CI 104: Investment Analysis for Commercial Investment Real Estate

The capstone. The only course on the Path to the Pin that teaches refinancing, capital improvement, and disposition decisions as an integrated framework — at the exact moment $1.5 trillion of commercial real estate debt is maturing through 2027. 

CI 104 is the fourth and final core course in the CCIM Designation curriculum — the capstone that unites everything you learned in CI 101, CI 102, and CI 103. Students master the three decisions every commercial real estate owner faces every year — refinance, capital improvement, disposition — and learn to apply sensitivity analysis and risk analysis the way institutional underwriters do. By the end of the course, students can sit on an investment committee, work through a refinance-versus-sale decision on an eight-figure property, and produce the math defensible to a board, a credit committee, or an LP. 

WHO CI 104 IS FOR

CI 104 is the capstone — and it attracts the most senior of our candidates, as well as institutional and private-wealth practitioners who use it as a sharpening exercise rather than a credential path. Our classrooms include: 

• Senior commercial real estate practitioners pursuing the Pin — most candidates describe CI 104 as their favorite of the four core courses. 
• Institutional brokers and capital markets professionals at JLL Capital Markets, CBRE, NAI, Cushman, Newmark, Marcus & Millichap Institutional Property Advisors. 
• Private equity, family office, and private wealth CRE professionals applying the refinance/capex/disposition framework portfolio-wide. 
• Career changers and adjacent professionals completing the full Designation — CI 104 is the final classroom day on the journey to The Pin. 

CONTINUING EDUCATION

Two broker credit hours under CCIM Institute CE provider #99