| LEC # | TOPICS | LECTURE NOTES |
|---|---|---|
| 1 | Course introduction, portfolio theory | Chapters 21 and 22, slides 19-29 (PDF) |
| 2 | Portfolio theory and CAPM | Chapters 21 and 22, slides 30-59 |
| 3 | CAPM (cont.) | Chapters 21 and 22, slides 60-73 |
| 4 | REITs introduction | Chapter 23, slides 80-82, 1-26 (PDF) |
| 5 | REIT CF-based valuation (as stocks) | Chapter 23, slides 27-46 |
| 6 | REIT NAV-based valuation and asset valuation | Chapter 23, slides 79, 47-72 |
| 7 | Lincoln case due | |
| 8 | REITs management considerations, wrap-up | Chapter 23, slides 73-78 |
| 9 | CMBS introduction, CMBS structure (start) | Chapter 20, slides 1-16 (PDF) |
| 10 | CMBS structure and rating | Chapter 20, slides 17-36 |
| 11 | CMBS rating and other topics | Chapter 20, slides 37-54 |
| 12 | Real estate equity derivatives: Index swaps | Chapter 26 (PDF) Derivatives (PDF) |
| 13 | Course wrap-up, CMBS case due |