William J. Poorvu

MBA Class of 1961 Adjunct Professor in Entrepreneurship, Emeritus

William Poorvu is the Class of 1961 Adjunct Professor in Entrepreneurship, Emeritus at Harvard Business School. He taught and was responsible for the real estate courses there for 35 years. He was the school's first adjunct professor, its first adjunct professor with a named chair and the first non-tenured professor at Harvard University to be given Emeritus status. He also was on the faculty of the Graduate School of Design for many years. He is the author of several books on real estate, the two most recent being Creating and Growing Real Estate Wealth: The 4 Stages to a Lifetime of Success, 2008 and The Real Estate Game - The Intelligent Guide to Decision-Making and Investment, 1999.

As a practitioner he has been the managing partner in a number of private real estate companies. From 1963-1982 he was the co-founder, Vice Chair and Treasurer of Boston Broadcasters, Inc., and in 1982 a co-founder and Chair of The Baupost Group L.L.C., an investment firm where he currently is Co-Chair of its Board of Advisors. For 22 years he was also an independent Trustee of the MFS Group of Mutual Funds. He has also served on the board of a number of public Real Estate Investment Trusts over the years.

Among his community activities, he is a Life Trustee and former Vice Chair and Treasurer of the Boston Symphony Orchestra, a Trustee and Treasurer of the Gardner Museum and Vice Chair of the National Public Radio Foundation. He has chaired or co-chaired all three of their investment committees. He is a member of the Carnegie Corporation Investment Committee and a former member of the Yale University Investment Committee and of the Yale University Council. He has served on various government commissions including the State Department's Overseas Presence Advisory Panel.

He received his B.A. from Yale University in 1956 and his M.B.A. in 1958 from Harvard Business School.

Cases and Teaching Materials

  1. Steel Street

    The case involves repositioning an old 6-story warehouse in Pittsburgh and many of the issues of rehabilitation and selecting and managing the development team especially in a world of capital market uncertainty. The case also demonstrates the alignment of interests of the players, the construction process, and the various methods available to contract with the general contractor including lump sum, cost-plus, and guaranteed maximum price.

    Keywords: Construction; Capital Markets; Financial Management; Investment; Property; Urban Development; Real Estate Industry; Pittsburgh;


    Segel, Arthur I., William J. Poorvu, Ben Creo, and Justin Seth Ginsburgh. "Steel Street." Harvard Business School Case 210-010, August 2009. (Revised January 2012.) View Details
  2. The Millegan Creek Apartments

    Fleet Bank is considering a construction loan for a 390-unit apartment project in Austin, Texas. The case describes the location, market, product, and other real estate factors the bank needs to consider in making this loan. Also discusses the financial and construction risks involved in structuring this kind of credit facility.

    Keywords: Property; Financing and Loans; Banks and Banking; Housing; Risk and Uncertainty; Construction; Credit; Real Estate Industry; Banking Industry; Texas;


    Poorvu, William J., and John H. Vogel Jr. "The Millegan Creek Apartments." Harvard Business School Case 395-118, December 1994. (Revised September 2011.) View Details
  3. Busse Place

    Busse Corporate Center's largest tenant recently declared bankruptcy, leaving the building 38% occupied and significantly overleveraged. In a depressed suburban Chicago office market, Marisa Sanchez, the leasing agent, has to negotiate lease proposals with three prospective tenants to try to fill the vacant space. Meanwhile, the building's owner, Collins Properties, must decide with its equity partner whether to continue funding the building's losses while trying to lease the vacant space, restructure the debt, or default on the loan and turn the building over to its lenders. The decision is made more complicated by Collins' use of a Commercial Mortgage Backed Security (CMBS) Loan, which involves multiple parties, ambiguous relationships, and bifurcated responsibilities.

    Keywords: Buildings and Facilities; Restructuring; Borrowing and Debt; Financial Management; Mortgages; Investment; Leasing; Property; Real Estate Industry; Chicago;


    Segel, Arthur I., William J. Poorvu, Richard Kessler, and Justin Seth Ginsburgh. "Busse Place." Harvard Business School Case 209-154, June 2009. (Revised October 2010.) View Details
  4. Revere Street

    Although inexperienced in real estate, Edward Alexander hopes in June 1999 that youthful enthusiasm and an $80,000 inheritance will help him enter the real estate business. His experience chronicles the process of finding, evaluating, and acquiring a four-unit brownstone in need of renovation in the Beacon Hill area of Boston. The case also identifies the various players in the process. A rewritten version of an earlier case.

    Keywords: Acquisition; Investment; Housing; Real Estate Industry; Boston;


    Segel, Arthur I., John H. Vogel, Jr., Lisa Strope, and Erich Dylus. "Revere Street." Harvard Business School Case 800-147, November 1999. (Revised April 2008.) View Details
  5. Regency Plaza

    Designed to examine the process of project management during the development cycle of a luxury condominium building, exploring the issue of how the design, development strategy, project organization, and project personnel are interrelated. More specifically, looks at how these factors shape the day-to-day operations of a development and how they affect the formal and informal mechanisms that a project manager has at his or her disposal. Students are asked to design floor plans for a portion of one floor to point up the importance of the difficulties in creating workable and saleable units.

    Keywords: Buildings and Facilities; Design; Construction; Housing; Management Practices and Processes; Projects; Luxury; Real Estate Industry;


    Poorvu, William J., and Richard E Crum. "Regency Plaza." Harvard Business School Case 391-021, November 1990. (Revised January 2008.) View Details
  6. Winthrop Park Development

    Describes a real estate development project in Cambridge, MA and evaluates the market, financial, and design issues in this $20 million mixed-use property.

    Keywords: Property; Real Estate Industry; Cambridge;


    Poorvu, William J., and Elizabeth McLoughlin. "Winthrop Park Development." Harvard Business School Case 898-194, February 1998. (Revised May 2007.) View Details
  7. Schneider Building, The

    In May 1995, Jonathan Schneider, the president of the Schneider Co., is faced with several related problems. First, he needs to find a new facility that can accommodate his expanding business. Second, he needs to decide whether to lease or purchase this new facility. And third, he needs to decide what to do about the existing facility, which he leases from his father.

    Keywords: Family Business; Property; Leasing; Expansion; Real Estate Industry;


    Poorvu, William J., and John H. Vogel Jr. "Schneider Building, The." Harvard Business School Case 396-043, August 1995. (Revised January 2007.) View Details
  8. Doral Costa

    Doral Costa is a proposed 277,803 square foot Class A office park development in Miami, FL. Trammell Crow Co. would like to develop this office park in joint venture with a partner. Samantha Spar, the acquisitions partner at Titan Associates, a large real estate institutional advisory firm, must decide whether to recommend participation in this development to her client, QRS, a public pension fund. Samantha must evaluate this location, the Southern Florida office market, the proposed building design, the lease-up and financial projections, the economic terms of the deal, and the potential partner to make a decision.

    Keywords: Buildings and Facilities; Joint Ventures; Acquisition; Investment; Partners and Partnerships; Decision Choices and Conditions; Fair Value Accounting; Construction; Property; Real Estate Industry; Consulting Industry; Miami;


    Poorvu, William J., John H. Vogel Jr., Arthur I Segel, and Amy Silverstein. "Doral Costa." Harvard Business School Case 802-023, August 2001. (Revised June 2013.) View Details
  9. Jedi Bank

    Major Insurance Co. is a $15 billion insurance company that is an active, multi-family mortgage leader. This case is part of a negotiation game simulation that also includes Sunshine Villas, Silver Lane Apartments, and Jason Bosworth.

    Keywords: Mortgages; Interest Rates; Financing and Loans; Property; Negotiation Tactics; Management; Real Estate Industry; Banking Industry;


    Poorvu, William J., and John H. Vogel Jr. "Jedi Bank." Harvard Business School Case 396-327, April 1996. (Revised August 2005.) View Details
  10. Canary Wharf

    On September 25, 2002, Peter Anderson was due to meet with Morgan Stanley in ten minutes. Anderson had been the finance director of Canary Wharf Group (CWG) since Paul Reichmann and a group of investors had repurchased Canary Wharf in 1995. Anderson had joined Olympia & York in 1989 to finance Canary Wharf and had struggled through the bankruptcy of the project and its parent company, Olympia & York. He had stayed with Reichmann through those difficult years and worked with him to buy back the project from the banks. Largely due to Anderson's ability to raise the capital necessary for Canary Wharf to fund its growth, the project was now universally acclaimed as hugely successful. Anderson had now invested over half his professional life in Canary Wharf and he was anxious to find a solution to the conflicting objectives of the CWG.

    Keywords: Entrepreneurship; Negotiation; Business or Company Management; Financial Management; Financial Strategy; Financing and Loans; Crisis Management; Problems and Challenges; Insolvency and Bankruptcy; Success;


    Poorvu, William J., Arthur I Segel, and Camille Douglas. "Canary Wharf." Harvard Business School Case 803-058, October 2002. (Revised August 2004.) View Details
  11. Walden Woods

    In 1984, Mortimer Zuckerman and Ed Linde, through their firm, Boston Properties (BP), acquired land in Concord, MA to build a 147,000-square-foot, first-class suburban office building. BP proceeded to go through the permitting and approval process with the town and was ready to commence construction when in August 1988, the state, after considerable lobbying from historic and environmental groups, delayed the project by requiring an environmental impact statement. Environmental groups from around the country continued to organize against BP's development along with a nearby affordable housing development. While the project was delayed, the real estate market collapsed. But by the spring of 1993, the market was beginning to recover and BP had received all necessary permits. Zuckerman and Linde had to decide whether to proceed with the development or sell to the environmental group opposing them, and if they were to sell, at what price.

    Keywords: Risk and Uncertainty; Decision Choices and Conditions; Entrepreneurship; Property; Environmental Sustainability; Conflict and Resolution; Real Estate Industry; Massachusetts;


    Poorvu, William J., and Arthur I Segel. "Walden Woods." Harvard Business School Case 897-070, February 1997. (Revised July 2004.) View Details
  12. Textile Corporation Building, The

    Describes the potential acquisition of a downtown office building in Boston through a sealed bid auction. The prospective buyer analyzes in detail all elements of the income and expense statements, calculates the effect of all improvements, and imputes a purchase price on the property.

    Keywords: Mergers and Acquisitions; Property; Bids and Bidding; Auctions; Price; Asset Pricing; Real Estate Industry; Boston;


    Poorvu, William J. "Textile Corporation Building, The." Harvard Business School Case 387-189, June 1987. (Revised July 2004.) View Details
  13. AMB Consolidation, The

    Anne Shea, assistant vice president at the Curators' Fund (The Fund), is responsible for investing roughly $80 million in real-estate assets. Less than three years ago, Anne invested $40 million into a commingled fund run by AMB Institutional Realty Advisors, Inc., a leading pension fund advisor and asset manager. She had been pleased with The Fund's relationship with AMB; investing with AMB provided a cost-effective, value-added means for The Fund to directly own property. Recently, AMB proposed to consolidate all the properties under its management into a REIT and to take the new REIT public. Anne faces a decision: consent to the roll-up by exchanging her shares in the commingled fund for shares in the REIT, or sever ties with AMB by liquidating her position in the commingled fund at a price equal to the fair market value of the assets before the roll-up and public offering. In addition to the focus on REITs, qualitative issues in the case include the prevalence of conflicts-of-interest in most aspects of the highly fragmented real estate industry. The mechanics of a consolidation, the valuation of a management business, and the concept of "franchise value" are also addressed.

    Keywords: Private Ownership; Conflict of Interests; Industry Structures; Property; Investment; Public Ownership; Real Estate Industry;


    Poorvu, William J., and Daniel J. Rudd. "AMB Consolidation, The." Harvard Business School Case 899-144, January 1999. (Revised March 2004.) View Details
  14. Dewberry Capital

    In 2003, key executives of Dewberry Capital, a fast-growing, Atlanta-based real estate company, are evaluating their growth strategy and the resultant organizational issues. John Dewberry, the entrepreneurial founder of the firm, has developed a portfolio of neighborhood shopping centers, apartments, and in midtown Atlanta, a 160,000-square-foot office building. He would like to start a second adjacent, 300,000-square-foot office building, but worries about a weak market. Already new hires have been added to the team. The question is what other people should be added, when, and at what compensation level.

    Keywords: Buildings and Facilities; Selection and Staffing; Business Growth and Maturation; Entrepreneurship; Growth and Development Strategy; Real Estate Industry; Atlanta;


    Poorvu, William J. "Dewberry Capital." Harvard Business School Case 904-418, November 2003. (Revised March 2004.) View Details
  15. Ft. Myers Eldercare

    A developer attempts to get into the elderly housing business. The case reviews the various elderly housing options, how they differ from one another, and how the industry differs from other types of real estate.

    Keywords: Housing; Age Characteristics; Real Estate Industry; Florida;


    Poorvu, William J., and Arthur I Segel. "Ft. Myers Eldercare." Harvard Business School Case 898-041, November 1997. (Revised March 2004.) View Details
  16. Cricket Road, 503

    In September 2003, Mason Sexton, a young, inexperienced developer, was making plans to replace a rooming house he had inherited next to the University of Virginia campus in Charlottesville with a new 14-unit, 5-story apartment house. His attempts to assemble the information, approvals, and resources necessary to point out the steps and risks inherent in the development process. Using the example of a small-scale residential project, this case illustrates development lessons applicable to projects of any scale. A rewritten version of an earlier case.

    Keywords: Property; Entrepreneurship; Housing; Buildings and Facilities; Construction; Risk and Uncertainty; Management Practices and Processes; Real Estate Industry; United States;


    Poorvu, William J., and Donald A. Brown. "Cricket Road, 503." Harvard Business School Case 396-001, August 1995. (Revised December 2003.) View Details
  17. Fan Pier

    The owner of the Fan Pier site in South Boston has been found legally responsible for blocking the efforts of his development partner in attaining the approval necessary to build the $800 million megaproject they had planned together. It was believed that the owner hoped to structure a new relationship with some other partner who would share more of the economic benefits. The feuding partners need to decide how to handle the recent ruling. This case provides an opportunity to expose students to megaprojects: issues of partnership, design, architecture, changing marketing, and local politics play large roles.

    Keywords: Partners and Partnerships; Law; Projects; Design; Organizational Design; Marketing Strategy; Government and Politics; Property; Real Estate Industry; Boston;


    Poorvu, William J., and Katherine Sweetman. "Fan Pier." Harvard Business School Case 390-012, August 1989. (Revised October 2003.) View Details
  18. Note on Taxation

    Every real-estate transaction is affected by the tax consequences that result from its form and substance. Structuring a transaction without a thorough understanding of its tax considerations is likely to reduce the transaction's potential value. The failure to utilize the available tax benefits eliminates one of the major reasons for making a real-estate investment.

    Keywords: Property; Taxation; Investment;


    Poorvu, William J., Arthur I Segel, Samuel Plimpton, Michael D. Kummer, and Glenn S. Miller. "Note on Taxation." Harvard Business School Background Note 379-192, July 1979. (Revised May 2013.) View Details
  19. Financial Analysis of Real Property Investments

    Develops a conceptual framework for financial analysis of real estate investments, taking into consideration the necessity for baseline data, project trends, and forecast discontinuities.

    Keywords: Forecasting and Prediction; Investment Return; Trends; Real Estate Industry; Financial Services Industry;


    Poorvu, William J. "Financial Analysis of Real Property Investments." Harvard Business School Background Note 379-193, May 1979. (Revised August 2013.) View Details
  20. Bayside

    Explores the issues associated with leasing office space in a softening market from the perspective of a young leasing agent. Addresses market and lease analysis, negotiating tactics and strategy, and management of a financial partnership.

    Keywords: Management; Partners and Partnerships; Negotiation Tactics; Markets; Business Strategy; Leasing; Corporate Finance; Real Estate Industry;


    Poorvu, William J., and Richard Ellis Crum. "Bayside." Harvard Business School Case 390-113, December 1989. (Revised June 2003.) View Details
  21. American Dream, The

    Explores the process of purchasing a single family house through the eyes of a young couple. The couple is trying to determine what type of home to buy as well as how to finance it.

    Keywords: Personal Finance; Financing and Loans; Decisions; Real Estate Industry;


    Brown, Donald A., William J. Poorvu, and Richard E Crum. "American Dream, The." Harvard Business School Case 390-089, November 1989. (Revised November 2002.) View Details
  22. Meadowlands

    In February 1998, developers Ted Leonard and Charlie Sexton are attempting to acquire and develop a large multifamily site in Maryland, north of Washington, D.C. They are attempting to win financing and government approvals to develop a new kind of product for the market based on "new urbanism" precepts created by their architect, Andres Duany. They must convince their banker, city officials, and local brokers and contractors that their traditional neighborhood development plan is socially and economically viable.

    Keywords: Urban Development; Real Estate Industry; Maryland;


    Segel, Arthur I., and William J. Poorvu. "Meadowlands." Harvard Business School Case 898-074, February 1998. (Revised November 2002.) View Details
  23. Holland House, The

    In November 1993, Edward Geffner, executive director of Project Renewal, Inc. (PRI), is proposing that his not-for-profit firm develop Holland House at 351 West 42nd Street in New York City into a single- room occupancy hotel for homeless people. He has put together a combination of subsidy programs that he hopes will allow PRI to remodel this rundown property and provide a number of social services in a supportive setting for this underserved population.

    Keywords: Buildings and Facilities; Nonprofit Organizations; Social Entrepreneurship; Welfare or Wellbeing; Construction; Poverty; Property; Real Estate Industry; Construction Industry; New York (city, NY);


    Poorvu, William J., and Michael A. Everett-Lane. "Holland House, The." Harvard Business School Case 800-362, April 2000. (Revised August 2002.) View Details
  24. Cardon Family, The

    Wil Cardon is the third-generation steward of his family's real estate land development business. He grapples with issues of business structure, intergenerational business, compensation, and family values. This case includes in-depth discussion of the land development business in the Southwest.

    Keywords: Business Ventures; Family Business; Entrepreneurship; Values and Beliefs; Compensation and Benefits; Family and Family Relationships; Real Estate Industry;


    Poorvu, William J., and Melissa Yin-Yin Lam. "Cardon Family, The." Harvard Business School Case 802-196, April 2002. View Details
  25. Concord Center

    A major shopping center developer and an insurance company form a joint venture to develop a 900,000 square foot super-regional shopping center. Describes the nine-year struggle to deal with market, regulatory, and financial issues to get the project ready for construction. However, there is now a need for additional equity, and the partners must decide if they should still go forward with the project and how the partnership should be restructured.

    Keywords: Buildings and Facilities; Design; Joint Ventures; Construction; Partners and Partnerships; Governance Controls; Market Entry and Exit; Projects; Equity; Corporate Finance; Retail Industry;


    Poorvu, William J., and John H. Vogel Jr. "Concord Center." Harvard Business School Case 394-200, May 1994. (Revised November 2001.) View Details
  26. Astor Park Hotel

    Starwood Hotels, the world's largest REIT, is interested in acquiring an underperforming hotel in the Pacific Northwest. Steve Goldman, Starwood's VP of acquisitions and development, is wondering how much to pay for the property and how to reposition it.

    Keywords: Entrepreneurship; Mergers and Acquisitions; Asset Pricing; Property; Investment; Accommodations Industry; Northwestern United States;


    Poorvu, William J., Arthur I Segel, and Matthew C. Lieb. "Astor Park Hotel." Harvard Business School Case 800-194, February 2000. (Revised August 2001.) View Details
  27. Cortlandt Town Center

    CBL & Associates is trying to decide whether to go ahead with the development of a 790,000 square-foot power center with retailers such as Home Depot and Barnes & Noble. The costs are such that the developer needs to renegotiate its land acquisition price. Then the project must be presented to its board of directors for approval.

    Keywords: Buildings and Facilities; Decision Making; Entrepreneurship; Cost; Negotiation; Projects; Strategy; Construction Industry; Retail Industry;


    Poorvu, William J., and Arthur I Segel. "Cortlandt Town Center." Harvard Business School Case 800-232, November 1999. (Revised November 2000.) View Details
  28. Note on Property Types

    Commercial real estate in the United States can be divided into five distinct property types: apartment, office, hotel, industrial, and retail. This note presents the important characteristics of each of these five property types and highlights the "value drivers" for each type of property.

    Keywords: Organizational Structure; Property; Commercialization; Value; Real Estate Industry; United States;


    Poorvu, William J., and Daniel J. Rudd. "Note on Property Types." Harvard Business School Background Note 800-116, August 1999. View Details
  29. Asia Property Limited

    On October 23, 1998, Bud Lake leafed through his files on property markets in Asia. Lake was responsible for real-estate investments at an aggressive and eclectic investment fund with total assets of $1.5 billion--up from $400 million at its start in 1994. As the fund grew, Lake found himself scrambling to deploy his allotted 25% into real estate. For several months, he had been finding it difficult to buy U.S. properties. Recently, Lake had invested $30 million in a European "vulture fund," his first foray outside of the U.S. property market. Now Lake was taking a hard look at Asia, just as the lure of collapsing property values and $600 to $800 billion of troubled real-estate loans in the region was leading to unprecedented interest by U.S. real-estate firms. In a moment, he would hear a presentation from Jack Wong and Jason Biller, young entrepreneurs who were looking for a $25 million investment to get their new fund, Asia Property Ltd., off the ground. In addition, Lake has explored other options, such as buying the stock of a publicly traded Asian real-estate company.

    Keywords: Private Ownership; Entrepreneurship; Investment Funds; Globalized Markets and Industries; Public Ownership; Real Estate Industry; Asia; United States; Europe;


    Poorvu, William J., and Daniel J. Rudd. "Asia Property Limited." Harvard Business School Case 899-145, January 1999. (Revised August 1999.) View Details
  30. Westfield America

    The company is attempting to duplicate its Australian formula for successful mall ownership in the U.S. market. It must deal with rapidly evolving financial markets while recognizing and capitalizing on emerging trends in retailing.

    Keywords: Market Entry and Exit; Adaptation; Financial Markets; Property; Trends; Retail Industry; Real Estate Industry; Australia; United States;


    Poorvu, William J., Richard S. Tedlow, and Daniel J. Rudd. "Westfield America." Harvard Business School Case 899-260, May 1999. (Revised August 1999.) View Details
  31. Zhulebeno Plaza, The

    Cameron Sawyer, CEO of Sawyer & Co., seeks financing for a shopping center he is developing in Moscow. The case describes the opportunities and challenges of doing development in Russia.

    Keywords: Buildings and Facilities; Business Ventures; Entrepreneurship; Financing and Loans; Cross-Cultural and Cross-Border Issues; Real Estate Industry; Moscow;


    Poorvu, William J., and Daniel J. Rudd. "Zhulebeno Plaza, The." Harvard Business School Case 899-261, June 1999. View Details
  32. Woodmere Properties, Inc.

    In 1996, Woodmere Properties, a REIT owning 198 office and industrial properties in the southeast, is about to acquire Lanier Realty Trust. Nina Zanger, a potential investor in Woodmere, attempts to analyze the stock value of Woodmere both with and without the acquisition.

    Keywords: Valuation; Size; Acquisition; Real Estate Industry; United States;


    Poorvu, William J., and John H. Vogel Jr. "Woodmere Properties, Inc." Harvard Business School Case 898-069, November 1997. (Revised December 1998.) View Details
  33. Alexander Plaza

    In May 1996, Henry Bower, an asset manager for a real estate adviser, Medcem, has to negotiate the details of a lease after signing a letter of intent with a high technology company, Defentek, Inc. Defentek, Inc. is a fast-growing company with limited net worth that is dependent on the government as a government contractor. Defentek, Inc. would be taking a large block of space in a recently acquired Class A suburban office building outside of Washington, D.C., which has had a history of problem tenants in a problem market that is now somewhat improving. Henry must determine a negotiating strategy and take a position on the various issues raised by the tenant and the tenant's lawyer.

    Keywords: Negotiation Tactics; Negotiation Preparation; Agreements and Arrangements; Risk and Uncertainty; Real Estate Industry; Financial Services Industry; District of Columbia;


    Segel, Arthur I., and William J. Poorvu. "Alexander Plaza." Harvard Business School Case 897-066, November 1996. (Revised July 1997.) View Details
  34. Jason Bosworth

    Jason Bosworth is a real estate investor who wants to purchase apartments for a $300 million limited partnership in which he is the general partner. This case is part of a negotiation game simulation that includes Sunshine Villas, Silver Lane Apartments, and Major Insurance Co.

    Keywords: Financing and Loans; Property; Negotiation Tactics; Partners and Partnerships; Management; Real Estate Industry;


    Poorvu, William J., and John H. Vogel Jr. "Jason Bosworth." Harvard Business School Case 396-328, April 1996. (Revised March 1997.) View Details
  35. Sunshine Villas

    Ms. Courtney Lowe is president and sole owner of CL Development. She is looking to sell Sunshine Villas to pay off her bank and make a profit. This case is part of a negotiation game simulation that includes Jason Bosworth, Silver Lane Apartments, and Major Insurance Co.

    Keywords: Property; Mortgages; Negotiation Tactics; Customer Ownership; Sales; Real Estate Industry;


    Poorvu, William J., and John H. Vogel Jr. "Sunshine Villas." Harvard Business School Case 396-329, April 1996. View Details
  36. Silver Lane Apartments

    Scott Johnson is a successful developer of single-family and multi-family housing who specializes in renovating and turning around poorly performing apartments in good locations. He plans to sell a 506-unit property for portfolio and estate planning purposes. This case is part of a negotiation game simulation that includes Jason Bosworth, Sunshine Villas, and Major Insurance Co. Teaching Purpose: This simulation enables students to analyze a couple of real estate properties in depth and participate in a large-scale real estate transaction. They learn first hand about the process of buying, selling, and financing real estate and about negotiation.

    Keywords: Housing; Mortgages; Property; Negotiation Tactics; Real Estate Industry;


    Poorvu, William J., and John H. Vogel Jr. "Silver Lane Apartments." Harvard Business School Case 396-330, April 1996. View Details
  37. McArthur/Glen Realty Corp.

    Jonathan Potter is considering an investment in the newly formed McArthur/Glen Real Estate Investment Trust. The case gives some background on real estate investment trusts and their history. Also discusses manufacturers' outlet shopping centers, the type of real estate that McArthur/Glen Realty owns and develops. The REIT industry is experiencing explosive growth, and it is important to assess its role and viability both as part of the real estate industry and as part of the overall market for public securities.

    Keywords: Investment; Real Estate Industry;


    Poorvu, William J., and John H. Vogel Jr. "McArthur/Glen Realty Corp." Harvard Business School Case 394-166, March 1994. (Revised December 1995.) View Details
  38. The JKJ Pension Fund

    The JKJ pension fund currently has $187 million invested in 14 properties. Sarah Griffin, the portfolio manager for real estate, needs to value each of the properties and recommend which ones should be sold and which ones to hold. She further needs to recommend guidelines for new investments and the appropriate portfolio for a major pension fund.

    Keywords: Property; Investment Portfolio; Valuation; Investment Funds; Financial Management; Real Estate Industry; Financial Services Industry;


    Poorvu, William J., and John H. Vogel Jr. "The JKJ Pension Fund." Harvard Business School Case 395-133, December 1994. (Revised December 1995.) View Details
  39. SouthPark IV

    A young entrepreneur examines an 80,000 square foot office/warehouse building as a potential acquisition. The building is currently fully leased but all four leases will expire shortly. Due to changing market conditions, the protagonist has to look at current market conditions as well as trying to estimate future conditions in order to complete his analysis. The case is designed to explore basic issues in real estate valuations. The emphasis is on developing a simple set-up based on the project's cash flows and then examining how returns and values are affected by changing certain assumptions.

    Keywords: Mergers and Acquisitions; Valuation; Property; Management Analysis, Tools, and Techniques; Leasing; Cash Flow; Real Estate Industry;


    Poorvu, William J. "SouthPark IV." Harvard Business School Case 390-181, April 1990. (Revised December 1995.) View Details
  40. Domik Project, The

    Cameron Sawyer, CEO of Sawyer and Co., seeks financing for an office building he is developing in Moscow. The case describes the opportunities and challenges of development in Russia. Also highlights entrepreneurial opportunities in a changing world.

    Keywords: Buildings and Facilities; Opportunities; Corporate Entrepreneurship; Financing and Loans; Problems and Challenges; Growth and Development Strategy; Moscow;


    Poorvu, William J., and John H. Vogel Jr. "Domik Project, The." Harvard Business School Case 395-104, November 1994. (Revised December 1995.) View Details
  41. Bourland Companies, The

    Michael Bourland, the president of the Bourland Companies, needs to refinance two properties, an office building in southern New Hampshire and a retail property in Massachusetts. He is considering three alternatives: a renewal of a bank mini-perm, a 15-year mortgage from an insurance company, and a new securitized loan offered by the Bank of Boston. The case focuses on issues related to mortgage securitization and how it stacks up against other products in the market. Also raises issues about family real estate businesses.

    Keywords: Capital Markets; Property; Mortgages; Family Business; Financial Management; Family Ownership; Real Estate Industry; Massachusetts; North and Central America;


    Poorvu, William J., and John H. Vogel Jr. "Bourland Companies, The." Harvard Business School Case 395-151, February 1995. (Revised September 1995.) View Details
  42. Tysons Corner

    Hollinswood Associates, a joint venture partnership, has developed and operated a Marriott Hotel in Tysons Corner, Virginia. The partnership has been very successful in the past but it is now facing a significant cash flow deficit. Designed to examine how a partnership evolves to deal with changing circumstances. Also exposes students to both the hotel industry and hotel development. The complex operating environment of the hotel industry provides a natural setting in which to explore partnership conflicts.

    Keywords: Conflict Management; Change Management; Partners and Partnerships; Joint Ventures; Cash Flow; Investment; Accommodations Industry; Real Estate Industry; Virginia;


    Poorvu, William J. "Tysons Corner." Harvard Business School Case 390-052, October 1989. (Revised August 1995.) View Details
  43. Graybar Syndications

    A potential investor evaluates a proposed offering--a major office building in downtown Manhattan.

    Keywords: Buildings and Facilities; Investment; Construction; City; Valuation; Real Estate Industry; Construction Industry; New York (city, NY);


    Poorvu, William J. "Graybar Syndications." Harvard Business School Case 313-324, May 1968. (Revised January 1992.) View Details
  44. Savannah West

    Allison Porter, a loan officer for Chemical Bank, must decide whether to make a construction loan on a 216-unit apartment building to be built in Savannah, Georgia. In teaching this case, one begins by looking at the economics, marketing data, etc., of the proposed apartment building and then one discusses the kinds of terms and conditions the bank should impose.

    Keywords: Credit; Property; Financing and Loans; Banks and Banking; Housing; Risk Management; Valuation; Real Estate Industry; Banking Industry; Georgia (state, US);


    Poorvu, William J., and John H. Vogel Jr. "Savannah West." Harvard Business School Case 381-081, December 1980. (Revised January 1992.) View Details
  45. Anderson Street

    A recent college graduate decides to buy a small multiple-unit building in Boston as a residence and an investment. He learns about finding and valuing properties, property management, construction, and mortgages. After some difficulty he finds a building in an area that is increasing in value. The previous owner has run out of funds to complete renovations.

    Keywords: Buildings and Facilities; Property; Mortgages; Valuation; Construction; Real Estate Industry; Boston;


    Poorvu, William J. "Anderson Street." Harvard Business School Case 386-036, August 1985. (Revised January 1992.) View Details
  46. Prospect Hill

    Bill Hassett, a partner in the Nelson Companies, has to make some important decisions regarding the expansion of Prospect Hill Executive Office Park in Waltham, Massachusetts. The pre-development issues concerning him about the Hillside Building include how to position Hillside in a softening market, how to handle certain parking issues, and whether expanded day care facilities would enhance lease-up or increase expenses. He is also considering arranging an interest rate hedge on the adjustable rate interest. This case deals with suburban development issues, and focuses on adapting to possible structural changes in the real estate industry.

    Keywords: Expansion; Growth and Development Strategy; Property; Decisions; Interest Rates; Urban Development; Organizational Structure; Real Estate Industry; Massachusetts;


    Poorvu, William J., and Katherine Sweetman. "Prospect Hill." Harvard Business School Case 390-011, August 1989. (Revised January 1992.) View Details
  47. One Leather Street

    Presents a problem involving rehabilitating a small office building in Boston. Describes an investment decision which is knowingly underfunded. As construction proceeds, the developer realizes that it is not up to building code and faces difficult business and ethical decisions regarding restructuring the deal, finding other sources of capital, replacing the contractors, and dealing with a difficult building inspector. Also points to the necessity of doing accurate financial planning.

    Keywords: Financial Management; Ethics; Investment; Decisions; Decision Choices and Conditions; Property; Real Estate Industry; Construction Industry; Boston;


    Poorvu, William J., and Jeffrey A. Libert. "One Leather Street." Harvard Business School Case 388-084, December 1987. (Revised May 1991.) View Details
  48. Grosvenor Park

    Dick Dublin believes he has designed a townhouse development which will appeal to mobile young professionals. Dublin has removed some market risk by locking in a forward commitment for low interest rate loans for future purchasers at Grosvenor Park. The pricing strategy calculated to ensure a quick sell-out may be foiled by the expensive demands of the local planning department. Grosvenor Park is a good case study in residential project management, spanning the life cycle from pre-development to sell-out.

    Keywords: Financial Management; Projects; Financing and Loans; Property; Financial Strategy; Price; Strategic Planning; Business and Government Relations; Real Estate Industry; Maryland;


    Poorvu, William J., and Katherine Sweetman. "Grosvenor Park." Harvard Business School Case 390-010, August 1989. (Revised May 1991.) View Details