Course Syllabus
Real Estate Development
The George Washington University School of Business
Course Information:
Course Number
Course Title
Term
Where
When
Finance 6240
Real Estate Development
Fall, 2014
Funger Hall, Room 209
Monday nights 7:10-9:40
(Monday, Aug 25th – Monday, December 15th)
Professor Contact Information:
Professor
Stanley Sloter (Adjunct Professor)
President, Paradigm Development
1415 North Taft Street, Suite 100
Arlington, VA 22201
Office Hours
To coordinate meetings or conversations please contact Stan’s
assistant Faith Korbel at fkorbel@paradigmcos.com or 703-527-7500 (rather
than using the swsloter@gwu.edu email, which is not checked regularly)
Teaching Assistant
TBA
Course Materials
Dictionary of Real Estate Terms
(Barron’s Business Guide), 7th Edition
By Jack Friedman, Jack Harris and Bruce Lindeman
Real Estate Development Principles and Process, 4th Edition
By Mike Miles, Gayle Berens, Mark Eppli and Marc Weiss
Jerry Wolman: The World’s Richest Man
By Joseph Bockol and Richard Bockol
Course Description:
Examination of the forces that shape real estate development; market analysis methods and techniques to
evaluate project feasibility; the institutional and legal framework within which real estate development occurs
and that influences controls, land value, and development potential.
Student Learning Objectives/Outcomes:
The real estate development course will focus on the practicalities of the real estate development process
from the real estate developer’s perspective. Determining methodologies and strategies for conceptualizing
projects and assessing project feasibility will be considered in the context of the cost and availability of
capital to fund the predevelopment and overall development process. Considerations associated with
putting together a development project team and special issues associated with various product types
(office, multi-family, retail, etc) will also be examined. The class will include analysis of a number of case
studies as well as several industry experts as guest speakers.
Course Syllabus
*This Schedule will be updated throughout the course.
Most recent update: 8/20/14
Session #
Date
Topic
In preparation for this class:
1
August
25
Introduction
No preparation required
Vocabulary assignment to be distributed
2
September
September
1
8
No Class - Labor Day
Value Creation - The Business of Real Estate
3
September 15
4
September 22
5
September 29
Land Use and Zoning/Development Proformas
Distribute "Outparcel Development Opportunity"
Contracts/
Review "Outparcel Development Opportunity"
The Feasibility Analysis
Read Chapters 1, 2 and 3 of "Real Estate
Development Principles and Process"
Review vocabulary from 8/26 class
Read Chapter 13 of "Real Estate
Development Principles and Process"
Read Chapters 10, 11 & 16 of "Real Estate
Development Principles and Process"
Read Chapter 12 of "Real Estate
Development Principles and Process"
Read "Jerry Wolman: The World's Richest Man"
6
October
6
Guest Speaker: To Be Announced/
Discuss The World's Richest Man
7
October
13
Constructing the Project
Read Chapters 19 & 20 of "Real Estate
Principles and Process"
8
October
20
Construction Period Financing
Project #2 Assigned
Guest Speaker:
To Be Announced
Permanent Financing
Debt & Equity
Review of Project #2
Retail Development
Guest Speaker:
To Be Announced
No Class - Happy Thanksgiving
Affordable Housing/Green Building
Final Project Distributed
Read Chapter 7 & 8 of "Real Estate Development
Principles and Process"
**
Putting It All Together
**
Review of Final Project
Final Project is due
October
27
9
10
November
3
11
12
November 10
November 17
13
November 24
December 1
14
December
15
December 15
8
Read Chapter 9 of "Real Estate Development
Principles and Process"
Project #2 is due
**
**
Read Chapters 14 & 15 of "Real Estate
*Weekly assignments will be updated as the course progresses. Most assignments will involve reading selections from
"Real Estate Development Principles and Process" and a weekly case study (which will be provided the prior week) for
review.