Instructor - Dr Tom Geurts

This is a 10 hour course and costs $95

Learn the aspects of corporate finance that are directly relevant to the commercial real estate firm, like REITs, sale-leaseback, and advanced real estate investment analysis.

Course Summary

This course is about corporate finance as it relates to the Real Estate firm. It guides students through an analysis of concepts, methodologies and techniques in corporate finance, which are general to different types of firms. These include financing decisions, dividend decisions, long-term investment decisions, and the interaction between investment and financing decisions. The course then moves on the explore the issues in corporate finance that are specific to the Real Estate firm, namely: REITs, sale lease-back transactions, and advanced RE investment analysis. (Students who are new to the area of corporate finance may consider taking Joy Chan's Corporate Finance course, available through the Homburg Academy Courses on Demand portal).

How do I take this course?

This course delivers 10 hours of video lecture presentations on key topics in corporate finance that are specific to the real estate firm. You can download and print a copy of the presentation slides, and make notes as you follow along. To make it easier to absorb the material, each hour is divided into short segments, of about 15 minutes each. You can watch as many, or as few segments each day, or each week, in your own time. Each segment is followed by a short quiz to help you review, and test yourself about what you have learned.

Do I get a Certificate of Completion?

Yes. On completion of this course, you will be able to print a Certificate of Completion showing the overall average that you achieved in all of the quizzes. You may be able to take this to your university or college to ask for transfer credits, or to your professional association to see if you can be awarded continuing education credits.

This first session provides an overview of financial statement analysis, covering such things as debt, equity, liquidity, EBITDA, Net Present Value, and the life-cycle of firms.

Different forms of capital are more expensive than others. In this session, Dr Geurts shows you the differences between debt financing, equity financing, and delves into the implications of each for the firm. Learn how to calculate the weighted average cost of capital (WACC).
Delve more deeply into the issues that affect WACC, including floatation costs in the issuance of new equity, and the differences between types of stocks. Delve into the issues surrounding the Capital Asset Pricing Model (CAPM).
This session helps you to understand the various issues that can affect WACC, and leads you methodically through an understanding of advanced concepts in corporate finance.
There are specific issues in real estate that affect the corporate finance options and decisions for the commercial real estate firm, like the vacancy rate of properties, the capital intensity ratio, and the things that affect the profit margin. Follow Dr Geurts as he shows how corporate finance models are related to corporate finance considerations for the real estate firm.
This session leads you to think about the consequences of leverage for the real estate firm, including operating leverage and financial leverage.
Understand the yield curve, and also understand some of the off-balance sheet financing, such as leases, that can affect the appearance of risk in the firm.
Follow Dr Geurts as he illustrates the differences between warrants and bonds, including convertible and callable bonds, and their impact on the financing of the firm.
Learn how IPOs can impact the financing of the firm, and how the issuance of dividends and the repurchase of stocks can affect corporate finance.
Learn the difference between a hostile and friendly merger, and understand why Dr Geurts says that acquisitions generally create value.

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