Real Estate Development (M.S.)

The Master of Science in Real Estate Development is designed to ensure that every graduate will have a grasp of the specialized legal, physical, analytical, and management concepts and skills required in the multidisciplinary, creative, and entrepreneurial world of real estate development. Important core elements include real estate finance, investment, law, land use, entitlements, design, planning, market analysis, feasibility analysis, construction, and project management.

Admission to the Master of Science in Real Estate Development is highly selective. Requirements include superior performance in attaining the bachelor’s degree from an accredited institution. Successful candidates must demonstrate strong writing skills with the ability to effectively communicate concepts and ideas subtly and succinctly. Basic verbal, quantitative, and communication skills will be assessed prior to matriculation, and any deficiencies corrected prior to beginning the program’s core courses. A GMAT/GRE is not required but may be submitted by students for consideration toward admission. The committee will also consider the nature and extent of previous work, with preference given to those possessing a minimum of two or more years of professional experience.

Who Should Apply

Applicants should have a bachelor’s degree in business, accounting, finance, economics, design or construction or related field, and one year of professional experience; or a bachelor’s degree in another field and two years of professional experience in real estate, design, construction, business, or a related field. Ideal candidates include the following:

  • Real estate asset management personnel who want to go to the next level in their career.
  • Real estate developers, investors, owners, and attorneys who want to further their professional skills.
  • Design and construction industry professionals who want to better understand the broader perspective of the real estate developer or sponsor of a project.
  • Current or former M.S. in Real Estate, M.S. in Construction Management, Advanced Certificate in Real Estate Finance, and Advanced Certificate in Construction Management students who wish to add a specialized designation in Real Estate Development.
Course Title Credits
Core Courses
REAL 5104The Real Estate Development Process3
REAL 5006Real Estate Legal Concepts and Contracts3
REAL 5002Real Estate Finance3
REAL 5008Real Estate Economics and Market Analysis3
REAL 6051Advanced Construction Methods and Materials3
REAL 6014Land Use Law1.5
REAL 6015Planning and Design for Development1.5
REAL 5058Pre-Construction Project Planning and Development3
REAL 5012Real Estate Valuation and Investment Analysis3
REAL 6002Real Estate Development Feasibility Study3
Electives
Select 6 credits from the list below. 6
Capstone
REAL 6400Real Estate Development Applied Project3
Total Credits36

Students who wish to receive both the Master of Science in Real Estate Development and the Advanced Certificate in Construction Management or the Advanced Certificate in Real Estate Finance may apply up to 9 credits of successfully completed coursework with a grade of B or better toward each program.

Electives

Courses in this group have the REDM attribute.

Course Title Credits
REAL 5004Real Estate Accounting and Tax3
REAL 5010Real Estate Structures and Capital Markets3
REAL 5014Negotiation 1.5
REAL 5016Ethical Issues in Real Estate1.5
REAL 5051Advanced Construction Contracts, Claims, and Dispute Resolution3
REAL 5052Construction Financial Management1.5
REAL 5054Construction Cost Estimating and Bidding Strategies1.5
REAL 5056Construction Scheduling and Impact Analysis1.5
REAL 5060Construction Project Delivery3
REAL 5106Real Estate Asset Management3
REAL 5108Real Estate Credit Analysis and Underwriting3
REAL 6001Real Estate Financial Modeling1.5
REAL 6003Private Equity1.5
REAL 6004Adaptive Reuse and Sustainability1.5
REAL 6005Commercial Mortgage-Backed Securities1.5
REAL 6006Development Project Leadership, Management and Communications1.5
REAL 6007Real Estate Investment Trusts1.5
REAL 6008Affordable Housing1.5
REAL 6009Commercial Leasing1.5
REAL 6010Development Project Finance1.5
REAL 6011Building Systems, Operations, and Maintenance1.5
REAL 6012Global Real Estate Investment1.5
REAL 6013Real Estate Management3
REAL 6016Real Estate Entrepreneurship Business Planning1.5
REAL 6018Real Estate Research and Technology1.5
REAL 6020Internship1.5
REAL 6021Special Topics in Construction1.5
REAL 6022Special Topics in Real Estate1.5

About the Curriculum

Core

The 27-credit core curriculum is designed to give students an in-depth mastery of the academic disciplines and applied functional areas necessary to every real estate development professional’s success. The core leaves students with essential analysis, critical thinking and decision-making skills while creating a common student experience that fosters community. Students are required to complete all 10 courses in the core.

Electives

The 6-credit elective course requirement offers students the opportunity to immerse themselves in specialized topics of their choice. Students may assemble their own elective sequences or select the courses that are part of the Advanced Certificate in Construction Management or the Advanced Certificate in Real Estate Finance.

Capstone

The 3-credit capstone (REAL 6400) is the culmination of all the knowledge and skills acquired throughout the program. Students must be able to assimilate all that they have learned in the core courses and apply it within the context of a real-world setting. Subject to advisor pre-approval, students will undertake an applied project under the direction of a faculty supervisor, that upon completion, will demonstrate professional level mastery of the subject matter involved.