Thursdays

9:30am - 11:00am

Online

9/24, 10/1, 10/8, 10/15, 10/22, 10/29

Six sessions

This course is offered online via the free, easy-to-use Zoom program.

This course explores the role real estate investments have played over the years and to look at future opportunities and challenges in light of our current economic and investment environment. We will discuss real estate’s important role in the Great Recession, and how such events be avoided in the future, and explore the impact that real estate plays in our communities in providing housing for people – affordable/workforce housing and homes that are affordable to our growing younger adults. The role of real estate investment trusts as an investment vehicle, along with commercial mortgage backed securities and other real estate debt instruments, will also be reviewed.

Recommended readings and viewings:

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System from Crisis by Andrew Ross Sorkin, Viking-Penguin 2019.

The Big Short: Inside the Doomsday Machine by Michael Lewis, W.W. Norton, 2010, as well as the movie of the same name.

99 Homes, directed by Ramin Bahrani, 2014, a movie that emphasizes the horror and greed of that point in time in the US.

Stephen Pearlman has over thirty years of experience teaching college courses on real estate as an adjunct professor, including graduate level courses in Columbia University’s School of Architecture, Planning & Preservation; undergraduate-level and graduate-level course at the Zicklin School of Business at Baruch College; and graduate-level coursework in the Masters of Science in Real Estate program at New York University. He has been involved in over $8 billion of transactions advising institutional, corporate, as well as other real estate owners and investors in the structuring and execution of asset sales, note sales, sale leasebacks, financing and other capital markets transactions. His responsibilities included the disposition of investment properties, the sale of loan portfolios and the debt origination on behalf of institutional, corporate and private owners of real estate. He holds an MBA in Finance and Investments from Baruch College.

Recommended Reading:

OLLI Real Estate 2020 Syllabus.doc.docx

Economist Housing Special Report 1-16-20.pdf

Presentation Materials from 9/24/20:

Slides on RE Structures.pptx

PPT_RECapitalMarketData.pdf

CRE cycles.pptx

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