COURSE NUMBER: EWMBA287.2

This course is cross-listed with the Full-Time MBA program, the School of Law, and the department of City and Regional Planning

COURSE TITLE: Land Development and Investment: The Art of the Deal

UNITS OF CREDIT: 3 Units

INSTRUCTOR: Bill Falik

E-MAIL ADDRESS: billfalik@gmail.com

CLASS WEB PAGE LOCATION: http://bspace.berkeley.edu

MEETING DAY(S)/TIME: Thursdays 6:25pm-9:35pm

PREREQUISITE(S): None

CLASS FORMAT: Some lectures, frequent guest speakers and significant class participation.

REQUIRED READINGS: Online course reader.

BASIS FOR FINAL GRADE: Class participation, final paper.

ABSTRACT OF COURSE'S CONTENT AND OBJECTIVES:

Understanding that the real estate market is currently in the earliest stages of an anticipated recovery, this is probably the best time in several decades to learn about, and ultimately invest in, real estate. This course is designed as an interdisciplinary approach for business and law students to learn about every aspect of deal making in the land development process. The course will also be available to a limited number of public policy and city and regional planning students. Although the course will focus on real estate and land investment, the thrust will be on deal making, whether it be on acquisition, financing, environmental review, entitlement, obtaining community support, or ultimate disposition of a successful project. Law students will learn to evaluate business risks and to make deals, and business students will gain a conceptual framework for understanding legal issues which are critical to the real estate development and deal making process. The course will also introduce the use of green technology and the inclusion of affordable housing in the development process. Mr. Falik encourages significant interaction among the business, law, and planning students in responding to real life development issues. Topics which will be covered include:

· acquisition strategy and documentation;

· capital formation and deal structure;

· dealing with distressed property opportunities and responding to the mortgage crisis;

· developing a creative and sustainable land plan;

· California and federal environmental and Endangered Species laws;

· financing critical infrastructure;

· responding to litigation, initiatives, and referenda and gaining community support;

· designing an exit strategy; and

· critical tax issues involving dealer vs. investor status.

There will be frequent guest lecturers who are some of the leading experts in the deal-making, planning, environmental, and investment fields.

BIOGRAPHICAL SKETCH:

Bill Falik has practiced land use, real estate, and environmental law and mediation in Northern California for the past 40 years and during this period he has pursued a dual career as attorney and real estate developer.  He graduated magna cum laude from Cornell University in 1968 and from Harvard Law School in 1971, where he was an editor of the Harvard Law Review. During his legal career, Mr. Falik has been a partner in three San Francisco law firms in which he chaired the environmental and land use law departments.  Currently, in addition to serving for the past six years as an Adjunct Professor at Berkeley Law School and a member of the Professional Faculty at Haas School of Business, he is the Managing Partner of Westpark Community Builders which developed 1,500 acres in Roseville, California and planned and entitled 4,300 residential units which were sold to the three largest builders in the United States.  In addition, as CEO of Live Oak Enterprises, he has developed the Whitney Oaks master planned community in Rocklin, California with a championship Johnny Miller designed golf course and 2,000 homes.   

Supplementing his continuing real estate development work, Mr. Falik is a principal in Mortgage Resolution Partners, an entity which has captured national attention in its efforts to stop the foreclosure crisis. This is the sixth year in which Mr. Falik has taught this course, in addition to coaching the UT Austin Real Estate Team competition, together with Professor Nancy Wallace.