Topic 8 – Alternative Investments Reading 35 – Real Estate Investments 0:00 Introduction and Learning Outcome Statements 3:20 LOS: Compare the characteristics, classifications, principal risks, and basic forms of public and private real estate investments. 10:49 LOS: Explain portfolio roles and economic value determinants of real estate investments. 18:52 LOS: Discuss commercial property types, including their distinctive investment characteristics. 21:43 LOS: Explain the due diligence process for both private and public equity real estate investments. 25:48 LOS: Discuss real estate investment indexes, including their construction and potential biases. 33:47 LOS: Discuss the income, cost, and sales comparison approaches to valuing real estate properties. 34:59 LOS: Compare the direct capitalization and discounted cash flow valuation methods. 36:32 LOS: Estimate and interpret the inputs (for example, net operating income, capitalization rate, and discount rate) to the direct capitalization and discounted cash flow valuation methods. 39:34 LOS: Calculate the value of a property using the direct capitalization and discounted cash flow valuation methods. 45:52 LOS: Calculate and interpret financial ratios used to analyze and evaluate private real estate investments. 48:51 LOS: Discuss types of REITs. 49:58 LOS: Justify the use of net asset value per share (NAVPS) in REIT valuation and estimate NAVPS based on forecasted cash net operating income. 51:21 LOS: Describe the use of funds from operations (FFO) and adjusted funds from operations (AFFO) in REIT valuation. 54:06 LOS: Calculate and interpret the value of a REIT share using the net asset value, relative value (price-to-FFO and price-to-AFFO), and discounted cash flow approaches. 59:59 LOS: Explain advantages and disadvantages of investing in real estate through publicly traded securities compared to private vehicles.
