Advanced Strategic REIT Management Training: Navigating Public and Private Real Estate Investment Trusts

Module 1: Foundations of the REIT Structure and Legal Framework

ü  History and evolution of the REIT industry

ü  Essential requirements for REIT qualification

ü  Types of REITs: Equity, Mortgage, and Hybrid

ü  Organizational structure: UPREITs and DownREITs

ü  Practical Session: Mapping a standard REIT organizational chart and identifying stakeholder roles

Module 2: Public vs. Private REITs: Liquidity and Governance

ü  Characteristics of Publicly Traded REITs

ü  The world of Private and Non-Traded Public REITs

ü  Investor eligibility and minimum investment thresholds

ü  Transparency requirements and SEC/SCA regulations

ü  Practical Session: Comparative analysis of a public vs. private REIT prospectus

Module 3: REIT Accounting and Financial Performance Metrics

ü  Understanding the limitations of Net Income in real estate

ü  Calculating Funds From Operations (FFO)

ü  Adjusted Funds From Operations (AFFO) and Maintenance CapEx

ü  Balance sheet analysis: Debt-to-EBITDA ratios

ü  Practical Session: Building a spreadsheet to calculate FFO and AFFO from a sample income statement

Module 4: Asset Management and Portfolio Diversification Strategies

ü  Lease structures and their impact on cash flow predictability

ü  Sector-specific analysis: Retail, Office, Industrial, and Residential

ü  Occupancy management and tenant credit risk assessment

ü  Property-level CapEx vs. Portfolio-level growth

ü  Practical Session: Simulation on optimizing a portfolio mix to mitigate sector-specific downturns

Module 5: Capital Markets: Debt, Equity, and REIT Financing

ü  Equity issuance: IPOs and Follow-on offerings

ü  Utilizing Unsecured Debt and Mortgage Financing

ü  Credit ratings and their impact on the cost of capital

ü  The role of ATM (At-The-Market) programs

ü  Practical Session: Calculating the Weighted Average Cost of Capital (WACC) for a mid-cap REIT

Module 6: Taxation and Dividend Distribution Compliance

ü  The 90% distribution rule and its implications

ü  Tax treatment of dividends for shareholders

ü  Prohibited transactions and "Safe Harbor" rules

ü  Foreign Account Tax Compliance Act (FATCA) and international investors

ü  Practical Session: Dividend payout ratio calculation and tax impact modeling

Module 7: Valuation Methodologies for Real Estate Investment Trusts

ü  Net Asset Value (NAV) calculation techniques

ü  Discounted Cash Flow (DCF) modeling for REITs

ü  Price-to-FFO multiples and peer group benchmarking

ü  Cap Rate analysis across different geographic markets

ü  Practical Session: Practical Session: Valuing a REIT using the NAV approach vs. the Multiples approach

Module 8: Risk Management and Regulatory Compliance

ü  Interest rate sensitivity and hedging strategies

ü  Corporate governance: Board composition and investor activism

ü  Environmental, Social, and Governance (ESG) reporting in REITs

ü  Internal controls and Sarbanes-Oxley (SOX) compliance

ü  Practical Session: Developing a risk register for a diversified Equity REIT

Module 9: International REIT Markets and Emerging Trends

ü  The growth of REITs in Europe, Asia, and Africa

ü  Cross-border investment challenges and currency risks

ü  Technology and PropTech integration in REIT management

ü  Impact of e-commerce on Logistics and Data Center REITs

ü  Practical Session: Regional market analysis and entry strategy for a global REIT portfolio

Module 10: Strategic Exit Strategies and REIT Mergers

ü  Mergers and Acquisitions (M&A) in the REIT sector

ü  Privatization: Taking a public REIT private

ü  Liquidation and asset divestment strategies

ü  Course summary and final assessment

ü  Practical Session: Final group presentation on a simulated REIT acquisition proposal

About Our Trainers

Our trainers are industry veterans with over 20 years of collective experience in real estate investment banking, fund management, and international tax law. They have held senior positions in leading REITs and global financial institutions, providing them with a unique blend of theoretical knowledge and practical "deal-making" experience. Our facilitators are active members of international real estate associations and are recognized thought leaders in property finance.

Quality Statement

Phoenix Center for Policy, Research and Training is committed to delivering world-class educational programs. We ensure our content is rigorously updated to reflect current market conditions and regulatory changes. Our "Learn-By-Doing" philosophy guarantees that participants leave with actionable skills that can be immediately applied to their professional roles.

Tailor-Made Courses

We understand that every organization has unique challenges and opportunities as well as unique training needs. Phoenix Training Center offers tailor-made courses designed to address specific requirements and challenges faced by your team or organization. Whether you need a customized curriculum, a specific duration, or on-site delivery, we can adapt our expertise to provide a training solution that perfectly aligns with your objectives. We can customize this Course to focus on your industry, specific risk profile, or internal stakeholder dynamics. Contact us to discuss how we can create a bespoke training program that maximizes value and impact for your team. For further inquiries, please contact us on Tel: +254720272325 / +254737296202 or Email training@phoenixtrainingcenter.com

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

ü  Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

ü  What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

ü  Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

ü  The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

ü  Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training. Or call us on +254720272325 / +254737296202

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

ü  Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.

ü  Invoice: We can send a bill directly to you or your company.

ü  Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

ü  Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

ü  Participants may cancel attendance 14 days or more prior to the training commencement date.

ü  No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Accommodation and Airport Transfer

For physical training attendees, we can assist with recommendations for accommodation near the training venue. Airport pick-up services can also be arranged upon request to ensure a smooth arrival. Please inform us of your travel details in advance if you require these services. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737296202