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Real Estate Management Program

What is the Real Estate Management Program?. The Real Estate Management Program, administered by the Guthrie Center for Real Estate Research, is a comprehensive program designed to ensure that students acquire a basic knowledge of finance, development, law, investment, and public

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Real Estate Management Program

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    1. Real Estate Management Program

    2. What is the Real Estate Management Program? The Real Estate Management Program, administered by the Guthrie Center for Real Estate Research, is a comprehensive program designed to ensure that students acquire a basic knowledge of finance, development, law, investment, and public & urban economics, as these topics apply to the real estate profession. The curriculum prepares students for high-level professional and managerial careers in the industry. The program is structured to help students adapt to change and become leaders in this dynamic industry. The program addresses all aspects of real estate development – social, economic, and financial. The courses are taught by leading scholars and distinguished practitioners with significant practical experience in the areas of development, finance, economics, and law. In addition to classroom activities, students interact with real estate professionals in a variety of settings.

    3. Program Leadership Associate Director Professor Pagliari has published widely in the area of institutional real estate investments. His research interests include applications of portfolio management theory, hedonic regression, the “fundamental” return-generating process, the use of leverage and option pricing all as applied to institutional real estate investments. Pagliari has been a real estate practitioner for over 20 years. His involvement in the real estate industry has included debt and equity placement, residential development, acting general partner in various syndicated partnerships, and consulting to real estate investment advisory firms.

    4. The Real Estate Management Curriculum

    5. Two required classes REAL 442: Real Estate Finance REAL 464: Real Estate Investments II …and two of the following REAL 443: Urban Economic Development and Real Estate Market Analysis REAL 444: Real Estate Development REAL 446: Real Estate Investments I REAL 447: Legal Issues in Real Estate MGMT 932: Local Public Economics and Business Strategy

    6. REAL 442: Real Estate Finance

    7. The intention of this course is to build upon the skill set emphasized in REAL 446. Accordingly, much of the course's emphasis is on various types of financial modeling. More specifically, this course in intended to: a) provide you with a perspective on the “structuring” issues related to real estate equity investments, b) invoke the multi-disciplinary setting in which complex real estate transactions take place, and c) move beyond the “core” property types. The primary perspective of the course is that of an institutional investor. Prerequisite: FINC-430.

    8. Electives—Choose Two

    9. REAL 443: Urban Economic Development and Real Estate Market Analysis

    10. This course introduces students to the dynamics of the (commercial and residential) real estate development process using examples and methodologies from past and current real estate projects. Students develop a thorough understanding of the development process, from the inception of an idea to the design and construction of income-producing real estate. Emphasis is placed on identifying development opportunities in a rapidly changing real estate environment.

    11. REAL 446: Real Estate Investment I

    12. This course is not intended to make lawyers out of business school students. It is, rather, an effort to introduce those who might become involved in real estate to legal issues which are essential elements of real estate transactions. The course, which is taught by practitioners and participants in the field, provides an overview of the legal issues that confront the real estate executive from the commencement of a real estate transaction and throughout the relationship between the parties to such transactions.

    13. MGMT 932: Local Public Economics and Business Strategy

    14. The Institutional Structure & Activities of the Real Estate Management Program

    15. Real Estate Club The Real Estate Club was formed by students interested in pursuing various aspects of the sector. The Club complements the Kellogg School's curriculum by inviting practitioners to share their experience and expertise in property development, finance, and management.

    16. Guthrie Center for Real Estate Research The Guthrie Center for Real Estate Research at Kellogg has its own advisory committee of prominent individuals in the field. The Center supports research projects that involve real estate markets, public and private finance, urban economics, project management, and the development process. The Center also assists students in finding summer and full-time employment.

    17. Activities of the Real Estate Management Program, the Guthrie Center, and the Real Estate Club Real Estate Challenges Real Estate Conference Real Estate Newsletter: the Real Return Executive Speaker Series Other Programs and Activities

    18. National Real Estate Challenge Austin Texas The National Real Estate Challenge is a case-based real estate competition hosted by The University of Texas at Austin between leading business/real estate schools around the country. The event takes place in Austin each November, and is meant to give graduate students a taste of the challenges that face real estate professionals after graduation. The competition is judged by esteemed real estate professionals from Goldman Sachs and other sponsoring companies.

    19. 2nd Annual Real Estate Development Case Competition

    20. Sherman Plaza Development Talk

    21. “Identifying and Creating Real Estate Value in an Increasingly Competitive Market" Nov. 1st, 2006

    22. Executive Speaker Series

    23. Executive Speaker Series Mr. Claeys is the Chairman of Heitman. He started his career at White, Weld & Company as a member of the corporate finance department, concentrating in real estate finance and raising capital for developers, operating companies and the early REITs. In 1978, he became co-head of acquisitions for JMB Realty. Mr. Claeys was named Chairman of JMB Institutional of 1990. In 1994, JMB Institutional Realty merged with Heitman. The merger of the advisory business of Heitman and JMB formed a new investment advisory entity led by Mr. Claeys. In 1999, Mr. Claeys was named Chairman and CEO of Heitman. As of January, 2002, he serves as Chairman of Heitman.

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