The David Eccles School of Business Master of Real Estate Development (MRED) program is one of only a handful of such program across the United States. The MRED curriculum is designed for students coming from various disciplines, such as land development, urban planning, finance, construction management, entrepreneurship, architecture, engineering and law. This program is ideal for students and professionals who are looking to take their career to the next level, network within the industry, and gain exposure to unprecedented educational opportunities.
Program Requirements: 42 credit hours
Core Credits: 36
Elective Credits: 6
Full-Time Option: 3 semesters
Part-Time Option: 6 semesters / 6 to 9 credits per semester
Enrollment Options: Fall or Spring
Class Availability: The MRED Program is designed for the working professional and can be taken in a full-time or part-time format. Many courses are offered in the evening to provide maximum flexibility for our students.
Core Courses (36 Credits)
FINAN 6710: Real Estate Development Life Cycle (1.5 credits) [Fall semester]
- Description: This course is designed to introduce students to the development process for real estate. The course focuses on critical path management of the various steps in the project managment process; from entitlements and design phases to delivery of units. Through a combination of lectures, guest speakers, and site visits, students receive introductory exposure to all phases of project management. This is a 5-week course, on Friday afternoons.
FINAN 6720: Real Estate Financial Modeling (1.5 credits) [Spring semester]
- Description: This course utilizes Excel modeling tools for real estate investment decision-making. Students are taught classic real estate analysis, and then they are given the task of evaluating various types of project and portfolio investment case studies. The overall objective is to instill the basic competencies needed to model residential, income-producing, and portfolio real estate assets, including analysis of residual land values and discounted cash flow returns on investment. This is a 5-week course on Friday afternoons.
FINAN 6730: Real Estate Analytics (3.0 credits) [Spring semester]
- Description: ARGUS Valuation - DCF is the industry standard commercial real estate cash flow projection, transaction analysis and asset valuation software. By using a lease-by-lease approach to building cash flows and valuations, property models have greater precision and clarity. Students will be taught the skills necessary for successfully passing the ARGUS software certification (ASC) exam, and obtaining the ASC designation.
FINAN 6750: Survey of Real Estate Development (3.0 credits) [Fall Semester]
- Description: Meets with FINAN 5750. Topics include the practice and process of commercial and residential development from land acquisition to permanent placement. Primary focus will consider project specific entitlement, economic and capital markets issues. Classes will be a mixture of lecture and case study.
FINAN 6760: Real Estate Finance (3.0 credits) [Fall semester]
- Description: Project level real estate finance focused on analysis of feasibility and return elements of primarily commercial real estate development and management. The course concentrates on development of appropriate analytical tools for investment decision: including Excel modeling centered on "for lease" multi-family, retail, office, and industrial projects; with a brief discussion of "for sale" residential development.
FINAN 6780: Real Estate Appraisal and Investment (3.0 credits) [Spring semester]
- Description: Economic theories of value as applied to residential and income properties, factors influencing real-property values, appraising real property, framework for real estate investment decisions, rate of return analysis, determinants of real estate investment policy for borrowers and lenders.
REDEV 6260: Land Use Law (3.0 credits) [Spring semester]
- Description: Case law analysis of common law, constitutional, statutory, and regulatory principles inherent in American land use planning and zoning.
REDEV 6390: Sustainable Development (3.0 credits) [Summer semester]
- Description: Interdisciplinary approach to theories and applications of sustainability in a variety of planning contexts. Final segment focuses on specific action plans related to sustainability.
REDEV 6960: RE Development Due Diligence (3.0 credits) [Summer semester]
- Description: A practitioner-oriented course focusing on the comprehensive steps and actions involved in the due diligence, feasibility, and entitlement phases of a real estate transaction. After successfully completing this course students will have a better understanding of the common risks and challenges associated with purchasing, developing, and investing in real estate, and students will appreciate the tools used by industry professionals in identifying, analyzing, and mitigating, or eliminating altogether those risks and challenges.
REDEV 6410: Site Planning (3.0 credits) [Summer semester]
- Description: This course reviews site development principles and entitlement processes.
REDEV 6450: Geographic Information Systems (3.0 credits) [Spring semester]
- Description: The principles and concepts of geographic information systems (GIS) technology and its applications to planning problems through lectures, assigned readings and discussion. Laboratory sessions offer hands-on practice with GIS software. Together, these provide students with a working knowledge of GIS design principles and a software package for later use in other courses and professional practice.
REDEV 6460: Real Estate Market Analysis (3.0 credits)[Fall semester]
- Description: Processes and data sources used to analyze the markets for real estate development. Explores demographic, technological and economic trends affecting markets.
REDEV 6971: Professional Project (3.0 credits) [Fall and Summer semester]
- Description: Individually or as part of a group, depending on the case study/project opportunities, each student will apply their accumulated skills and knowledge to prepare a professional real estate development report based on a case study/project as arranged by the course instructor(s). Typically, the project will encompass the creation of a comprehensive mixed-use real estate underwriting utilizing the full spectrum of real estate product types. Students submit a written work product and present it to a panel consisting of representatives of the faculty and the real estate development profession.
Electives (6 Credits)
Elective credits may be any graduate coursework taken in the David Eccles School of Business or the College of Architecture + Planning.