Real estate asset management is a complex and diverse function that has evolved over the past few decades to emerge as an integral area of practice within the world of commercial real estate. There are many approaches, definitions and models of asset management, and the skills required of and functions performed by an Asset Manager depend on several variables of a portfolio, including: the size and scale of an organization, the number and type of assets under management, the business goals of the owners (e.g. current income vs. capital gain), as well as the nature of the mandate (internal or outsourced to a third party). Asset Management continues to expand in order to help deal with the numerous and varied issues between owners, consultants, property managers, accountants, tenants, capital markets and regulatory authorities.This course will discuss the goals, benefits, common skills and operating models of the real estate asset management function; and, will explore the context of operations in which the function is performed. In addition, this course will utilize a combination of lectures and the business case method of learning pioneered by the Harvard Business School and used by business schools globally including the Richard Ivey School of Business. See below for more on the "case method" as well as pre-course preparation instructions.
- Understand the asset management function as well as the skills and experience required of an asset manager
- Review the differences between property management and asset management
- Appreciate the risks, benefits and costs of various asset management mandate models
- Be introduced to the cross-functional interplay between asset management and property management, finance, leasing, accounting, legal, development, tax, and sales & marketing
- Be exposed to various real estate management organizations and structures (e.g. pension funds, private investors, public companies, real estate private equity funds etc.) and how they relate to the various asset management mandate structures
- Participate in moderated class discussions, group exercises, and case studies
- Gain practical insight from industry professionals
- Overview of the asset management function
- Portfolio management
- Review of budgeting and planning processes
- Mergers and acquisitions
- Evaluating hold / sell decisions
- Public and private financing
- Build vs. buy decision making parameters
- Valuation analysis
- Client services and reporting
KEY LEARNING OUTCOMES
- Familiarity with the skills and experience required of an Asset Manager
- Clearer knowledge of the general goals of the Asset Manager
- Greater awareness of the advantages and disadvantages of internal, third party, and fund structure
- Asset Management mandate models
- Deeper knowledge of the challenges facing asset managers and the interplay of asset managers with others functions within a real estate organization
- Ability to identify the key performance indicators used by the asset manager in performing his or her function
WHO SHOULD ATTEND
- Asset managers who are looking to deepen their understanding of the function and who are keen to study and interact with other professionals involved in Asset Management
- Real estate professionals wishing to pursue a career in Asset Management
- Owners who are looking to gain a better understanding of the advantages and disadvantages of different asset management mandates
- Investors looking to invest in a real estate fund or engage third party asset managers
- Legal, accounting, banking, finance, and advisory client service professionals looking to broaden their understanding of their clients’ needs
- Brokers, analysts, property managers, leasing specialists, and others looking for an opportunity to broaden their knowledge in this field
- Human Resource and recruiting professionals looking to better understand the skills, experience, and value of employees and prospective candidates
Lachlan MacQuarrie, B.Sc.Eng., M.Pl., M.B.A. Vice President, National Programs Oxford Properties Group Inc.
John Khajadourian, B.A.Sc. (Eng.), M.B.A. Principal Windrock Capital
DATE & TIME
Wednesday May 29th, 2013 - Thursday May 30th, 2013
08:30-09:00 – Registration
09:00-12:00 - Part I (15 minute break*)
12:00-13:00 – Group Lunch
13:15-17:00 - Part II (15 minute break*)
FOOD & BEVERAGE
- Continental breakfast available at registration
- Group lunch
- Refreshments offered during morning and afternoon breaks.
Early Bird Special (closes April 29, 2013):
REALpac Member Company*: $1,345
Non-Member Company: $1,845
REALpac Member Company*: $1,395
Non-Member Company: $1,895
* To determine if your company is a REALpac Member, click here.
THE CASE METHOD
This course will utilize a combination of lectures and the business case method of learning pioneered by the Harvard Business School and used by business schools globally including the Richard Ivey School of Business. The case method is an interactive learning method and uses real world cases to illustrate and achieve learning objectives. It focuses on decision making in complex, real world business situations as opposed to traditional, theoretical lectures. Prior familiarity with the case method is not expected or necessary as the method will be introduced to participants through a reading and a short discussion. The power of the case method comes from the fact that participants in the course will be asked to make specific recommendations for a given case and are expected to share their opinions, experience, analysis and insight with their peers and classmates as facilitated by the instructors. In this manner, all participants will benefit from the collective experience and insight of the whole group.
PRE-COURSE PREPARATION - INSTRUCTIONS
Participants will be expected to prepare the 3 cases used in this course prior to the start of the 2 day session by reading all of the case materials and using the provided templates to prepare qualitative and quantitative analyses. Participants will then be expected to share and discuss their results and opinions with their group members and the rest of the class during the 2 day session.Formal presentations will not be required or expected, however, participants will be asked to take a position regarding the central issues of the case and explain their reasoning and supporting analysis for their decisions during the case discussions in class.Participants will receive the case materials electronically approximately 3 weeks prior to the course in order to have time to prepare. Each case will take approximately 1 to 2 hours of personal preparation time prior to the start of the course, depending on the participant's familiarity with the issues, comfort level with the required analysis methods and experience.
REALpac reserves the right to cancel course offerings based on low attendance numbers for 100% refund on registration fees only. Participant cancellations must be received in writing, at least five business days prior to the event for a 75% refund. Substitutions are permitted.
REALpac ACCESSIBILITY FOR PERSONS WITH DISABILITIES CUSTOMER SERVICE POLICY
In fulfilling our mission, REALpac is committed to providing its goods and services in a way that respects the dignity and independence of people with disabilities. We are also committed to giving people with disabilities the same opportunity to access our goods and services and allowing them to benefit from the same services, in the same place and in a similar way as other customers. If you require alternative means of communication (e.g., TTY, relay services, etc.), require assistive devices, or will be accompanied by a service animal and/or support person(s), please let us know. To view the REALpac Accessibility for Persons with Disabilities Customer Service Policy, please click here.
CONSENT TO USE OF PHOTOGRAPHIC IMAGES
Registration and attendance at, or participation in, REALpac professional development, events, meetings and other activities constitutes an agreement by the registrant for REALpac to use and distribute (both now and in the future) the registrant or attendee's image or voice in photographs, videotapes, electronic reproductions, and audiotapes of such events and activities.