Thomas Musil

Assistant Professor, Finance

tamusil@stthomas.edu

(651) 962-5847

2115 Summit Ave
McNeely Hall 358
St. Paul, MN 55105

B.A., Political Science, Macalester College
D.P.A., Doctorate in Public Administration, Hamline University
M.B.A., , University of St. Thomas

See publications in UST Research Online

Tom Musil is a real estate professor in the Department of Finance. Formerly, he held positions as the director of the Master of Science Program in Real Estate and the Shenehon Center for Real Estate Education (1993-2009) at the University of St. Thomas, director of the Real Estate Education Program at the University of Minnesota (1980-1988) and director of the Minnesota Center for Real Estate and Housing Education at St. Cloud State University.

Musil has written several papers and articles on business, real estate and economic development topics, and is a member of professional and academic editorial boards for leading real estate journals including the Journal of Corporate Real Estate and the Journal of Real Estate Literature. During the past 30 years, Musil has served on numerous committees and boards in real estate related government, nonprofit and professional organizations.

Summer 2015 Courses
Summer 2015 Courses
Crs - Sec Title Days Time Location
Fall 2015 Courses
Fall 2015 Courses
Crs - Sec Title Days Time Location
REAL 360 - 01 Real Estate Property Mgmt - T - R - - - 1330 - 1510 MCH 118
Description of course Real Estate Property Mgmt : CRN: 43076
Owner, management and tenant relations within context budgeting, marketing and management planning is examined. Management for multi-family, office, retail and industrial property differentiated. Entrepreneurial roles of managers for finding tenants and conducting lease negotiations is explored. Offered in fall semester. Prerequisites: REAL 200 and junior standing

Schedule Details

Location Time Day(s)
REAL 600 - 601 Real Estate Decision Making - T - - - - - 1800 - 2100 TMH 351
Description of course Real Estate Decision Making : CRN: 43078
This course is part of the MS Degree in Real Estate. Enrollment is also open to all OCB graduate students. No Real Estate Pre-requisite required. (MBA students must be eligible to enroll in elective coursework in order to enroll in this course and must contact the MS degree in Real Estate office or their academic advisor to register.) 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.

Schedule Details

Location Time Day(s)
REAL 770 - 601 Real Estate Development M - - - - - - 1800 - 2100 TMH 351
Description of course Real Estate Development : CRN: 43081
Comprehensive property development course integrating 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.

Schedule Details

Location Time Day(s)
J-Term 2016 Courses
J-Term 2016 Courses
Crs - Sec Title Days Time Location
Academic and Professional Positions
  • Assistant Professor, University of St. Thomas - Opus College of Business, St. Paul / Mpls (2009 - present)
  • Director, Shenehon Center for Real Estate Education and Master of Science Degree in Real Estate Prog, University of St. Thomas, St. Paul / Minneapolis (1993 - 2009)
  • Director, Minnesota Center for Real Estate and Housing Education, St. Cloud State University, St. Cloud (1988 - 1993)
  • Assistant Professor, St. Cloud State University, St. Cloud (1988 - 1989)
  • Director, Real Estate Education Program, University of Minnesota, Minneapolis (1980 - 1988)
  • Real Estate Consultant, U.S. Postal Service, Bloomington (1986 - 1988)
  • Housing Courses Coordinator, University of Minnesota, Minnesota Extension Service, St. Paul (1978 - 1980)
  • Home Ownership Program, Minnesota Housing Finance Agency (MHFA), St. Paul (1977 - 1978)

Professional Memberships
  • American Arbitration Association Panel of Arbitrators
  • American Real Estate Society
  • Corporate Real Estate Network (CORNET)
  • Industrial Asset Management Council
  • International Council of Shopping Centers
  • National Association of Certified Valuation Analysts and Urban Land Institute
  • Urban Land Institute

Professional Service
  • Appraisal Institute - University Relations,
  • Journal of Corporate Real Estate,
  • Journal of Real Estate Literature, Editor
  • Metropolitan Council/Metropolitan Transit Authority,
  • Minnesota Real Estate Journal,
  • Shenehon Center for Real Estate,
  • Smart and Sustainable Built Environment Journal, Reviewer

Publications
  • Musil, T. A. (2014). Developer/community contracts: The emergence of community benefit agreements in real estate development. Real Estate Finance, (31)(1), pp. 31-40
  • Musil, T. A. (2012). The sleeping giant: Community benefit agreements and urban development. Urban Lawyer, (44)(4), pp. 827-852
  • Musil, T. A., & Halloran, J. (2012). Arbitrating real estate agency disputes: A diverse and changing landscape. Dispute Resolution Journal, (67)(4), pp. 85-97
  • Musil, T. A. (2011). Evaluating the economic impacts of corporate real estate activities. Journal of Corporate Real Estate, (13)(3), pp. 181-196
  • Musil, T. A. (2011). Evaluating development and community benefits of shopping malls. Journal of Financial Management of Property and Construction, (16)(2), pp. 111-125
  • Musil, T. A., Brooks, C., & Tsolacos, S. (2011). Review of real estate modeling and forecasting. Journal of Real Estate Literature, (19)(1),
  • Musil, T. A. (2010). Review of megaregions: Planning for global competitiveness. Journal of Real Estate Literature, (18)(2),
  • Musil, T. A. (2009). Review of financial shock: A 360 degree look at the subprime mortgage implosion and how to avoid the next financial crisis. Journal of Real Estate Literature, (17)(1),
  • Musil, T. A., & Halloran, J. (2009). Arbitrating multiple Peril Crop Insurance disputes. Dispute Resolution Journal,
  • Musil, T. A. (2008). Review of urban America growth, crisis and rebirth by John F. McDonald. Journal of Real Estate Literature, (16)(2),
  • Musil, T. A. (2007). What development regulatory variables say---or don't say---about a municipality. Journal of Real Estate Research, (29)(2),
  • Musil, T. A. (2006). Review of market analysis for real estate: Concepts and applications in valuation and highest and best use by Stephen Fanning. Journal of Real Estate Literature, (14)(2),
  • Musil, T. A. (2006). Critical issues in corporate real estate: Developing a better understanding of public sector project impact analysis practices. Journal of Corporate Real Estate, (8)(3),
  • Musil, T. A. (2005). Review of 275 corporate real estate mistakes and how you can avoid them, by Stephen Roulac. Journal of Real Estate Literature, (3),
  • Musil, T. A. (2005). Integrating business school curricular resources into real estate practitioner professional development. Journal of Real Estate Practice and Education, (8)(1),

Books and Chapters

Research Interests
  • Public Finance
  • Real Estate
  • Valuations

Awards and Honors
  • Board of Directors of Minnesota/Dakotas Chapter of the CCIM-Commercial Investment Real Estate Insti, 2004
  • National Association of Industrial and Office Properties (NAIOP)., 2006

Presentations
  • "Community influence and public policy initiatives in determining highest and best use" ARES - American Real Estate Society, San Diego, California, April 01, 2014
  • "Community influence and public policy initiatives in determining highest and best use" ARES - American Real Estate Society, San Diego, California, April 01, 2014
  • "Using academic research in the classroom" ARES - American Real Estate Society, Kona, Hawaii, April 01, 2013
  • "Community benefits and community development: Evaluating the outcomes of community benefit agreements in real estate development" ARES - American Real Estate Society, Kona, Hawaii, April 01, 2013
  • "A model of highest and best use analysis for urban development and redevelopment" OCB Faculty Research Symposium, Minneapolis, Minnesota, April 01, 2013
  • "Industry experts roundtable" Healthcare and Medical Properties, Golden Valley, Minnesota, March 01, 2013
  • "Housing markets" Minnesota Economic Association Conference, St. Paul, Minnesota, October 01, 2012
  • "Regulation of real estate development through the use of community benefit agreements: An examination of development regulatory control and community environmental justice goals" ARES - American Real Estate Association, Tampa, FL, April 01, 2012
  • "Community benefit agreements: Tools for improving public health" Minnesota Pollution Control Agency - Collaborative on Health and the Environment, December 15, 2011
  • "Evaluating the economic impact of shopping malls" Industrial Real Estate and Economic Development Conference, Golden Valley, MN, November 18, 2011
  • "Community Benefit Agreements: Shaping the Future of Real Estate and Economic DevelopmentCommunity benefit agreements: Shaping the future of real estate and economic development" Big Green Conference, Bloomington, MN, November 10, 2011
  • "The Sleeping Giant: Community Benefit Agreements and Changing Community Power in Real Estate Developmenthe sleeping giant: community benefit agreements and changing community power in real estate development" ARES - American Real Estate Society, Seattle, Washington, April 15, 2011
  • "Economic forecast: What to expect in 2011." Minnesota Dakotas Chapter of the Commercial Investment Real Estate Institute, St. Louis Park, Minnesota, December 09, 2010
  • "Subprime lending, mortgage foreclosures, and house price changes: An investigation of two-hundred U.S. metropolitan statistical areas" ARES - American Real Estate Society, Naples, Florida, April 01, 2010
  • "Using Economic Models to Explain, Define and Forecast the Benefits of Industrial DevelopmentUsing economic models to explain, define and forecast the benefits of industrial development" Industrial Real Estate and Economic Development Conference, Real Estate Communication Group, Golden Valley, Minnesota, November 01, 2009
  • "Mortgage lending, mortgage foreclosure and house price changes: A pilot investigation exploring relationships with community and economic characteristics by metropolitan statistical area" ARES American Real Estate Society, Monterey, California, April 01, 2009
  • "Multifamily: New and creative solutions" Midwest Commercial Real Estate Summit, Chicago, Illinois, August 01, 2007
  • "Industrial and business park outlook" Industrial Real Estate and Economic Development Conference, Real Estate Communication Group, Bloomington, Minnesota, August 01, 2007
  • "Commercial developers forecast" Minnesota Land Development Conference, Real Estate Communication Group, Bloomington, Minnesota, May 01, 2007
  • "Capital market strategies for financing condominium projects" Condominium Summit, Real Estate Communication Group, Bloomington, Minnesota, April 01, 2007
  • "Adjusting the great American dream: New home builders and developers outlook" Residential Real Estate Summit, Real Estate Communications Group, Bloomington, Minnesota, December 01, 2006
  • "The correlation of commercial/industrial development regulations with municipal composition and community attributes" ARES American Real Estate Society, Santa Fe, New Mexico, April 01, 2005
  • "Integrating Business School Curricular Resources into Real Estate Practitioner Professional Development" ARES American Real Estate Society, Captiva Island, Florida, April 01, 2004
  • "Development Impact Fees and Exactions: Evaluating Real Estate Developer Negotiation Strategies in the Determination and Settlement of Capital Facilities Charges and Community Environmental Costs" ARES American Real Estate Society, Monterey, California, April 01, 2003
  • "Effectively Negotiating Development Incentives and Exactions" National Association of Industrial and Office Properties, Nashville, Tennessee, October 01, 2002