LEARN REAL ESTATE FROM THE WORLD'S TOP INSTRUCTORS.
Dr. Tom Geurts
FRICS, BSc, MS, MS, PhD
Professor Tom Geurts, of George Washington University, holds a PhD in Real Estate and Finance from Pennsylvania State University (1998); an M.S., Economics, University of Amsterdam (1991); an M.S., Political Science, University of Amsterdam (1991), and a B.S., Civil Engineering, Higher Technical College Zwolle (1987). In his distinguished career, Dr Geurts was Director of Academic Affairs of the NYU Real Estate Institute, the largest masters-level real estate program in the world. He has also served as Director of Research, and authored and co-authored quarterly market reports for Manhattan, New Jersey, and Fairfield/Westchester, containing real estate market information, trend analysis, and predictions. Dr Geurts has Presented at twenty-six national and international conferences, taught numerous courses at four universities with high student ratings, gave guest lectures at another seven universities in Europe and North America. He is author of twenty-one academic publications, and will soon publish a book on Global Real Estate Investment in the Homburg-Oxford University Press Advances in Real Estate book series.
Introduction and Basic Accounting plus Finance Review
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.
The Cost of Capital
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).
Financial Planning and Forecasting
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).
Capital Structure Decisions
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.
Lease Financing
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.
Hybrid Financing
This session leads you to think about the consequences of leverage for the real estate firm, including operating leverage and financial leverage.
Distributions to Shareholders: Dividends and Repurchases
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.
Evaluating Cash Flows
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.
IPOs, Mergers, LBOs, Divestitures, and the Role of Investment Banks
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.
Multinational Financial Management
Learn the difference between a hostile and friendly merger, and understand why Dr Geurts says that acquisitions generally create value.
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