A practical guide to real estate asset management.

Name: A practical guide to real estate asset management.
Rating: 5.0 (3 reviews)

Learn the most compelling techniques how to add both add and defend value throughout the cycle of ownership of CRE.

Created byTim Nalder

Last updated 8/2025

English

What you'll learn

Learn the techniques that a real estate asset manager needs to employ to ensure the acquisition meets the target returns set.
Describe the tasks of an asset managers from acquisition, management and disposal of the asset is explained.
Recognise the difference between different fund styles, what assets they acquire and their objective returns.
Learn the key metrics for an asset manager to both maintain value of the asset as well as to better negotiate with a tenant.
Identify the threats of real estate assets over time so that you can better negotiate or avoid them altogether.
Value the impact of ESG on real estate as well as techniques for defending real estate values when negotiating with tenants.
Design a 360º SWOT analysis that is the tool to detect real estate opportunities in a competitive market.

Course content

14 sections • 107 lectures • 3h 53m total length

Introduction to course0:50
Introduction to the practical guide of real estate asset management: from basic to advanced techniques.
Course contents 1/21:23
1 INTRODUCTION
Who is the course for?
About the instructor
Disclaimer
Definition & introduction to Asset Management
2 STRUCTURE OF FUND MANAGEMENT BUSINESS
Sources of capital
Structure of fund & asset management business
Examples of commercial real estate
Classification of assets
3 WHY INVEST IN THE DIFFERENT COMMERCIAL SECTORS?
Ranking of volatility per sector
Performance analysis per sector
4 DANGERS THAT AN ASSET MANAGER SHOULD PREVENT
Danger 1: Loss of purchasing power
Danger 2: Obsolescence & Lifecycle of building
Proportion of construction costs for different assets
- Offices
- Logistics
- Retail
- Residential
Danger 3. Incorrect market rent analysis
- Retail
Modern market standards for different commercial sectors
- Offices
- Logistics
- Residential
5 KEY METRICS FOR AN ASSET MANAGER
- Frequently used yields and their calculation
- Gross vs. Net yields
- Over-rent and under-rent
- ERV and comfort range
- Lease analysis
- Covenant analysis & Guarantees
- Security of lease contract
- WAULT and WALT
- Lease expiry analysis
- OPEX & CAPEX
6 ACQUISITION AND THE DUE DILIGENCE PROCESS
- What is a sales memorandum?
- What is a due diligence process?
- Role of Asset Manager during acquisition and due diligence
Course contents 2/21:40
7 MANAGEMENT OF AN ASSET OR PORTFOLIO
- Overview of Asset manager role
- Relevant Tasks Asset Manager vs Property Manager
8 REPORTING
- How to manage a Property Manager & reporting
- Tasks of Asset Manager & reporting
- Asset management calendar
- Net operating income template
- Monthly/Quarterly reporting
- Annual business plan
9 RETURN CALCULATIONS FOR REPORTING
- Cash on cash unleveraged & leveraged
- Return on cost
- Residual development
- IRR & Equity Multiple
10 HOLD SELL ANALYSIS
- Infrastructure changes in Madrid
- 360º SWOT.
- How to perform the analysis
- Strengths of asset
- Strengths of market
- Positioning of asset
- Capitalisation rate calculation
11 HOW TO ADD VALUE TO A PORTFOLIO
- Strategic overview
- Real estate cycles
- Rent free
- Stepped rent
- Capital contribution
- Turnover rent
- Acquisition of under-rented / over-rented assets
12 VALUE DESTRUCTION
- How prime assets become value add
- Standard errors of Asset Managers
- Pros & Cons of Sales & Leaseback deals
13 ENVIRONMENT & SUSTAINABILITY
- Public policy
- Installation improvements
14 KEY TIPS FOR NEGOTIATING WITH TENANTS
Key tip 1: Investment & accounting
Key tip 2: VUCA & Asset management
15 SALE PROCESS
- Analysis and recommendation
- Process for a successful of sale
- Off market disposals
Who is the course for?0:34
Junior to mid-level real estate professionals seeking to upskill.
Real estate investors who want to understand asset management techniques.
Students of real estate, finance, or business looking for practical applied knowledge.
Small business owners with property portfolios seeking to add value.
About the instructor1:39
Learn about the work experience of your instructor. He has mastered the techniques to defend and to add value to a real estate portfolio and will share the compelling methods with you.
Disclaimer0:06
Definition & introduction to asset management1:48
Learn my definition of real estate asset management.
Read the key objectives of what you will learn from the course together with the tools you can employ.

The sources of capital0:54
Learn about the many different sources of capital that invest in real estate and what they typically look to invest in.
Structure of fund & asset management business4:49
Examine how the structure fund management business for real estate is organised together with the different teams and tasks that are undertaken. Learn the pivot role of the asset manager in delivering the returns.
Examples of commercial real estate 1/40:15
Commercial retail assets
Examples of commercial real estate 2/40:03
Logistics warehouses
Examples of commercial real estate 3/40:04
Offices
Examples of commercial real estate 4/40:06
Residential buildings or PRS
Categorization of fund styles4:41
Examine the methodology behind how different fund strategies are classified.
Recognize the difference in criteria between the different strategies. Identifying the differences is important for brokers.
Classification of asset returns0:35
Learn about risk and return of the different fund styles

Ranking of volatility per sector2:35
Learn what volatility for returns means.
Recognise the likely volatility of different asset classes as this helps to focus fund styles and what to invest in.
Performance of assets0:56
Learn the ranking of asset volatility and why certain funds prefer to invest in these asset classes.
Office sector performance 1/20:56
Identify the factors that drive performance in the office sector
Office sector performance 2/21:59
Identify the factors that drive performance in the office sector
Logistics sector performance3:13
Identify the factors that drive performance in the logistics sector
Retail sector performance1:49
Identify the factors that drive performance in the retail sector
Residential sector performance2:56
Identify the factors that drive performance in the residencial sector

Danger 1: Loss of purchasing power3:13
Money loses value over time.
Examine the different clauses and mechanisms that should be incorporated in leases to avoid losing purchasing power.
Danger 2: Obsolescence0:55
If a building is not maintained, it loses value.
Life cycle of a building2:57
Compare and contrast the demand for CAPEX over the life cycle of a building.
Identify which fund strategies acquire assets in these different cycles.
This is a key learning point in order to evaluate a building both at acquisition as well as disposal.
Construction costs of an office2:46
Examine the proportion of different elements of an office to understand which are more susceptible to obsolescence and replacement.
Construction costs of a warehouse0:35
Examine the proportion of different elements of a warehouse to understand which are more susceptible to obsolescence and replacement.
CAPEX requirements for different retail assets2:50
Examine the different retail assets to identify those where CAPEX requirements differ.
Construction costs of residential assets0:42
Review the elements of residential assets that are likely to suffer replacement and upgrades.
Danger 3: Incorrect market analysis2:40
Retail asset are among the most complicated to analyse. Learn how retail assets are zoned.
How to establish ERV for retail assets2:50
Identify the real use of different areas of a retail asset to correctly establish a market value.
Modern market standards: offices2:55
Appraise the market standards and locations of an office building to identify what the top occupiers demand and compare these to the asset you wish to acquire or manage.
Only in this way will you focus on the differences that your asset has to offer to the occupier in order to establish a fair market rent.
Modern market standards: logistics4:23
Appraise the market standards and locations of a warehouse to identify what the top occupiers demand and compare these to the asset you wish to acquire or manage.
Only in this way will you focus on the differences that your asset has to offer to the occupier in order to establish a fair market rent.
Modern market standards: residential2:23
Appraise the market standards and locations of residential buildings with high demand to identify the services and amenities that occupiers enjoy and compare these to the asset you wish to acquire or manage.
Only in this way will you focus on the differences that your asset has to offer to the occupier in order to establish a fair market rent.

Initial and Reversionary yield1:58
Learn to calculate the initial and reversionary yield to understand the risk of your asset.
IRR, Earnings Multiple and Capitalisation yield2:44
Learn the significance and importance of the equivalent yield & capitalisation yield.
Gross vs. Net yields1:31
Learn how to identify both the net yield and acquisition costs to calculate the cash on cash return.
Over rent and under rent2:01
Learn the significance of an over rented and an under rented asset to establish the risk of the asset.
ERV and comfort range1:33
The market rent of an asset (Estimated Rental Value - ERV) may be a fixed amount however learn the tolerance that a tenant has to pay above this level before seeking to renegotiate the rent.
Lease analysis4:34
Identify the principal clauses in a lease to be able to identify economic costs and to analyse risk. These elements will help you to build cash flow projections.
Covenant analysis and guarantees5:56
Examine the covenant analysis tools typically available together with key financial ratios to understand the solvency of a tenant. Learn the different types of guarantees that are normally found in leases and the best to select for both commercial and residential leases.
Security of a lease contract4:17
Examine the different elements that help identify risk of a lease contract.
Lease duration1:41
Learn the significance of lease duration in establishing the value of your asset.
WALT & WAULT1:58
Learn the key driver of value for a lease. Calculate the weighted average unexpired lease term and the weighted average lease term. Their significance depends on the fund strategy of the asset and is key for bank finance.
Expiry of income & risk analysis1:02
Appraise the graphs that help indicate income risk. This is key for bank finance.
OPEX & CAPEX 1/21:04
Examine the differences between operating expenditure and capital expenditure.
OPEX & CAPEX 2/21:55
Appraise the effect of CAPEX on the running return of the asset.

Asset manager vs. Property Manager2:29
Understand the difference in roles between an asset and property manager.
Asset management tasks2:38
How to manage a property manager3:04
Appraise the tasks of a property manager and their importance.
Tasks to include in a property management contract 1/22:46
A review of the principal tasks to include in a property management contract.
Tasks to include in a property management contract 2/23:23
A review of the principal services that property managers should offer and fee structures.

Tasks of an Asset manager1:30
Review the strategic questions that an asset manager needs to ask in order to start to report.
Tasks of an Asset manager 1/22:19
Review the typical tasks and strategic objectives that asset managers focus on.
Task of an Asset manager 2/22:04
Review the typical tasks and strategic objectives that asset managers focus on.
Asset management reporting calendar1:25
Learn how to create and to prepare an asset management calendar.
Net operating income (NOI) template 1/23:00
Examine the concepts when preparing a net operating income calculation.
Net operating income (NOI) template 2/20:47
Examine the additional concepts when for preparing fund distribution.
Monthly & Quarterly reporting2:17
Identify the main aspects to be monitored and reported on a monthly and quarterly basis.
Annual business plans2:02
Identify the main aspects to be incorporated in an annual business plan.
Return calculations: Cash on cash2:04
Review how to calculate the cash on cash returns both unleveraged and leveraged for an investment.
The calculation is key to monitor to ensure all decisions taken do not compromise any distributions promised.
Return calculations: Return on cost4:10
Review how to calculate the return on cost of the refurbishment of a warehouse.
The calculation is key to understand if any investment or improvement in an asset will add or destroy value.
Return calculations: Residual development2:32
Review how to calculate the residual value of a development.
The calculation is key to understand what a developer can pay for a plot of land.
Return calculations: IRR & Equity multiple5:28
Review how to calculate the internal rate of return and equity multiple both leveraged and unleveraged for an investment.
The calculation is key to understand what a developer can pay for a plot of land.

Hold Sell analysis of an asset4:12
Infrastructure changes in Madrid, Spain0:55
Madrid river district / Madrid Río
Old city slaughterhouse: before & after0:10
Segovia bridge: before & after0:17
Dam 6: before & after0:10
Changes in sales prices0:31
Appraise the change in residential prices that took place following the infrastructure improvements when compared with neighbouring districts.
360 degree SWOT analysis 1/20:55
Learn which elements to examine that are relevant to the asset and those that external to the asset.
360 degree SWOT analysis 2/20:23
Discover the different aspects or focus from which you need to carry out the analysis. Key is to have a multi-disciplinary team.
Strengths3:10
Using the different focus points appraise the strengths of the asset
Weaknesses0:22
Using the different focus points appraise the weaknesses of the asset
Opportunities2:01
Using the different focus points appraise the opportunities that affect the asset.
Threats2:14
Using the different focus points appraise the threats that affect the asset.
How to score the strengths of the asset0:50
How to score the strenths of the market1:23
How to position the asset0:55
Visualise how to position an asset on a graph. Not only will you see how to measure the strength of the asset but also the strength of the market. Over time you can distinguish how an asset performs and so better select if this is an asset to hold or to sell.
Capitalisation rate calculation5:52
Examine the different drivers that affect the capitalisation rate of an asset over time.
Use this compelling analysis to focus on what you need to negotiate with a tenant or how to improve a building to learn the optimum moment to dispose of an asset.

Strategic overview to add value to an asset or portfolio 1/24:50
Discuss the 12 indicators or strategies that are top asset managers follow to add value.
Strategic overview to add value to an asset or portfolio 2/21:14
Discuss the 12 indicators or strategies that are top asset managers follow to add value.
Real estate cycles1:16
Timing of acquisition is key to driving returns.
Analysis: Rent free1:50
Discover how to add value to an asset granting rent free periods.
Analysis: Stepped rent0:50
Discover how to add value to an asset granting a stepped rent.
Analysis: Tenant incentives0:56
Tenant's incentives take the form of a capital contribution paid often by the landlord.
Turnover rent & Effort ratio3:19
Discover how a turnover rent can help generate additional income and also assist the tenant.
The effort ratio serves as a guide to measure how well a tenant trades and is a useful comparison tool.
Acquisition of under-rented & over-rented assets2:02
Examine the strategies to employ when acquiring either under-rented or over-rented assets.
Learn why you should concentrate on cash on cash returns and focus on the weighted average unexpired lease term.

Requirements

The student should have knowledge of real estate and lease structures.
Knowledge of excel.
The student will not learn how to construct a cash flow or IRR but will learn how to interpret the numbers.

Description

The student is informed that this course contains the use of artificial intelligence for voice dubbing exclusively.

Asset management should not be considered to be a passive activity. Both assets and locations change over time, and so do rents. Therefore, it is necessary to analyse what the market is doing and to understand the position of your asset in that market in order to make an informed decision. To make acquisitions, you have to make positive assumptions and logically no one ever sets out to buy an asset to lose money. It is the responsibility of the asset manager to deliver that promise and to navigate the market and changes in the economy, so that returns can be managed to meet the promise as best as possible. If you know how different assets are likely to perform, you should be able to develop a coherent strategy to maximize returns. After this course, you will be able to answer the following questions. What is the difference in strategy between a core plus and a value-add fund? How does an asset manager add value and protect the downside risk? What do investors look for and what are the principal threats faced by property owners? How can you best negotiate against a tenant? And how can one prepare a 360-degree SWOT analysis and business plan? This course will help you to interpret the numbers, but we'll not specifically enter into valuation or cash flows, as it is understood that the student will be able to consult other sources that are more appropriate.

Who this course is for:

Professionals linked to real estate: agents, property managers, accountants and lawyers who are interested in better understanding the work of an asset manager.
Real estate owners seeking to develop and improve their strategy and returns.
Junior asset manager that seek to learn robust Asset management techniques.

A practical guide to real estate asset management.

What you'll learn

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Course content

Introduction7 lectures • 8min

Structure of Fund Management business8 lectures • 11min

Why invest in the different commercial sectors?7 lectures • 14min

Dangers that Asset Managers should prevent12 lectures • 29min

Key Metrics for an Asset Manager13 lectures • 32min

Acquisition & Due diligence process2 lectures • 7min

Management of an asset or portfolio5 lectures • 14min

Reporting12 lectures • 30min

Hold Sell analysis16 lectures • 24min

How to add value to a portfolio8 lectures • 16min

Requirements

Description

Who this course is for: