The Right of Acquisition: Options in Commercial Real Estate

Kellogg School of Management Cases

ISSN: 2474-6568

Publication date: 20 January 2017


After reading and analyzing the case, students will be able to:

  • Apply real options theory to the valuation of a purchase option in a commercial real estate lease

  • Identify the common mistakes in applying traditional discounted cash flow (DCF) analysis to financial problems with option components



Furfine, C. and Petersen, M. (2017), "The Right of Acquisition: Options in Commercial Real Estate", Kellogg School of Management Cases.

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