COM. R.E. Resources

Below are course materials for commercial real estate…


Effective Lease Rate Rent Calculations with Various Terms

Norm Miller & Jared Rodio

Commercial Real Estate Answers to End of Chapter Questions- Ch 14- Discounted Cash Flow Analysis

Commercial Real Estate Answers to End of Chapter Questions- Ch 17- Mortgage Calculation and Amortization

Commercial Real Estate Answers to End of Chapter Questions- Ch 30- Effective Rent Spreadsheet

Band Mortgage Equity Capitalization or Atkerson format Ellwood

(This is the classic Ellwood Method of deriving a cap rate updated to allow for compounding of NOI over time and useful for examining assumptions behind market cap rates.)


Conversion of rent to minimum affordable home or condo price

(This excel file converts rent to the equivalent break even home price whereby the after tax cost to own for one year is the same as renting.  It is the minimum fundamentally supportable value for the unit, although it ignores future rent increases unless a higher initial rent is assumed)


DCF Proforma

(This is a classic 10 year cash flow proforma with allowance for refinancing.  Useful financial ratios and rates of return are calculated.)


Effective Rent Spreadsheet

(This file adjusts uneven rent payments such that the equivalent period payment known as effective rent has the same present value.  Discount rates and the perspectives of landlords and tenants are considered.)


Mortgage-Calculation-and-Amortization

(This file generates monthly and annual payment summaries.)


PORTFOLIO Calculations

(This is a simple portfolio demonstration)



This is a set of slides for each Chapter in the 3rd Edition of Commercial Real Estate Analysis and Investment

Authors: David Geltner, Norman G. Miller, Jim Clayton, Piet Eichholtz

Publisher: OnCourse Learning, 2013


Chapter 1- The Real Estate Space Market & Asset Market

Chapter 2- The Real Estate System

Chapter 3- Urban Economics & Real Estate Market Analysis

Chapter 4- Inside the City I: Some Basic Urban Economics

Chapter 5- Inside the City II: A Closer Look

Chapter 6- Real Estate Market Analysis

Chapter 7- Background

Chapter 8- Present Value Mathematics for Real Estate

Chapter 9- Quantifying and Measuring Investment Performance: “Returns”

Chapter 10- Basic Micro-Level Valuation: “DCF” & “NPV”

Chapter 11- Real Estate Cash Flow Pro Formas & Opportunity Cost of Capital (OCC)

Chapter 12- Advanced Micro-Level Valuation for Real Estate

Chapter 13- Leverage

Chapter 14- After-Tax Investment Analysis & Corporate Real Estate (Own Vs Rent)

Chapter 15- Real Estate Investment Capital Structure

Chapter 16- Mortgage Basics

Chapter 17- Mortgage Basics II: Payments, Yields & Values

Chapter 18- Commercial Mortgage Analysis and Underwriting

Chapter 19- Commercial Mortgage Economics & Investment

Chapter 20- Commercial Mortgage Backed Securities

Chapter 21- Macro-Level Real Estate Investment Issues

Chapter 22- Equilibrium Asset Pricing

Chapter 23- Real Estate Investment Trusts (REITs)

Chapter 24- International Real Estate Investments:  Markets, Strategies and Implementation

Chapter 25- Data Challenges in Measuring Real Estate Periodic Returns

Chapter 26- Real Estate Investment Management and Derivatives

Chapter 27- The Real Options Model of Land Value and Development Project Valuation

Chapter 28- Economic Analysis of Investment in Real Estate Development Projects, Part 1

Chapter 29- Investment Analysis of Investment in Real Estate Development Projects, Part 2: Economic Analysis

Chapter 30- Leases and Leasing Strategy


Video Lessons

The Future of Commercial Real Estate: Keynote Talk 

Norm_Miller_6_11_18

Intro to Excel Financial Present Value Functions | By: Miller

Economics of Lease Analysis | By: Miller

Explaining the Four Quadrant Model | By: Miller

Tutorials

Pulling San Diego Data from SANDAG | By: Miller


Podcasts

Shop Talk: Norm Miller on office and workplace trends

Norm Miller is a professor of real estate at the University of San Diego, and former vice president of analytics for the CoStar Group. He is also editor of the Journal of Sustainable Real Estate, which he founded in 2009 with the support of CoStar. Among his areas of interest and research is office and workplace trends, which he discusses in this podcast.

Fun Extras

Jeopardy PowerPoint

Where the US ranks in the world


Contents of CD





CD Application Download: WINDOWS