Program Overview

Real Estate Program

The Real Estate program offers a comprehensive curriculum that explores the importance of real estate and the built environment. The program covers various aspects of real estate, including social, environmental, and economic impacts, as well as professional practices and skill sets associated with the industry.

Course Offerings

• REAL 4000: Fundamentals of Real Estate and the Built Environment (4 Credits) This course provides an exploration of the importance of real estate and the built environment through triple bottom line analysis of its social, environmental, and economic impacts.
• REAL 4002: The Business of Real Estate (2 Credits) This course introduces students to home ownership, real estate industry, and its markets, including legal aspects of home ownership from a consumer's point of view.
• REAL 4007: Real Estate Financial Analysis (4 Credits) This course covers alternative analysis formats that can be applied to a wide array of real estate analysis issues, simulating a working/decision-making environment.
• REAL 4010: Real Estate Capital Markets (4 Credits) This course exposes students to commercial real estate capital markets, including real estate investment trusts (REITs) and commercial mortgage-backed securities (CMBS).
• REAL 4140: Global Immersion (0-4 Credits) This course covers inbound U.S. and outbound U.S. real estate topics, with a mix of cultural issues that impact real estate transactions, and requires on-campus preparation and abroad travel.
• REAL 4210: Planning, Entitlements, and Public Finance (4 Credits) This course familiarizes students with the overall context of urban planning and land use, including the project entitlement process, zoning, and land use regulation.
• REAL 4337: Securities, Syndications, and Entrepreneurship (4 Credits) This course introduces students to real estate securities, emphasizing private offerings, determining whether a contemplated transaction involves a security, and exemptions from registration.
• REAL 4347: Property and Asset Management (4 Credits) This course explores the complexities of managing apartments, condominiums, office buildings, industrial property, and shopping centers, covering rental markets, leasing techniques, and accounting.
• REAL 4357: Corporate Real Estate & Management (4 Credits) This course provides a snapshot view of the corporate real estate life cycle, covering building life cycles, sustainability, facility management, and regulatory agencies.
• REAL 4369: Real Estate Taxation (4 Credits) This course covers tax factors affecting investments and operations in real estate, including legal forms of ownership, depreciation, and tax impacts of exchanges and syndications.
• REAL 4407: Income Property Finance (4 Credits) This course explores conventional and alternative financing, mortgage banking, law, and markets, with emphasis on decision-making from the equity investor's point of view.
• REAL 4417: Income Property Valuation and Appraisal (4 Credits) This course covers residential/commercial appraising, including market cost and income approaches to value, gross rent multiplier analysis, and capitalization theory.
• REAL 4438: Legal Aspects of Real Estate and the Built Environment (4 Credits) This course helps students understand certain legal issues repeatedly encountered by real estate and construction professionals.
• REAL 4467: Development and Feasibility (4 Credits) This course covers commercial real estate development analysis and feasibility, including economic base analysis, tenant demand analysis, and financial feasibility.
• REAL 4477: Income Property Investment (4 Credits) This course provides a comprehensive analytical framework for real estate investment decision-making, emphasizing theory, concept building, and practical application.
• REAL 4701: Topics in Real Estate (0-4 Credits)
• REAL 4800: NAIOP Challenge (0-4 Credits) This course is a unique, non-traditional course where students work on a complex real estate problem, culminating in an internal competition and external competition.
• REAL 4890: Real Estate Internship (0-4 Credits) This internship allows students to apply newly learned skills and theories in the workplace, providing experiential learning beyond short-term experiences required in the classroom.
• REAL 4980: Adv Valuation/Report Writing (1-10 Credits) This course covers advanced, cutting-edge techniques in appraisal report writing, including writing skills workshops and composition of a complex field problem report.
• REAL 4991: Independent Study (1-10 Credits)

Program Requirements

Students are encouraged to expand their experiential learning beyond the short-term experiences required in the classroom. Internships that allow students to apply newly learned skills and theories in the workplace are considered an integral part of the curriculum.

Additional Information

Please note that internships must be requested via PCO at least two weeks in advance of the quarter in which the work will commence, and final PCO approval is required from the Burns School Director. No internships will be approved once the quarter begins, and internships in arrears will not be approved. Students may use a maximum of 4 Internship credits towards their REBE major degree.