FOR IMMEDIATE RELEASE

INTRODUCTION TO FINANCE FOR REAL ESTATE DEVELOPMENT,
A NEW EXECUTIVE EDUCATION COURSE, OFFERED BY THE KNIGHT PROGRAM IN COMMUNITY BUILDING ON JANUARY 17-19, 2004

December 12, 2003--Introduction to Finance for Real Estate Development, held January 17-19, 2004 on the Coral Gables campus of the University of Miami, is an intensive introduction to the subject and the first of a projected series of executive education courses offered by the Knight Program in Community Building at the University of Miami School of Architecture. This course, and future courses, will combine real estate development with the School of Architecture’s expertise in New Urbanism.

Introduction to Finance for Real Estate Development will teach the basic concepts and tools used to analyze the financial feasibility of real estate developments. It will provide those without a strong financial background with the necessary training to communicate effectively with real estate professionals. The course includes case studies and sessions with real estate developers. No prior background in finance is needed.

This seminar will educate attendees on:

·         Capital cost, revenue and expense analyses

·         Static and dynamic measures of investment return

·         Financial leverage and financial risk

·         Lenders' algebra and basic market analysis

·         Real estate development case studies, including material on developing New Urbanism and Smart Growth real estate projects.

Course instructors are:

Tod McGrath, a finance instructor in MIT's Department of Urban Studies and Planning.  He has taught real estate finance and investments, real estate capital markets, and spreadsheet analysis at MIT, and has analyzed numerous real estate transactions for developers, institutional investors, lenders, and tenants.

William Gietema, Jr., co-founder and CEO of the Arcadia Realty Company, which has developed more than twenty residential and mixed-use communities in Dallas-Ft Worth, Austin, and San Antonio, Texas. Bill is responsible for the company’s entitlements, land planning and development operations. He holds a master’s degree in Real Estate Development from the MIT Center for Real Estate.

Dr. Andrea J. Heuson, associate professor, Finance Department at the University of Miami School of Business.

Charles C. Bohl, research associate professor and director of the Knight Program in Community Building at the University of Miami's School of Architecture.

Fee and Information

The course fee is $900 ($450 for public sector employees). Checks or money orders should be made payable to the Knight Program. This course awards AIA Continuing Education Learning Unit hours through AIA Miami.

For more information and updates, please visit our website www.arc.miami.edu/knight or contact Julia Pizarro at jpizarro@miami.edu or 305.284.3731.

About the Knight Program in Community Building

The mission of the Knight Program in Community Building is to advance the knowledge and practice of effective community building through an innovative series of interdisciplinary initiatives including fellowships, scholarships, conferences, charrettes, courses, and publications.The Knight Program is based at the University of Miami School of Architecture and is funded by the John S. and James L. Knight Foundation, which promotes excellence in journalism worldwide and invests in the vitality of twenty-six U.S. communities.

###