代做PROP 351: ADVANCED PROPERTY FINANCE AND INVESTMENT Semester 1, 2024代做Prolog

日期：2024-04-20 10:37

PROP 351: ADVANCED PROPERTY FINANCE AND INVESTMENT

Semester 1, 2024

Project 1: Group Assignment (20%)

This assignment consists of 50 marks in total.

Investment Recommendation from Argosy’s Portfolio

Each of you belongs to an property investment fund that is interested in acquiring a couple of properties from Argosy’s portfolio. Argosy’s portfolio features its balanced profile with properties in different sectors. Your boss has assigned task to your team to form a standalone property portfolio. Your team has been given a budget of $150 million.

Your team needs to accomplish this task by recommending one to two properties (or partially each) that will make the best use of the budget, based on your clients’ preferences and risk tolerance.

Assume your clients’ collective preferences and risk tolerance level happen to be similar to your team’s.

Complete the task based on the assignment instructions.

Human capital & obligation of each group member

Each of you is a member and leader for a team of four. Form. a group with four students on your own by Monday 18 March 2024, and sign your team up under “Investment group” of “People” onto Canvas.

Make sure that each group member will complete reading and signing “Contract- on-Group-Assignment_2024.docx” with initials on each page of the agreement and endorsement on the final page. Highlighted text space in the file needs to be filled in before submission. A representative of a group is required to upload the endorsed contract onto the folder of the group on Canvas by Friday 22 March 2024.

Goal of your team

You are required to prepare and complete an investment recommendation report for the budget of $150 million, based on available information you can find in markets and tools you have learned from the topics of relevance from the course.

Work together collaboratively

Make sure that each of you will have engaged with this project and that the whole team will have worked collaboratively. It is normal that team members may have very different views, understanding and preferences from other members. The key to resolve problems within a team is professional and effective communications among all team members with respect.

Information and Resource for Properties and Markets

Available properties:

The available properties for you to invest in are in Argosy’s property portfolio (here is the website of Argosy: https://www.argosy.co.nz) .

Go to the tag of “Our Properties” on Argosy’s website to find the recent observed valuation and yield information for individual properties in Argosy’s portfolio:

https://www.argosy.co.nz/properties?type=#Properties

Then download and browse Argosy’s annual report for 2022 using the link here:

https://www.argosy.co.nz/assets/documents/Argosy-Annual-Report-2022_web.pdf

Note that dollars for individual property’s valuation in Argosy’s 2022 annual report are in thousands, which is similar to the recent observed valuation on the current  webpage of Argosy.

Property market information:

The most recent reports by Jones Lang LaSalle, CBRE or Colliers International (you can select one of the above consultancy companies, and it is NOT required to go through reports by all of them). I encourage you to Google and find the website and documents of relevance from one or a couple of the above consultancy companies.

Guidance and theories

Lecture notes and case materials.

Tools and technology

Online tutorials for the topics of ‘Weeks  1-2’ and ‘Weeks  3-4’ .  Excel spreadsheets for examples and exercises for the topics of ‘Weeks 1-2’ and ‘Weeks 3-4’ .

Final Product, consisting of two parts:

Part ONE: A business report with a justified recommendation for property investment in one to two properties (or partially for each) as constrained by the overall budget (though you do not have to use up the budget) .

The goal of the team: you are required to

1)  provide reasons on your selection of two properties regarding their property sector, location, tenant profile, etc.;

2)  assume the probability of total return under at least four market scenarios, for each property that you selected;

3)  demonstrate an understanding of real world and market information that form your assumption and expectation of total return for each of the two properties;

4)  justify  your  assumption  of  the   probability  of  total   return,  using  real  world information and your expectation on market scenarios;

5)  take  into  consideration  risk-return  performance  of total  return for  a  property portfolio;

6)  demonstrate  skills  on  property  asset  allocation  based  on the  budget  (available fund);

7)  conduct  calculations/analyses/budget  allocation  using  MS  Excel  based  on  numbers under your assumed market scenarios. Formulas must be retained in your submitted MS Excel file.

8)  Decide the percentage of $150 million budget allocating to one or two selected properties from the Argosy portfolio, based on the application of an efficient frontier and your team’s preference and risk tolerance. Note that only ONE efficient frontier is required to be submitted.

9) recommend on purchasing one to two properties (or partially for  each) under whichever property sectors.

10) The style of the report:

o  Include a cover page and input your Group number and each team member’s full name on it.

o  Use 12-point font, double space for the report.

o  Total number of pages for business report (Part ONE of submitted document) should not exceed 30 pages including the cover page.

o  You are required to include the chart of your efficient frontier in the report.  Make sure that the chart of your efficient frontier in your report is the same as that in your submitted MS Excel file.

o  You are welcome to include other figures and pictures in the report; however, you are  required to conserve the space for  paragraphs  in text too. Any figures and pictures included should be discussed in the report.

o  You are required to label all charts and tables on top of each chart/table in your report, for example, “Figure 1. Trend of vacancy rate”. Make sure that you acknowledge the source of figures and pictures at the bottom of each figure/picture.

o  You   are   required   to    use   APA   7th     reference   style   in   the   report:

https://www.cite.auckland.ac.nz/2/files/apa_6th_and_apa_7th_key_chang es.pdf .

o  The report should consist of the following elements:

.     Executive summary

.     Main  body  (your  own  development  of  your  argument  and  your arrangement of the above required information)

口 Make sure that you have appropriate sections and a title for

each section in line with the structure of your argument

.     Conclusion

.     Number each page of your business report.

o  Note  that  no  marks are allocated to the design of the  report. I do  NOT recommend you spend lots of time on designing and decorating a report. Just ensure you are satisfied with the overall structure, flow, logic and writing of your report before your submission.

Part TWO:

1)  Evidence  of  email  correspondences,  in  a  professional  style,  with  each  group members’ agreement on the team’s risk tolerance, for e.g., high-level, medium- level or low-level.

a.   Print email correspondences into a PDF file.

b.  Maximum six pages for the email string.

2)  Evidence  of  a  document  of  meeting  minutes  taken  down  based  on  one  group

meeting (one to two pages). In the document, clearly record

a.  The name of attendants,

b.  Meeting venue (or URL link to online meeting), time and date.

c.   Meeting content: key points discussed, problems to be solved and actions to be taken.

Assessment criteria on report (refer to marking rubrics at the end of this file)

a)  Property knowledge;

b)  Excel skills;

c)  Report mechanics;

d)  Report writing skills;

e)  Professional collaboration.

Instruction on Submission

Each team is required to submit a soft copy of the report consisting of the above two Parts (Part ONE—business report and Part TWO— evidence of collaboration) AND the MS Excel file used for calculations and decision making, onto Canvas by 4pm on Friday 26 April 2024.

Note that a link to online Google sheets CANNOT be accepted as submission in lieu of Excel file.

Updated Department of Property Assignment Extension and Late Penalty Policy

The Department of Property has introduced updated assignment extension and  late penalty policy starting from Semester 1, 2024. The present policy is shown below.

If you encounter an extraordinary circumstance, you may submit an extension request in advance of the assessment due date by email to the course director and course coordinator Dr Zhi Dong at z.dong@auckland.ac.nz with email title starting with “PROP 351 Assignment

Extension Request [Group Number]” .

Extensions will be considered where a student has experienced a serious personal misadventure or a death in the immediate family. For extension requests arising from illness or injury, no extensions will be granted without a valid medical certificate.

Additionally, if a group applies for an extension more than one week after the original due date, the extension will not be granted irrespective of the circumstances.

It is the personal responsibility of each student to keep secure copies of all their assignments. As a sensible precaution to theft or computer breakdown, students must regularly back up electronic documents and store them safely. Extensions will not be granted for problems such as accidentally erased computer files.

Furthermore, extensions will not be granted for academic or non-academic workload reasons

(for example, a number of assignments due at the same time or a busy period at a student's workplace).

In situations where a student's circumstances do not warrant an extension and they submit their assessment late, a penalty will be deducted at the rate of 10% per calendar day based on possible full marks. Note that the deduction is calculated based the unit of day(s).

For example, the assignment consists of 50 marks in total. If a group submits their assignment   say more than two days and less than three days after the due date, the raw grade entered by the marker (e.g. 40/50) will be deducted by 30% of 50, resulting in a 15 mark deduction. It means   that the grade will be 25/50 for the assignment.