Graduate Real Estate Certificate
Required Courses
FINA 7380 – Real Estate Finance (3 CH)
This introductory course provides an overview of financing for all major real estate assets as well as the principles and practices of real estate finance and investment. The course will focus on the fundamentals of commercial real estate, the financial tools needed to analyze and make decisions related to real estate, and the variables that need to be identified and quantified as part of that process. The course will also review leverage, and its impact on real estate projects, and how to calculate various forms of debt structures used to finance commercial real estate. The course examines pre and post-tax investment analysis, annual cash flows, sales proceeds at disposition with focus on tax implications and target IRR attainment. In addition, this course will utilize case studies to illustrate these practices, and the real life decision making that takes place by real estate professionals on a day to day basis.
Prerequisite: FINA 7A10 Intermediate Corporate Finance and Valuation
FINA 7381 – Principles of Real Estate (3 CH)
Introductory, overview course covering all major aspects of real property and estate business, including land title and ownership interests, title, encumbrances and title insurance policies, surveys, laws and regulations controlling real estate, development and construction, financing of real estate, roles and responsibilities of participants in real estate development and related topics.
FINA 7382 – Developing a Real Estate Project (3 CH)
Introduction to the real estate development industry including applied processes and best practices used on actual development projects. The course follows the development process from an entrepreneurial and “deal making” point-of-view. Course topics include market analysis, site selection, project budgeting/financial analysis, land acquisition, marketing and leasing, joint ventures, financing, design and construction management, and dispositions. In addition, this course will utilize case studies to illustrate these practices, and illustrate the multidisciplinary nature of real estate development teams.
FINA 7383 – Real Estate Market Analysis & Valuation (3 CH)
This introductory course covers the fundamentals of market research in real estate and determination of development project feasibility. Topics include land economics, shift-share analysis, market demand forecasts, and assessment of competitive conditions, determination of market risk plus project vacancy and absorption projections for residential, commercial and mixed-use projects.
Elective Courses
FINA 7397 – Innovation in Real Estate (3 CH)
This course organizes the knowledge and skills learned in the core courses’ and refines it into practice-based professional application. It also examines current industry dynamics and identifies leading-edge innovations in the profession. The course utilizes case studies, project field trips, development of business plans, and team case study projects. This course is sponsored by the Stanford Alexander Center for Excellence in Real Estate, and the student’s results are published in a Journal and presented at a symposium attended by leaders of the Houston real estate community.
FINA 7397 – Multifamily Real Estate (3 CH)
Overview of the major divisions of residential real estate, multi-family, single family, community development and homebuilding in which students gain knowledge and skills in all professional aspects of the residential business, financial analysis, market analysis, financing, development, sale or leasing, and operations. This is an “enterprise-based course," meaning how a multifaceted residential real estate company is organized and operates at the corporate level.