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PO4007: REAL ESTATE PORTFOLIO INVESTMENT (2017-2018)

Last modified: 16 Nov 2016 18:26


Course Overview

The course introduces students to concepts of portfolio management and recent developments regarding real estate investment vehicles. The course takes a financial economics viewpoint and places real estate investments within this context. The course covers such important aspects as securitization of initially illiquid real estate assets, the management of building portfolios and the use of index swap contracts for risk management purposes. The course discusses also real option theory and applies it to land development and the pricing of lease contracts.

Course Details

Study Type Undergraduate Level 4
Session First Sub Session Credit Points 30 credits (15 ECTS credits)
Campus None. Sustained Study No
Co-ordinators
  • Dr Rainer Schulz

Qualification Prerequisites

  • Programme Level 4

What courses & programmes must have been taken before this course?

What other courses must be taken with this course?

None.

What courses cannot be taken with this course?

  • PO4005 Real Estate Portfolio Investment (Studied)
  • (Studied)

Are there a limited number of places available?

No

Course Description

This course examines theories and issues relevant to both mixed-asset and real estate portfolios. Themes include: institutional background; investor motives; risk and return; the application of modern portfolio theory (including the Capital Asset Pricing Model); information and market efficiency; securitization; market modelling; index construction and derivatives. Drawing these themes together, benchmarking and real estate portfolio strategy and management are examined in the context of practical examples. The course is a core module for those intending a career in Chartered Surveying, investment fund management, and related professional positions.

Degree Programmes for which this Course is Prescribed

  • MA Accountancy-Property
  • MA Accountancy-Real Estate
  • MA Finance-Real Estate
  • MA Management Studies - Property
  • MA Property
  • MA Real Estate
  • Property Joint

Contact Teaching Time

44 hours

This is the total time spent in lectures, tutorials and other class teaching.

Teaching Breakdown


Assessment

1st Attempt: Two pieces of written coursework, consisting of 1,500 words each (20% per coursework) and 1 two-hour written examination (60%).

Resit: None.

Formative Assessment

This will take place both through tutorial discussions and practical computer exercises.

Feedback

Students will receive individual written feedback on their written coursework.

They will also receive model answers to numerical tutorial exercises as well as verbal feedback in the course of tutorial discussions.

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