Global Learning for Operational Leaders
Course AF-051
Real Estate Project Finance, Funds and REITs
Access to capital decides which real estate projects go ahead and on what terms. Developers and investors need to understand the full range... The outline covers The Real Estate Capital Stack, Development and Investment...
- 5 daysClassroom or online
- 13Upcoming dates
- 6Cities
- €1,845Fees from
Classroom
13 sessions
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Online / Live
13 sessions
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Introduction
Course overview
Access to capital decides which real estate projects go ahead and on what terms. Developers and investors need to understand the full range of funding options, from bank loans and project finance to joint ventures, private funds and real estate investment trusts.
This course explains how real estate projects and portfolios are financed, how lenders and investors assess them, and how funds and REITs are structured and evaluated. Participants learn to choose a suitable funding structure and to prepare a convincing case for financiers.
What you will achieve
Learning objectives
- Compare the main sources of debt and equity for real estate
- Understand how lenders assess development and investment loans
- Structure project finance, joint ventures and mezzanine funding
- Explain how real estate funds and REITs are structured and regulated
- Evaluate funds and REITs using key financial measures
- Prepare a financing proposal for a real estate project
Who should attend
Target audience
- Finance and investment managers in real estate companies
- Developers and development finance managers
- Bankers and credit analysts in real estate lending
- Fund, family office and wealth management professionals
- Treasury and corporate finance staff
Methodology
Learning approach
- Expert briefings on real estate capital markets
- Worked examples of financing structures
- Case studies of funded projects, funds and REITs
- Group exercise to structure a project financing
- Presentation of financing proposals
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
The Real Estate Capital Stack
- Debt and equity in real estate
- Senior debt, mezzanine and preferred equity
- Cost of capital and investor expectations
- Coffee break
- Cost of capital and investor expectations (continued)
- Islamic and alternative financing structures
- Matching funding to project risk
Day 2
Development and Investment Lending
- How lenders assess real estate loans
- Loan-to-value, loan-to-cost and interest cover
- Covenants, security and guarantees
- Coffee break
- Covenants, security and guarantees (continued)
- Drawdowns and monitoring during construction
- Refinancing and exit
Day 3
Project Finance and Joint Ventures
- Project finance principles for real estate
- Joint venture structures and waterfalls
- Aligning developer and investor interests
- Coffee break
- Aligning developer and investor interests (continued)
- Off-plan sales as a funding source
- Exercise: structuring a project financing
Day 4
Real Estate Funds and REITs
- Private real estate funds and their structures
- REITs: structure, regulation and distribution rules
- Key measures: NAV, FFO, dividend yield and gearing
- Coffee break
- Key measures: NAV, FFO, dividend yield and gearing (continued)
- Listed versus unlisted real estate
- Evaluating a fund or REIT
Day 5
Preparing the Financing Case
- What financiers look for
- The financing proposal and information memorandum
- Negotiating terms with lenders and investors
- Coffee break
- Negotiating terms with lenders and investors (continued)
- Group presentations of financing proposals
- Personal action plan
Course FAQs
Questions about this course
What participants and training managers usually ask before booking Real Estate Project Finance, Funds and REITs. Can't find your answer?
What does Real Estate Project Finance, Funds and REITs (AF-051) cover?
This course covers Accounting and Finance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 21 - 25 December 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
Finance and investment managers in real estate companies, Developers and development finance managers, Bankers and credit analysts in real estate lending
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include Kuala lumpur, Dubai, Istanbul, Rome, Vienna, Barcelona.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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