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The Complete Guide To Investing In Office Real Estate

How To Analyze Office Real Estate Investments For Smarter Investing
Instructor:
Justin Kivel
122 students enrolled
English [Auto-generated]
How to confidently invest in office real estate investment opportunities
How to analyze office real estate investments using an institutional-quality office acquisition model in Excel

Interested in learning how to analyze office real estate investments? This course was designed to take you from zero to hero in office real estate investing, After taking this course, you will be able to confidently analyze an office real estate deal, whether you’re looking to buy a property on your own, invest with partners, or land a job with a top office real estate private equity firm.

This curriculum was specifically designed with the following people in mind:

  • Aspiring commercial real estate investors who want to buy bigger properties with less headache – Office properties are generally larger and often entail fewer headaches than a single-family home investment, a fourplex, or even a small apartment building. The longer lease terms and business-oriented tenant base allows investors to take a more hands-off approach to office than residential real estate investments.

  • Students or career switchers who want to land a job in office real estate private equity – According to CEL & Associates, the 2017 median total compensation for an office acquisitions associate was over $133K per year. This course will teach you the fundamental office product-specific skills and knowledge you won’t be able to find anywhere else.

  • Passive real estate investors looking at investing in office real estate deals – Office deals can be extremely lucrative – long-term contractual lease obligations limit downside in the case of market corrections, operating income can be far more predictable than a single-family or multifamily real estate investment, and massive returns within short periods of time are very possible with lease-ups of large portions of a property’s square footage. But as a passive investor, do you really know what you’re getting yourself into? Is the property you are looking at a “good” deal? This course will teach you the main things you need to look out for when investing in an office real estate investment deal.

You’ll also get a complete “done-for-you” office acquisition model included with your enrollment, so you can practice everything you’ve learned in the course when looking at live potential acquisition opportunities. And with our 30-day money back guarantee, you can try the course out completely risk-free.

See you on the inside!

Credit to Bensound for the Intro Music!

Introduction

1
What We Will Cover - Part 1
2
What We Will Cover - Part 2
3
Who This Course Is For
4
About The Instructor & This Course
5
DOWNLOAD ME FIRST!
6
Disclaimer

Office Overview

1
Office Properties Overview
2
Office Real Estate Investors
3
Office Investment Benefits
4
The Office Underwriting Process
5
Steps In An Office Acquisition

Office Property Types

1
Office Property Types
2
CBD Office
3
Suburban Office
4
High-Rise Office
5
Creative Office Space
6
Co-Working Space

Office Property Composition

1
Suites & The Stacking Plan
2
FAR
3
Office Amenities
4
Energy Efficiency (LEED)
5
Loss Factor

Office Investment Metrics

1
Cap Rate
2
Cap Rate Exercise & Solution
3
Cash-on-Cash Return
4
Cash-on-Cash Return Exercise & Solution
5
Internal Rate of Return (IRR)
6
Internal Rate of Return (IRR) Exercise & Solution
7
Equity Multiple
8
Equity Multiple Exercise & Solution
9
Key Loan Metrics
10
Key Loan Metrics Exercise & Solution

Office Investment Analysis

1
Office Investment Risks
2
Office Investment Opportunities
3
Office Acquisition Analysis
4
Office Transaction Analysis
5
Asset Management & Leasing Analysis
6
Risk Profile & Return Requirements
7
Office Capital Risk Buckets
8
Office Capital Risk Bucket Examples
9
Understanding Office Markets

Office Revenue Drivers

1
In-Place Rent & Tenant Profiles
2
Square Footage & The Pro Rata Share
3
Rent Escalation Schedules
4
Base Rent Sensitivity Exercise
5
Annual vs. Periodic Rent Increase Sensitivity
6
CAM Reimbursement Structures Overview
7
NNN Leases Exercise & Solution
8
FSG Exercise & Solution
9
MG Exercise & Solution
10
Base Year Stop Exercise & Solution
11
Re-Leasing Assumptions
12
General Vacancy & Credit Loss
13
Other Lease Terms

Office Expense Drivers

1
Property Taxes
2
Insurance
3
CAM & Property Management Fees

Office Capital Expense Drivers

1
Capital Expense Reserves
2
Leasing Commissions
3
Leasing Commissions Exercise & Solution
4
TI Allowance
5
TI Allowance Exercise & Solution
6
Office Mini-Model Walkthrough

Office Debt & Equity Financing

1
The Capital Stack
2
Cost of Capital
3
Office Fee Structures
4
The Waterfall Framework
5
Office Fee Structures Excel Exercise
6
Equity Waterfall Excel Exercise

Office Underwriting & Model Walk-Through

1
Office Underwriting Overview
2
Acquisition Tab
3
Office Leases Tab
4
Re-Leasing Assumptions Walk-Through
5
Operating Expenses Tab
6
Monthly & Annual CF Tabs
7
Debt Tab
8
Construction Budget Tab
9
Equity Waterfall Tab
10
Checks Tab

Office Acquisition Case Study

1
Office Acquisition Case Study Introduction
2
The Acquisition Tab
3
Loan Modeling
4
Modeling The In-Place Rent Roll
5
Uber Re-Leasing Assumptions
6
AirBnB Re-Leasing Assumptions
7
Lyft Re-Leasing Assumptions
8
Modeling Operating Expenses
9
Modeling The Construction Budget
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30-Day Money-Back Guarantee

Includes

4 hours on-demand video
3 articles
Full lifetime access
Access on mobile and TV
Certificate of Completion