Fundamentals of Commercial Real Estate
The commercial real estate industry touches every aspect of business throughout the United States. Every corporation and company, no matter how large or small, needs expertise in real estate to grow, whether it is through acquiring additional land, building or space. Commercial real estate touches every aspect of our daily lives: where we shop, work, and live. Commercial real estate encompasses all aspects of development, sales, leasing, management, investment in or improvement of retail property, investment property, agriculture, hospitality, business, industry, and many other property types.
Participants in the University of Colorado Real Estate Center’s new, six-week evening online Fundamentals of Commercial Real Estate course will study ground-up development, fundamental real estate finance, the ins and outs of the real estate contract, deeds and how to differentiate covenants within those deeds, and appraisal of real property using traditional methods of valuation.
Taught by University of Colorado’s Prof. Joel Starbuck, a 25-year industry veteran in commercial real estate, this course is ideal for students and real estate professionals who are looking for a well-rounded course encompassing aspects of the commercial real estate industry not readily available or affordable, for study.
Class Schedule:
Types of real estate property and government controls on real estate markets
Topics covered include economics, legal foundation, conveyance of real property, purchase and sale contract, role of government, valuation, investment decisions, essential element of the lease, comparitive advantage, urban growth models, real estate cycles, supply and demand.
Legal foundations of real estate property and conveying real estate property rights
Topics include legal foundations of real property, nature of real property, bundle of rights, easements, restrictive covenants, lines, forms of co-ownership, fixtures, promissory notes, deed of trust.
Purchase, sale contracts, closings and valuations
Topics include conveying real property intersets, modes of conveyances, deeds, complexity and public records and land descriptions.
Investment decisions and leases/types of property
Topics include valuation, comparative sales, cost, and income capitalization.
Essential elements of a lease and real estate mortgage loans
Topics include investment decisions, debt financing on cash flows, cash flow estimates, time value of money, valu and risk, market valuation, leverage on expected returns and leverage on risk.
Real estate development
Topics include development, development process and development documents.
Key Takeaways from the course:
- Apply real estate principles and understand how to develop deals with realtors, brokers, property owners, developers, architects, financial professionals, lawyers, construction professionals, retailers, mortgage companies, bankers, and more
- Understand how to analyze and distinguish leases, clauses, deeds, and covenants
- Develop strategies to build retail real estate deals and acquire real estate loans
- Analyze and build cash flows, pro formas and make investment decisions
- Learn how to evaluate properties and projects and conduct appropriate risk assessments
- Create connections with government entities that affect commercial real estate, such as zoning boards, taxation departments, various environmental organizations, and the cities and towns that approve thousands of commercial proposals and deals every day
- Know and appreciate the differences between usable area, net rentable area, and common area
- Become familiar with the land entitlement process. A project will not be able to go forward unless you can obtain permission from numerous regulatory agencies in the area and the surrounding community.
- Understand what you are buying in acquiring title and obtaining land surveys
departments, and city governments
Instructor Biography:
Joel has taught Principles of Real Estate at Leeds School of Business for the past three years. He has over twenty-five years of experience in commercial real estate, developing grocery-anchored shopping centers for King Soopers and City Market, a division of The Kroger Co. A member of NAIOP and ICSC, Joel has also served as a board member of CUREC. Joel graduated from the University of Colorado with a degree in Real Estate and enjoys playing golf, fly fishing and coaching youth sports. Joel lives in Arvada with his wife, Drenea, and their three children.