EXECUTIVE REIT MASTERCLASS
New Executive REIT Masterclass to begin June 18th, 2024 – Enroll Now!
What is it?
A new and unparalleled deep dive into examining the public REIT industry and to understand the structure, operations and growth strategies of the REITs themselves.
Who Will Benefit
We have no pre-set requirements to enroll in the program. However, a sincere desire to learn the material – some of it complex – plus a reasonable understanding of real estate finance will be helpful.
Cost
We are offering the Executive REIT Masterclass at an Introductory Rate of $2,900 for the six (6) week program. We will set aside one “Scholarship Seat” several times per year for a qualified candidate that meets certain criteria.
PARTICIPANT’S REQUIREMENTS FOR THE EXECUTIVE REIT MASTERCLASS
- A REIT Textbook will be selected and chapter readings will be assigned.
- Active participation in class discussions is required.
- REIT Research Reports from a variety of sources will be distributed weekly for class discussion.
- A 10-Page Term Paper on a REIT selected by each student is required – examples will be provided.
- A Certificate of Completion will be awarded to each participate upon completion of the Program and all course requirements.
- Guest Speaker Series. Every two weeks, we will welcome a guest speaker from the REIT industry to contribute their thoughts and views. We will tie the speaker and discussions to the point we have reached in the program. Guest speakers offer real time intel and are a source of insightful, and candid opinions.
SAMPLE CLASS MODULE
WEEKS 1-2
- Foundation, Structure, History of a REIT. Differences between Private Real Estate, private REITs, and a public REIT. Intro to UPREIT structure.
- REITs versus Direct Real Estate: A Huge difference; Examination of the Capital Stack between private and public platforms.
- REIT Sector Overview – Stay in your Lane – REITs focus on a single asset type.
WEEKS 3-4
- REIT Peer Group Analysis – How to tell which REITs should outperform others. Guest Speaker: TBD
- Metrics Matter: NOI versus FFO, FFO, Dividend Payout Ratios and Much More. PLUS: Rates & REITs.
- A Key Driver of Success: How REITs approach acquisitions and dispositions, development. M&A Accretion versus Dilution and growth plans. Guest Speaker: TBD 7 ESG, Corporate Governance, Franchise Value and other intrinsic valuation methods. Company Snapshot Assignment Due.
WEEKS 5-6
- REIT Accounting and Capital Expenditures. Off Balance Financing, Legit or no? Capital markets strategies for a REIT. Guest Speaker: TBD
- Valuation Methodologies. How do Buy Side analysts view the sector and the specific companies?
- Non-Core Assets inside a REIT? Strategies to refine a portfolio for future growth. Beware the use of sale proceeds by management. Guest Speaker: TBD
- New asset classes consider a public REIT model and why? What will work as a public REIT or public REIT other than the classic components of today?
- Wrap up and discussion of the future of the REIT industry. Guest Speaker: TBD
ON-SITE EXECUTIVE REIT MASTERCLASS
What is it?
A full day session of the Executive REIT Masterclass conducted on-site at your location of choice. Each participant will receive a curated presentation relating to the company’s objectives, receive the full scope of learning identical to the longer course, and hear from specifically selected Guest Speakers. This one-day session starts at 8:00am and goes until 5:30pm.
Eligibility
Candidates should be senior executives within their company and should have a baseline knowledge of REIT’s.
Cost
We are offering the on-site Executive REIT Masterclass at $2,900 per participant, up to a maximum of $29,000 for 10 participants or more.
INTRODUCTION TO REITS COURSE
What is it?
The Introduction to REITs course is a one-day opportunity to learn the basics of the REIT industry. This lesson is designed to give the macro view of the industry and if interested is the perfect foundation for our Executive REIT Masterclass which offers more detailed learning.
Eligibility
This course is for those with no prior experience or understanding of the REIT industry.
Cost
We are offering the Introduction to REITs course at an Introductory Rate of $349 for the one-day lesson.
LEADERSHIP ADVISORY
What is it?
1:1 Coaching for C-Suite Executives and Directors. Optiional group engagement program within the same organization.
Eligibility
Candidates should have a high level understanding of the capital markets and a baseline knowledge of REIT metrics.
Cost
To be negotiated directly with the organization.
FREQUENTLY ASKED QUESTIONS
It is a very comprehensive program that will study the structure, mechanics, details and conversion process to become a public REIT. All metrics will be defined and examples applied. How these companies operate and grow will be explained. What to look for in a REIT, how to assess their business strategy and how to ascertain the credibility of management will be discussed. We will look back at how the industry blossomed at the dawn of the Modern REIT Industry. Many of us know about REITs yet the many elements that make them a successful, investable platform is a bit of a mystery.
The vast majority of real estate transactions are done privately. Beginning in the early 1990’s however, private firms sought an alternative to private capital and adapted to becoming public companies. The conversion process is very detailed and the post-IPO process is enormously complicated when compared to the private sector. Few successful private real estate company founders grasped the need to become “low levered” and report on activities frequently, all of which are hallmarks of a public REIT. We will spend time on how senior executives must adapt to the public model to succeed.
Those that did pivot and converted to REIT status and launched an IPO were rewarded with access to capital, an appreciating stock price and interest from major institutional investors. Since then, more than 20 REITs now have a total enterprise value of over $5 billion. Each.
Yes, we plan to have a Guest Speaker every two weeks. Each Guest Speaker will provide insight into how they approach their role in the REIT industry, what they look for and much more. One evening, our Guest Speaker will be Alex Pettee, President of Hoya Capital Real Estate. Alex was a former top student in Professor Morris’ graduate class at Georgetown University and launched Hoya Capital Real Estate. He holds the prestigious CFA Charter and created a new ETF called “HOMZ” (NYSE: HOMZ) which tracks the housing industry in America. Alex will do a deep dive into all REIT metrics with detailed explanations.
Yes. We will accept a maximum three (3) equal installments. The first payment must be made prior to any class starting. The final payment must be made on or before the final day of the Masterclass.
NOTE: Late payments are subject to a Late Fee. For individuals, the late fee is $290 per person. For groups, the Late Fee is $290/per person multiplied by the number of students in the group.(Example: Group of 3 Late Fee = $290×3 = $880).
If any payment is more than five (5) calendar days overdue, a Late Fee will charged.
