Carl H. Lindner College of BusinessCarl H. Lindner College of BusinessUniversity of Cincinnati

Carl H. Lindner College of Business

Real Estate Academics - Course Descriptions

Graduate Courses

22-460-731 Real Estate Analysis
The introductory real estate course that is intended to provide an overview of the field and a foundation for further study in the MBA real estate concentration. The course introduces students to the fundamentals of urban economics, real estate analysis and valuation. Specific topics covered include the property asset and space markets, real estate development, feasibility and market analysis, location theory, urban growth dynamics, present value mathematics useful in real estate analysis, plus introductions to real estate finance, investment and appraisal.

22-460-742 Real Estate Finance and Investment
This course focuses upon technical skills required to value, finance and structure real estate transactions. Topics include: investment analysis for existing income-properties (pro-forma cash flow projections, financial ratios, alternative debt and equity financing structures, and risk analysis); ownership, taxation and financial structures; financing of real estate development; real estate in a portfolio context and the securitization of debt and equity interests in real property (REITs and CMBS).

22-460-750 Real Estate Development, Management Strategies, Negotiation, and Case Analysis
This case-based course focuses on development, leasing, negotiation, and asset management activities in a real estate firm. Construction financing and deal structuring are covered, as are recent property development trends. Students examine different negotiation strategies and models within the context of topics directly related to development and leasing, and they will participate in structured role-playing negotiation exercises. Students will also gain exposure to the institutional real estate investment arena, including pension fund investment in direct real estate and real estate investment trusts (REITs).

Undergraduate Courses

22-RE-391: Real Estate Principles. The introductory course to the real estate program designed for majors and non-majors. RE 391 is designed to introduce the student to real estate career opportunities and the field of real estate by reviewing the basic concepts of urban economics and market analysis which affect land use, rents, and values. Economic base analysis, city growth trends, and the impact of transportation costs are reviewed. This course focuses on the housing market, buying versus renting, government policies affecting housing, the office market, and touches upon retail and industrial market trends. This is a survey course which includes some fundamental technical skills such as an introduction to cash flow analysis, financing, geographic information systems and valuation concepts. Prerequisites: See course descriptions in the finance department office for more details.

22-RE-395: Real Estate Finance. Analytical techniques for evaluating income producing property, sources of financing, loan packaging, and key financial ratios are reviewed. Investment topics include cash flow analysis, risk analysis, rate of return projections, Real Estate Investment Trusts and capital market trends. Computer spreadsheets are used in this course. Prerequisites: (22-RE-391) Real Estate Principles

22-RE-492: Real Estate Appraisal. Theory and application of methods to value real property. Real estate appraisal reviews systematic methods to value residential and income producing property, influences upon market value, trends in the appraisal industry. Prerequisites: (22-RE-391) Real Estate Principles

22-RE-497: Real Estate Law. The nature of real property ownership rights, transfer of ownership, broker-agency relationships, land use controls and regulation are reviewed. Prerequisites: (22-BLAW-252) Business Law

22-RE-593: Real Estate Special Topics. This course focuses on different topics. Among these are research and writing skills, geographic information systems which map market data, and internet resource utilization. Typically offered in the fall or spring quarters. See the Director of the Real Estate Program for further information. Prerequisites: (22-RE-391) Real Estate Principles

22-RE-598: Development Methods, Cases and Negotiation. This is the real estate integral area capstone course. Cases and negotiation exercises serve to emphasize the integration of material from several business core areas. A sample of the topics covered in some of these cases includes, but is not limited to: present value analysis and general economic feasibility, global economic trends, political risk analysis, management of risk (financial, political, economic), financing strategies and alternatives,market research interpretations and data quality assessment, management of multiple team objectives and prioritization, quantitative modeling based on prioritization to reduce complex situations. Prerequisites: (22-RE-391) Real Estate Principles, (22-RE-494) Real Estate Finance and Investment, (22-BLAW-252) Business Law