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Tracks and Practicum

Real Estate Development

This builds on the knowledge and skills developed in the core and reinforces understanding of the roles and interrelationships of the main participants involved in development and management of real estate.

Requirements

Select two courses from the following: (Other business or real estate courses may be substituted with approval of the director.)

Institutional Real Estate Investment Management

Changes in the real estate industry have increased the need for individuals who have a sophisticated knowledge of finance and investment. Professionals preparing for careers as asset managers, institutional investors, investment advisers, investment bankers, mortgage brokers/ bankers, real estate security analysts, and portfolio managers should select this track.

Requirements

Select two courses from the following:

Real Estate Valuation and Appraisal

This track provides a solid background in appraisal, and the curriculum meets the body of knowledge required of the Appraisal Institute for its Member Appraisal Institute (MAI) designation. Students who complete this program will have met all the course requirements of the Appraisal Institute, except the Standards of Professional Practice and Comprehensive exams.

This track provides optional internships for students without appraisal experience. These internships have been organized so students may work for a mentor identified by the Appraisal Institute. Lengths of the internships may vary.

Requirements

Community Development

Community development differs from commercial development in its public policy implications and its more process-oriented development management approach. The Community Development track offers three courses and a practicum for individuals who want to plan, finance, build, and manage community real estate projects.

Graduates have a comprehensive knowledge base and skills appropriate for large corporate development firms or smaller-scale entrepreneurial organizations.

Requirements

Select two courses from the following:

International Real Estate

Global changes in the real estate industry have increased the need for individuals who have a sophisticated understanding of property investment, development, and management in the world economy. This track compares and contrasts international elements of the industry with the domestic model described in the core courses.

Requirements:

Select three courses from the following:

 

  • 767.716 Real Estate Regulation

    This course explores perspectives of government and business in the land development and redevelopment process. An overview of land use regulations and the effects of those regulations on a specific project are discussed as are major development controls, their evolution, implementation procedures, and role in public policy.

    Notes: This course is open only to MS in Real Estate candidates. It is offered for part-time studies during the summer session only. (3 credits)

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  • 767.651 Environmental Issues in Real Estate

    Adverse environmental conditions can impact real estate values. This course surveys the empirical evidence of value reduction. It covers the latest research in the areas of buried toxic hazardous materials, underground storage tanks, contaminated groundwater supplies, lead paint, asbestos, ‘sick building’ syndrome, and radon gas contamination. (3 credits)

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  • 767.671 Marketing Commercial Property

    A key element in the success of a real estate project is the preparation and implementation of a marketing and leasing program. This course provides an understanding of the subject matter through readings, classroom interchange, discussion, role playing, case study review, and preparation and presentation of marketing and leasing programs. (3 credits)

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  • 767.676 Corporate Real Estate

    This course examines negotiations, leasing, strategic real estate plans, financial issues, and management of corporate real estate departments. Topics include location analysis and site selection, disposition and reallocation, environmental aspects, and current issues in corporate real estate. (3 credits)

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  • 767.691 Foreign Real Estate Development

    International real estate development and investment projects outside the U.S. offer challenges beyond complex domestic projects. This course addresses a number of legal, design, cultural, and financial issues. (3 credits)

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  • 767.695 Urban Redevelopment

    This course provides an overview and assessment of the theory and practice of urban redevelopment, including a discussion of the nature and role of urban redevelopment in the management of urban change in metropolitan America, a review of the core elements of large-scale urban redevelopment, and an examination of urban redevelopment as a set of niche real estate products. It examines the context, rationale, and principles of urban redevelopment as a multifaceted process that is simultaneously comprehensive, multidisciplinary, long-term, and integrated. The course uses presentations from industry leaders and executives and group projects to help students gain insight into the business of urban redevelopment. (3 credits)

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  • 767.699 International Emerging Real Estate Markets

    This course focuses on the opportunities (and pitfalls) for real estate investment and development in international markets. Students are exposed to most of the world’s major markets where potential for profitable real estate activity currently exists. (3 credits)

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  • 767.722 Special Topics in Real Estate

    This course provides students with the opportunity to focus on a special topic in real estate. The topic varies and is based on current and relevant issues/trends faced by the real estate professional.

    Notes: This course is open only to MS in Real Estate candidates. (3 credits)

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  • 767.830 Independent Study in Real Estate

    A graduate project may be arranged individually between the student and an appropriate real estate faculty member. Project applicants should submit a request, including and outline of the proposed project, to the program director and must received written approval prior to registration.

    Notes: Note: This course is open only to MS in Real Estate students. (3 credits)

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  • 767.810 Practicum in Real Estate

    This professional seminar serves as the capstone in the general Real Estate Development track. It combines lectures, readings, and field work. Each student selects a site, ‘buys’ the site, and completes an individual project, simulating the entire development process. The student completes the design, budgeting, marketing, leasing, and financing of the project in accordance with appropriate government regulations. (4 credits)

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  • 767.797 Real Estate Capital Markets

    This course examines real estate capital markets and their implications for lenders, institutions, and owners. Students examine debt and equity financing from both the private and public sectors, as well as the flow of capital through primary and secondary markets. Students should be proficient with the use of a financial calculator and Excel or its equivalent.

    Notes: This course is open only to MS in Real Estate candidates. (3 credits)

    Prerequisite(s): BU.767.776

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  • 767.676 Corporate Real Estate

    This course examines negotiations, leasing, strategic real estate plans, financial issues, and management of corporate real estate departments. Topics include location analysis and site selection, disposition and reallocation, environmental aspects, and current issues in corporate real estate. (3 credits)

    Back to top

     

  • 767.691 Foreign Real Estate Development

    International real estate development and investment projects outside the U.S. offer challenges beyond complex domestic projects. This course addresses a number of legal, design, cultural, and financial issues. (3 credits)

    Back to top

     

  • 767.699 International Emerging Real Estate Markets

    This course focuses on the opportunities (and pitfalls) for real estate investment and development in international markets. Students are exposed to most of the world’s major markets where potential for profitable real estate activity currently exists. (3 credits)

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  • 767.786 Real Estate Portfolio Analysis

    Investment analysis, operations analysis, and leasing programs are examined to identify strategies for maximizing property performance. Asset performance forecasting is studied using property management software and Monte Carlo simulation. Multiple assets are then examined using Modern Portfolio Theory (MPT). Issues such as property type, location, and tenant economics are explored.

    Notes: This course is open only to MS in Real Estate candidates. (3 credits)

    Prerequisite(s): BU.767.777

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  • 767.796 Real Estate Portfolio Management

    Portfolio management is a well-developed science in the institutional investment world for stocks and bonds, but is still developing in real estate markets. While insurance companies have invested in real estate and debt for decades, it is only during the last 25 years that real estate has been considered by pension funds and other institutional investors. This course surveys portfolio management fundamentals and the current state of the art in real estate portfolio management. Both private debt and equity plus public debt (CMBS) and equity (REIT) investment alternatives are covered.

    Notes: This course is open only to MS in Real Estate candidates. (3 credits)

    Prerequisite(s): BU.767.776

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  • 767.837 Thesis in Real Estate Investment Management

    Designed for students completing the Investment track, the course investigates the current principles and practices in investment and asset management. Students review current literature and complete an independent research project. (4 credits)

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  • 767.716 Real Estate Regulation

    This course explores perspectives of government and business in the land development and redevelopment process. An overview of land use regulations and the effects of those regulations on a specific project are discussed as are major development controls, their evolution, implementation procedures, and role in public policy.

    Notes: This course is open only to MS in Real Estate candidates. It is offered for part-time studies during the summer session only. (3 credits)

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  • 767.685 Real Estate Valuation

    An understanding of the underlying theories, principles, and procedures for real estate appraisal is critical to determine the value of land and residential and commercial property. This course covers the appraisal process, sales, cost, discounted cash flow techniques, and some non-traditional ways of determining value. The specific focus is on the assumptions used in each model. (3 credits)

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  • 767.838 Practicum in Real Estate Valuation and Analysis

    The student completes an individual demonstration appraisal under the supervision of a faculty adviser. The course includes readings, fieldwork, and analysis. Students with no appraisal experience must take an independent study valuation internship either before or concurrent with this course. (4 credits)

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  • 767.716 Real Estate Regulation

    This course explores perspectives of government and business in the land development and redevelopment process. An overview of land use regulations and the effects of those regulations on a specific project are discussed as are major development controls, their evolution, implementation procedures, and role in public policy.

    Notes: This course is open only to MS in Real Estate candidates. It is offered for part-time studies during the summer session only. (3 credits)

    Back to top

     

  • 767.695 Urban Redevelopment

    This course provides an overview and assessment of the theory and practice of urban redevelopment, including a discussion of the nature and role of urban redevelopment in the management of urban change in metropolitan America, a review of the core elements of large-scale urban redevelopment, and an examination of urban redevelopment as a set of niche real estate products. It examines the context, rationale, and principles of urban redevelopment as a multifaceted process that is simultaneously comprehensive, multidisciplinary, long-term, and integrated. The course uses presentations from industry leaders and executives and group projects to help students gain insight into the business of urban redevelopment. (3 credits)

    Back to top

     

  • 767.820 Practicum in Community Development

    This seminar integrates all aspects of the real estate curriculum. Emphasis is placed on the organization of residential construction, feasibility analysis, design, development strategy, marketing plans, and public/private relationships. The student completes an independent community development project. (4 credits)

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  • 767.691 Foreign Real Estate Development

    International real estate development and investment projects outside the U.S. offer challenges beyond complex domestic projects. This course addresses a number of legal, design, cultural, and financial issues. (3 credits)

    Back to top

     

  • 767.699 International Emerging Real Estate Markets

    This course focuses on the opportunities (and pitfalls) for real estate investment and development in international markets. Students are exposed to most of the world’s major markets where potential for profitable real estate activity currently exists. (3 credits)

    Back to top

     

  • 767.716 Real Estate Regulation

    This course explores perspectives of government and business in the land development and redevelopment process. An overview of land use regulations and the effects of those regulations on a specific project are discussed as are major development controls, their evolution, implementation procedures, and role in public policy.

    Notes: This course is open only to MS in Real Estate candidates. It is offered for part-time studies during the summer session only. (3 credits)

    Back to top

     

  • 767.870 Thesis in International Real Estate

JHU Carey Business School students