Real Estate Investment & Asset Management
Capital Markets, Debt & REITs
How real estate is financed and how capital is raised — the capital stack, debt, equity structures, REITs and listed real estate, and capital raising through the cycle, with emerging-market capital realities.
The promise
Structure real estate capital across debt, equity, and REITs through the cycle.
By the end you can
- Assemble a capital stack across debt and equity
- Structure REIT and listed vehicles
- Raise capital through the cycle
- Address emerging-market capital realities
Where this course takes you
This course is part of 2 role tracks. Each ends in a professional deliverable and stacks toward a named certificate.
You'll produce: An investment committee memo — underwriting, a valuation cross-check, due-diligence findings, financing, and a clear recommendation.
Real Estate Investment Analysis certificateYou'll produce: A business plan for an asset — value-creation levers, leasing strategy, capex, ESG, and a hold / sell view.
Asset Management & Value Creation certificateCurriculum
How Real Estate Is Financed
Debt versus equity, the capital stack, sources of capital, and the cost of capital that sets required returns.
Real Estate Debt
Loan types and key terms, sizing metrics (LTV, DSCR, ICR) and covenants, and how refinancing and default work.
Equity & Structures
Joint ventures and co-investment, funds and private equity, and how promote and the distribution waterfall split returns.
REITs & Listed Real Estate
REIT structure and rules, what drives REIT pricing, and the Saudi and UAE listed real estate market.
Capital Raising & the Cycle
Raising capital and investor relations, market cycles and liquidity, and the realities of raising capital in emerging markets.
Course assessment
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The capstone project
This course ends in a real professional deliverable. Complete the course — including the capstone — and your certificate is issued automatically.
Your final deliverable
Capital Structuring Capstone
A structured financing memo containing: (a) a capital stack table with layers, shares summing to 100 percent, and claim ordering; (b) a debt-sizing section showing the LTV-constrained and DSCR-constrained loan amounts, the binding constraint, and a covenant package; (c) an equity-structure section specifying JV or fund, governance/IR approach, and the four-tier waterfall logic with the promote; (d) a sources map linking each capital source to the layer and stage it fills, with justification; and (e) a prioritised top-risks section naming currency, liquidity, refinancing, cycle, and policy risks with a concrete mitigant for each. Every market-specific input must be explicitly flagged as requiring local market data rather than invented.
Graded on five criteria
- Method & rigour — The right framework, applied correctly, with the working shown — not just an answer.
- Data honesty — Every figure is sourced, triangulated, or explicitly flagged “requires local market data”. Nothing is invented.
- Analysis & judgment — Assumptions are explicit, at least one alternative is weighed, and the key risks are quantified.
- Recommendation — A clear, decision-useful conclusion a professional could act on — with the conditions that qualify it.
- Communication — Structured, concise, and client-ready — the argument lands.
Pass criteria
A submission passes when it meets the bar on all five criteria — the work is something a competent professional could put in front of a client or committee. The Verified Professional credential is issued on a pass.
Resubmission
Work that isn't there yet comes back marked “needs work” with specific feedback. You revise and resubmit — there is no penalty and no limit on attempts.
More in this academy
Investment Analysis Essentials
Underwriting fundamentals: cash flows, cap rates, and returns under uncertainty.
Asset Management & Value Creation
The owner-side discipline of growing an asset's income and value - business plans, NOI growth, leasing strategy, capex and repositioning, ESG, reporting, and the hold-vs-sell decision. This course takes the perspective of the asset manager acting for an owner or fund, translating an investment thesis into a live business plan and executing the value levers that move net operating income and, through it, capital value.
Real Estate Due Diligence
How to investigate a real estate acquisition before you commit. This course teaches the due diligence framework and red-flag thinking across the three core workstreams -- legal/title, financial/commercial, and technical/physical -- and shows how to turn findings into conditions, price chips, or a walk-away. Built for emerging-market realism, where title and registration risk is acute and thin data makes physical and commercial verification decisive.