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Graduate Certificate in Real Estate Development

The Real Estate Certificate is a 29 credit program, 20 of which are Core Courses and 9 of which are Electives.

Core Courses:

USP 523 Real Estate Development I (4 credits)
USP 546 Real Estate Development II (4 credits)
RE 521 Real Estate Finance I (4 credits)
RE 522 Real Estate Finance II (4 credits)
RE 573 Housing Economics (4 credits)

Electives: 9 credits

(choose at least one course from Group 1, your second and third electives can come from Group 1 or Group2)

Group 1 (Urban Policies & Processes):

USP 526 Neighborhood Conservation & Change (4)

USP 527 Downtown Revitalization (3)

USP 528 Concepts of Community Development (3)

RE 548 Real Estate Market Analysis (3)

USP 551 Community Economic Development (3)

USP 555 Land Use: Legal Aspects (3)

RE 562 Real Estate Development Workshop (4)

USP 567/667 Urban Housing Policies (3)

USP 572/672 Regional Economic Development (3)

Group 2 (Other electives):

USP 513 Introduction to Landscape Architecture (3)

USP 517 Urban Economic Development Policy (3)

USP 524 Site Planning (3)

USP 529 Green Buildings I (3)

RE/USP 538 Real Estate Law (3)

USP 542 Land Use Implementation (3)

USP 563 Real Estate Construction (3)

USP 578/678 Impact Assessment (3)

USP 579 State and Local Public Finance (3)

USP 596 Affordable Housing Finance (3)

USP 624 Project Design (3)

USP 625 Green Buildings II (3)

FIN 512 Economic & Sustainability of the Firm (4 credits)

FIN 539 Real Estate Valuation I (3)

FIN 552 Investments (4)

FIN 553 Financial Analysis & Business Valuation (4)

FIN 559 Advanced Real Estate Valuation (3)

The program can be completed in a single year on a full-time basis or over two years on a part-time basis. Courses have been scheduled so that students can complete a certificate in the academic year on a September-to-June basis. However, students can begin taking real estate courses in any quarter.

FallWinterSpringSummer
Real Estate Finance I Real Estate Finance II Real Estate Finance I

Real Estate Development I Real Estate Development II  
    Housing Economics  

 

Real Estate Finance I (RE 521) 4 credits

Introduces business finance within the context of commercial real estate. Concepts and techniques will include financial statements, analysis, and forecasting;  present value and discounted cash flow analysis, an introduction to real estate valuation measurements;  and analysis of performance risk versus return. Students also receive an overview of the legal definitions of real estate terminology, including title, contract, regulation, and financing issues, and case studies in real estate development.  Recommended prerequisites: Ec 201 and 202. Syllabus.

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Real Estate Finance II (RE 522) 4 credits

Application of finance and economic principles to analysis of real estate finance and investments.  Emphasis on the development of problemsolving capabilities through the use of compter application programs. Special attention given to risk analysis, alternative mortgage instruments, hedging techniques, and the tax effects of real estate investment. Prerequisite: RE 521 or equivalent.

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Real Estate Development I (USP 523) 4 credits

This course evaluates the new public/private partnerships that are necessary for downtown redevelopment, historic rehabilitation, integrated mixed-use urban centers, urban villages, and new communities. Students will analyze the critical conceptual, feasibility, and deal-making phases of the development process, as well as the development and management stages. The course examines the new affirmative roles played by both public and private developers, as well as unusual joint development entities. Also considered are innovative concepts of incremental growth, land and development banking, shared parking, and alternative development patterns. Prerequisites for undergraduates: USP 515 or RE 521 or equivalent.

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Real Estate Development II (USP 546) 4 credits

This class will provide students the experience of developing a comprehensive and unified analysis of a commercial real estate project. Each student will submit a case study with greater specificity showing how the design, development, market, finance, construction, and management of the project is integrated. A select number of projects in the greater Portland area will be analyzed as case studies. Students will work closely with industry participants and faculty to develop their analysis as well as alternative strategies for the project at critical stages of its development. Prerequisite: USP 523 Real Estate Development I.

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Housing Economics (RE 573) 4 credits

This course looks at the economics of real estate and housing, including land rent, interest rates, apartment rents and housing prices, using an economic framework. Basic concepts in urban economics such as land rents, externalities, and public goods are reviewed. Explores the technique most commonly used in real estate and housing economics: hedonic pricing. Explores the rationale and impact of government intervention in the private real estate market. Prerequisite: USP 515 or RE 521 or undergraduate course in economics.

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Elective graduate courses

The electives in the Program enable the students to build particular skills from the wide selection of courses offered by both Schools of Urban Studies and Planning and the School of Business Administration. Course descriptions for the electives appear in the University Bulletin. Students must choose at least one elective course from the Urban Policy and Processes group to insure a broader understanding of planning and development in an urban setting.

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