Bus 347 – Practicum in Real Estate I (2 credit hours) fall

Description:

              This course is an interdisciplinary study of the creation of value in commercial real estate.  Organized into groups, with each group assigned a different subject commercial real property, the class engages in the study of the physical and locational characteristics of commercial real estate as they relate to value including: property history; architecture; physical attributes that add to or detract from value; tenant mix; the immediate neighborhood environment; and, the specific market in which the real property competes for tenants.  Each group submits a written report of their findings and produces a 10-minute video documentary on their subject property.  Prerequisites: Eco 145 (or its equivalent), Acct 151 (or its equivalent), Fin 225 (or its equivalent), and permission of the instructor.  Students enrolling in this course must also commit to enrolling in the follow-on course – Bus 348 – Practicum in Real Estate II.

Bus 348 – Practicum in Real Estate II (2 credit hours) spring

Description:

              This course is a continuation of the interdisciplinary study of the creation of value in commercial real estate begun in Bus 347 – Practicum in Real Estate I.  Organized into groups, with each group continuing with the subject commercial real property assigned to them in Bus 347, the class engages in the study of the market and financial characteristics of commercial real estate as they relate to value through: a financial analysis of the market in which their property is located to include market rents, market vacancy rates and market absorption rates; and, financial analysis of the subject property to include both historical results, and pro forma estimates of revenues, expenses, cash flow and residual value.  Each group also studies the financial characteristics of comparable properties.  The course culminates in an end-of-semester written and oral presentation by each group before a panel of academic and practitioner judges.  The group judged to have performed the most outstanding analysis is awarded a cash prize. 

Prerequisites: Bus 347 – Practicum in Real Estate I.