REAL 3001. Introduction to Commercial Real Estate. 3 cr. hrs.
Provides the students with an understanding of the principles of property economics
and finance, land use regulations and laws and contractual agreements (including for
purchase and use of property) that govern commercial real estate. The acquisition,
valuation and use of debt on commercial real estate is about the purchase of the site
and improvements and the “bundle of rights” to do certain things with them. Prereq:
ECON 1103, ACCO 1030.
REAL 3986. Internship Work Period. 0 cr. hrs.
SNC/UNC grade assessment. Prereq: REAL 3001; cons. of prog. dir. and cons. of Business Career Center.
REAL 4002. Commercial Real Estate Finance. 3 cr. hrs.
Provides the student with an in-depth knowledge of real estate finance, real estate
investment, and the operation of the real estate capital markets. The objective of
the course is to understand the many sources and uses of capital in the commercial
real estate industry. The course begins with the mechanics of mortgage finance, followed
by a detailed presentation of mortgage underwriting, lender ratios, and discounted
cash flow analysis. Prereq: FINA 3001.
REAL 4061. Real Estate Modeling. 3 cr. hrs.
Real estate valuation and financial analysis is fundamental to the real estate industry
and to other disciplines dealing with real estate including banking, accounting and
law. Provides an understanding of the skills and tools used to value real estate with
particular emphasis on commercial income property and discounted cash flow modeling.
This skill is developed through classroom sessions, and reinforced by practical case
studies completed individually. The intent is to expose the student to valuation both
as its own end and as a tool in the commercial real estate decision making process.
Prereq: REAL 3001; REAL 4002 or FINA 4002.
REAL 4110. Commercial Real Estate Valuation. 3 cr. hrs.
This course uses the "three approaches" to value process to estimate the fair market
value a commercial building in the Milwaukee metropolitan area. The primary focus
of this course is on an applied market analysis and the lease-by-lease modeling of
tenant income for a commercial property as part of the income approach to value. The
sales comparison and cost approaches to value are included in the course and are part
of a narrative appraisal. Prereq: REAL 3001 or concurrent enrollment.
REAL 4120. Cases in Commercial Real Estate. 3 cr. hrs.
Focuses on the applied analysis of commercial real estate. Emphasizes the analysis
of real estate for purchase, development or financing across the major real estate
investment sub-areas (apartments, office, retail and warehouse/distribution). The
objective is to take conceptual real estate knowledge and apply it to Harvard Business
School and Milwaukee Area cases. Knowledge from the many required finance, marketing,
real estate, accounting and other business and economics courses is used to analyze
the cases. Prereq: REAL 3001, REAL 4002, REAL 4061.
REAL 4130. Commercial Real Estate Development. 3 cr. hrs.
Provides students with an in depth examination of the real estate development process.
Focuses on the physical and analytical tools necessary in the real estate development
process including: finding the development opportunity, land acquisition/site analysis,
building design and public approvals, legal, market analysis, project management,
construction, leasing and financing Prereq: REAL 3001, REAL 4002, REAL 4061.
REAL 4330. Advanced Real Estate Analysis. 3 cr. hrs.
Prepares students for two case competitions in which Marquette University participates.
Students prepare to analyze, write a report and present a development/redevelopment
proposal for a track of land or existing building. Students also prepare by reviewing
the previous year’s Eisenberg and NAIOP cases and completing additional assignments.
Each team meets twice per week to work with case advisers and team members. Prereq:
Cons. of instr.
REAL 4931. Topics in Real Estate. 1-3 cr. hrs.
Topics vary. Prereq: REAL 3001.
REAL 4953. Seminar in Real Estate. 3 cr. hrs.
Prereq: REAL 3001.
REAL 4986. Real Estate Internship - Grading Period. 3 cr. hrs.
S/U grade assessment. Prereq: Jr. stndg., cons. of prog. dir. and cons. of Business
Career Center. REAL 3986 or concurrent enrollment.
REAL 4995. Independent Study in Real Estate. 1-4 cr. hrs.
Prereq: Cons. of dept. ch.
As one of many methods of assuring that the goals of our educational mission are successfully
met, the college regularly and systematically engages in the assessment of a variety
of competencies. As part of this assurance of learning, each program defines and collects data on learning goals; statements of the knowledge,
skills and attitudes that we want our graduates to possess. We use them for continuous
improvement and they are the criteria on which organizations such as AACSB evaluate
our accreditation. The following is the current Learning Goal for the Real Estate
Major along with the goals for the Undergraduate Business Core.
- Perform an applied real estate analysis in a business situation
Below are the specific learning outcomes assessed to help determine if students meet
the above outcome.
- Apply concept of real estate development feasibility.
- Apply mortgage finance evaluation tools.
- Apply the concept of property valuation and appraisal.
- Apply concept of real estate analysis to case study.
Undergraduate Business Core Learning Goals
- Apply effective written and oral communication skills to business situations.
- Analyze the global business environment.
- Analyze the local business environment.
- Use critical thinking skills in business situations.
- Apply an ethical understanding and perspective to business situations.