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The Real Estate Development Process: Part I
Date: June 6 - 9, 2012
Venue: Waterview Conference Center
Location: 1919 North Lynn Street, Arlington, Virginia
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Real estate development is a complex and continually evolving business that requires the successful management and interaction of multiple disciplines. To develop, finance, or supervise a project effectively requires a basic understanding of the process and its many facets. This newly updated course introduces, to public and private sector participants, the principles and concepts of real estate development. Emphasizing the iterative and interactive nature of the real estate development process, the course chronologically follows the various stages of the process and discusses how each team member’s actions and performance affects the success and profitability of the project.

The course combines a lecture and case study approach. Top industry professionals, drawn from ULI’s membership, serve as course leaders and guest speakers, sharing their insights, experience, and expertise with participants.

The course is structured in three parts: 1) preliminary considerations, market analysis, product identification and pricing, financial analysis, and market strategy; 2) land development, site selection, acquisition, negotiating and deal structure, documentation, due diligence, acquisition financing, and entitlements and permitting; and 3) site and vertical development planning and design, development financing, infrastructure and vertical construction, risk management, sales and leasing, asset management, compliance and governance, and turnover and disposition.

The course will involve some homework and teamwork in building a pro forma for a development project.

Participants are expected to bring a laptop computer with Microsoft Excel in order to fully engage in the pro forma modeling and financial analysis portion of the course.

Instructor
Alan RazakAlan Razak
Principal
Razak Company, LLC
Philadelphia, Pennsylvania

Alan Razak has more than 30 years of commercial real estate experience, encompassing development and project management, finance, architectural/design and consulting. Razak’s diverse real estate experience includes managing the development process both as owner and on a consulting basis as owner’s representative, on project types including residential, office, commercial and technical facilities.

Prior to forming Razak Company in 2003, he was a principal with a Philadelphia real estate consulting and investment advisory firm, providing services ranging from strategic real estate planning to implementation of complex transactions. Razak managed the firm’s Philadelphia real estate consulting group, and designed the group’s strategic real estate planning process. The strategic planning process often led to implementation assignments, including Razak’s continued role as Owner’s Representative managing an intensely complex $100 million redevelopment of a major mutual fund's critical data operations facility while it remained in operation.

During the early 1990’s Razak worked exclusively in consulting, with assignments focused on consulting development management (including the first modern office building in Warsaw), real estate finance and construction-related litigation support, due diligence analysis, corporate relocations, sale-leaseback transactions, and workout assistance. For much of the 1980’s, he was a partner at Rouse and Associates (now Liberty Property Trust), managing such high profile projects as a 400,000 square foot Washington, D.C. office building project and Rouse’s 20-acre Penns Landing urban multiuse project on Philadelphia’s waterfront. Included in his responsibilities for these projects was the negotiation of development, financing, land lease and disposition agreements with both public and private sector landowners. While pursuing his business degree, Razak also worked on numerous multifamily residential developments for rehab specialist Historic Landmarks for Living.

Razak began his career as an architect, working on the design of multifamily residential, commercial and health care projects in the Midwest and Pacific Northwest, and he maintains his status as a registered architect in Pennsylvania. Razak holds a Bachelor of Science in Arts and Design from the Massachusetts Institute of Technology, a Master of Architecture from the University of Washington, and an MBA with a concentration in real estate from the Wharton School of the University of Pennsylvania. He has served on the Executive Committee of the Central Philadelphia Development Corporation’s Board of Directors, and has taught numerous classes in real estate finance, performing real estate market studies, construction and real estate development.

FalbeyWayne Falbey
President, The Falbey Group, LLC
Managing Member, Capital Four Advisors, LLC
Naples, Florida

John Wayne Falbey is a real estate developer and adviser, as well as an attorney, educator, speaker, and author. He is chief executive officer of the Falbey Group, LLC, and a founding member and principal of Capital Four Advisors, LLC. In these positions, he provides and implements comprehensive solutions to complex and novel financial and operational problems, including restructurings, repositionings, recapitalizations, asset dispositions, acquisitions, and development completions. He provides highly sophisticated and effective services to a broad spectrum of industry participants, nationally and internationally, including financial institutions, investors, developers, and public sector entities. He has been involved in real estate development and education for more than 30 years.

As a real estate developer, Falbey has been involved directly in the acquisition, development, and disposition of properties valued at hundreds of millions of dollars. His broad range of experience includes acquisition and land assembly, financial structuring, negotiation and development strategies, due diligence proceedings, entitlements and land use regulation, strategic marketing, and planning and design issues.

As an educator, Falbey created, chaired, and taught a number of courses in the master of science in real estate development program at the H. Wayne Huizenga School of Business and Entrepreneurship at Nova Southeastern University. He consults with colleges and universities on improvement of their real estate development programs or the start of new programs in the discipline. Falbey optimizes the interface between the program and industry, advises on curriculum content, and counsels on the development of peripheral activities that will strengthen and expand the programs.

Falbey holds master’s and doctoral degrees in business administration and also earned a law degree at Vanderbilt University. He maintains membership in good standing in the Bar associations of Florida and Colorado. He also completed all the courses in the certified commercial investment member (CCIM) program.

Additional faculty to be announced



Accommodations and Course Location
Hotel accommodations are not included in the registration fee. If you would like to make hotel arrangements, please contact the hotel directly.

Meeting Only
Waterview Conference Center
1919 North Lynn Street
Arlington, Virginia

Accommodations Only
Le Meridien Hotel
1121 North 19th Street
Arlington, Virginia
800-543-4300

A limited number of sleeping rooms have been blocked by ULI at the Hotel Palomar for this event. Mention the Urban Land Institute to get the rate of $259. The room block deadline is May 17, 2012.



Register Now

 
or call 800-321-5011 with credit card information.

Download Registration Form

Program Highlights
Initial preparations

Market analysis and real estate economics

Identifying product types and price points

Financial analysis of real estate

Selecting the optimal site

Negotiating and structuring the deal

Acquiring the land

Managing the due diligence process

Financing the acquisition of land

Strategic Market Planning

Managing the entitlement process

Planning and designing the project

Financing the development of the project

Construction management

Post-development compliance
Registration Fee
Early Bird Discount. Register by May 7 and save $200 off of your first course*

ULI Member:
$1,550*
Non-member: $1,850*
Government and nonprofit: $1,250

*Second course $1,250 at all times for members and, $1,550 for non-members

Registration fee includes tuition, course materials, continental breakfast, luncheon, and refreshments.

Cancellations must be made in writing or by e-mail to ULI’s customer service department and are subject to a $100 administrative fee. Cancellations must be received at least seven days before the start of the program to be eligible for a refund. No refunds will be granted thereafter. You may transfer your registration to another member of your organization with no penalty.

Course Schedule
Registration:
7:45 a.m. – 8:30 a.m. on June 6
Program:
8:30 a.m. – 5:00 p.m. each day

Lunch:
12:30 p.m. – 1:30 p.m. each day
Contact Professional Development

David Mulvihill
Vice President, Professional Development
Phone: 202-624-7122
E-mail: dmulvihill@uli.org

Questions or Special Needs
Contact ULI customer service at 800-321-5011 or 410-626-7505 or via email at customerservice@uli.org