Master of Science in
REAL ESTATE
IN REAL ESTATE, LOCATION IS EVERYTHING.
In good times and bad, the commercial real estate industry is one of the key drivers of the economy. There will always be a need for specially-trained employees to manage the complexities of real estate finance, development and construction. UNC Charlotte’s M.S. in Real Estate combines a top-notch faculty and the steadfast support of industry leaders with our location in one of the most dynamic business cities in the U.S., presenting unparalleled opportunities for students seeking a career in real estate.
UNC CHARLOTTE CENTER CITY
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ADMISSIONS & FINANCIAL INFORMATION
Master of Science in REAL ESTATE
Real Estate professionals come from a broad range of educational disciplines. The program will draw prospective students from undergraduate programs in architecture, engineering, urban planning and geography, as well as the business disciplines. Admission Requirements
Admissions Deadlines
• Possession of a bachelor’s degree from a regionally accredited college or university. • An overall grade point average of at least 3.0 on applicant’s previous work beyond high school. • At least three evaluations from persons familiar with the applicant’s personal and professional qualifications. • An essay describing the applicant’s experience and objectives in under taking graduate study. • A resume or a description of work experience. • A satisfactory score on the GRE or GMAT test.
The M.S. in Real Estate will enroll new students in the fall and spring semesters.
Priority Deadline for Fall Admission: March 1 Priority Deadline for Spring Admission: October 1
Enrollment is limited and prospective students are encouraged to apply early.
Financial Information Tuition, fees and financial aid information is available by visiting the M.S. in Real Estate program website: msrealestate.uncc.edu.
For International Applications
In addition to all of the requirements listed above, students must submit:
• An official score from one of three English proficiency tests. For the TOEFL (Test of English as a Foreign Language), the minimum score is 100 (ibt). For the IELTS (International English Language Testing System), the minimum overall band score is 7. For the MELAB (Michigan English Language Battery), the minimum score is 84. International applicants should refer to the International Admissions website for deadlines and additional admissions information.
Application questions: Allison Brinkley | Admissions Counselor email: abrinkley@uncc.edu phone: 704.687.7267 Program questions: Alyson Metcalfe | Program Director email: AMetcalfe@uncc.edu phone: 704.687.0816
CURRICULUM GUIDE
Master of Science in REAL ESTATE
Through ongoing collaboration with the business community and a number of academic departments on campus, an interdisciplinary 32-credit hour curriculum has been created to develop the next generation of leaders in commercial real estate. Graduates will develop the skills necessary to evaluate complex commercial real estate transactions while working in a variety of different fields including appraisal, brokerage, capital markets, corporate services and development. Additionally, students will engage in a series of community service projects emphasizing the social and environmental implications of real estate development and promoting sustainable practices in the industry. An optional professional internship will provide valuable exposure to the industry for students in career transition. Prerequisite Courses
Core Courses (32 credit hours)
Course Title Credit Hours • Foundations of Economics.................................................. 3 • Fundamentals of Financial Accounting & Financial Management .............................. 3
Course Title Credit Hours • Real Estate Law and Land Use Policy ................................3 • Financial Management .....................................................3 • Real Estate Finance and Investment .................................3
• Real Estate Development .............................................................. 3 • Construction Management ........................................................... 3 • Site Feasibility Analysis ................................................................. 3 • Site Planning, Building Design and Construction Fundamentals ......................................................... 3 • Financial Analysis of Development .............................................. 3 • Real Estate Seminar ...................................................................... 2 • International Real Estate Study Tour .......................................... 3 • Real Estate Capstone ................................................................... 3
COURSE DESCRIPTIONS
Master of Science in REAL ESTATE
SITE FEASIBILITY ANALYSIS – Examination of factors affecting the feasibility of land parcels for commercial and residential development with emphasis on the physical evaluation of a given site, the market support for its intended use and the financial support for the proposed development.
FOUNDATIONS OF ECONOMICS – This course focuses on topics related to the scope and methodology of economics as a social science, the analysis of markets, the development of market structure, the characteristics of market failure, problems of economic concentration, the theory of income distribution, the measurement of national income, the theory of national income determination, money and banking, monetary and fiscal policy, and international economics.
SITE PLANNING, BUILDING DESIGN AND CONSTRUCTION FUNDAMENTALS – This course will introduce essential principles of site planning, design and construction. Special emphasis will be placed on programming and sustainability issues for different project types. The nature and characteristics of construction materials, equipment, and systems used in modern buildings will be presented and how they affect function and feasibility.
FUNDAMENTALS OF FINANCIAL ACCOUNTING AND FINANCIAL MANAGEMENT – Accelerated and in-depth study of conceptual foundations and applications of financial accounting and financial management with emphasis placed on building accounting and finance information bases for external decision making.
FINANCIAL ANALYSIS OF DEVELOPMENT – This course provides students with the analytical and computer skills necessary to evaluate the financial feasibility of complex value added real estate development projects, including land development, commercial and housing development. Accounting and taxation issues influencing the financial viability of real estate development projects will also be considered.
REAL ESTATE LAW AND LAND USE POLICY – This course provides an overview of common legal issues involved in the acquisition, development, financing, ownership and operation of real estate assets. Emphasis is placed on legal forms of ownership, real estate sale and lease transactions, and government regulation and taxation of land. FINANCIAL MANAGEMENT – Theory and practice of corporate finance including asset management, cost of capital and capital budgeting, optimization programs and socio-economic aspects of financial management. Computer technology may be employed when applicable.
REAL ESTATE SEMINAR – This course is designed to provide students with exposure to emerging trends in the real estate industry. Students are required to participate in real estate trade organization meetings, engage in leadership and negotiation training, attend guest lecturers covering real estate trends and ethical business practices, and complete professional development seminars.
REAL ESTATE FINANCE AND INVESTMENT – This course focuses on the techniques used to analyze, finance and structure real estate transactions. Topics include: an overview of the real estate space and capital markets; the techniques of financial analysis and valuation; project ownership structures, taxation and financial structure; real estate in an investment portfolio; and determining the financial feasibility of real estate development.
INTERNATIONAL REAL ESTATE STUDY TOUR – Students participating in the course will travel to an international city to study real estate development. Opportunities and challenges in the regional real estate market will be explored through the completion of a series of study tours, presentations, reading assignments and short essays. Emphasis will be placed on issues such as urban planning, sustainable growth, economic development and global market integration.
REAL ESTATE DEVELOPMENT – This course focuses on an introduction to the real estate development process. The course focuses on the identification and evaluation of the critical assumptions and issues related to market and site feasibility, financial feasibility, planning, acquisition, and operation of economically viable commercial real estate projects. Students will work in groups on a semester project to select a site and prepare an appropriate development plan that emphasizes the market and financial feasibility of the real estate development. CONSTRUCTION MANAGEMENT – This course addresses the various roles and responsibilities of the contractor and construction manager in the development process including discussion of the owner/designer/constructor relationship. Emphasis is placed on sustainable design and other public policy objectives advanced by specific types of development, as well as the role the public sector may play in the success of real estate projects.
REAL ESTATE CAPSTONE – This course i s designed to bring together the topics covered in the MSRE program and examine how they relate t o each other. Students will complete applied group projects, as well as conduct independent research, to explore issues of interest to the real estate industry. All of these projects will encourage students to develop their leadership and negotiation skills, as well as consider ethical issues commonly faced by real estate professionals.
ADVISORY BOARD
Master of Science in REAL ESTATE
The M.S. in Real Estate program benefits from the strong support of an outstanding Real Estate Advisory Board. These distinguished business leaders within the real estate industry provide vital counsel on real estate curriculum, programming and promotion. Mr. Weston Andress Regional President PNC Bank
Mr. Walter Fisher, Jr. Member Troutman Sanders LLP
Mr. Todd Mansfield President & CEO Crescent Resources
Mr. Ed Rose President & CEO Shelco, Inc.
Mr. Bob Bertges Executive Vice President Wells Fargo Corporate Properties Group
Mr. Curt Grantham Executive Managing Director CB Richard Ellis
Mr. William Matthews, Jr. Attorney at Law Womble Carlyle Sandridge & Rice, LLC
Mr. Thomas Sittema CEO CNL Real Estate Group, Inc.
Mr. H.C. “Smoky” Bissell Chairman and CEO The Bissell Companies, Inc.
Mr. Clay Grubb President Grubb Properties
Mr. Charles Lindsey McAlpine President Southern Apartment Group
Mr. Tim Sittema Partner Crosland Southeast
Mr. Bryan Brooks Vice President Medalist Capital, Inc.
Mr. Paul Herndon President American Asset Corporation
Mr. Frank Warren Senior Economist Kimley-Horn & Associates, Inc.
Mr. Jefferson Brown (Chair) Member Moore & Van Allen
Ms. Anne Marie Howard CEO and General Counsel Charlotte Regional Realtor® Association
Mr. Pat Mumford Director of Neighborhood & Business Services City of Charlotte
Ms. Debra Campbell Director Charlotte-Mecklenburg Planning Commission
Mr. John Ockerbloom Managing Director Jefferies LLC
Mr. Raymond Hughes Senior Vice President Wells Fargo
Mr. Perry Quick Senior Vice President Fifth Third Bank
Mr. John Culbertson Managing partner Cardinal Real Estate Partners, LLC
Mr. Fred Klein Managing Partner Childress Klein Properties
Mr. David Ravin President & CEO Northwood Ravin
Mr. Geoffrey Curme Managing Partner Cardinal Real Estate Partners, LLC
Mr. Ken Loeber President of Real Estate Services CNL Commercial Real Estate
Mr. Patrick Riley President & COO Allen Tate Company, Inc.
Mr. Jubal Early Senior Vice President Lincoln Harris
Mr. Daniel Levine President Levine Properties
Ms. Pat Rodgers President & CEO Rodgers Builders Inc.
Mr. Peter Fioretti Chairman & CEO MREC
Mr. George Maloomian President Cambridge Properties, Inc.
Ms. Ellen Rodgers Senior Vice President Bank of America Merrill Lynch
Mr. W. Samuel Woodard Partner Parker Poe Adams & Bernstein, LLP Dr. Steve Billings (Co-Director) Assistant Professor UNC Charlotte Dr. Richard Buttimer Associate Dean UNC Charlotte Ms. Alyson Metcalfe MSRE Program Director UNC Charlotte Dr. Steve Ott (Co-Director) Dean of Belk College of Business UNC Charlotte Dr. Kiplan Womack (Kip) Assistant Professor UNC Charlotte
Master of Science in REAL ESTATE
A city on the rise. A university with vision. Strategic vision, relentless drive, and unbridled optimism have branded both the Charlotte region and UNC Charlotte as models of innovation and progress. Charlotte is a vibrant city, a modern and forward-looking business center that has transformed from a regional business hub to the second-largest financial services center in the United States. Home to the global headquarters of nine Fortune 500 companies, the region has become a magnet for ambitious and aspiring young professionals from all over the world. Just as the city has evolved, so has UNC Charlotte. The university actively collaborates with local business leadership to incorporate emerging business trends, ideas and innovations into its academic programs.