This concentration is designed for those students pursuing careers in the field of commercial real estate.

  • CRIA540 – Advanced Analytics for Real Estate Investment
    This course presents the analytical and managerial methods used by practitioners in evaluating a property to adequately plan for the successful ownership of investment real estate such that its riskreturn profile can be both optimized and properly aligned with the investment goals and capacity of the ownership. This course will dissect the net operating income statement and study in detail its component parts. Students will learn how the financial projections for a property reflect requisite strategic management planning, and how possible deficiencies can arise therein. The course will conclude by presenting methods for a comprehensive financial profile of commercial investment property based upon managed after-tax cash flows and planning for ultimate divestiture.  Prerequisite: RE520, RE530, RE540
  • CRIA550 – Analysis of Commercial Real Estate Opportunities
    This course presents issues and methods that will enable Realtors® to understand how key legal and financial factors (in particular, mortgage financing and taxation) external to the underlying economics of the property can significantly influence purchase decision-making, whether for investment purposes or owner-occupant reasons. Prerequisite: CRIA540
  • CRIA560 – Corporate Facilities Planning and Transactions
    This course will introduce the student to the issues and tasks involved in a corporation’s decision to potentially modify its facilities profile by either acquiring or disposing of properties in its collection of land and buildings that are used as factors of production. The student will become particularly acquainted with the tasks and roles that students play in corporate site selection and acquisition following decisions made through the strategic facilities planning process, and how alternative facilities are evaluated. With a focus on transaction support for companies, students will learn how to handle lease documentation and negotiations, space and land banking, and the disposition of surplus properties through subleasing or sale.  Prerequisite: CRIA540
  • CRIA570 – Commercial Real Estate Acquisition Management
    In this course, the student will learn the full range of issues and tasks involved in the acquisition of fee interests in real estate, a usually complex and challenging endeavor for real estate professionals.  Students will become aware of the legal and ethical issues involved in working with buyers in an agency relationship, and understand the standards of practice that they must meet in fulfillment of their obligations. The course will proceed chronologically through the normal course of the acquisition process, from identifying the buyer’s acquisition criteria, through sources alternative target properties, to preliminary underwriting, drafting letters of intent, to formulating and negotiating the terms of the purchase agreement, to handling the cumbersome task of due diligence, to managing the contractual obligations and preparing for closing. This course is likely to serve most students as a capstone course for the commercial specialization in that it integrates many of the other topics presented in the other courses in the specialization. Prerequisite: RE520, RE530, RE540, RE550
  • CRIA580 – Commercial Real Estate Portfolio Strategy
    This course examines commercial real estate investing in a multi-asset and commercial real estate investment portfolio context. Modern Real Estate Portfolio Theory (MREPT) is applied and portfolios are analyzed utilizing state-of-the-art portfolio techniques and tools, including index construction and benchmarking, portfolio attribution analysis, over-under concentration variance analysis, passive and active portfolio optimization, hold-sell and real option analysis, and acquisition-disposition analysis and execution. All are presented in real life portfolio decision making. Timing considerations are also  presented, including market entry-exit, risks-and-return associated with allocations to supply-constrained and commodity markets, and modern applications of property derivatives.  Students will develop investment acquisition and disposition strategies consistent with identified portfolio strategies and style.  Lastly, a brief overview of fund marketing tools, techniques and institutional target markets are discussed.  Prerequisite: CRIA570