CI 103 - User Decision Analysis for Commercial Investment Real Estate

Essential Skills

Considered by many in the industry to be the most comprehensive course on comparative lease analysis available anywhere. By the end of this course you will have acquired the skills necessary to:

• Apply the transaction management process to investor and user representation.
• Master Comparative Lease Analysis Techniques, such as leasing vs. owning and building vs. buying.
• Negotiate leasing terms and complete the transaction.
• Value leasehold interests and subleases.

Overview

Leases are the engines that drive the value of commercial real estate. Keeping this concept at the forefront, this course explores all pertinent aspects involving the valuation and costs of commercial leasehold interests from the user's perspective. Common terminology involving lease preparation will be defined, and negotiation tactics will be discussed. Participants will also learn strategies needed to counsel clients on the critical decision of leasing versus owning, building versus buying, as well as alternative strategies to a conventional lease. Examples of lease options will be addressed through several real-world case studies.

Highlights

Make Decisions Involving Future Benefits and Costs

• Review basic valuation concepts.
• Gain a better understanding of how timing of operating cash flows affect an investment's value and rate of return.
• Learn expanded time value of money (TVM) analysis techniques and the concept of risk and return.

Transaction Management and User Decision Process

• Identify motivations for space investors and space users.
• Determine the difference between types of real estate markets.
• Learn the role of the manager in the transaction management process.
• Apply the transaction management process to investor and user representation.

Understand Lease Terminology

• Comprehend common rent terminology, including language involving gross, rentable and useable areas, percentage rent, common area maintenance, and escalation clauses.
• Understand language involving applicable expenses in leases and other clauses.

Use Your Laptop Computer

• Practice analysis techniques using custom designed CCIM Excel®-based programs to solve case study problems
• Access additional references, tools and interactive business forms included on a customized
  CD-ROM

Learn Comparative Lease Analysis Techniques

• Calculate the costs for leasing versus owning.
• Examine the benefits of buying versus building.
• Determine the costs of subleases and buyouts.
• Learn alternative user decisions, such as ground leases, equity leases and sale-leasebacks.

Valuing Leases

• Value leasehold interests and subleases in markets with differing market rents.
• Make the lease buyout decision.
• Learn the risks of subleasing.

CI 103 Executive Course Offerings

In addition to the standard five-day course format, a select number of CI 103 - User Decision Analysis for Commercial Investment Real Estate courses are presented through our Executive Course Offering Program. This program consists of two days of self-study and three days of in-class instruction. Students are sent the course reference materials approximately two weeks in advance of the course to prepare them for the in-class presentation. Students are expected to come to class having reviewed and completed all the required pre-study assignments. Executive Course Offerings will also have a special forum within the CCIM web site where students can post questions prior to the course. Questions posted to the forum are monitored and answered by instructors.

Special Note for Executive Course Offerings: Please register at least three weeks prior to course date to receive the course materials in advance to prepare for the class.

Course Details for CI103

Course Length: 5 days, 8:30 a.m. - 5:30 p.m.

Executive Offerings: 2 days self-study; 3 days in-class, 8:30 a.m. - 5:30 p.m. (classroom days one and two); 8:30 a.m. - 5:00 p.m. (classroom day three)

Credit: 3 CCIM Core Course Credits

Prerequisites: CI 101

Tuition:

Course Fee
Candidate	$1,090
Non-Candidate	$1,345

Challenge Program Tuition Fee
Candidate	$1,090
Non-Candidate	$1,345
International Candidate	$825
International Non-Candidate	$975

Required Calculator: Hewlett-Packard financial calculator. The HP-10B II is highly recommended because of its reasonable costs and because CCIM course materials illustrate the keystrokes of this model.

Laptop Computer Required: This course uses Excel® worksheets provided on a CD-ROM to help solve the class activities and for use on the final exam. Students who bring laptops to class and are familiar with Excel® will receive the most benefit from the course material.

Student Technology Requirements:

Please view the CI103 technology requirements.

Examination: An exam is administered on the final day of class. A score of 70% or higher is needed to receive CCIM course credit.

For additional information on CCIM courses, please complete our course information request form, call (800) 621-7027, or send us an e-mail.

Other Courses

CI Intro - Introduction to Commercial Investment Real Estate Analysis
CI 101 - Financial Analysis for Commercial Investment Real Estate
CI 102 - Market Analysis for Commercial Investment Real Estate
CI 104 - Investment Analysis for Commercial Investment Real Estate
CCR - Course Concepts Review