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Your Partner in Growing Your Community

Real Estate Finance (ED202)

This is the third course in the EDFP Certification Program™ from the National Development Council, hosted by MEDA.

Dates

October 21 – 25, 2019

Prerequisites

None

Course Content

Real estate development is the focus of ED202, the third course in the EDFP Certification Program™. This course offers a step-by-step look at the real estate development process from the perspective of lenders, developers and investors. Participants analyze economic development real estate projects—retail, office, mixed-use—using the rates of return required by lenders, developers and investors, and determine the appropriate amount of public sector financing needed to make projects feasible. Public sector financing tools and techniques, including tax credits, designed to attract, leverage and complement private financing, are utilized to maximize equity while minimizing the amount of public investment.

Specific topics include:

Real Estate Financing Process

  • Calculating project costs
  • Projecting the developer’s pro forma
  • Determining debt capacity
  • Measuring equity attracted
  • Quantifying the financing gap
  • Closing the gap

Return on Investment

  • Cash-on-cash rate of return
  • After-tax cash flow rate
  • Present value analysis
  • Internal rate of return

Appraisals

  • The capitalization rate
  • Three approaches to value
  • Reconciling value

Impact of Taxes on Real Estate Ownership

  • Depreciation
  • Leverage
  • Tax credits
  • Taxable gains and losses

Cost

MEDA Members: $1,275/Non-Members: $1,375

Location

Radisson Hotel
111 N. Grand Ave.
Lansing, MI 48933

Hotel Reservations

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Corporate Sponsors

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Contact Us

Michigan Economic
Developers Association
P.O. Box 15096
Lansing, MI 48901-5096
PH: 517-241-0011
meda@medaweb.org

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