SAN DIEGO—Recently, GlobeSt.com highlighted the value for real estate professionals of the University of San Diego's Real Estate Finance, Investments and Development Certificate–offered through the school's professional and continuing-education department—which partners with the Burnham-Moores Center at USD's School of Business. Later, we spoke with Scott Peterson, SVP at CBRE, who teach the “Real Estate Finance and Capital Markets” course, and Nathan Moeder, a principal with London Moeder Advisors and instructor of the “Real Estate Investment and Income Analysis” course—both part of USD's real estate certificate program. Here's what you can learn from their courses that you might not learn elsewhere.

GlobeSt.com: What made you decide to teach the class as part of the certificate program?
Peterson: As a real estate industry professional, I quickly recognized that the University of San Diego produces some of the best and brightest young commercial real estate talent coming into the field for more than the past decade. The undergraduate and graduate real estate programs prepare students to enter into the field with both the technical land practical skillsets as well as the social confidence to be successful. The certificate program, now with more than a decade track record, expands this high-quality, successful platform of the Burnham-Moores Center to the continuing-education program. The certificate program allows active professionals, in and outside of real estate, to supplement their understanding of specific commercial real estate subjects such as finance, development feasibility, legal aspects of real estate and much more.

Teaching the “Real Estate Finance and Capital Markets” course as part of the real estate certificate program has allowed me to contribute back in a significant way to the continued success of USD and of the BMC. Mentorship is a strong pillar of my personal foundation, so teaching this course has offered me a platform to mentor students, of all ages, interested in learning more about specific areas of real estate. The courses within the certificate program are taught by successful leaders in the real estate industry because of the strong connection the Burnham-Moores Center has with business leaders in this field. Participating as an instructor has also given me the opportunity to enhance my relationships in the real estate community through the various connections I have made as an instructor of this course.

Moeder: I received my undergraduate degree and Masters of Science in Real Estate from the University of San Diego, so it was exciting to come back to the University and share my knowledge with students. In fact, I helped formulate the USD Real Estate Certificate program and the curriculum offered. I wanted to make sure that it was a well-rounded program that studies all the aspects and discipline that comprises the real estate industry.

GlobeSt.com: Why should students take your class?
Peterson: I teach “Commercial Real Estate Finance and Capital Markets,” a course built on the foundation of teaching students the theory of capital flows and sources of capital for real estate. The course establishes an understanding of why and how certain capital sources lend or invest in real estate. Understanding the sources of capital that flow into real estate, as both equity and debt, is the basis for real estate valuation. The course answers the questions: Why do life companies tend to make long-term, fixed rate mortgages? Why do banks typically lend short term with personal guarantees? Why do pension funds buy only high-quality, stable real estate assets? Why do wealthy individuals mostly focus on cash-on-cash returns?

Investors buy or lend on commercial real estate based on the stability and predictability of a property's cash flow. This specific course teaches why factors that change those cash flows can have a material effect on the capital sources that are attracted to a property type and therefore the valuation of those properties.

Moeder: Students should take my finance class to understand investment returns, financial analysis and strategic decision-making. You don't have to be good at math to take my introduction course. It is an excellent primer on how to analyze an asset and the basic components proforma analysis.

GlobeSt.com: What makes your class unique—what will they learn in your class that they might not learn elsewhere?
Peterson: The course objective is to provide insight into the fundamentals of commercial real estate finance with a particular emphasis on commercial mortgage banking and the role of the mortgage banker in bringing together the developer/owner and capital structures/sources. As a 15-plus year veteran in the industry, financing more than $1 billion annually with my team, I provide my students the benefit of an industry professional teaching actual, real-time case studies in the business. My students also obtain me as a continued mentor outside of the classroom.

Moeder: The advantage of my class is the insight I offer the students. In my line of work, I analyze hundreds of real estate opportunities every year. I have found over the years that the class helps the students not only understand finance, but also the financial perspective as it relates to their own projects or investments on which they are working.

GlobeSt.com: What types of students take your course, and how does it benefit students in commercial real estate or those thinking about a career in real estate?

Peterson: This course attracts a wide range of students, ranging in ages from 21 to 50 years old and includes both men and women. Those students who wish to obtain the real estate certificate do so to enhance their resume and their knowledge in specific areas of commercial real estate. Some students have had little to no prior classes in the field.

Students typically enroll in my class to get a broad understanding of the process of financing commercial real estate. The demographics of my class often includes younger professionals just entering the real estate industry or they may be more seasoned professionals in related disciplines. For example, this past year my class included established lawyers who recently expanded their practice to include the real estate specialty, property managers, market research associates, construction managers, agricultural land managers and entry-level accountants in the real estate field.

Since my course establishes the basis for understanding cash flows and capital flows/capital sources, it provides students of all levels the foundation for understanding the field of finance.

Moeder: Anyone who is interested in how financial analysis works, or needs a refresher on the concept of investing, should take the course.

GlobeSt.com: Anything else you'd like to add about the program, the BMC or USD's Professional and Continuing Education?

Peterson: The opportunity to teach in the “Real Estate Finance, Investments and Development Certificate” program is a true honor—to be a part of a successful institution that produces top talent in the field. This opportunity has given me the chance to educate and mentor skillfully alongside the top professionals in the commercial real estate industry in San Diego. I am proud to be affiliated with such a best-in-class educational institution. My class is the by-product of a perfect marriage between the Burnham-Moores Center for Real Estate and the division of Professional and Continuing Education at USD.

Moeder: The best part about the program is that the students are working professionals. They already have some knowledge and expertise in their respective jobs or past experiences. As such, the students also learn from each other. This makes it a dynamic class compared to just an instructor teaching the students.

GlobeSt.com: What types of students take your course, and how does it benefit students in commercial real estate or those thinking about a career in real estate?

Since my course establishes the basis for understanding cash flows and capital flows/capital sources, it provides students of all levels the foundation for understanding the field of finance.

Moeder: Anyone who is interested in how financial analysis works, or needs a refresher on the concept of investing, should take the course.

GlobeSt.com: Anything else you'd like to add about the program, the BMC or USD's Professional and Continuing Education?

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