Introduction to Commercial Real Estate Development: July 23-24

Course Overview

As the markets for real estate remain stable in many areas of the country, opportunities continue to exist for the development of commercial real estate products. This course is designed to analyze the real estate development process primarily from the perspective of the equity participant. The course concentrates on the financial feasibility of real estate development, which involves the identification and evaluation of critical assumptions related to the creation, construction, and operation of economically viable commercial real estate projects. The course examines all phases of the development process, from idea inception through marketability and asset management. An understanding of this process benefits not only potential developers, but investors, lenders, builders, public sector participants, and end-users of the products as well.

The course is introductory in scope and assumes students have little or no experience with the development process. Students are assumed to have taken Fundamentals of Real Estate Finance, or to be comfortable with the topics covered in that course.

Learning Objectives and Outcomes

• List the components of the real estate development process from the perspective of the equity participant.
• Identify and evaluate the critical elements of a real estate development.
• Evaluate financial feasibility of real estate development.
• Explain each phase of the development process.

Instructor Bio

Tony Ciochetti is the Thomas G. Eastman Chair and Chairman of the MIT Center for Real Estate. He is also involved in teaching topics in real estate finance and development. Dr. Ciochetti has taught as a visiting Professor in the Department of Land Economy at Cambridge University in England.