Graduate Program Real Estate Development (MRED)

Aerial view of downtown Portland

Master of Real Estate Development Master's Degree Overview

Lay the foundation for sustainable career success in commercial real estate. 

It’s no coincidence that Portland State University is located in the heart of one of America’s most dynamic, innovative real estate markets. Portland has become a national model of urban livability. And our Master of Real Estate Development equips you to shape the communities of the future.

Offered jointly through PSU’s nationally-ranked School of Business and renowned College of Urban & Public Affairs, our Master of Real Estate Development offers practical, interdisciplinary, outcome-oriented expertise in commercial real estate. You’ll gain hands-on experience, work with industry pros, and build a professional network to accelerate your rise in commercial real estate.

Designed for professionals working in all areas of commercial real estate, the degree provides foundational real estate knowledge in addition to access to the region’s top real estate leaders. Whether you’re already employed in real estate or breaking into the field, our Master of Real Estate Development puts your career on the fast track.

Degree Details

  • M
    On campus
    Time to completion
    Full Time 12 Months; Part Time 24 Months
    Total Credits
    Start Term
    Fall & Spring

Master of Real Estate Development Master's Degree: Why PSU?

  • Practical, industry-aligned curriculum. With input from industry leaders, our curriculum reflects the most current tools and techniques in commercial real estate. You’ll acquire relevant, high-impact expertise in real estate finance, law, market analysis, economics, design, and more.
  • Emphasis on innovation. Portland State helped pioneer a model of sustainable urban development that cities across the world have sought to emulate. You’ll learn to practice real estate development in a sustainable, inclusive, and community-oriented manner, learning and connecting with many of the nation’s leading, innovative development firms.
  • Hands-on experience. Our Master of Real Estate Development gets you out of the classroom and into the community. You’ll tour Portland’s latest urban developments, examine practical real estate challenges and interact with professionals in every corner of the industry. The program culminates in a capstone development project in partnership with the NAIOP organization. You’ll showcase your creativity in commercial real estate by creating and presenting solutions to property owners, developers, and investors.
  • Exceptional faculty. You’ll learn from national experts who’ve worked all over the world in real estate development, consulting, urban planning, placemaking, and related fields. Our instructors teach from first-hand experience, offering mentorship and career guidance as well as academic expertise. 
  • Professional connections and acceleration. PSU’s Center for Real Estate — a partnership between The School of Business and College of Urban & Public Affairs to manage real estate programs at PSU — offers you extraordinary opportunities to connect with Portland’s leading real estate professionals for hands-on learning, mentorship, and networking. In addition, the real estate master’s degree fast tracks you to qualify for certification in environmental design (LEED), commercial investment (CCIM), property management (CPM), or transaction analysis (Argus). All of the degree’s real estate courses can also be applied toward continuing education credits for Oregon and Washington brokers.

Master of Real Estate Development Highlights

  • Housed in PSU’s Karl Miller Center, an iconic LEED Platinum facility that opened in 2017
  • Opportune location in Portland’s trendsetting real estate market
  • Open to both part-time and full-time students
  • Late afternoon and evening courses to accommodate working professionals 
  • Open to students desiring to start in April or September
  • Standardized exams (GMAT and GRE) not required for admission
  • Accessible to early- and mid-career professionals and recent college graduates
  • PSU named to U.S. News & World Report’s “Most Innovative Universities” list four consecutive years
  • Engaged advisory board and alumni chapter

What Can I Do With a Master's in Real Estate Development?

The Master of Real Estate Development gives students a solid foundation in real estate education to advance their careers. Students come from a diverse range of backgrounds and aspire to an equally wide array of professional outcomes, including:

  • Real estate investment and ownership
  • Brokerage
  • Urban planning and design
  • Affordable housing
  • Lending
  • Construction
  • Architecture
  • Property Management
  • Development
  • Project management

Featured Courses

  • USP 523 Real Estate Development I
  • USP 546 Real Estate Development II
  • USP 624 Development Project Design 
  • RE 531 Executive Perspectives on Real Estate
  • RE 562 Real Estate Development Workshop
  • USP 527 Downtown Revitalization
  • USP 569 Sustainable Cities and Regions 
  • USP 612 Community, Planning, and Ethics
  • RE 521 Real Estate Finance I 
  • RE 522 Real Estate Finance II
  • RE/USP 538 Real Estate Law
  • RE 573 Housing Economics


The MRED program allows a wide range of electives to build your expertise, including Green Building, Real Estate Market Analysis, Real Estate Investment Analysis, Property and Asset Management, and Real Estate Valuation, as well as thought-provoking courses like Retrofitting Suburbia and Affordable Housing Finance.

Accreditation & Rankings

Portland State University is fully accredited by the Northwest Commission on Colleges and Universities (NWCCU).

One of fewer than 200 business schools worldwide — top 1% — to be accredited in both business and accounting by the Association to Advance Collegiate Schools of Business (AACSB). AACSB is the elite business school accreditation known internationally.

Learn More About the Master of Real Estate Development