Master's in Real Estate
On-Campus Course Schedule for Summer 2024
Asset Eval Using Argus & Excel
This course will first examine how key elements (Rents, Operating Expenses, Capital, Rollover Costs, Discount Rates are sourced and estimated for use in creating a real estate forecasting model. Simultaneously the course will then enter those same elements into the Argus A&E; software in order to arrive at an investment forecast. Plans to execute and monitor the forecast will be studied and will include purpose and formation of Leasing, Property Management and Capital plans. The common “thread” in this course is the use and mastery of the Argus A&E; software.
Note: This course meets via Zoom on the specific meeting dates listed below: Thursday, May 23 from 5:15-8:15pm and Saturday, June 1, 8, 15, and 22 from 8:30am-12:30pm.
- Course #: MPRE-6500-10
- CRN: 20076
- Instructor: Rajewski, R.
- Dates: May 20 – Jul 13, 2024
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Class Meetings:
- Sat 8:30 AM - 12:30 PM
- Thu 5:15 PM - 8:15 PM
Conflict Resolution
This course will cover approaches for managing differences between individuals and groups as seen through the lens of negotiation. Students will investigate models of negotiation decision-making. The goal of the course is to provide students with both a conceptual and practical grasp of negotiating concepts which are applicable in their professional and personal lives. Principal focus will be on interest-based negotiation with consideration given to the psychological underpinnings of difficult conversations. This approach is now taught in business schools, law schools, and school of public policy and widely taught as a better business practice to profit and non-profit groups. It has also been the basis for resolving violent conflicts. Students will explore, through role exercises, two and multi-party negotiations. The focus will be both on the importance of substance and procedural considerations in complex negotiation. The conceptual framework is applicable in real estate negotiations as well as in other public policy and personal settings. Please Note: This course is based upon experiential learning. Thus a substantial amount of personal learning is accomplished through participation in and critique of class negotiation exercises. The value of the exercise is often dependent on the participation of your fellow students. Therefore, students should make every effort to attend all classes.
Note: This course meets synchronously through Zoom at the day and time listed.
- Course #: MPRE-7870-21
- CRN: 20143
- Instructor: Hill, Q.
- Dates: Jun 24 – Aug 17, 2024
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Class Meetings:
- Wed 5:15 PM - 8:15 PM
Conflict Resolution
This course will cover approaches for managing differences between individuals and groups as seen through the lens of negotiation. Students will investigate models of negotiation decision-making. The goal of the course is to provide students with both a conceptual and practical grasp of negotiating concepts which are applicable in their professional and personal lives. Principal focus will be on interest-based negotiation with consideration given to the psychological underpinnings of difficult conversations. This approach is now taught in business schools, law schools, and school of public policy and widely taught as a better business practice to profit and non-profit groups. It has also been the basis for resolving violent conflicts. Students will explore, through role exercises, two and multi-party negotiations. The focus will be both on the importance of substance and procedural considerations in complex negotiation. The conceptual framework is applicable in real estate negotiations as well as in other public policy and personal settings. Please Note: This course is based upon experiential learning. Thus a substantial amount of personal learning is accomplished through participation in and critique of class negotiation exercises. The value of the exercise is often dependent on the participation of your fellow students. Therefore, students should make every effort to attend all classes.
Note: This courses meets in person at the day and time listed.
- Course #: MPRE-7870-20
- CRN: 19496
- Instructor: Hill, Q.
- Dates: Jun 24 – Aug 17, 2024
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Class Meetings:
- Wed 5:15 PM - 8:15 PM
Found of Real Estate Accting
Foundations of Real Estate Accounting provides a graduate level introduction to real estate accounting, taxation concepts and equity incentives utilizing various tax credit and incentive programs. Topics include GAAP financial statements for real estate companies, financial analysis, fair value and impairment analysis, consolidation, joint venture accounting, Low Income Housing Tax Credits, Historic Tax Credits, New Markets Tax Credits, Energy Tax Credits, internal controls for real estate companies, and understanding operating and partnership agreements. Taxation topics include partnership tax concepts and tax-free exchanges. This course is designed to give you maximum exposure to the leaders in the real estate accounting industry. As a result, some sessions of this course will be taught by various real estate professionals. The objective of this course is to provide you with an understanding of the current financial accounting and taxation issues likely to be encountered in the real estate sector. At the end of this course, you will be able to analyze GAAP prepared accounting statements and identify potential financial and tax issues. Regular attendance is vital. Be sure to keep pace with the assigned work and class discussions. This course covers many different areas of accounting for real estate transactions. If you are not familiar with the subject area or do not understand the assigned material, please ask for clarification or assistance. Do not wait until the end of the course to obtain help. At the end of the course, students should: • Understand the principles and rules of real estate accounting • Be familiar with the accounting standards and pronouncements related to real estate accounting • Understand the principles for the capitalization of pre-acquisition costs • Be familiar with the costs incurred to sell or rent a real estate project and the accounting rules associated with those costs •Be familiar with the valuation process of real estate and how to account for acquisitions of real estate • Understand the principles of non-monetary exchanges of real estate; particularly the basic principles of section 1031: like-kind exchanges • Understand the process underlying a sale of real estate and the different accounting methods associated with profit recognition • Be familiar with other applicable methods for recording a sale of real estate • Understand the principles of a lease and be able to identify the key characteristics of and differences between a capital lease and an operating lease • Understand the accounting methods used by both the lessee and lessor • Understand the differences between the four methods of accounting for interests in real estate ventures: consolidation, equity method of accounting, pro rata consolidation, and the cost method • Understand what a variable and non-variable interest entity are and how to account for them • Be familiar with time-sharing transactions
Note: This course meets synchronously through Zoom at the day and time listed.
- Course #: MPRE-5400-40
- CRN: 19988
- Instructor: Dalkin, J.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Tue 5:15 PM - 8:15 PM
Found of Real Estate Finance
This introductory course provides students with the technical skills and business concepts of real estate finance. Mastering the basic and advanced concepts of real estate finance is essential to understanding other courses in the MPS curriculum, and to success in the real estate industry. Topics covered will include time value of money, discounted cash flow analysis, and investment returns. Through a case study format using an actual real estate investment as a guide, students will prepare a property-level pro forma to report both an unleveraged and leveraged returns analysis. In addition, the concepts of debt and equity (via a joint venture) will be included in the case study. The intended learning outcomes include a working financial model that students can use for future courses in the program. The primary text is Real Estate Finance & Investments: William B. Brueggeman and Jeffrey D. Fisher 15th edition; additional readings will supplement the book. Students will perform individual and group case study assignments to reinforce the intended learning outcomes.
Note: This course meets synchronously through Zoom at the day and time listed.
- Course #: MPRE-5500-40
- CRN: 19986
- Instructor: Wood, B.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Thu 5:15 PM - 8:15 PM
Found of Real Estate Markets
This course will focus on how real estate practitioners analyze information to make informed market decisions. The class will cover a broad range of real estate disciplines from single-family and multifamily residential, retail, office, hospitality, and industrial, and introduce the perspectives of developers/builders, investors, lenders, landlords, tenants, planners, public officials, and end users/consumers. The class will offer a mix of theory, analytic tools, and practical experiences/real-life examples. The goal is a highly interactive class environment in which the students play an essential role in the education process. Active participation in class discussions is expected of every student and a key component of participant performance. The class is built around a final case study project that will consist of a case study report and presentation. This final project and presentation will build upon the work completed throughout the semester, including assignments given throughout the semester. The final presentation and report will be due on the final exam date (not the last day of class). Working in a team environment is a critical aspect of future success in the real estate environment. The class will be broken into smaller groups of 4-6 participants, depending on class size, which will act as your final project teams. Project teams will be expected to work with their project team outside of class time.
Note: This course meets in person at the day and time listed.
- Course #: MPRE-5200-40
- CRN: 20016
- Instructor: Beasley, C.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Wed 5:15 PM - 8:15 PM
Multifamily&Affordable; Housing
This course provides you with an overview of the housing segment, predominantly multifamily rental, within the real estate industry. Both market-rate developments/properties and low-income/affordable developments/properties will be discussed. Topics covered will include market and demand analysis and their impact on product and product characteristics such as unit mix, size and amenities, construction, and development sequencing. How product influences design, construction, financing/capital stack, and ownership structure. Also discussed will be low-income/affordable housing, regulations governing the operations of low-income housing, alternative financing and sources, and property operations. Students will perform individual and group case study assignments, and guest speakers will complement traditional lectures.
Note: This course meets in person at the day and time listed.
- Course #: MPRE-7140-40
- CRN: 20017
- Instructor: Kiang, L.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Tue 5:15 PM - 8:15 PM
Negotiations
Overview: This course will cover approaches for managing differences between individuals and groups as seen through the lens of negotiation. Students will investigate models of negotiation decision-making. The goal of the course is to provide students with both a conceptual and practical grasp of negotiating concepts that are applicable in their professional and personal lives. The principal focus will be on interest-based negotiation with consideration given to the psychological underpinnings of difficult conversations. This approach is now taught in business schools, law schools, and schools of public policy and is widely taught as a better business practice to profit and non-profit groups. It has also been the basis for resolving violent conflicts. Students will explore, through role exercises, two and multi-party negotiations. The focus will be both on the importance of substance and procedural considerations in complex negotiation. The conceptual framework is applicable in real estate negotiations as well as in other public policy and personal settings. Please Note: This course is based on experiential learning. Thus a substantial amount of personal learning is accomplished through participation in and critique of class negotiation exercises. The value of the exercise is often dependent on the participation of your fellow students. Therefore, students should make every effort to attend all classes.
Note: This course meets synchronously through Zoom at the day and time listed.
- Course #: MPRE-7860-11
- CRN: 20144
- Instructor: Hill, Q.
- Dates: May 20 – Jul 13, 2024
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Class Meetings:
- Tue 5:15 PM - 8:15 PM
Negotiations
Overview: This course will cover approaches for managing differences between individuals and groups as seen through the lens of negotiation. Students will investigate models of negotiation decision-making. The goal of the course is to provide students with both a conceptual and practical grasp of negotiating concepts that are applicable in their professional and personal lives. The principal focus will be on interest-based negotiation with consideration given to the psychological underpinnings of difficult conversations. This approach is now taught in business schools, law schools, and schools of public policy and is widely taught as a better business practice to profit and non-profit groups. It has also been the basis for resolving violent conflicts. Students will explore, through role exercises, two and multi-party negotiations. The focus will be both on the importance of substance and procedural considerations in complex negotiation. The conceptual framework is applicable in real estate negotiations as well as in other public policy and personal settings. Please Note: This course is based on experiential learning. Thus a substantial amount of personal learning is accomplished through participation in and critique of class negotiation exercises. The value of the exercise is often dependent on the participation of your fellow students. Therefore, students should make every effort to attend all classes.
Note: This course meets in person at the day and time listed.
- Course #: MPRE-7860-10
- CRN: 20019
- Instructor: Hill, Q.
- Dates: May 20 – Jul 13, 2024
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Class Meetings:
- Tue 5:15 PM - 8:15 PM
Real Estate Capstone
The required Capstone Course marks the culmination of a student’s career in the Master of Professional Studies in Real Estate program, and the student’s transition from journeyman to advanced real estate professional. The Capstone Course offers the student the opportunity to explore a major real estate topic in significant depth and make a substantial contribution to knowledge in a selected sector of the real estate profession. Based upon previous courses and professional experience, the student formulates a Capstone Project topic. Under the tutelage of a senior real estate professional from Metropolitan Washington or beyond, the student researches the chosen topic, participates in any appropriate activities related to the topic, and produces a substantial work which constitutes a significant contribution to real estate knowledge. Because MPS/RE encompasses institutional, financial, legal, marketing, accounting, environmental, planning, design, engineering, and other disciplines, it is impossible to specify a single genre of Capstone Project, and the Capstone Project is thus defined chiefly by quality. With the fullest support of the entire MPS/RE program, the student has maximum freedom to pursue a real estate topic that embodies the very essence of the student’s professionalism, and should be one of the best pieces of work the student ever does. In addition to other requirements, students must earn a grade of "B" or higher in the Capstone course to qualify for graduation.
Note: This course meets in person at the day and time listed. This course is a core requirement of the degree and requires a grade of "B" or better for successful completion.
- Course #: MPRE-7990-40
- CRN: 20020
- Instructor: Cristiano, R.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Mon 5:15 PM - 8:15 PM
Real Estate Fundamentals
This course concentrates on the fundamental details of income producing Commercial Real Estate in basic detail, focusing on the tools and processes required to make property evaluations and transaction decisions. It is intended to provide foundation level students with the real estate skills necessary to effectively keep pace and learn in elective courses, and to be effective real estate practitioners as program graduates. Topics which will be addressed in this course will include: cash flow and P&L; deal analysis in Excel and with the HP 12c, site selection, location strategy and land value, financing alternatives and leverage, entitlements and the development process, negotiation, transaction management and decision making, disposition, consolidation, re-positioning and financial restructuring, brokerage and leasing, plus the following concepts and techniques which support these topics: Absorption Inventory Vacancy Occupancy Availability Shadow Space Return Balance Sheet Income Statement Cash Flows DCS DCF IRR PV / NPV FV NOI OP-Ex Cap-Ex Cap Rate Discount Rate Lending Rate D/E Ratio Coverage LTV Debt Service Loan Const. Yield Multiple ROA ROI Margin USF/RSF/GA Coverage R FAR Residual Exit Strategy Expense Stop Base Year Gross Lease Net Lease IG Lease Ground Lease Rent Roll Stabilization Draw Retainage Take-out Commissioning Site Selection Due Diligence Percentage Rent Breakpoint Radius Limits Use Restriction. The course will focus on exploring these concepts and techniques, with field examples and a negotiation exercise to illustrate abstractions; so they can be put into practice. Course topics are sequenced according to an owner/investor viewpoint property (Portfolio Management) lifecycle to generate a real estate development and investment fabric. The class focuses on the capabilities necessary to be fundamentally effective in an income producing, commercial real estate business. Discussion will focus on office properties, however, residential, industrial and retail properties, and differences in their deal process will be referenced as well.
Note: This course meets in person at the day and time listed.
- Course #: MPRE-5100-40
- CRN: 20015
- Instructor: Lambinicio, G.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Wed 5:15 PM - 8:15 PM
Real Estate Investment Trusts
This course is dedicated to gaining a comprehensive knowledge of both the structure of public REITs and the market for them. A public REIT is a fully- integrated operating real estate company yet differs in many ways from the private sector structure. The public REIT’s access to capital, both debt and equity, is profound especially in relation to the private sector model. We will explore these differences and much more throughout the semester.
Note: This course meets in person at the day and time listed.
- Course #: MPRE-7170-40
- CRN: 20018
- Instructor: Morris, J.
- Dates: May 20 – Aug 17, 2024
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Class Meetings:
- Thu 5:15 PM - 8:15 PM