CCIM CI 104: Investment Analysis for Commercial Investment Real Estate

Date: 29 May – 02 June 2019
Venue: Moscow, to be announced

Course instructor

Joseph Larkin, CCIM, MCR, SIOR, is President at First Realty, Inc. in Denver.

During his 40 years in commercial real estate, Larkin has specialized in appraisal, development, industrial, leasing, multifamily, and office.

Larkin has been a CCIM Institute instructor since 1997 and has also taught as an adjunct professor at University of Denver and New York University. He was recognized as CI 103 Instructor of the Year on three separate occasions by Institute faculty. He was also recognized as the Business of the Year from the Chamber of Commerce 2006.

Larkin received his Master of Science in Real Estate from the University of Denver. He is also a General Certified Appraiser and real estate broker licensed in multiple states, is an active member of SIOR and holds ASC, CIPS, and MCR designations.

CI 104 encompasses the entire life cycle of an investment, from refinancing to capital improvements to disposition. Within each case study, you will encounter a key investor decision: Should a non-taxable investor acquire an investment with or without debt financing? What if the investor is taxable? During the holding period of an investment, should an investor make a discretionary capital expenditure or not? How does an investor evaluate disposition alternatives?

CI 104 uses advanced analyses to build on the core CCIM concepts. Sensitivity analysis allows you to pinpoint exactly how slight changes in market fundamentals affect investment goals. Risk analysis uses past performance to anticipate how an investment is exposed to external and internal threats. Learn how to mitigate those threats through smart planning and negotiations.

After completing this course, you will be able to:

  • apply key investor decision-making analyses to optimize investment returns;
  • more effectively forecast investment performance by quantifying real estate risk; and
  • leverage CCIM analytical tools to improve decision making.

Table of Contents

Module 1: Introduction to Investment Decision Making
Module 2: Ownership Entities
Module 3: Taxation
Module 4: Financing Real Estate Investments
Module 5: Real Estate Risk Analysis
Module 6: Investment Valuation and Performance
Module 7: Asset Management
Module 8: Hold and Dispose Alternatives

Case Study 1: A Review of the Complete Cash Flow Model
Case Study 2: Acquisition Analysis for a Nontaxable Investor
Case Study 3: Acquisition Analysis for a Taxable Investor
Case Study 4: Discretionary Capital Expenditure
Case Study 5: Hold versus Dispose Analysis
Appendix: Building the Foundation for Persuasive Presentations

Nikita Kisel
8 (495) 651-61-05, (ext. 103)