June 10 ·
June 11 ·
June 12 ·
Continuing Education Units
Course Facilitator:
Dr. Norman Miller,
Professor and Director of Academic Programs,
University of San Diego |
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Dr. Norman Miller is a Professor at the Burnham Moores Center for Real Estate in San Diego where he works with the MSRE graduate program oriented towards sustainable and responsible real estate. He is active on the Editorial Board of several national and international journals and has numerous academic articles, books and articles in trade publications. His book, Commercial Real Estate Analysis and Investment with David Geltner, is the leading seller among top graduate programs around the world.
After receiving his Ph.D. from Ohio State, Miller was an assistant professor at the University of Georgia until 1981 when he became the Director of the Real Estate Center and holder of the West Shell, Jr. Professorship at the University of Cincinnati from 1981 through 2007. He was a visiting Chair holder at the University Of Hawaii College Of Business and a visiting scholar at DePaul University in Chicago in 2003-2004. His research interests include the impact of green strategies on real estate, multifamily market selection, housing price trends, mortgage risk analysis, automated valuation as well as commercial valuation models and REITs. In addition, Dr. Miller serves as a NAIOP Distinguished Fellow.
Tuesday, June 10
Registration and Continental Breakfast
8 - 9 a.m.
Introduction and Welcome
9 - 9:30 a.m.
Feasibility Analysis, Highest and Best Use and Data
9:30 - 11 a.m.
This session will enable participants to determine the feasibility of a potential development site. In determining whether or not to pursue a development opportunity, we'll explore how to conduct a market and competitive analysis, discuss land use regulations and political/legal considerations and examine green design, LEED-certification, intelligent design and more.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Break
11 - 11:15 a.m.
Financial Analysis
11:15 a.m. - 12:30 p.m.
In this session, participants will learn how to formulate the cash flow proforma and identify key financial ratios and measurements of returns. We'll discuss key criteria for equity and debt providers in addition to defining front door and back door feasibility analysis. We will also define the land residual technique and discuss how it affects strategy and review a few cases to illustrate and test comprehension.
*Laptops are recommended for this portion of the course.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Lunch with Jon Cross, The Allen Group - Inland Port Developments 101
12:30 -2 p.m.
Financial Analysis: Leverage and Risk
2 - 2:30 p.m.
Participants will conduct exercises using provided Excel spreadsheets to perform a financial analysis and consider leverage and risk.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Valuation and Cap Rates
2:30 - 3:20 p.m.
We'll examine how to determine a property's value using the income approach and also take a look at cap rates' history and relationship to capital markets throughout the years.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Break
3:20 - 3:30 p.m.
Valuation and Cap Rates: Risk Analysis
3:30 - 5 p.m.
This session will delve further into the topic of valuation and cap rates as well as risk analysis. Participants will be given three homework assignments to strengthen their understanding of the day's subject matter.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Optional Networking Dinner
7 p.m.
Wrap up your day by joining your fellow attendees for an evening of dinner and networking! You are encouraged to register in advance for the optional dinners (additional registrations may be available onsite). Each attendee is responsible for payment of his or her own dinner at the restaurant.
Wednesday, June 11
Continental Breakfast
7:30 - 8:30 a.m.
Introduction to Day Two
8:30 - 8:45 a.m.
Dr. Norman Miller, Professor and Director of Academic Programs University of San Diego
Financing Basics: Permanent Financing
8:45 - 10 a.m.
This session will give you the tools to determine the best financing options for your individual project. Size up the sources of debt and the advantages and disadvantages of each. Permanent finance will take a look at the various resources available: banks, insurance companies, mortgage brokers and conduits, to help you decide which source is right for your project.
Richard Caterina, senior vice president, Johnson Capital Inc.
Break
10 - 10:15 a.m.
Construction Financing
10:15 - 11:15 a.m.
Construction finance will cover how much can be borrowed, on what terms and from whom, along with many other factors that need to be considered when making construction financing decisions.
David Bale, senior vice president/manager, real estate division, California Bank & Trust
Group Homework Session
11:15 a.m. - noon
Lunch on Your Own
noon - 1:30 p.m.
Geotech Site Analysis
1:30 - 2:45 p.m.
This session takes a comprehensive look at all of the aspects involved in conducting a geotech site analysis including environmental regulations, wetlands and endangered species.
Michael Chapin, PE, president and CEO, GEOCON Inc.
Break
2:45 - 3 p.m.
Site Analysis: A Planning Perspective
3 - 4 p.m.
The Geotech session continues by examining the planning issues involved in preparing a site analysis including site preparation, access, site layout and parking considerations.
Michael Chapin, PE, president and CEO, GEOCON Inc.
Land Control Site and Due Diligence: A Legal Perspective
4:10 - 5:15 p.m.
Learn to evaluate land control options from a legal perspective. We'll cover some of the many land control options and examine each from a legal point of view. Some of the options that will be reviewed include tying up the site and financing land.
David Bagley, Esq., Hecht Solberg Robinson Goldberg & Bagley LLP
Thursday, June 12
Continental Breakfast
7:30 - 8 a.m.
Introduction to Day Three
8:30 - 8:15 a.m.
Dr. Norman Miller, Professor and Director of Academic Programs,
University of San Diego
Design Overview/Working with Architects and Engineers
8:15 - 9:30 a.m.
All successful development projects have a cohesive and talented team of project architects and engineers behind them. This session outlines many of the unique building challenges facing the design/build team. Design options, design efficiency, facility ease of maintenance and a contracting and budgeting overview are just some of the issues that will be addressed. We'll also look into the growing demand for "green design" and the effect on the design/build team.
Tom Sullivan, development manager, Irvine Company; John Turpit, AIA, director, Corporate and Development Services, RJC Architects
Review Cash Flow/Feasibility Assignment with Group
9:30 - 10 a.m.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Group Presentations, Discussion and Recognition
10 - 11 a.m.
Dr. Norman Miller, Professor and Director of Academic Programs, University of San Diego
Summary of Core Competencies
11 a.m. - noon
Dr. Miller will examine the core competencies of the course and discuss their practical application in the workplace.
Dr. Norm Miller, Professor and Director of Academic Programs, University of San Diego
Noon
Course Concludes
Continuing Education Units
NAIOP will apply for Continuing Education Units for conference attendees. Bring your real estate broker's license number and record your name and license number each day of the conference.
NAIOP will apply for continuing education units toward renewal of real estate licenses in California, Arizona, Georgia along with AIA Learning Units.*
*Applying for credit does not constitute approval.
The following have approved CEUs:
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