This course examines strategies for mitigating the legal, property, and portfolio risks associated with developing and operating income producing properties. The course begins by examining risks created by commercial property leases. The course then analyzes strategies for mitigating interest rate and currency risk; debt risk; and real estate development risk. The course also illustrates how the market values publicly traded Real Estate Investment Trusts (REITs). Finally, the course examines how risk changes with real estate portfolios consisting of multiple properties, and to optimally incorporate income property investments in mixed asset portfolios.