Chapter 4: Real Estate and Infrastructure

In this section

• Real Estate Investment Structures
  Real Estate Investment Structures (CFA Level 1): Understanding Real Estate Investment Structures, Direct Ownership, and Joint Ventures and Partnerships. Key definitions, formulas, and exam tips.
• Valuation Methods for Real Estate Assets
  Valuation Methods for Real Estate Assets (CFA Level 1): Understanding Real Estate Valuation, Why Valuation Matters, and Core Valuation Approaches. Key definitions, formulas, and exam tips.
• Infrastructure Investments and Their Role in Portfolios
  Infrastructure Investments and Their Role in Portfolios (CFA Level 1): Definition and Key Characteristics of Infrastructure, Strategic Benefits in a Portfolio Context, and Types of Infrastructure Investments. Key definitions, formulas, and exam tips.
• Risk Assessment and Return Characteristics
  Risk Assessment and Return Characteristics (CFA Level 1): Market Risk, Visualizing Market Risk Factors, and Regulatory and Political Risk. Key definitions, formulas, and exam tips.
• Mortgage-Backed Securities and Securitization
  Mortgage-Backed Securities and Securitization (CFA Level 1): Securitization Journey, Agency vs. Non-Agency MBS, and Understanding Tranching. Key definitions, formulas, and exam tips.
• Public vs. Private Real Estate Markets
  Public vs. Private Real Estate Markets (CFA Level 1): Public Real Estate: High Liquidity and Transparency, Nature of Public Real Estate, and Advantages of Public Real Estate. Key definitions, formulas, and exam tips.
• Lifecycle of Infrastructure Projects
  Lifecycle of Infrastructure Projects (CFA Level 1): Development Phase, Common Pitfalls, and Ramp-Up Phase. Exam-focused explanations with key terms and takeaways.
• ESG Considerations in Real Assets
  ESG Considerations in Real Assets (CFA Level 1): Foundations of ESG in Real Assets, Environmental Perspective, and Social Perspective. Key definitions, formulas, and exam tips.
• Specialized Property Sectors (Data Centers, Cell Towers)
  Specialized Property Sectors (Data Centers, Cell Towers) (CFA Level 1): Investment Rationale, Data Centers, and Operating Mechanics. Key definitions, formulas, and exam tips.
• Social Infrastructure and Concession Agreements
  Social Infrastructure and Concession Agreements (CFA Level 1): Core Concepts and Importance, Concession Agreements in Detail, and Key Features. Key definitions, formulas, and exam tips.
• Tenant Risk, Lease Structures, and Rental Yields
  Tenant Risk, Lease Structures, and Rental Yields (CFA Level 1): Tenant Risk, Rental Yields and Key Considerations, and Lease Duration and Renewal Options. Key definitions, formulas, and exam tips.
• Real Estate Operating Companies vs. REITs
  Real Estate Operating Companies vs. REITs (CFA Level 1): Real Estate Operating Companies (REOCs), Characteristics of REOCs, and Real Estate Investment Trusts (REITs). Key definitions, formulas, and exam tips.
• Infrastructure Debt and Risk Management
  Infrastructure Debt and Risk Management (CFA Level 1): Typical Structures, Credit Analysis for Infrastructure Projects, and Risk Mitigation Techniques. Key definitions, formulas, and exam tips.
• Redevelopment, Brownfield vs. Greenfield Projects
  Redevelopment, Brownfield vs. Greenfield Projects (CFA Level 1): Brownfield vs. Greenfield: A Quick Primer, Brownfield Projects, and Greenfield Projects. Key definitions, formulas, and exam tips.
• Impact of Technological Advancements in Real Estate
  Impact of Technological Advancements in Real Estate (CFA Level 1): Rise of PropTech, Online Brokerage Platforms, and Smart Building Systems and Automated Management. Key definitions, formulas, and exam tips.
• Philanthropic and Endowment-Based Real Estate Strategies
  Philanthropic and Endowment-Based Real Estate Strategies (CFA Level 1): Charitable Real Estate Donations, Donation Mechanics and Tax Benefits, and Endowment Real Estate Investments. Key definitions, formulas, and exam tips.