Archived Versions

11.432J / 15.427J Real Estate Capital Markets

As taught in: Spring 2007

Photo of skyscrapers.

Leading firms are involved in real estate securitization in New York City. (Photo courtesty of




Prof. David Geltner

Prof. Tod McGrath

Course Features

Course Description

This half-semester course introduces and surveys the major public capital market real estate vehicles, REITs and MBS (with primary emphasis on CMBS). Some background is also included in basic modern portfolio theory and equilibrium asset pricing. This course is primarily designed to provide MSRED students with a basic introduction to the public capital market sources of financial capital for real estate, and how those markets value such capital investments.

Technical Requirements

Special software is required to use some of the files in this course: .xls.