Description
This Course Is For You If You Want To
This is a good fit if you want to:
- Get a comprehensive, definitive grasp of commercial real estate cap rates including what they are and how to calculate them
- Understand how to interpret vagaries and discrepancies in reported cap rates
- Gain an appreciation for the concept of the cash flow cap rate, cap rate spreads, and cap rate compression
Details
In this course, you will learn about commercial real estate property capitalization (cap) rates: what they are, how you can calculate them, and how to interpret reported cap rate data, among other things.
- What is a cap rate?
- Why the cap rate is based on NOI specifically
- How to understand vagaries in reported cap rates
- Income multiple calculation
- What causes cap rate compression and expansion
- How to reconcile conflicting cap rate quotes
- Cap rate spreads
- How to think about estimating future cap rates
This is a slide presentation course with an associated multiple choice quiz. You will watch the video and, if you choose, complete the quiz and review the answers given when the quiz is automatically graded.
The video running time is 58 minutes. Watching all the video (replaying parts where desired) and completing the quiz and reviewing the answers will take approximately 65 to 75 minutes, depending on the individual.
Through the direct experience of REFM’s principals in commercial real estate transactions, and REFM’s ongoing consulting to industry practitioners across the U.S. for the last decade, we have developed and have continually refined “The REFM Way” of teaching general commercial real estate principles and the specific practice of financial modeling.
To enhance your learning and help you to efficiently build a practical knowledge base, we:
- Always set the stage by providing the big picture first
- Speak in plain language and define industry terms on an ongoing basis
- Draw with “ink” on the slides to help you follow the lesson and grasp important points
- Give you highly granular video chapter hyperlinks so you can find what you want quickly and easily.
Upon successful completion of this course, you will:
- Have gained a holistic conceptual and technical understanding of commercial real estate cap rates
- Have learned about how real estate players view cap rates and the significance they attach to them in various contexts
- Have an appreciation for when cap rates are a meaningful measuring stick, and when they are not.
What You Get
Lifetime online access to:
- An easily-navigated 58-minute video tutorial with playback controls up to 2x speed. Videos have captions available and are playable on any device including PC, Mac, phones and tablets.
- PDF file of the 53 slides presented in the video and associated Excel file
- 10-question quiz (multiple-choice, automatically graded) and answer key.
Meet Your Instructor
Since 2009, top companies and educational institutions have trusted REFM to train thousands of their employees and students.
New to REFM training?
Clients Include
Clients Include
Amherst
ASB Capital Management
Barings
BentallGreenOak
BrightSpire
Brixmor
Brookfield
CapitalOne
CBRE Global Investors
CCRE
Centennial Bank
Citibank
ColonyNorthstar
Conrex
CPPIB
CRC Companies
CreditSuisse
Crescent Communities
Crow Holdings
DDG
DLA Piper
Greystar
GTIS Partners
Hodes Weill & Associates
Houlihan Lokey
Howard Hughes
Jamestown
JBG Smith
JPMorganChase
Kennedy Wilson
Link Logistics
LivCor
Lubert-Adler
Macys
Oxford Properties
Park Hill
Peterson Companies
PGIM
PN Hoffman
Prometheus
QuadReal
Related
Revantage
SEO
Skanska USA
Square Mile Capital
USAA Real Estate
Asset Living
CBRE Global Investors
Clark Enterprises
Comstock Homes
Conor Commercial
Crescent Communities
Federal City Property
Flournoy
Four Seasons
Grosvenor
GTIS Partners
Hines
Hoffman
Howard Hughes
HPET
Hunt Companies
Insight Property Group
Kettler
LaSalle Investment
MadisonMarquette
Markwood
Mesa Capital
Midway
Miller Valentine
Panoramic Interests
PEG Development
Renaissance Downtowns
Rockefeller Group
Skanska USA
Snavely Group
Trammell Crow Residential
Trion Properties
Vornado
Video Chapter Markers
- Agenda
- Defining the cap rate
- Why NOI
- Vagaries in reported cap rates
- Income multiple
- Cap rate compression and expansion
- Back-solving math
- Reconciling conflicting cap rate data
- Building to the cap rate
- Spreads
- Cap rate calculation alternate approach
- Estimating future cap rates
- Cap rate sensitivity
