REAL 3001. Principles of Commercial Real Estate Development. 3 cr. hrs.

Provides the student with an introductory knowledge of the real estate development process. The course 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. Throughout the course a simple real estate development feasibility process is followed to assess the viability of a development at different stages of the development process. Prereq: ACCO 2031 and ECON 2004.

REAL 3986. Internship Work Period. 0 cr. hrs.

SNC/UNC grade assessment. Prereq: Jr. stndg., cons. of prog. dir. and cons. of internship dir.

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 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: Completion or concurrent enrollment in both REAL 3001 and REAL 4002.

REAL 4120. Cases in Commercial Real Estate. 3 cr. hrs.

Focuses on the applied analysis of commercial real estate. The emphasis of the course is on 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 of the course 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 in analyzing the cases in this course. Prereq: Completion or concurrent enrollment in both REAL 3001 and REAL 4002.

REAL 4931. Topics in Real Estate. 3 cr. hrs.

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 internship dir.

REAL 4995. Independent Study in Real Estate:. 1-4 cr. hr.

Prereq: Cons. of dept. ch.