also the collaboration of numerous professionals representing multiple disciplines. Throughout this process, the developer also must continually identify and mitigate inherent risks that can threaten the viability of the project.

    Designed for both public and private sector participants, this newly updated course follows the principal stages of the process chronologically and addresses how each team member’s actions and performance can affect the success and profitability of the project. Emphasizing the iterative and interactive nature of the real estate development process, the course combines a lecture and case study approach. Top industry professionals, drawn from ULI’s membership, serve as course leaders and guest speakers, sharing their insights, experience, and expertise with participants.

    The course is broadly structured in three parts:

    Preliminary considerations, market analysis, financial analysis, and strategic marketing; 

    Site selection and due diligence, land acquisition and deal structure, and entitlements and permitting; and

    Planning and design, construction management, and operations and property management.

    Hands-on instruction in financial analysis provides students with a fundamental understanding of pro forma modeling basics.
    Formats Available: Streaming
    Original Program Date: December 05, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Video: Real Estate Development Process: Part I
    Collapse Development Incentives: A Toolkit for Deals that Won

    This new webinar is intended to provide participants with an overview of the types of public incentive programs that exist to support real estate development projects in need of financial assistance.  The session will begin with a qualitative overview of several types of public incentive programs. The program will then move to a quantitative focus and demonstrate models to analyze these programs during front-end financial feasibility diligence.  Recognizing that many of these programs are fragmented with respect to location, market, product type and governmental jurisdictions, this workshop is intended to help real estate professionals understand the applicability and basic valuation techniques of these programs to facilitate efficient investment decisions.

     

    Program Highlights

    • Overview of the types of development incentive programs that exist for financially challenged projects, including tax abatements, tax credits, grants, tax increment financing, etc.
       
    • General understanding of the mechanics associated with the various incentive programs (i.e. when they apply, structural issues, timing, legislative hurdles, etc.)
       
    • General understanding of a back-of-the-envelope approach to valuing each type of program, including how to avoid common modeling pitfalls
       
    • Excel model valuation tool
    Formats Available: Streaming
    Original Program Date: August 26, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Development Incentives: A Toolkit for Deals that Won
    Collapse Public Private Partnerships: Why and How
    Understanding potential deals through the public officials' eyes and how to access the tools available are key pre-requisites to meeting the self-interests of both the public and private sides in a development deal. This webinar will give you the understanding and competencies to engage productively in that conversation.  

    Revitalization projects to convert obsolete or underutilized land to more productive uses are typically economically and physically complex. This complexity exposes the private developer to a significantly higher risk of financial loss during the entitlement and pre-development processes. This higher risk can make private developers increasingly reluctant to move forward with sites that involve community controversy, assembly, or reconfiguration. Over the past 15 years, public-private partnerships have emerged as an effective means for addressing these challenges while capturing critically important public benefits.  

    Nevertheless, opportunities for effective and productive public-private partnerships are frequently missed. As the competency for formulating public-private partnerships is still evolving, these deals can often be poorly structured and executed. Many public agencies still have a weak understanding of the private real estate process and its economics, resulting in unrealistic or constraint-driven deal-making. Similarly, the private sector frequently misses opportunities because it is unfamiliar with the tools, fails to understand the motives of a public agency, and is frustrated with what it considers a bewildering, time-consuming decision-making process.  

    This program will describe why public-private partnerships are so critical to successful development today by providing several case study examples illustrating different aspects of the practice. The webinar materials will include a download of background material and models that provide a perspective on how you can pursue opportunities for these transactions in the real world regardless of whether you approach these from the public or private sector perspective.

    The webinar will also address the seven public private partnership tools and how to use them. These tools are: 

    1. Lower entitlement risk and funding of pre-development  
    2. Site access, cleanup, assembly, and reconfiguration:  
    3. Public infrastructure and co-investment:  
    4. Debt funding  
    5. Equity and gap funding
    6. Developer selection and negotiations
    7. Creating a development entity

    Formats Available: Streaming
    Original Program Date: March 26, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Public Private Partnerships: Why and How
    Collapse Public-Private Partnerships Today: Tools, Tactics, and Opportunities
    Public-private projects have become more difficult in today's economic and fiscal environment, but they have also become more essential.  Cities and developers need each other more than ever to put projects together and offset risks and costs.   What should you do differently today, as both developers and public agencies?  How do you structure deals given fiscal pressures and lender concerns?  How do you take advantage of what can be extraordinary opportunities?

    Who Should Attend: 
    • Developers
    • Public agency finance and redevelopment officials
    • Major lenders
    • Development attorneys for developers and public agencies
    Formats Available: Streaming
    Original Program Date: April 13, 2011
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Public-Private Partnerships Today: Tools, Tactics, and Opportunities
    Collapse Using Public-Private Partnerships to Create Value-Added Conversions
    The Great Recession of 2008/09 has caused fundamental changes in the financing of real estate development, changes that will persist for years as the industry de-leverages, vacancies rise and cap rates increase. Valuations of existing properties have plunged, no one knows for sure by how much, but discounts of 40% to 50% are not unusual. Each sector faces its own unique challenges:
    • The retail sector, already hard hit with lower sales, is particularly distressed with high
      vacancy rates (current estimates are 12% vacancy, a total of 40 square miles of vacant
      space), caused by a combination of overbuilding and a wave of retailer bankruptcies.
    •  In addition to the loss of jobs, the office sector faces a decline in square footage per
      worker as technology enables work virtually;
    • With further declines and outsourcing in manufacturing, the industrial sector adds to its
      growing inventory of vacant square footage;
    • Hospitality, a sector that has a history of boom and bust, has a glut of inventory from
      prior cycles that can no longer compete in a high amenity marketplace where newer
      product sets the pace.
    This “perfect storm” of lower leverage, reduced demand, and high inventory has highlighted the growing supply of obsolete, underutilized properties which face bleak prospects for renewal because current valuations of competing properties are lower than replacement, putting a limit on the ability to attract scarce private capital for renewal.

    The iconic example of these conditions is the dead shopping mall. At one time, hailed by ULI as, “the quintessential American contribution to the world’s consumer culture”, the conditions that led to the creation of shopping malls and sustained them for decades are changing rapidly. These large unwieldy properties now face the need to convert the vast parking lots and clunky structures into contemporary places. But, where will the capital to fund this conversion come from given that current market conditions will make it mpossible to use purely private sources?

    The answer lies in a poorly understood and emerging source of development capital; namely,
    public private partnerships. These partnerships address five critical tasks to convert obsolete
    properties:

    1. Lower entitlement risk and funding of pre-development: The public sector can lower
    entitlement risk and reduce pre-development funding requirements by taking the lead on
    creating a community-based plan for conversion,
    2. Site and access reconfiguration: Public sector assistance is crucial to improve the usually
    poor access and reconfigure parcel lines that constrain conversion.
    3. Debt funding: The public sector can use low cost municipal debt (land secured, tax
    increment or lease revenue bonds) to fund infrastructure, parking and other project
    components, thus lowering debt costs.
    4. Equity funding: The public sector can provide some portion of the equity component
    using land value, tax increment or tax credit funding.
    5. Gap funding: Public sector funding is replacing mezzanine funding as the “value-add”
    gap funding that used to be a common component of the private capital stack.

    The Great Recession has accelerated an already existing trend toward public private partnerships,which have become inherent to the more economically and physically complex, contemporary style of development. And yet, as important as public partnerships have become in contemporary development financing, frequently opportunities are missed and deals badly made because the state of the art for formulating and executing public private partnerships is still relatively new and evolving. Many public agencies still have a weak understanding of the private real estate process and its economics, resulting in unrealistic or constraint-driven deal making. Similarly, the private sector frequently misses opportunities because it is uncertain on how to craft a partnership and is frustrated with what it considers a bewildering, time-consuming decision making process.

    Our session on “Using public private partnerships to create value-added conversions” will cover the principles and practice of successfully creating diverse and complex public-private partnerships to capitalize on the inventory of properties that are ripe for value-added conversion.

    The webinar will explore case studies and will provide a download of background material and models that provide you a perspective on how you can pursue opportunities for these transactions in the real world regardless of whether you approach these from the public or private sectors.
    Formats Available: Streaming
    Original Program Date: April 30, 2010
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Using Public-Private Partnerships to Create Value-Added Conversions
    Collapse Best Practices in Multifamily Marketing and Leasing
    This new ULI webinar will give you practical insight into making the most of your multifamily marketing dollars and functional tools for improving the performance of your onsite leasing staff.  Developed over years of firsthand experience, data collection, and analyses, this program will offer concrete tools and actions to demonstrate where you should and should not be putting your resources. You will learn best practices that will not only attract, but, equally important, retain your residents. Performance metrics and management practices will help you field your most effective leasing staff and keep them on board as well.


    Program highlights

    • Media investment
    • Top 10 sources of applications
    • Marketing expenditure analysis
    • Appropriate ad messaging
    • Retention statistics and the marketing plan
    • Performance metrics of leasing professionals
    • Aligning to the owner’s objectives
    • Onboarding, training, and career planning

    Formats Available: Streaming
    Original Program Date: February 04, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Best Practices in Multifamily Marketing and Leasing
    Collapse Best Practices in Site Selection and Land Acquisition

    Selecting and acquiring land for development is a highly specialized endeavor due to the unique challenges presented by each site. Identifying and acquiring the best possible site for a development is a multi-faceted endeavor that includes extensive research and examination, due diligence and risk assessment, land valuation, and negotiation. A firm understanding of the several components of this process can be the crucial first step in a successful development deal.


    This new ULI webinar will introduce you to the tips, techniques, and best practices in identifying and acquiring land for development. You will be introduced to the members of the due diligence team and what you can expect to pay for their services. The webinar will also instruct you in the importance of determining the value of the land early in the process and how to calculate that price based on your proposed project. You will also learn tips for negotiating the best price and the essential components of a land purchase agreement.


    Program highlights include:

    • Accommodating your development to the site
    • Six steps to successful site selection and acquisition
    • Considerations in urban and suburban site selection
    • Calculating residual land value - what is the land worth for your project?
    • Understanding and managing the due diligence process
    • Due diligence checklist
    • "Bar napkin" facts and stats
    • Tying up the property - letters of intent
    • The components of the purchase agreement
    • Tips for negotiating the best purchase price
    • Case study

    Formats Available: Streaming
    Original Program Date: October 27, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Best Practices in Site Selection and Land Acquisition
    Collapse Comparative Real Estate Deal Analysis

    Most small development companies are very constrained in their resources and cannot afford time or capital to pursue multiple deals. This new ULI online program will identify the practical considerations, financial hurdles, and other relevant analytics that a residential developer may use to evaluate multiple opportunities when confronted with scarce resources. Using the tools developed by in this program a real estate company may determine the most appropriate opportunity to pursue given their company’s resources such as capital availability, timing, risk appetite, debt, etc). Later in the program, new considerations will be introduced that will be used to compare either engaging in another project, or two more projects which would require taking on a financial partner. Resource allocation becomes a science and analyzed in a new way to maximize returns while managing risk.

     

    Session 1 Highlights: Understanding the considerations 

    • General review of project considerations

                   - Risk
                   - Profitability
                   - Capital Need
                   - Debt Need
                   - Development/ Management Fees
                   - Timing of project
                   - Sensitivities
                   - "Free looks"

     

     

    • Development risks (Entitlement, Finance, Construction, and Sales)
    • Introduction and review of financial hurdles (Internal Rate of Return, Profit Margin, Return on Investment, and unlevered return)
    • Review pros and cons of each hurdle individual  [i.e. a 80% IRR may not mean you have a great project]
    • Review of  sample projects which excel in some hurdles but not others 

     

     

    Session 2 Highlights: Choosing the first project

    • Introduction of the Weighted Average Hurdle Score (WAHS) – assigns a value or a score to each hurdle which is then assigned a weight – the result is a weighted average score that allows two projects to be compared, quickly and simply.  
    • Maximizing the capital stack - identifying low cost of capital sources (i.e.  buyer deposits, structured acquisitions, seller mortgages, etc)
    • Apply WAHS to  sample projects

     

     

    Session 3 Highlights: Analysis of a second project

    • New considerations to apply when choosing a second project 

                   - Avoiding interference with pre-allocated capital
                   - Debt ceiling
                   - Timing
                   - Exposure if market softens
                   - Other

    • Reviewing a company cash flow model, incorporating two project cash flows into one (includes income tax review)

     

    Session 4 Highlights: Is a part of many better than all of one?

    • Review of partnership structures 

                  - Who puts up capital?
                  - Who guarantees debt?
                  - Fees earned and timeliness of payment
                  - Other investor structure terms

    • Comparison of multiple partnership projects vs single project as reviewed in Session 3

     

    Instructor

    Daniel Whitehurst 

    Managing Partner

    Ten Oaks Realty

    Falston, MD

    Formats Available: Streaming
    Original Program Date: April 05, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Comparative Real Estate Deal Analysis
    Collapse Construction Contracting and Management for the Developer

    Contracting for and managing the the design and construction process is among the most important facets of real estate development. But managing risks and relationships in this multifaceted endeavor is often not well-understood by real estate professionals. The half-day primer will provide you with a brief, but solid introduction to the process from the viewpoint of the real estate developer. You will acquire a better understanding of construction contracts, contract pricing, and considerations in hiring construction professionals. Learn the various players in the process and what you should and should not expect from them in their roles, including the public sector. And gain insight into how best to manage change within this complex and at times unpredictable process.


    Program Highlights

    • Overview of the complex, multidisciplinary construction process
    • Introduction to the wide range of players and their roles
    • Contract types and their components
    • Construction management vs. general contracting
    • How projects are organized and bought out by construction professionals
    • Matching the timing and type of construction procurement and contracting with your project
    • How to price and structure the best construction contract to protect your interests
    • What to expect in terms of who actually does the work
    • Managing change and risk in the construction process

    Formats Available: Streaming
    Original Program Date: February 23, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Construction Contracting and Management for the Developer
    Collapse Creating an Effective Investment Proposal Template
    Originally held over two sessions, this program will focus on the general structure of an investment proposal for seeking equity capital. The program will use a sample case study project to illustrate the components of an effective equity investment proposal.
    Formats Available: Streaming
    Original Program Date: November 12, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Creating an Effective Investment Proposal Template
    Collapse Data Centers: A Foundational Primer
    The advent of Big Data has more sharply focused attention on the development of Data Centers. Data centers are perhaps the most complex and sophisticated buildings being constructed today, requiring redundancies and resiliency well beyond other property types. Yet to many the precise function, components, users, and business models of data centers are not well known or understood. Held over two sessions, this new ULI online workshop will provide a functional introduction to the history, infrastructure, economics, and building technology that make up the modern Data Center. 
    Formats Available: Streaming
    Original Program Date: February 25, 2014
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Data Centers: A Foundational Primer
    Collapse Determining Project Viability: Residual Land Valuation and Predevelopment Task Management
    How does a developer know whether a particular piece of land is affordable for a specific project? What specific areas of information should a developer investigate after site control is achieved? How does a developer manage risk by addressing project uncertainties before they become expensive problems? 

    The business terms (price and timing of payment) for acquiring land for a development project are the most important decision that a developer makes because it is the only decision in the development process that the developer has complete discretion over making; if the project cannot financially support the terms, then the developer does not acquire. Determining whether a project can support the terms of acquisition requires a systematic approach to gathering information and anticipating project implementation issues. After achieving site control, the developer focuses on areas of project risk, continually evaluating whether the chances of success warrant proceeding further and how to implement the project most cost-effectively. If the risks are too high or future implementation measures are shown to be too expensive, the developer needs to abandon the project and treat expenditures up to that point as a loss.

    Attendee Takeaways
    • Understand how to evaluate the economic viability of a real estate project using a hurdle rate that reflects the construction period and absorption characteristics of the project. 
    • Understand how the development plan for a piece of land and the costs of development determine residual land value and why acquiring at no higher than residual land value is critical for project success. 
    • Understand what “due diligence” areas of information need to be investigated after site control is achieved and how information in these areas will determine whether to proceed with, renegotiate, or abandon the site acquisition. 
    • Understand how to create a management plan with tasks and budgets that anticipates implementation early in the project planning before they become expensive. 

    This webinar provides fundamental information about how to evaluate and manage the economic viability of a real estate project to developers as well as planners, designers, architects, lenders, builders, attorneys, accountants, marketers, engineers, public officials, and environmentalists.
    Formats Available: Streaming
    Original Program Date: June 13, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Determining Project Viability: Residual Land Valuation and Predevelopment Task Management
    Collapse Development Incentives: A Toolkit for Deals that Won

    This new webinar is intended to provide participants with an overview of the types of public incentive programs that exist to support real estate development projects in need of financial assistance.  The session will begin with a qualitative overview of several types of public incentive programs. The program will then move to a quantitative focus and demonstrate models to analyze these programs during front-end financial feasibility diligence.  Recognizing that many of these programs are fragmented with respect to location, market, product type and governmental jurisdictions, this workshop is intended to help real estate professionals understand the applicability and basic valuation techniques of these programs to facilitate efficient investment decisions.

     

    Program Highlights

    • Overview of the types of development incentive programs that exist for financially challenged projects, including tax abatements, tax credits, grants, tax increment financing, etc.
       
    • General understanding of the mechanics associated with the various incentive programs (i.e. when they apply, structural issues, timing, legislative hurdles, etc.)
       
    • General understanding of a back-of-the-envelope approach to valuing each type of program, including how to avoid common modeling pitfalls
       
    • Excel model valuation tool
    Formats Available: Streaming
    Original Program Date: August 26, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Development Incentives: A Toolkit for Deals that Won
    Collapse Evaluating Project Viability Using Internal Rate of Return (IRR) and Other Financial Metrics
    Evaluating the financial viability of a real estate development project requires an understanding of the metrics used by capital sources. Most sources will assess the project's internal rate of return to see if it meets their "hurdle" for viability. But, a project's internal rate of return depends on a detailed cash flow analysis both during construction and after close-out to show both return of and return on equity. How can a developer evaluate a project in its early stages without having accurate information on detailed cash flow? What metrics will capital sources see as legitimate means for evaluating project viability until more information becomes available? How are the metrics used early in a project consistent with a full internal rate of return analysis? This webinar discusses how to evaluate a project’s economic viability using a variety of metrics leading to a full internal rate of return analysis.

    Who Should Attend:

    • Managers of acquisitions
    • Development managers
    • Project managers
    • Entitlement managers
    Formats Available: Streaming
    Original Program Date: August 16, 2011
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Evaluating Project Viability Using Internal Rate of Return (IRR) and Other Financial Metrics
    Collapse Health Amenities and Real Estate Premiums: Project Examples and Case Studies

    The nexus between physical design and human physical and mental well-being is increasingly being recognized and quantified. Social and community programming in real estate projects can demonstrate similar effects. Healthier, more active communities and improved opportunities for both urban and suburban residents are increasingly being pursued by the private sector as health amenities become a growing trend in both residential and commercial spaces.


    Less well documented are the specific amenities and programs being incorporated into real estate projects and how these can impact, feasibility, marketing, construction, operational efficiency, and regulatory approvals. Using examples from real-world projects, this new ULI webinar will explore the complexity, potential conflicts, costs, and not least of all the premiums these amenities can generate. Don’t miss this unique opportunity to learn first-hand how health can pay real estate dividends.


    Program Highlights

    • Overview of current state of health and the built environment
    • Understanding the cost and complexity of incorporating healthy amenities
    • How healthy amenities can affect project underwriting
    • Marketability of health-related amenities to buyers
    • Cost versus value – the return premium of health-related amenities
    • Partnerships important to success
    • Case studies

    Formats Available: Streaming
    Original Program Date: July 23, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Health Amenities and Real Estate Premiums: Project Examples and Case Studies
    Collapse How Developers Can Use Census and Local Government Data to Determine Housing Demand

    Before embarking on any real estate project a developer must first determine if demand exists for their product. Developers routinely engage professionals to conduct market studies to validate demand for their project. However, US Census data, along with other local data sources, can offer excellent preliminary insight into housing demand in a particular market. For those that know how to search, analyze, and interpret the data, it can be a valuable indicator that can help a smart developer determine which markets have demand for additional housing units.


    Data from the Census is often perceived as stale, cumbersome, or difficult to navigate. This new ULI webinar will dispel these perceptions, demonstrating step-by-step where to find the data you need, and will demonstrate step-by-step basic techniques to help you analyze the supply and demand balance of an area. 


    Program highlights

    • What data is available and where to find it
    • Analyzing the data relevant to developers
    • The correlation between population forecasts and capital investments
    • Latent demand indicators
    • Sources of demand indicators and data
    • Step-by-step techniques for forecasting demand for additional housing units
    • Avoiding incorrect conclusions

    Formats Available: Recording
    Original Program Date: March 29, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO How Developers Can Use Census and Local Government Data to Determine Housing Demand
    Collapse Managing Successful Entitlements: Building Community and Political Support for Land Use Projects
    Great plans and projects often collapse in the face of NIMBY opposition and the reluctance of public officials to make controversial or unpopular decisions. Gain practical how-to knowledge to put together your own outreach and lobbying plans. Participants learn how to assess politicians' decision-making styles and communications biases; avoid or manage hostile audiences; minimize community resistance; and turn pro-project attitudes into pro-project action.

    Who Should Order:

  • This webinar provides fundamental information about winning entitlements for developers, builders, lenders, planners, public relations professionals, land use attorneys, architects, engineers, and public officials.

  • *Please Note: Hard copies of the presentation are not available with this recording.
    Formats Available: Streaming
    Original Program Date: December 16, 2008
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Managing Successful Entitlements: Building Community and Political Support for Land Use Projects
    Collapse Managing the Land Development Process for a Small Scale Development
    This new ULI webinar will offer a unique primer on the developer’s role in managing the site development process, also known as horizontal development. The program will provide an informative overview of this process, including experience-based best practices in engaging with the numerous consultants, contractors, designers, and utilities that are involved.

    The program will include guidelines into preparing bid requests, as well as best way to compare and evaluate bids. Managing and working with public utilities will be addressed in detail, as well the developer’s interactions with lending sources, property owners associations, and project marketing. Concepts will be illustrated through real-world examples.

    Program Highlights
    • Identifying the scope work
    • Letters of interest and why you should use them
    • Steps to bidding the project – accurately documenting the RFP
    • Managing consultants (engineers, architects, attorneys)
    • Finding and managing different types of contractors simultaneously
    • Managing the required entitlements
    • Coordinating with utility providers (gas, electric, phone, cable, etc.)
    • Monitoring the schedule
    • Handling pay requests
    • Turn-over of facilities
    Formats Available: Streaming
    Original Program Date: September 13, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Managing the Land Development Process for a Small Scale Development
    Collapse Structuring the Deal to be Profitable
    Ensuring that the capital structure of your development project is appropriately matched to current strategic objectives and risks, is crucial for the project's success, and the developer's financial return. In this program, participants will review the fundamental mechanisms of development financing by looking at typical financing structures and how they impact developer profitability. The course allows for the practical application of these concepts by helping participants understand how to best finance development projects and identify and review different capital sources and structures. Special focus is given to the real-world demands of real estate development. Various project examples will be used to demonstrate that structuring a profitable deal is about much more than just the lowest cost of capital. 
     
    Attendee Takeaways: 
    • Overview of Developing Financing
    • Review Basic Financing Mechanisms
      • Senior Debt
      • Institutional Equity
      • Mezzanine Debt
    • Groundwork for Financing a Successful Project
    • Understanding how the structure of the capital stack affects project returns

    Who Should Attend:
    • Development Project Managers
    • Acquisitions Directors
    • Analysts
    • Architects and Builders who work with Developers

    Formats Available: Streaming
    Original Program Date: November 25, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Structuring the Deal to be Profitable
    Collapse The ABCs of Land Development

    Land development is a complex endeavor requiring careful analysis of the site and a thorough understanding of the market, finance, and regulatory environment. It can also require a skilled and often creative negotiator, and a careful documentation of the transaction. This new ULI webinar will introduce students to the basic components of a successful land development project. Using real-world resources, the webinar will focus on small-scale land development (<200 acres).

     
    Program Highlights:
    • Identifying the Site(s)
    • Determining Residual Land Value
    • Negotiating the Acquisition(s)
      • ​Strategy
      • Tactics
    • ​Structuring the Transaction(s)
      • ​Letters of Intent
      • Options
      • Leases
      • Contracts
    • ​Due Diligence
      • ​Checklist
      • Budget


    Attendee Takeaways:

    • Due Diligence Checklist
    • Form of LOI
    • Form of Option
    • Purchase Contract Checklist
    • Due Diligence Budget


    Who Should Attend:

    • Developers
    • Planners
    • Engineers
    • Attorneys
    • Landscape Architects
    • Land Brokers & Salespersons
    • Lenders
    • Investors
    Formats Available: Streaming
    Original Program Date: November 29, 2012
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO The ABCs of Land Development
    Collapse Understanding the Real Estate Development Process
    Real estate development is a complex, iterative, and interdisciplinary endeavor. To effectively develop, finance, or supervise a project, a fundamental understanding of the process and its many facets is necessary. Many real estate entrepreneurs enter the development business from a tangential discipline. This introductory course is designed for entry- to intermediate-level professionals from all disciplines, both public and private. The course objective is to provide attendees with a basic understanding of real estate development and finance concepts and a comprehensive overview of the development process.
    The program begins with a review of the development process and quickly takes participants through several stages of real estate development, demonstrating the interdisciplinary nature of the process, and its inherent complexity. Lectures and case studies provide instruction in the fundamentals of successful design and development of real estate. Instruction in financial analysis provides a fundamental understanding of pro forma modeling basics. The program provides participants with practical approaches to real estate development. 

    • Overview of the development process
    • Market analysis and real estate economics
    • Financial analysis of real estate
    • Site selection and due diligence
    • Negotiating and structuring the deal
    • Real estate finance basics
    • Fundamental financial analysis
    • Financing the project
    • Managing the entitlement process
    • Managing the design and construction process
    • Strategic marketing
    • Case studies 

    Formats Available: Streaming
    MORE INFOMORE INFO Understanding the Real Estate Development Process
    Collapse Vacant Spaces to Vibrant Places

    Economically vibrant and resilient communities often share a common set of traits that enhance residents' connection to the place they live. A recent study by the Knight Foundation found “connection to place” to be the leading indicator of the prosperity of a community. The higher levels of civic engagement promoted by this sense of connection can result in measurable increases in community wealth.

    Research by groups including Preservation Green Lab are beginning to identify and quantify these community traits. Smaller buildings and historic districts play important roles in supporting more livable, socially diverse, and economically resilient communities. In addition to their unique character, these neighborhoods with more diverse building stock can also be more attractive due to their generally greater walkability.

    Several key measures of vitality, diversity, and economic performance are significantly associated with the presence of smaller buildings and with diversity of building age. The measurably higher economic performance and livability of areas with this type of urban fabric argue for their preservation where they exist, and their enhancement through infill and redevelopment opportunities. Often, however, adaptive reuse policies at the city level can act in opposition to economic development goals. The result can be the destruction of vintage-modern buildings and a stifling of business development.

    This ULI webinar will outline the economic development benefits of locally-funded, smaller-scale, infill neighborhood development. The program will also provide examples of how city-level policies can unwittingly work at cross-purposes and will suggest solutions for building comprehensive, cooperative real estate and economic development policies.


    Program Highlights

    • Quantifying the impact of local economy work and preservation
    • The link between preservation, infill development, and economic development
    • Spatial characteristics and economic development and resilience
    • Aligning real estate and economic development policies for job creation and talent retention
    • The business case for adaptive reuse of buildings
    • The importance of community banks in financing unique urban spaces

    Formats Available: Streaming
    Original Program Date: March 03, 2016
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Vacant Spaces to Vibrant Places
    Collapse Best Practices in Multifamily Marketing and Leasing
    This new ULI webinar will give you practical insight into making the most of your multifamily marketing dollars and functional tools for improving the performance of your onsite leasing staff.  Developed over years of firsthand experience, data collection, and analyses, this program will offer concrete tools and actions to demonstrate where you should and should not be putting your resources. You will learn best practices that will not only attract, but, equally important, retain your residents. Performance metrics and management practices will help you field your most effective leasing staff and keep them on board as well.


    Program highlights

    • Media investment
    • Top 10 sources of applications
    • Marketing expenditure analysis
    • Appropriate ad messaging
    • Retention statistics and the marketing plan
    • Performance metrics of leasing professionals
    • Aligning to the owner’s objectives
    • Onboarding, training, and career planning

    Formats Available: Streaming
    Original Program Date: February 04, 2015
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Best Practices in Multifamily Marketing and Leasing
    Collapse International Sales and Marketing Outreach
    International Sales and Marketing Outreach appeals to developers, builders and other members of the U.S. real estate community seeking solid advice and information now how to survive and thrive in the current market by appealing to buyers beyond U.S. borders, or to U.S.-based buyers with international connections and sources of funding. The webinar will focus on high-end homes and estates, land-purchase opportunities, vacation properties and other real estate products that appeal to international buyers.

    Examples include:

  • Overseas and Canadian investors attracted to U.S. properties because of the weak dollar.
  • Both domestic and international buyers seeking second-homes or vacation properties in the U.S. and Pacific Rim.
  • Overseas buyers seeking homes for their children or other family members in the U.S.

    Who Should Order:

  • Sales and Marketing Director
  • Development Director
  • Project Manager

  • *Please Note: Hard copies of the presentation are not available with this recording.
    Formats Available: Streaming
    Original Program Date: October 22, 2008
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO International Sales and Marketing Outreach
    Collapse Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
    Fluid and collaborative communication among the developer, marketing, and management teams throughout the development process is critical for a successful, revenue-producing multifamily development.  The earlier the marketing and management teams are engaged and involved, the greater the opportunity for a successful lease-up.  

    Strategic project planning by discipline and outlining key milestones is a standard protocol within the multifamily development industry.  However, the merging and realignment of key milestones across disciplines and at key decision points in the multifamily housing development process is often overlooked. This can result in a failure to optimize overall revenue potential. 
    Using ULI’s eight stage model of real estate development, this  webinar will provide a practical guide to integrating management and marketing project plans at each stage to optimize operational efficiency, revenue generation, and lease-up.  

    Attendee Takeaways:
    • Innovative and practical applications for each step of the process
    • Case study examples of successful and unsuccessful collaborations and their implications
    • Rule of thumb models for budgets and projections
    • A high-payoff collaborative activity checklist
    • Best practice collaboration methods 

    Formats Available: Streaming
    Original Program Date: December 19, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Multifamily Housing: Strategies for Integrating Management and Marketing into the Development Process
    Collapse Using Social Media Marketing Techniques More Efficiently for Multifamily Leasing
    Communication is no longer just about mass media, meetings and phone calls. In this era, social media, from Facebook to Twitter to LinkedIn—not to mention the blogosphere—is the "place" where people are connected. Social media evolves, its application is growing: to ask questions, source solutions and get key advice from trusted peers. This growth can be clearly seen in apartment leasing and residential real estate, where social media is being used by private developers, government agencies, and community groups as a new tool to compensate for other failing advertising vehicles.

    With new household formation at a standstill for 2010, multifamily developers will compete like never before. New tenants will be especially price- and offer sensitive and the Internet guarantees they will be perfectly informed. Facebook and Twitter hold great promise as an affordable source of referrals but comes with some risk. Learn how to reorganize your marketing and leasing efforts to find active, qualified tenants with social media referral tools, search engine strategies and online intercept techniques. See examples of programs in motion and the common pitfalls to avoid. Prepare for this leasing season now with specific tools and techniques for this year’s leasing season.

    Come and learn about the tools and strategies for making your case and your products come alive in a whole new way!

    Who Should Participate:
    This webinar provides fundamental information useful for asset managers, property managers and leasing management. While primarily developed for the apartment category, there will be cross over content for residential real estate.

    Formats Available: Streaming
    Original Program Date: March 05, 2010
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Using Social Media Marketing Techniques More Efficiently for Multifamily Leasing