MASSACHUSETTS INSTITUTE OF TECHNOLOGY

COMMERCIAL
REAL ESTATE
ANALYSIS AND
INVESTMENT
ONLINE SHORT COURSE

Gain a deeper and broader understanding of commercial real estate investment,

guided by industry experts.
ABOUT THIS COURSE
Commercial real estate is concerned with property used for lucrative long-term investment opportunities, serving
as a hedge against the volatility of common investment markets. This course applies concepts from financial
economics to commercial real estate, providing you with methods to answer real estate investment questions,
along with the tools necessary to make sound investment decisions in the real world.

To generate a holistic overview of real estate analysis and investment, this program will consider real estate from
both the micro and macro perspectives. At the micro level, this course will introduce you to the basic principles
of real estate assets and the valuation of individual real estate investments. At the macro level, this course will
examine real estate capital markets consisting of a portfolio of numerous individual properties.

Taught by leading MIT Professor David Geltner, the program begins with an overview of fundamental economic
principles and progresses to more complex financial and investment analysis. By the end of the program,
you’ll walk away with the ability to apply cutting-edge insight to current investment property markets.

WHAT THE You’ll also have the opportunity to analyze the

PROGRAM COVERS viability of real estate development projects in terms

of project costs and benefits. These projects will be
This 6-week online program sets out to present
considered against the backdrop of the broader
you with a comprehensive overview of key
markets shaping investment today.
financial tools and principles relevant to
commercial real estate investment.
US$2,500*
*Price subject to change*
Starting from a micro-level perspective, you’ll
apply core economic concepts such as returns,
risk and uncertainty, opportunity costs, discounted 6 weeks,
cash flows (DCF), net present value (NPV), and excluding orientation
financial leverage to inform real estate investment
decision making. On a more macro-level, this
7-10 hours/week of self-paced
program investigates portfolio theory, performance
learning, entirely online
attribution, and benchmarking.

Real estate accounts for one-third of the value

of all capital assets in the world, with over $30 trillion
of assets in the United States alone.
1 Geltner, Miller, Clayton and Eichholtz. 2007. Commercial Real Estate Analysis and Investments.

MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

THIS PROGRAM
IS FOR YOU IF:
You’re looking for a finance-focused approach to commercial
real estate investment.

You’re seeking a rare opportunity to learn about unique tools, terms and theories that
have been pioneered and developed by industry expert Professor David Geltner.

You want to validate your skills in commercial property investment with a certificate from
the MIT School of Architecture and Planning.

WHO SHOULD TAKE THIS COURSE?

This program is designed for finance, investment, and real estate professionals seeking an in-depth understanding
of real estate finance to guide their investment decisions. Whether you’re a banker, investment analyst, or portfolio
manager, if you’re wanting to broaden your understanding of real estate markets, this course will be relevant to you.
If you’re a real estate professional, engineer, or construction manager looking to gain skills to analyze the financial
viability and investment potential of your projects, this program will benefit your work. If you have no background in
real estate or finance and you’re looking to transition or grow into a real estate investment role, this program will give
you the competitive edge required to set you apart from the rest.

Students will come away from this course with a deeper and broader
understanding of the field of real estate investment that will enable them
to be more original, creative, and effective in practical circumstances.
– PROFESSOR DAVID GELTNER

MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

WHAT WHAT IS MIT CRE?

YOU’LL LEARN Find out more about

THE MIT CENTER

This online program integrates rich, interactive media such as FOR REAL ESTATE
videos, infographics, and e-learning activities as well as traditional
didactic components such as written study guides (course notes).
There are also opportunities for collaborative learning through
discussion forums. The following modules contribute to the holistic
approach your learning path takes:

ORIENTATION MODULE
WELCOME TO YOUR ONLINE CAMPUS
ONE WEEK
You’ll be welcomed with a personal call and get introduced to your
online teaching and technical support network. Begin connecting
with fellow participants while exploring the navigation and tools
of your Online Campus. Be alerted to key milestones in the
learning path, and review how your results will be calculated
and distributed.

You’ll be required to complete your participant profile,

confirm your certificate delivery address, and submit a digital
copy of your passport/identity document.

MODULE 1
FINANCIAL ECONOMIC CONCEPTS AND TOOLS
FOR REAL ESTATE
Apply financial economic concepts and tools
to real estate investments.

MODULE 2
THE REAL ESTATE SYSTEM AND THE SPACE MARKET
Analyze interactions within the real estate system, and the space
market in particular.

MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

MODULE 3
WHAT IS MIT SA+P?
MICRO LEVEL: PROPERTY VALUATION AND
INVESTMENT ANALYSIS Find out more about
Evaluate individual real estate investments using financial tools.
THE MIT SCHOOL
OF ARCHITECTURE
MODULE 4 AND PLANNING
LEVERAGE, AND FINANCING THE INVESTMENT
Leverage, and financing the investment.

MODULE 5
MACRO LEVEL: STRATEGIC AND TACTICAL TOOLS
FOR PORTFOLIO MANAGEMENT
Use strategic and tactical tools for evaluating and managing
a portfolio of real estate investments.

MODULE 6
INVESTMENT ANALYSIS OF REAL ESTATE
DEVELOPMENT PROJECTS
Evaluate real estate development projects using financial tools.


MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

WHO YOU’LL LEARN FROM
The design of this MIT online course is guided by faculty and industry experts from the MIT Center for Real
Estate who will share their experience and in-depth subject knowledge with you throughout the program.
FACULTY DIRECTOR
PROFESSOR DAVID GELTNER
Professor of Real Estate Finance at the
MIT Department of Urban Studies and
Planning, and Associate Director of
Research at the MIT Center for Real Estate
Professor David Geltner is an expert in commercial real
estate research and lead author of Commercial Real Estate:
Analysis and Investments, which is recognized
as the most widely-cited real estate investment textbook
in the world. Geltner has been at MIT since 2002 where
he has held the George Macomber Chair, and currently is
Professor of Real Estate Finance in the Department
of Urban Studies and Planning. Geltner has served
as Academic Director of the MIT Center for Real Estate,
and as faculty chair of MIT’s Master of Science in Real
Estate Development (MSRED) program. He received
the U.S. Pension Real Estate Association’s prestigious
Graaskamp Award in 2011 for excellence and influence in
real estate investment research.
YOUR
SUCCESS
TEAM
Receive a personalized approach to
online education that ensures you’re
supported by GetSmarter throughout
your learning journey.
MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT
INDUSTRY EXPERT
W. TOD MCGRATH
VP Finance, Boston Properties, and
Lecturer, MIT Center for Real Estate
Tod McGrath is a Lecturer at the
Center for Real Estate and a Vice President of
Finance at Boston Properties. McGrath teaches
courses for MIT’s Masters Program in Real Estate
Development and the Center for Real Estate’s
Professional Development Institute in real estate
finance and in negotiating development-phase,
operating-phase, and financing agreements
relating to real estate development ventures.
He has written many papers and case studies
on real estate finance and is also a two-time
recipient of the Shidler Award.
HEAD LEARNING FACILITATOR
A subject expert from GetSmarter and
approved by the university who’ll guide you
through content-related challenges.
SUCCESS MANAGER
Your one-on-one support at GetSmarter
available during University hours
(9am - 5pm EST) to resolve technical
and administrative challenges.
GLOBAL SUCCESS TEAM
This team from GetSmarter is available
24/7 to solve your tech-related and
administrative queries and concerns
A POWERFUL
COLLABORATION
The MIT School of Architecture and Planning
is collaborating with online education provider,
GetSmarter, to create a new class of learning
experience – one that is high-touch, intimate,
and personalized for the working professional.
WHAT IS MIT SA+P?
The MIT School of Architecture and Planning
is one of five schools at MIT, and comprises six
main divisions. Alongside the MIT Center for Real
Estate, MIT SA+P includes the first Department of
Architecture in the US, founded in 1868. It also
contains the oldest, continuous Department of
Urban Studies and Planning, founded in 1933,
which is ranked by Planetizen as the top planning
school in the US and Canada. The first university
Media Lab launched in 1980 at MIT SA+P, and it
continues to “check traditional disciplines at the
door” to empower the invention — and reinvention
— of how humans experience, and can be aided
by, technology. MIT SA+P is also the home to
the Norman B. Leventhal Center for Advanced
Urbanism, dedicated to guiding the future of the
built environment and cities.
WHAT IS GETSMARTER?
GetSmarter, a subsidiary of 2U, Inc., is a digital
education company that partners with the world’s
leading universities to select, design and deliver
premium online short courses with a data-driven
focus on learning gain.
Technology meets academic rigor in our people-
mediated model which enables lifelong learners
across the globe to obtain industry-relevant skills
that are certified by the world’s most reputable
academic institutions.
MIT SCHOOL OF
ARCHITECTURE AND
PLANNING CERTIFICATE
Assessment is continuous and based on a series of
practical assignments completed online. In order to be
issued with an MIT School of Architecture and Planning
certificate you will need to meet the requirements
outlined in the course handbook. The handbook will be
made available to you as soon as you begin the course.
Your certificate will be issued in your legal name and
couriered to you at no additional cost. All certificate
images are for illustrative purposes only and may be
subject to change at the discretion of the University.

A revolution is coming in real estate investment. ‘Rules of thumb’ and

‘conventional wisdom’ are out. Empirical data and analytics are in.
– PROFESSOR DAVID GELTNER

MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

HOW
infographics. However, you’ll still have access to
this content in the form of a downloadable PDF

YOU’LL
transcript if you’d prefer not to use Flash.

BROWSER REQUIREMENTS

LEARN We recommend that you use Google Chrome as

your internet browser when accessing the Online

Every course is broken down into manageable, Campus. Although this is not a requirement, we

weekly modules, designed to accelerate your have found that this browser performs best for ease

learning process through diverse learning activities: of access to course material. This browser can be
downloaded here.

• Work through your downloadable and online

instructional material
• Interact with your peers and learning facilitators
through weekly class-wide forums and small
group discussions
• Enjoy a wide range of interactive content,
including video lectures, infographics, live polls,
and more
• Investigate rich, real-world case studies
• Apply what you learn each week to quizzes
and additional enrichment activities
Each module is released weekly, allowing a flexible
but structured approach to learning. You’ll be
supported as you engage in individual activities and
group discussions, ensuring you feel confident to
submit your best work at each weekly deadline.
ADDITIONAL REQUIREMENTS
Certain courses may require additional software and
resources. These additional software and resource
requirements will be communicated to you upon
registration and/or at the beginning of the course.
Please note that Google, Vimeo, and YouTube may
be used in our course delivery, and if these services
are blocked in your jurisdiction, you may have
difficulty in accessing course content. Please check
with a Course Consultant before registering for this
course if you have any concerns about this affecting
your experience with the Online Campus.

TECHNICAL REQUIREMENTS
BASIC REQUIREMENTS
In order to complete a course, you’ll need a current
email account and access to a computer, the
internet, and Microsoft Excel. You should be familiar
with using a computer and accessing the internet,
as you may need to read documents in Adobe PDF
Reader, view Microsoft PowerPoint presentations,
and read and create documents in Microsoft Word.
Installing Adobe Flash Player will give you full
access to certain course content, such as interactive

MIT SA+P COMMERCIAL REAL ESTATE ANALYSIS AND INVESTMENT

 MASSACHUSETTS INSTITUTE OF TECHNOLOGY

COMMERCIAL
REAL ESTATE
ANALYSIS AND
INVESTMENT
ONLINE SHORT COURSE

Gain a deeper and broader understanding of the field of commercial real estate
investment, guided by industry experts.

REGISTER NOW

CONTACT US
US: +1 617 997 4979 | GLOBAL: +1 617 77 6889
EMAIL: mit@getsmarter.com