RED 502: Real Estate Valuation, Finance and Capital Markets

This course addresses the concepts of valuation applied to real estate and teaches students how to apply these principals. Students learn how to create detailed financial models used to analyze real estate development and investment opportunities. The basic theories of real estate valuation are taught and applied including methods of valuation, decision making, risk analysis and measures of financial performance used for evaluation of opportunities. In addition, students are taught real estate capital markets, how they function, and their impact on individual real estate opportunities and how underwriting is performed.

 

RED 503: Real Estate Market Analysis

This course focuses on market analysis and market data gathering methods, means and techniques necessary in identifying market opportunities and developing specific market strategies for successful real estate development. Special attention will be placed on the art and science of market segmentation and the resultant strategies of for market positioning, competition, imitation and innovation. Students learn how market analysis applies to evaluation of opportunities, determining market demand and supply balance and predicting market movements as part of risk analysis.

RED 504: Real Estate Site Analysis, Master Planning and Design

This course teaches students how to analyze the physical characteristics of a property including the site and area physical, legal, political, economic and financial facts that impact the highest and best use of a property and what can be built upon the property. Students learn the planning and design process, its role in decision making and how developers should use the process to seek opportunity, reduce risk and achieve expected outcomes. The course teaches how to organize and manage a planning and design team for efficiency, problem solving and innovation.

RED 505: Land Use Law and Public Entitlement Process

This course teaches student the basics of US land use law, how these laws impact real estate use and development and how developers achieve necessary property rights and entitlements to allow implementation of a development proposal. This course covers general plan adoption and amendments, zoning/rezoning, subdivisions, special use permits, exactions, permits and fees. Students learn how to manage the process of identifying land use entitlements, working with jurisdictions, their staff and elected officials to secure needed rights.

RED 506: Real Estate Law for Developers

This course teaches students that aspect of US law covering federal and state statutes and local ordinances dealing with real estate, real property, property rights and interests, buying and selling real property, landlords and rental property, renters’ and tenants’ rights. It will focus on personal interests in property, such as rights of ownership, establishing property title, requirements in sales and transfers of property, real estate lending, and foreclosures and settlement of claims against property. Students will learn about purchase and sale agreements, property title, deeds, liens, escrow, purchase and sale and closings, leases, loans as well as handle disputes involving foreclosures, receiverships as well as boundary and title disputes.

RED 507: Urban Economics and Synthesis Project #1 - Residential Development

This course explores the basic principles of urban economics and their application to real estate decision making. The course addresses urban economic theory, location analysis, and the impact of location on use and land value. In addition, the course discusses what real estate developers do, how they manage the development process, the various participants and their roles in the real estate development and investment process. Students learn about due diligence and conversion of information into decision making methods. This course is the foundation for many of the other courses taught in the program. In addition, this course employs the students learning through application to a specific problem given by faculty. Students work in teams to analyze and seek solutions. Students investigate a specific parcel of land and are required to perform due diligence, prepare a market and segmentation analysis, define highest and best use(s), design a solution, prepare residual land value analysis, define a product offering, price points, building design, site planning and comparative valuation analysis.

RED 508: Real Estate Engineering and Construction

This course explores the basic principles of engineering and construction of real estate development projects. Students learn the basics of civil engineering, property survey, legal descriptions, topography, hydrology and soils. In addition, they learn about community infrastructure system planning and design of water, sewer, electric, telephone and other dry utilities. Students learn about regulatory issues and agencies, how to work with agencies for approval. In addition, students learn the construction process and related issues.

RED 598: Special Topics - Capital Markets

This course introduces students to capital markets on a macro level, with an emphasis on real estate. The course will explore the interaction of real estate space markets with the real estate capital markets. Students will gain an understanding of the current size and participants of the public and private, debt and equity, commercial real estate capital markets and will be able to define the types of real estate financed by the real estate capital markets. Students will also explore the various real estate investment strategies and define the major indices that measure public and private real estate investment returns over time. Because capital markets is a part of a financial system concerned with raising capital by through borrowings and/or investing dealing in shares, bonds, and other short and long-term investments. Real estate is a capital intensive business that necessitates investors and developers regularly securing significant amounts of debt and equity. This means investors and developers are heavily reliant on the capital market to finance their business and projects. The real estate capital market consists of public, private, individuals and institutional investors that invest money, either directly or indirectly, into real estate.

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