Course Schedule for Spring 2020


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MPRE-712-01

Alternative Assets

We are all familiar with the traditional real estate asset classes – commercial, multi-family, retail, industrial. BORRR-ING!!! But what about those overlooked asset classes? Those “secret fishing holes” that institutional investors are only recently beginning to notice and realize that there’s “gold in them thar alternative sectors” (to mix metaphors)?! These are the new Income producing properties and they include seniors housing, student housing, specialty retail, self-storage, boutique apartment buildings and cell tower real estate. These Alternative Assets will be studied as individual investments and as part of a larger real estate portfolio. Disciplines that are germane to all asset classes, including due diligence, development and contract law, will be discussed and examined. For individual properties, long-term decisions regarding capital expenditures, refinancing, conversion and disposition, along with day-to-day decisions regarding leasing and marketing are exposed. Strategic decisions regarding the financing structure and capital expenditure programs (“capex”) of an investor’s real asset portfolio are also addressed. Institutional investors including private equity, hedge funds, endowments, insurance companies and pension funds will also be vetted. Throughout the course, renowned business school case studies will be taught and guest speakers that are professionals in these various industry segments will offer insight and share real life experiences. By the end of this course, the student will be able to determine the monetary value of any and all income producing properties for the benefit of the institutional investor. This will be accomplished after comparing and contrasting asset management strategies, increased valuation techniques (opportunistic investing and capex) and understanding ALL of the factors that go into determining cap rates.

Note: Prerequisites: MPRE 621

  • Course #: MPRE-712-01
  • CRN: 32546
  • Format: On-campus
  • Instructor: Stewart, S.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-760-10   Canceled

Construction Estimating & Procurement

Course Description: The goal of the course is to provide students with an in-depth understanding of how to prepare a basic line item budget for a development project. This will strengthen skills students can apply to their Capstone projects. The course will cover pre-construction analysis of basic site planning and design to maximize efficiencies for gross building area, parking and net rentable areas. [Visibility, accessibility, green space, stormwater management and solar opportunities will also be discussed and considered]. Course Objectives: Upon completion of the course, students should be able to evaluate the maximum buildable area for a site and calculate the basic construction costs for different options on the mix of uses including parking and amenities that could be accommodated on a given site. Having completed this analysis, students should be able to determine the best option from a construction standpoint for the most efficient type(s) of construction that would create the greatest potential value.

  • Course #: MPRE-760-10
  • CRN: 38690
  • Format: On-campus
  • Instructor: O'Malley, M.
  • Dates: Jan 08 – Mar 02, 2020
  • Class Meetings:
    • Thu 5:20 PM - 7:50 PM

MPRE-600-01

Deal Lab

Course Description: “Deal Lab: Articulating Risk Within The Real Estate Enterprise” (“Deal Lab”) is an engaging and academically demanding course in which students learn to connect themes across the many multi-disciplinary components of the commercial real estate enterprise (including acquisition, development, finance, leasing and related ownership matters) in a realistic real estate development context. From a first-person perspective, students experience the challenging issues, complex trade-offs and deliberate risk taking calculations involved in tailoring realistic solutions to common problems found in commercial real estate development projects. Through Deal Lab, students develop the skill sets of identifying probable risks associated with managing a real estate project and articulating practical and legally relevant solutions to such risks. The goal of Deal Lab is to create a more sophisticated level of awareness by the students of the practical utility of the legal tools introduced in the Foundations of Real Estate Law curriculum and the financial analysis tools introduced in the Foundations of Real Estate Finance. Deal Lab expands students’ theoretical and academic understanding of legal principles to promote an ability to effectively use legal implements in the context of contract negotiation and litigation to deliver practical outcomes responsive to the demands of the development team and process.

  • Course #: MPRE-600-01
  • CRN: 33841
  • Format: On-campus
  • Instructor: Grindall, B.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-702-201

Development and Construction Project Management

This course helps students master the art and science of managing projects for development and construction. Taking the project from inception to an on time, under-budget closeout, the tools and techniques for successfully leading an eclectic group of consultants and subcontractors, managing budgets, conflicts and schedules are studied in detail. Going far beyond the secrets of successful scheduling, this course adapts the best practices of managing large projects from the infrastructure, IT, and heavy industrial manufacturing industries, and applies them to real estate development and construction projects. Upon successful completion of this course, students will know the industry best practices for creation and management of the project team, document management and recordkeeping, scheduling, cost control and value engineering, procurement research and negotiations, subcontract management and administration. Students will also be able to apply effective techniques for managing a construction or development project within the framework of construction law, AIA contracts and subcontracts, and ethical business practices.

Note: This course meets online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-702-201
  • CRN: 31949
  • Format: Online
  • Instructor: Voglmayr, K.
  • Dates: Mar 04 – May 04, 2020

MPRE-702-101

Development and Construction Project Management

This course helps students master the art and science of managing projects for development and construction. Taking the project from inception to an on time, under-budget closeout, the tools and techniques for successfully leading an eclectic group of consultants and subcontractors, managing budgets, conflicts and schedules are studied in detail. Going far beyond the secrets of successful scheduling, this course adapts the best practices of managing large projects from the infrastructure, IT, and heavy industrial manufacturing industries, and applies them to real estate development and construction projects. Upon successful completion of this course, students will know the industry best practices for creation and management of the project team, document management and recordkeeping, scheduling, cost control and value engineering, procurement research and negotiations, subcontract management and administration. Students will also be able to apply effective techniques for managing a construction or development project within the framework of construction law, AIA contracts and subcontracts, and ethical business practices.

Note: This course meets online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-702-101
  • CRN: 31948
  • Format: Online
  • Instructor: Voglmayr, K.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-650-01   Canceled

Emerging Markets

Efficient and transparent property markets are supported by an extensive network of institutions. This course will examine the development cycle of property markets from frontier markets just exiting crisis to developed markets that enjoy political and monetary stability. The main focus of the course will be current emerging markets that represent potential higher returns for opportunistic investors. The International Property Market Scorecard methodology will be used to examine the development of both public and private institutions necessary for a country to progress along the road to property market improvement and increased direct foreign investment. The highlight of the course will be attendance of the World Bank Annual Conference on Land & Poverty from March 16-20, 2020: https://www.worldbank.org/en/events/2020/03/16/land-and-poverty-conference-2020-institutions-for-equity-and-resilience In addition to standard tuition, students must register for the World Bank conference through the link above - $250 October 1- December 13, $400 after.

  • Course #: MPRE-650-01
  • CRN: 38689
  • Format: On-campus
  • Instructor: Endsley, W.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-500-201

Ethics in Action

This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

Note: This course meets online. Core course requirement for Real Estate students. Should be taken in the first two semesters. Minimum grade of "B" required to pass course.


MPRE-500-103

Ethics in Action

This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

Note: This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

  • Course #: MPRE-500-103
  • CRN: 39495
  • Format: Online
  • Instructor: Williamson, G.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-500-101

Ethics in Action

This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

Note: This course meets online. Core course requirement for Real Estate students. Should be taken in first two semesters. Minimum grade of "B" required to pass course.

  • Course #: MPRE-500-101
  • CRN: 30405
  • Format: Online
  • Instructor: Davitian, D.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-500-102

Ethics in Action

This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

Note: This course meets online. Core course requirement for Real Estate students. Should be taken in first two semesters. Minimum grade of "B" required to pass course.


MPRE-500-01

Ethics in Action

This course provides an introduction to multiple ethical choices that any real estate leader will encounter throughout his or her career. We will use readings, case studies and extensive class discussion to help students build an ethical framework for setting priorities and making good decisions, under pressure, from among imperfect alternatives. We will address confidentiality, marketing and disclosure, integrity of data, value of a reputation, fiduciary responsibility for “other people’s money” and management of potential conflicts of interest among investors, lenders, project managers, brokers and contractors. The course explores how to balance corporate responsibility in areas of economic development and environmental sustainability with the practical need to create shared value for a project’s owners and its surrounding communities. We will examine ethics in design and construction, and explore complexities that arise from working in multi-cultural and international real estate environments. Finally, we will look at how to ethically manage workouts and foreclosures based on personal experience during times of crisis such as the US financial crisis of 2008 and the Russian financial crisis of 1998. A minimum grade of "B" (3.00) or better is required in this core course for graduation.

Note: Core course requirement. Should be taken in first two semesters. Minimum grade of "B" required to pass course.

  • Course #: MPRE-500-01
  • CRN: 16414
  • Format: On-campus
  • Instructor: Williamson, G.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-641-201

Foundations of Real Estate Accounting

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 preacquisition 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 ti

Note: This course meets online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-641-201
  • CRN: 30366
  • Format: Online
  • Instructor: Rudd, M.
  • Dates: Mar 04 – May 04, 2020

MPRE-641-01

Foundations of Real Estate Accounting

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 preacquisition 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 ti

Note: 150 minute distance learning component required. Foundation course for the Real Estate major.

  • Course #: MPRE-641-01
  • CRN: 18706
  • Format: On-campus
  • Instructor: Dalkin, J.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-641-101

Foundations of Real Estate Accounting

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 preacquisition 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 ti

Note: This course meets online. Core course requirement for Real Estate students.

  • Course #: MPRE-641-101
  • CRN: 30412
  • Format: Online
  • Instructor: Dalkin, J.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-641-102

Foundations of Real Estate Accounting

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 preacquisition 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 ti

Note: This course meets online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-641-102
  • CRN: 30413
  • Format: Online
  • Instructor: Motlagh, J.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-621-201

Foundations 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 a 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-621-201
  • CRN: 30411
  • Format: Online
  • Instructor: Hunter, M.
  • Dates: Mar 04 – May 04, 2020

MPRE-621-02

Foundations 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 a 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: Foundation course for the Real Estate major.

  • Course #: MPRE-621-02
  • CRN: 31947
  • Format: On-campus
  • Instructor: Kelso, A.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-621-01

Foundations 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 a 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: Foundation course for the Real Estate major.

  • Course #: MPRE-621-01
  • CRN: 23220
  • Format: On-campus
  • Instructor: Wilk, D.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-621-101

Foundations 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 a 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-621-101
  • CRN: 30410
  • Format: Online
  • Instructor: Cardman, T.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-621-202

Foundations 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 a 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-621-202
  • CRN: 30363
  • Format: Online
  • Instructor: Rajewski, R.
  • Dates: Mar 04 – May 04, 2020

MPRE-631-202

Foundations 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.

  • Course #: MPRE-631-202
  • CRN: 39497
  • Format: Online
  • Instructor: Charles, L.
  • Dates: Mar 04 – May 04, 2020

MPRE-631-101

Foundations 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-631-101
  • CRN: 30364
  • Format: Online
  • Instructor: Arnold, H.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-631-201

Foundations 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-631-201
  • CRN: 30365
  • Format: Online
  • Instructor: Bellas, D.
  • Dates: Mar 04 – May 04, 2020

MPRE-631-102

Foundations 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 online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-631-102
  • CRN: 33057
  • Format: Online
  • Instructor: Franceski, M.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-631-02

Foundations 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: Foundation course for the Real Estate program.

  • Course #: MPRE-631-02
  • CRN: 18703
  • Format: On-campus
  • Instructor: Bellas, D.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-601-102

Foundations of Real Estate Law

The Foundations of Real Estate Law course will introduce students to substantive legal issues associated with commercial real estate acquisition, development, finance, leasing and related corporate governance matters. The course explores a practical understanding of legal principles from the perspective of real estate developers, construction companies, lenders, owners and investors while focusing on the following objectives: • Principles, Mechanisms and Conventions: The course will provide an overview of legal principles associated with real estate activities (the “What”), mechanisms by which the various legal principles may be implemented (the “How”) and conventions concerning the practical application of legal principles (the “Why”). • Issue Spotting: Students will develop an understanding of common legal themes that confront real estate professionals sufficient to enable them to identify and analyze critical issues before engaging the necessary legal or other real estate professionals necessary to tailor the final arrangements necessary to address the legal issues at hand. • Correlating Legal Risks: The course will promote a constructive approach to correlating legal risks within the prototypical legal enterprise – connecting possible and probable risks among a variety of real estate activities such as buying, selling, developing, financing and leasing associated with a variety of real estate products such as office buildings, shopping centers, residential buildings, hotels, industrial buildings and mixed-use projects.

Note: This course meets online. Foundation course for the Real Estate major.

  • Course #: MPRE-601-102
  • CRN: 30362
  • Format: Online
  • Instructor: Tibbs, E.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-601-201

Foundations of Real Estate Law

The Foundations of Real Estate Law course will introduce students to substantive legal issues associated with commercial real estate acquisition, development, finance, leasing and related corporate governance matters. The course explores a practical understanding of legal principles from the perspective of real estate developers, construction companies, lenders, owners and investors while focusing on the following objectives: • Principles, Mechanisms and Conventions: The course will provide an overview of legal principles associated with real estate activities (the “What”), mechanisms by which the various legal principles may be implemented (the “How”) and conventions concerning the practical application of legal principles (the “Why”). • Issue Spotting: Students will develop an understanding of common legal themes that confront real estate professionals sufficient to enable them to identify and analyze critical issues before engaging the necessary legal or other real estate professionals necessary to tailor the final arrangements necessary to address the legal issues at hand. • Correlating Legal Risks: The course will promote a constructive approach to correlating legal risks within the prototypical legal enterprise – connecting possible and probable risks among a variety of real estate activities such as buying, selling, developing, financing and leasing associated with a variety of real estate products such as office buildings, shopping centers, residential buildings, hotels, industrial buildings and mixed-use projects.

Note: This course meets online. Foundation course for the Real Estate major.

  • Course #: MPRE-601-201
  • CRN: 30408
  • Format: Online
  • Instructor: Tibbs, E.
  • Dates: Mar 04 – May 04, 2020

MPRE-601-101

Foundations of Real Estate Law

The Foundations of Real Estate Law course will introduce students to substantive legal issues associated with commercial real estate acquisition, development, finance, leasing and related corporate governance matters. The course explores a practical understanding of legal principles from the perspective of real estate developers, construction companies, lenders, owners and investors while focusing on the following objectives: • Principles, Mechanisms and Conventions: The course will provide an overview of legal principles associated with real estate activities (the “What”), mechanisms by which the various legal principles may be implemented (the “How”) and conventions concerning the practical application of legal principles (the “Why”). • Issue Spotting: Students will develop an understanding of common legal themes that confront real estate professionals sufficient to enable them to identify and analyze critical issues before engaging the necessary legal or other real estate professionals necessary to tailor the final arrangements necessary to address the legal issues at hand. • Correlating Legal Risks: The course will promote a constructive approach to correlating legal risks within the prototypical legal enterprise – connecting possible and probable risks among a variety of real estate activities such as buying, selling, developing, financing and leasing associated with a variety of real estate products such as office buildings, shopping centers, residential buildings, hotels, industrial buildings and mixed-use projects.

Note: This course meets online. Foundation course for the Real Estate major.

  • Course #: MPRE-601-101
  • CRN: 30361
  • Format: Online
  • Instructor: Pao, R.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-601-01

Foundations of Real Estate Law

The Foundations of Real Estate Law course will introduce students to substantive legal issues associated with commercial real estate acquisition, development, finance, leasing and related corporate governance matters. The course explores a practical understanding of legal principles from the perspective of real estate developers, construction companies, lenders, owners and investors while focusing on the following objectives: • Principles, Mechanisms and Conventions: The course will provide an overview of legal principles associated with real estate activities (the “What”), mechanisms by which the various legal principles may be implemented (the “How”) and conventions concerning the practical application of legal principles (the “Why”). • Issue Spotting: Students will develop an understanding of common legal themes that confront real estate professionals sufficient to enable them to identify and analyze critical issues before engaging the necessary legal or other real estate professionals necessary to tailor the final arrangements necessary to address the legal issues at hand. • Correlating Legal Risks: The course will promote a constructive approach to correlating legal risks within the prototypical legal enterprise – connecting possible and probable risks among a variety of real estate activities such as buying, selling, developing, financing and leasing associated with a variety of real estate products such as office buildings, shopping centers, residential buildings, hotels, industrial buildings and mixed-use projects.

Note: Foundation course for the Real Estate program.

  • Course #: MPRE-601-01
  • CRN: 18704
  • Format: On-campus
  • Instructor: Grindall, B.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-774-01

Global Real Estate Transactions

In today’s real estate environment, real estate has become global. This class looks at who are the foreign investors, buying real estate in the United States and why? Also what is the rationale for US investors, buying overseas and what are the advantages and disadvantages? The course will bring in both of these groups of investors, who will present their rationale. They will present how they started off, which countries they went to and their experience through the investment cycle. The class will learn about diversification and how best to look at exit strategies, so as to protect their investments in sometimes challenging environments. There will be as many as three speakers each week summarizing their respective strategies. Washington DC has become one of the most favored locations for foreign investors and this class explains why. Students are encouraged to question the speakers on their legal and financial constraints and also the timing for buying, holding and selling their properties and has buying overseas enhanced the value of their investors’ holdings.

  • Course #: MPRE-774-01
  • CRN: 33060
  • Format: On-campus
  • Instructor: Josephs, J.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-775-201

Impact of Globalization on Real Estate

This course will introduce students to international real estate investment. Students will learn how to work with foreign investors in the United States, as well as gain a clear understanding of the motivations and cultural differences encountered by US investors investing overseas. The world of real estate investing is undergoing profound changes. Today 50% of all real estate transactions are cross-border. We will examine both the causes for these changes and their impact on the global economy. The course will be taught by real estate practitioners with extensive experience in global real estate fund management in major developed markets for institutional investors. Students will also explore how to evaluate emerging markets for opportunistic investors. Course Objectives * Recognize important differences between property markets in different countries. * Analyze the drivers of global capital flows and their impact on real estate. * Determine how global research can convert data into actionable information for decision making. * Analyze property market systems to suggest improvements for transparency, risk pricing and portfolio diversification. * Apply tested methodologies to perform an analysis for a developed or an emerging international market.

Note: This course meets online. Foundation course requirement for Real Estate students. Prerequisite: MPRE 621

  • Course #: MPRE-775-201
  • CRN: 31954
  • Format: Online
  • Instructor: Georg, D.
  • Dates: Mar 04 – May 04, 2020

MPRE-775-101

Impact of Globalization on Real Estate

This course will introduce students to international real estate investment. Students will learn how to work with foreign investors in the United States, as well as gain a clear understanding of the motivations and cultural differences encountered by US investors investing overseas. The world of real estate investing is undergoing profound changes. Today 50% of all real estate transactions are cross-border. We will examine both the causes for these changes and their impact on the global economy. The course will be taught by real estate practitioners with extensive experience in global real estate fund management in major developed markets for institutional investors. Students will also explore how to evaluate emerging markets for opportunistic investors. Course Objectives * Recognize important differences between property markets in different countries. * Analyze the drivers of global capital flows and their impact on real estate. * Determine how global research can convert data into actionable information for decision making. * Analyze property market systems to suggest improvements for transparency, risk pricing and portfolio diversification. * Apply tested methodologies to perform an analysis for a developed or an emerging international market.

Note: This course meets online. Foundation course requirements for Real Estate students. Prerequisite: MPRE 621

  • Course #: MPRE-775-101
  • CRN: 31953
  • Format: Online
  • Instructor: Casqueiro, E.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-606-01   Canceled

Internships in Real Estate

This Real Estate Internship class is designated to maximize the students experience and examine the potential opportunities and information to be derived from their internship. The course is designed to guide the students through academic discussion and application. Assignments will be geared to enhance the intern’s Real Estate knowledge with an emphasis on relevance and utilization. Text/Bibliography: Course will be supplemented by relevant articles obtains from periodicals, internet websites, trade publications and real estate professionals. Schedule of meetings with student: -Weekly 1 hour meetings or phone conferences. -Five 2 hour consultations with representatives of selective case study and staff representatives of an organization. Assignments/Nature of Research: Identify the scope of the internship than produce weekly e-journals to be discussed in required independent study conferences. Produce a resume incorporating internship experience. Exams/Papers: -Midterm – presentation describing the content of their internship. -Final Presentation – Overview of the internship detailing obtained knowledge, benefits and application towards a real estate career. A presentation to the class utilizing power point demonstrating an overview of the internship experience and acquired knowledge of the real estate industry.

  • Course #: MPRE-606-01
  • CRN: 36488
  • Format: On-campus
  • Instructor: TBD
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-710-10

Leasing

This course will give students a broad overview of leases and their importance to commercial real estate. We will discuss the various roles that leases play in commercial real estate, and the differences and similarities between different types of leases. Students will learn to parse out the true and complete economic terms of a lease transaction in a manner that permits meaningful comparisons. We will review the various elements of commercial leases, placing particular emphasis on construction, pass-through of expenses, flexibility and exit strategies, options, and the effect of the current economic situation. Throughout, we will discuss the roles and motivations of the various players, and how competing interests reach agreement. Finally, through one or more guest speakers, we will hear how leases are interpreted in the real world on a day-to-day basis. Course Objectives: Provide an understanding of leases as the economic underpinning of commercial real estate, impart a working knowledge of a broad array of lease types, teach students to analyze the full economic impact of a lease in a manner that facilitates comparisons across leases, and give students a full working knowledge of the key components of commercial leases and how they fit together, explore the motivations, similar and dissimilar, of the parties (landlord, tenant, lender) and the usual compromise positions. Students will leave the course with the ability to read a commercial lease and understand and extract its key terms, and with an understanding of how those terms are put into practice.

  • Course #: MPRE-710-10
  • CRN: 26999
  • Format: On-campus
  • Instructor: Hetchkop, M.
  • Dates: Jan 08 – Mar 02, 2020
  • Class Meetings:

MPRE-714-201

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, ownership structure. Also discussed will be low income/affordable housing, regulations governing 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 online. Prerequisite: MPRE 621

  • Course #: MPRE-714-201
  • CRN: 36388
  • Format: Online
  • Instructor: Kiang, L.
  • Dates: Mar 04 – May 04, 2020

MPRE-714-101

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, ownership structure. Also discussed will be low income/affordable housing, regulations governing 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 online. Prerequisite: MPRE 621

  • Course #: MPRE-714-101
  • CRN: 33842
  • Format: Online
  • Instructor: Kiang, L.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-802-20   Canceled

Negotiation

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 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 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. 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.

  • Course #: MPRE-802-20
  • CRN: 38691
  • Format: On-campus
  • Instructor: TBD
  • Dates: Mar 04 – May 04, 2020
  • Class Meetings:

MPRE-728-01

Real Estate Private Equity

The Real Estate Private Equity course will introduce the broad universe of privately held, non-traded equity vehicles that invest in commercial real estate. Private equity real estate is a term used in investment finance to refer to a specific subset of the real estate investment asset class. Private equity real estate refers to one of the four quadrants of the real estate capital markets, which include private equity, private debt, public equity and public debt. Students will learn about the different types of private equity investment vehicles, their investment structure and capitalization, their required return and underwriting requirements, as well as the execution of investment business plans. The class will be taught through a heavy reliance on case studies where students will play the role of either an entrepreneur or an investment professional and evaluate the viability of investments through market analysis, development of acquisition pro forma and discounted cash flows, obtain and structure debt, structure equity investments from different investor perspectives and evaluate equity returns and waterfalls. Students should be comfortable and competent in computing and analyzing discounted cash flows, net present values, internal rates of return, acquisition and disposition sensitivity analyses, equity multiples, cash-on-cash returns and waterfall structures. The class structure will include lectures, back-of-the-envelope case studies, in-depth case studies, class discussion (participation required), readings, and guest speakers. Students will analyze actual, past and present investment and development opportunities.

Note: Prerequisite: MPRE 621

  • Course #: MPRE-728-01
  • CRN: 36489
  • Format: On-campus
  • Instructor: Crossley, M.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-732-01

Real Estate Economics

This course applies economic analysis to the study of urban real estate markets. The goal of the course is for students to understand and apply economic principles to the analysis of real estate. The course provides an overview of real estate in the U.S. relative to other asset categories, and examines unique aspects of both residential and nonresidential property in urban markets. Among topics covered include growth of the urban core, determination of rent and vacancy, loan-product choice, property price indexes, and economics of the real estate cycle. The core course introduces concepts and techniques of economics that pertain to urban planners. The government’s role in the economics of cities and in development, national welfare and housing policies, public and private finance, and the cost-benefits associated with development are addressed. The course addresses state and regional economic policies that affect cities and regional economies, as well as finance, investment, fiscal resources and redevelopment initiatives. Real estate development case studies from a variety of innovative local projects in the Washington region are included in the course content. Previous coursework in economics is expected, preferably through intermediate economics, and familiarity with basic terms and concepts in economics. Calculus is not required, but a good understanding of algebra and comfort in interpreting graphs is important. Format is lecture with occasional guest speaker. Problem sets, case studies, tests, and class participation are included in grading.

  • Course #: MPRE-732-01
  • CRN: 39034
  • Format: On-campus
  • Instructor: Schuetz, J.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-950-101

MPRE Capstone Project

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: Needs Department Approval This course meets online. Core course requirement for Real Estate students. Minimum grade of "B" required to pass course. Capstone proposals must be approved by course instructor.

  • Course #: MPRE-950-101
  • CRN: 31956
  • Format: Online
  • Instructor: Harding, E.
  • Dates: Jan 08 – May 09, 2020

MPRE-950-02

MPRE Capstone Project

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: Registration in the class requires department approval. Core course for the Real Estate major. Minimum grade to pass is "B". Capstone proposals must be approved by course instructor. Needs Department Approval

  • Course #: MPRE-950-02
  • CRN: 21378
  • Format: On-campus
  • Instructor: Cristiano, R.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-950-01

MPRE Capstone Project

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: Registration in the class requires department approval. Core course for the Real Estate major. Minimum grade required to pass is "B". Capstone proposals must be approved by course instructor. Needs Department Approval

  • Course #: MPRE-950-01
  • CRN: 18728
  • Format: On-campus
  • Instructor: Cristiano, R.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-724-01   Canceled

Real Estate Entrepreneurship

Real Estate Entrepreneurship is a course designed to explain and explore entrepreneurship in the context of the business of real estate. Utilizing the dynamic Washington, DC market as a backdrop, the course will use case studies, share experiences from accomplished guest speakers, and draw from the instructors’ first-hand understanding to immerse students in the when, where, how, and why of undertaking entrepreneurial endeavors. It discusses the theory and practice of entrepreneurship generally, the motives of entrepreneurs as compared with other business people, and the specific application of entrepreneurship to the real estate sector. The coursework will focus on the mechanics of putting together deals, creating real estate businesses, the constant need to “sell” as an entrepreneur, and paths to becoming an entrepreneur, with emphasis on the constant balancing act required in a start-up operation. At the conclusion of the course, students will have enhanced insight and skills to undertake an entrepreneurial real estate venture either now or at some future point in their careers.

  • Course #: MPRE-724-01
  • CRN: 34661
  • Format: On-campus
  • Instructor: TBD
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-510-01

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.

  • Course #: MPRE-510-01
  • CRN: 26594
  • Format: On-campus
  • Instructor: Lambinicio, G.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-510-102

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 online.

  • Course #: MPRE-510-102
  • CRN: 34685
  • Format: Online
  • Instructor: Yalcin, K.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-510-101

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 online.

  • Course #: MPRE-510-101
  • CRN: 34610
  • Format: Online
  • Instructor: Rudd, M.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-510-201

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 online.

  • Course #: MPRE-510-201
  • CRN: 34612
  • Format: Online
  • Instructor: Pao, R.
  • Dates: Mar 04 – May 04, 2020

MPRE-510-202

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.

  • Course #: MPRE-510-202
  • CRN: 39460
  • Format: Online
  • Instructor: Yalcin, K.
  • Dates: Mar 04 – May 04, 2020

MPRE-901-01

MPRE Independent Study

MPRE 901-01 is an Independent Study course consisting of a small team of students competing in the annual Capital Challenge Intercollegiate Real Estate Case Competition sponsored by Maryland/DC NAIOP. The Capital Challenge consists of a case study competition of a challenging development or redevelopment site within suburban Maryland or Washington, DC. The MPS-RE student team will compete against teams of graduate students from Johns Hopkins University, The University of Maryland, American University and George Mason University. All teams are assigned the same real estate case study and are provided essential information and assumptions about the project. Teams formulate a proposed investment strategy and develop a comprehensive analysis and recommendation of how to maximize the potential of the property from both a quantitative and qualitative standpoint. The Capital Challenge uniquely examines a “real life” case study and assigns each school a team of consultant sponsors from supporting disciplines to help them develop their solution. The winning school is awarded a Grand Prize Scholarship. In 2019, Georgetown won the competition and our team received a $10,000 prize for their proposal to redevelop the former Fannie Mae HQ, now part of Roadside's City Ridge development. Previous Challenges have examined W.C. Smith’s Riverfront Portfolio, First Potomac Realty Trust’s Greyhound Bus site (also won by Georgetown University’s team!), Akridge’s Buzzard Point, and a JBG-sponsored site in NoMa. The case preparation will begin at our kick-off in early January and culminate with a presentation event in April at which the winning team will be announced. The Capital Challenge is an exceptional and unique opportunity for team members to work with the leading developers and consultants in our industry. The Challenge also provides students with exposure to real world real estate development problem-solving, meaningful interaction with seasoned industry professionals, and the excitement of intercollegiate academic competition. The team is limited to 6 or 7 members, and students who wish to take MPRE 901 should approach the NAIOP challenge faculty advisor as early as possible to get permission to register for this course. This challenge is as close as you can get to an actual development project in an academic environment. Students are responsible for all the concept, programming, design, feasibility, and investment value decisions for an actual multi-million dollar development project. The team meets for 3 to 6 hours per week and each team member has significant additional work for his or her section of the presentation. Students should only volunteer for this team if they are certain they can meet the time requirements and compressed schedule challenges this competition demands. The upside benefits are unmatched experience in the development process and the exposure to the top leaders of the Washington development industry. A student may only take MPRE 901

Note: This independent study can be taken only once. Requires permission by the RE program. Additional 150 minute distance learning requirement. Prequisites: MPRE 621

  • Course #: MPRE-901-01
  • CRN: 25131
  • Format: On-campus
  • Instructor: White, T.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-786-01   Canceled

Real Estate Investments

The Real Estate Investments course will prepare students for all aspects of making a leveraged income-producing real estate acquisition. Students will learn how to evaluate a project’s viability by learning how to perform a market analysis, create a detailed acquisition pro forma discounted cash flow, obtain and structure debt, hedge interest rate risk, raise and structure equity, equity returns and waterfalls, analyze various reversion options and perform basic tax analyses. Topics will include discounted cash flows, net present values, internal rates of return, acquisition and disposition sensitivity analyses and before- and after-tax cash flow analyses. Distressed debt and equity restructures will be introduced. The class structure will include lectures, back-of-the-envelope case studies, in-depth case studies, class discussion (participation required), readings, and guest speakers. Students will analyze actual, past and present investment and development opportunities.

Note: Prerequisites: MPRE 621

  • Course #: MPRE-786-01
  • CRN: 36490
  • Format: On-campus
  • Instructor: TBD
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-736-201

Real Estate Portfolio Management

The management of institutional real estate funds has become increasingly sophisticated since the first fund was launched in the 1970s. This course will track the evolution of institutional read estate funds including open-end, closed end, separate accounts and other structures with core, value added and opportunistic strategies in the context of industry performance metrics and benchmarks. The course will cover all phases of the portfolio planning process, including: portfolio construction; investor relations; asset management; portfolio analysis and re-positioning; dispositions; and sourcing and executing suitable transactions. Lessons learned for managing portfolio volatility through market cycles will be highlighted as will the management of funds in a global investing environment. The course will include lectures, case studies and exercises, as well as guest presentations. Objectives 1. Understand the framework of the institutional real estate fund industry, including the investor universe and competitive landscape. 2. Learn about all phases of the the portfolio planning process from portfolio construction to execution of portfolio strategies. 3. Analyze real estate portfolios to determine priorities and action plans. 4. Identify the potential impact of the market cycle and steps that can be taken to reduce portfolio volatility. 5. Explore the effect of increasing globalization of the capital markets on real estate funds and its impact on the structuring and staffing of portfolios.

Note: This course meets online. Prerequisites: MPRE 621

  • Course #: MPRE-736-201
  • CRN: 34611
  • Format: Online
  • Instructor: Manley, A.
  • Dates: Mar 04 – May 04, 2020

MPRE-735-201

Structuring Real Estate Investments: Equity, Debt and Ongoing Ownership

The Structured Finance Course examines how large commercial real estate financings are put together. The course will explore the evolution of the real estate finance transaction. Who the players were and who they are now. How have structures changed with the influence of Wall Street as a major player having entered the market in the early 90’s and the issues they faced during the credit crisis of late 2007? We will examine the options available and the problems currently facing both Borrowers and Lenders. The course will give a practical overview of how we finance the entire capital structure from senior loans to mezzanine tranches to equity. Guest lecturers, who are major forces in the business, will tell you their stories and impart their wisdom in this challenging time for structured finance. Upon completion of this course, students should have a full grasp of how deals are financed. As a result, the student should be an asset to their employer in this field. The course will include some lecturing, discussion and a significant amount of team projects designed to teach the student the anatomy of “the deal.” Class participation (20%), significant team projects including the creation of a finance memorandum, as well as specific research assignments to help train the real estate mind (30%), how well the professor feels you grasp the knowledge (20%), and a final examination (30%) will serve as the learning and assessment tools.

Note: This course meets online. Foundation course requirement for Real Estate students. Prerequisites: MPRE 621.

  • Course #: MPRE-735-201
  • CRN: 31951
  • Format: Online
  • Instructor: Cardman, T.
  • Dates: Mar 04 – May 04, 2020

MPRE-735-101

Structuring Real Estate Investments: Equity, Debt and Ongoing Ownership

The Structured Finance Course examines how large commercial real estate financings are put together. The course will explore the evolution of the real estate finance transaction. Who the players were and who they are now. How have structures changed with the influence of Wall Street as a major player having entered the market in the early 90’s and the issues they faced during the credit crisis of late 2007? We will examine the options available and the problems currently facing both Borrowers and Lenders. The course will give a practical overview of how we finance the entire capital structure from senior loans to mezzanine tranches to equity. Guest lecturers, who are major forces in the business, will tell you their stories and impart their wisdom in this challenging time for structured finance. Upon completion of this course, students should have a full grasp of how deals are financed. As a result, the student should be an asset to their employer in this field. The course will include some lecturing, discussion and a significant amount of team projects designed to teach the student the anatomy of “the deal.” Class participation (20%), significant team projects including the creation of a finance memorandum, as well as specific research assignments to help train the real estate mind (30%), how well the professor feels you grasp the knowledge (20%), and a final examination (30%) will serve as the learning and assessment tools.

Note: This course meets online. Foundation course requirement for Real Estate students. Prerequisites: MPRE 621

  • Course #: MPRE-735-101
  • CRN: 31950
  • Format: Online
  • Instructor: Rajewski, R.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-752-101

Sustainable Dev & Construction

In today’s real estate environment owners, tenants, and jurisdictions are all asking how sustainability can be incorporated into new and existing buildings. Sustainable Development and Construction is a graduate level course which builds on the foundation of the Green Building and Construction Management courses, and allows students to understand the link between design, construction and ultimately building operations. The course will present how the design impacts the construction and operation of the building as they relate to sustainable practices. The course will cover, the impact of design decisions upon construction and operations, including cost benefit analysis of design decisions. We will examine sustainable construction practice and how it impacts on owners and tenants and leases. What state and local legislation is driving sustainable building construction and operations. Ethical considerations of sustainability practice in construction and operations.

Note: This course meets online. Foundation course requirement for Real Estate students.

  • Course #: MPRE-752-101
  • CRN: 30367
  • Format: Online
  • Instructor: Connelly, K.
  • Dates: Jan 08 – Mar 02, 2020

MPRE-752-202

Sustainable Dev & Construction

In today’s real estate environment owners, tenants, and jurisdictions are all asking how sustainability can be incorporated into new and existing buildings. Sustainable Development and Construction is a graduate level course which builds on the foundation of the Green Building and Construction Management courses, and allows students to understand the link between design, construction and ultimately building operations. The course will present how the design impacts the construction and operation of the building as they relate to sustainable practices. The course will cover, the impact of design decisions upon construction and operations, including cost benefit analysis of design decisions. We will examine sustainable construction practice and how it impacts on owners and tenants and leases. What state and local legislation is driving sustainable building construction and operations. Ethical considerations of sustainability practice in construction and operations.

Note: This course meets online. Foundation course requirement for Real estate students.


MPRE-752-01

Sustainable Dev & Construction

In today’s real estate environment owners, tenants, and jurisdictions are all asking how sustainability can be incorporated into new and existing buildings. Sustainable Development and Construction is a graduate level course which builds on the foundation of the Green Building and Construction Management courses, and allows students to understand the link between design, construction and ultimately building operations. The course will present how the design impacts the construction and operation of the building as they relate to sustainable practices. The course will cover, the impact of design decisions upon construction and operations, including cost benefit analysis of design decisions. We will examine sustainable construction practice and how it impacts on owners and tenants and leases. What state and local legislation is driving sustainable building construction and operations. Ethical considerations of sustainability practice in construction and operations.

Note: This course is cross-listed with MPUP 602 Green Building Development

  • Course #: MPRE-752-01
  • CRN: 24198
  • Format: On-campus
  • Instructor: Connelly, K.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-742-01

Taxation & Real Estate: The Ins & Outs

Real estate is very tax-driven. Knowing some of the details of taxation and real estate--"the ins and outs," is a must-have ingredient for success in most real estate professions. Every transaction involves taxes. This course is designed to give an overview of tax incentives and real estate tax concepts. It will deal with low-income housing, historic, and new markets tax credits, as well as combinations thereof. The course will also include partnership taxation, C and S Corp fundamentals, 1031 exchanges, taxing on foreign investments, REIT rules and concepts, and depreciation concepts.

  • Course #: MPRE-742-01
  • CRN: 38688
  • Format: On-campus
  • Instructor: Nice, T.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:

MPRE-803-01   Canceled

Urban Development Practicum

The complexity of real estate development increases dramatically in projects comprising more than one building on one lot. In this class, we will explore techniques for the redevelopment of several blocks in urban neighborhoods using an interactive case study method. Students will assume roles in development teams and propose actual urban design and financial solutions to two problems developed by the Urban Land Institute (ULI). The first problem, UrbanPlan, is a hypothetical look at an urban neighborhood where students will propose a mix of product types in response to market demand, political requirements, social needs, and physical constraints. The proposals will be then be evaluated for their financial viability. Working in a development team, each student will perform a defined role in the development process to better understand the interests that influence complex urban development. Utilizing these skills, students will address a larger project located on a real site in an American metropolis, using the problem posed by ULI in their annual Hines Competition. Responding to market needs through the correct mix of uses placed in a sensitive design will be key to project success. This is a chance for students to assume the creative role of master developer of a high visibility project encompassing several blocks in a neighborhood of regional importance. Again, students will respond to the problem working in competing teams. This is an intensive fast-paced course, requiring thorough preparation for weekly teamwork in devising solutions. Not only will student’s creativity be called on, but their ability to sell their ideas to the team and outside reviewers.

Note: Cross-listed with MPUP 803.

  • Course #: MPRE-803-01
  • CRN: 28319
  • Format: On-campus
  • Instructors: Condon, O. , Lyons, D.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings:
    • Sat 9:00 AM - 3:00 PM

MPRE-723-01

Urban Real Estate Development

Environmental, infrastructure, and government constraints are escalating the cost and lengthening the timeline for new suburban ventures. As a result, developers and capital sources are increasingly attracted to urban mixed use projects: office, multifamily, hotel. Retail, with its experiential and entertainment value, frequently helps to achieve the density needed for financing. Students will tour relevant and thought-provoking projects, all Metro-accessible, that include: • Hines’ CityCenterDC • Federal Realty’s Bethesda Row • JBG’s Atlantic Plumbing • Forest City’s Yards • Chevy Chase Pavilion This course studies their concept and execution. By semester’s end, the student will have been exposed to the most important terms likely to be encountered in most development projects. Students are introduced to the phases common to all such projects: • Concept Plan • Financing – Equity Partners • Product Mix • Market Analysis / Site Selection • Site Control: Option Contracts / Assembly / Due Diligence • Site Layout / Design • Leasing: Financial / Operating Covenants • Zoning / Entitlement – Use / Density • Financing - Debt • Construction / Delivery Students walk the neighborhoods examined in the classroom, and they study both successful mixed use projects like Bethesda Row and challenged projects like those in Chevy Chase. They will see how the development sequence can be disrupted by the market, government, neighbors, competition – even the property itself – forcing a developer to go through a phase more than once. They will study how to increase density (and income) through planned unit developments, and the zoning battles that frequently result (which I also teach at ICSC’s University of Shopping Centers). Guest speakers from, e.g., Hines, Federal Realty and JBG, offer insights on how they overcame challenges to their developments. The course is tied together by a case study based on hypothetical redevelopment of the famed 9:30 Club at 9th and V Streets NW, between Logan Circle and Howard University. The Club is adjacent to JBG’s Atlantic Plumbing and the Shay, which represent current approaches. Development pro formas are created and modified as the hypothetical project moves from concept through construction. Guided by a Project Observation Checklist, students will tour mixed use projects to discuss how and why: Developers decide where to locate projects Equity partners and lenders assess risk Developers control and zone a site, then design, finance, lease, and build, a project Product mix is determined: what’s in the submarket and what’s not Lease terms allocate control of space and risk of failure Some projects are successful and some struggle “Location!” is not enough: Entertainment and “The Experience” are needed for success

  • Course #: MPRE-723-01
  • CRN: 37916
  • Format: On-campus
  • Instructor: Bush, M.
  • Dates: Jan 08 – May 09, 2020
  • Class Meetings: