# Calendar

Course calendar.
LEC # | TOPICS | RECITATIONS
--- | --- | ---
1 | Course introduction, portfolio theory |
2 | Portfolio theory and CAPM | Review of real estate finance from last fall
3 | CAPM (cont.) |
4 | REITs introduction | Portfolio exercise due Guest speakers: Cate Polleys and John Barrie, Fidelity
5 | REIT CF-based valuation (as stocks) | Coaching on "ABC REIT" excel model and/or Lincoln case
6 | REIT NAV-based valuation and asset valuation |
7 | Lincoln case due | Case discussion (cont.)
8 | REITs management considerations, wrap-up |
9 | CMBS introduction, CMBS structure (start) | Guest speaker on REITs
10 | CMBS structure and rating |
11 | CMBS rating and other topics | CMBS guest speaker
12 | Real estate equity derivatives: Index swaps |
13 | Course wrap-up, CMBS case due | Case discussion (cont.)