Master of Science Degree in Real Estate
Course Descriptions
REAL 600 Real Estate Decision Making
Credits: 3
Degree students only.
This course provides an introduction to professional practices in real estate decision making. The course focus is on real estate enterprise management, real estate finance, public sector relationships, property regulation and investment decision making with particular emphasis on the activities, roles and participants involved. Topics include: real estate development, site selection, leasing and pricing strategies, finance options, investment analysis practices, real estate investment trusts, partnerships and asset management.
REAL 630 Real Estate Information Technology
Credits: 3
Degree students only.
This course is intended to provide the student with a comprehensive understanding of how to use technology in analyzing commercial real estate opportunities. The course begins with an overview of market analysis and how selected software applications can aid in decision making. Students will learn the role that market analysis plays in development, acquisitions, investment analysis and site selection. This is followed by a comprehensive study of how software applications are used in analyzing commercial real estate opportunities and investment decisions.
REAL 740 Corporate Real Estate
Credits: 3
Degree students only.
Prerequisite: REAL 600 Real Estate Decision Making
Corporate real estate administration and strategy is comprised of multiple interrelated functions. This course explores the following areas of corporate real estate: real estate as a strategic asset, real estate and corporate competitive advantage, valuation, financing corporate real estate, performance and lease analysis, facilities management, outsourcing, sustainability, development, private/public sector relationships and negotiation practices.
REAL 743 Urban Land Economics
Credits: 3
Degree students only.
Prerequisite: REAL 600 Real Estate Decision Making
This course helps you understand the factors in the location decisions of households and firms, and how these lead to the determination of the supply of, and demand for, urban land. The interaction of these individual decisions and how they lead to the formation and growth of cities will be explored. In addition, economic problems specific to urban areas will be studied, including housing and transportation. Expenditure, resource allocation and taxation decisions will be analyzed in conjunction with their role in responding to urban problems. Topics include macroeconomics of urban areas, the process of urbanization, the marketing for urban land, institutional characteristics of the urban land market, the size and structure of urban areas, urban housing transportation and poverty and local government finance.
REAL 746 Market Analysis and Feasibility Studies
Credits: 3
Degree students only.
Prerequisite: REAL 600 Real Estate Decision Making
This course provides you with the skills and knowledge necessary to evaluate the productive attributes of parcels of real estate as they relate to the demand for a particular use and the supply of competitive properties within a specified market. Focus is placed on the role of market analysis and feasibility studies in real estate decision making and valuation. You will learn the process of property analysis through the study of property productivity, demand for and supply of property, comparative analysis and forecasting.
REAL 750 Commercial Real Estate Valuation
Credits: 3
Degree students only.
Prerequisite: REAL 743 Urban Land Economics or REAL 746 Market Analysis and Feasibility Studies
Valuation of commercial real estate using the cost, market, and income approaches to value are presented and evaluated from a decision-makers perspective. Professional ethics and standards of professional appraisal practice are extensively explored. Professional quality narrative appraisals using comparable sales, depreciated cost and discounted cash flow are reviewed and analyzed for adequacy and sufficiency. Additional topics studied include cost segregation, portfolio analysis, and litigation support techniques.
REAL 760 Investment Property Analysis
Credits: 3
Degree students only.
Prerequisite: REAL 600 Real Estate Decision Making
Evaluating the role of financing and leverage in real estate investment analysis; identifying alternative types of financing; valuation of financial structure; sources of equity financing for real estate; mortgage securitization and the operation of secondary mortgage markets. Fitting investment strategy to context of physical property, leverage, form of ownership, income tax and management alternatives. Emphasis is on analysis of limited partnerships, trusts, corporate real estate enterprises and securitization to fund real estate.
REAL 770 Real Estate Development
Credits: 3
Degree students only.
Prerequisite: REAL 743 Urban Land Economics or REAL 746 Market Analysis and Feasibility Studies
This comprehensive property development course integrates all functional areas of real estate for the production of housing, retail, commercial, corporate and industrial real estate. Use of market research, feasibility studies and market analysis in contract negotiation for project construction, marketing and management of new and redevelopment opportunities in stable and developing markets.
REAL 775 International Real Estate Development
Credits: 3
Degree students only.
Prerequisite: REAL 743 Urban Land Economics or REAL 746 Market Analysis and Feasibility Studies
This concentrated property development course focuses on sustainable, mixed-use international real estate development. An international developer will provide students with the opportunity to partner with them in the site preparation, construction, financing,leasing, brokerage and property management of a long-term, developing site. Students will employ their knowledge of residential, retail, commercial market research and feasibility studies to help determine the best development opportunities in a long-term development project.
OPMT 600 Statistical Methods for Decision Making
Credits: 3
Degree students only.
Analyzing and interpreting quantitative information is a primary component of effective business strategy development. This course examines statistical methods including sampling concepts, regression analysis and hypothesis testing. More advanced methods of statistical analysis for forecasting, quality control, simulation and database management will also be discussed. The class will include case analysis, discussions of business related statistical problems and readings focused on state of the art use of statistical methods in business decision making.
BLAW 730 Legal Issues in Real Estate
Credits: 3
Degree students only.
This course provides you with a comprehensive understanding of the legal issues affecting the valuation of property and your liability, as a real estate professional. You will learn about the issues, legal precedents and ethical obligations bearing on professional liability. You will also gain an understanding of the political and social environment in which you operate. Topics include ethics, professional liability, environmental issues, leases, bankruptcy and receivership, condemnation, construction contracts, zoning and planning, taxation, expert testimony and the Americans with Disabilities Act.
BETH 601 Business Ethics
Credits: 3
Degree students only.
This course will enhance the student’s ability to recognize, understand, and express the ethical dimensions of the situations and decisions they may expect to face as professionals. It will provide the knowledge essential to making sound decisions in business and seek to develop the skills and commitments required to navigate complex ethical issues successfully. In pursuit of these ends, the course will make use of a spectrum of materials and pedagogies, which may include lectures, discussions of readings from classic and contemporary authors, examination of cases and experiential exercises.
REAL 749 MSRE Thesis
Credits: 6
Degree students only.
Prerequisite: Complete 10 Core Courses
Students not wishing to write a MS Thesis may complete 6 elective credits in Opus College of Business graduate course work with the approval of their advisor.
The master's thesis is an appropriately phased investigation of a specialized area of student interest in real estate. The master's thesis can take on many forms of academic inquiry involving real estate issues. This includes the investigation of theoretical and applied topics, testing a specified hypothesis or the development of a case study. The master's thesis presents the nature of the investigation, significance of the inquiry to the profession or field of study, a review and discussion of the relevant literature, a well defined method of inquiry exploring the topic of interest and specific findings and/or conclusions. The master's thesis is proposed and prepared under the supervision of a faculty thesis advisor.
