Graduate

RE 8000 RE Concepts & Practices

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 2, 6.

This course is an introduction to the principles of real property analysis and use. Subjects include the nature of real estate and real property, fundamentals of real property law, public and private limits on the rights of ownership, fundamentals of equity investment and financial analysis, fundamentals of property valuation and market analysis, principles of location theory, and an introduction to legal documents such as the contract, the lease, and the warranty deed. Where applicable, e-commerce is incorporated into the course material. The course is accentuated with exercises in the use of the financial calculator, the spreadsheet software, and the Internet.

RE 8020 Real Estate Investment Analysis

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 2, 6.

This course builds a foundation for further study of real estate investments by introducing the student to basic issues and by providing the fundamental tools of analysis. Topics include real estate markets, income tax implications, capital structure, leases, data sources (for example, those available on the Internet), and portfolio considerations. Discounted cash flow models are developed and enhanced to incorporate concerns of inflation and uncertainty. Alternative models of analysis that are more appropriate under conditions of extreme data poverty are also examined.

RE 8030 Real Estate Financing

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 2, 6.

This course examines the legal, economic, institutional, and strategic elements of the real estate financing process, including both residential and income property financing instruments and techniques. Macroeconomic considerations and financial market issues are investigated. Decision-making techniques and research methods using traditional and technical databases and resources such as the Internet are incorporated in the class format.

RE 8035 E REITS

Credit Hours – 3.0
Prerequisite: RE8000 or RE8020 or RE8030.  CSP: 1, 2, 6.

Presenting information on valuation parameters for Real Estate Investment Trusts and other public real estate companies, this course focuses on the relationship of various performance metrics, sources and uses of capital, and management decisions to overall entity valuation.  Underlying concepts associated with cash flow analysis, net present value, internal rate of return and yield capitalization are treated.  Different sectors within the real estate investment arena as well as tools and resources available to conduct relative valuations are incorporated into discussions.  In-class illustrations will be used to highlight analytical techniques.

RE 8040 Legal and Regulatory Environment of Real Estate. (Same as LglS 8040.)

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 6.

This course deals with the basic legal concepts and legal instruments associated with real estate and with the legal and governmental environment within which the use and development of real estate are regulated. Attention is given to real property law as a risk management process with emphasis upon acquiring, managing, and disposing of space in the built environment and the decision-making process. Applications of legal data sources, both traditional and electronic, are examined as a part of the decision-making process.

RE 8050 Real Estate Development

Credit Hours – 3.0
Prerequisite: none.

This course is a review of the real estate development process focusing on the physical/design dimension. It examines building economy through review of design, construction, and analysis procedures such as site suitability analysis, cost engineering, and life-cycle costing. The course considers the impact of technology and virtual economic arrangements on the form and design of physical structures and the function of changing technical and economic activities on space needs. Traditional and technical databases and resources are incorporated.

RE 8060 Applied Real Estate Market Analysis

Credit Hours – 3.0
Prerequisite: RE 8020. CSP: 1, 2, 6, 7.

This course examines the processes used to analyze the supply and demand for real estate. General methodologies for market studies are developed and then applied to the residential, retail, and office sectors. The course also explores demographic, technological, economic, and social trends, such as the aging population and growth of e-commerce, that affect these real estate markets into the future. Techniques of spatial analysis, such as geographic information systems (GIS), are introduced.

RE 8060 Applied Real Estate Market Analysis

Credit Hours – 3.0
Prerequisite: RE 8020 or RE8030. CSP: 1, 2, 6, 7.

This course examines the processes used to analyze the supply and demand for real estate. General methodologies for market studies are developed and then applied to the residential, retail, and office sectors. The course also explores demographic, technological, economic, and social trends, such as the aging population and growth of e-commerce, that affect these real estate markets into the future. Techniques of spatial analysis, such as geographic information systems (GIS), are introduced.

RE 8070 Quantitative Analysis for Real Estate

Credit Hours – 3.0
Prerequisite: RE 8020. CSP: 1, 2, 6.

Responding to the needs of real property analysts often operating in environments of data poverty, this course develops the student’s skills in quantitative analysis. Standard tools, such as parametrical statistical estimation and linear regression, are examined to determine their relevance to problems confronted in real estate. Projects include the analysis of large electronic databases. The course also introduces nonparametric and other small sample tools not typically encountered in the business curriculum but which are of critical importance to real estate.

RE 8080 Real Estate Project Planning and Development

Credit Hours – 3.0
Prerequisite: RE 8020, RE 8030, and RE 8060. CSP: 1, 2, 6.

This course employs specific techniques of real property analyses and project planning to solve problems in real property projects. The student uses real estate financial and market analyses and physical and legal/regulatory aspects of real property to address specialized problems and solutions for real property projects. Focusing on the pre architectural phase of development management, this course considers the impact of technological changes on development and construction along with the impact of changing technical and economic activities on product design and development. Traditional and technical databases and resources such as the Internet are incorporated in the class format.

RE 8090 Real Estate Case Analysis

Credit Hours – 3.0
Prerequisite: RE 8020, RE 8030, RE 8060. CSP: 1, 2, 6.

The full scope of real estate decision-making is integrated in this course. Students get the opportunity to use their knowledge of real estate investment, finance, marketing and management in a case study format. Legal, ethical, political and international issues are incorporated in the cases. The course also offers a forum to examine topics of current significance.

RE 8100 Strategic Management of Real Property in the Corporate Environment

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 2, 6.

This course examines the applications of management theory to the acquiring, holding and disposing of space over time by the non-real estate firm. Topics may include the role of real estate in achieving the overall goals of the firm, integrating space with human resources and information technology, and the impact of real estate on the portfolio of corporate assets. Both descriptive and prescriptive views are presented as well as the differing roles of senior management and corporate real estate managers, the impact of electronic commerce on the management of real estate assets, and the strategic role of corporate real estate in the global business environment.

RE 8210 Advanced Real Estate Market Analysis

Credit Hours – 3.0
Prerequisite: RE 8060. CSP: 1, 2, 6, 7.

This course examines methodological issues in market analysis, including primary data collection, updating secondary data, and forecasting. The use of technology such as geographic information systems and Internet data sources is explored. Analysis of industrial, hotel/motel, and special use property types is emphasized. Current topics of interest are presented.

RE 8389 Directed Readings in Real Estate

Credit Hours – 1.0 – 3.0
Prerequisite: RE 8020, RE 8030, RE 8040, RE 8050, RE 8060; and consent of instructor, good academic standing.

RE 8400 Advanced Real Estate Investment Analysis

Credit Hours – 3.0
Prerequisite: RE 8020. CSP: 1, 2, 6.

This course provides for advanced application of theory and techniques for analysis of the equity position in real estate using selected readings and cases. It considers the impact of leverage, different forms of financing, leasing, and federal tax policies and concentrates on the basic productivity of real estate assets based on net cash flows. Consideration is also given to combinations of assets and their effect on the risk and return of a portfolio of assets. The focus is on commercial grade assets, with special attention to various property types, data availability, measures of risk and return, and portfolio theory. The impact of the electronic availability of data and property-specific information, both locally and globally, is examined in applied materials.

RE 8410 Real Estate Appraisal Theory and Practice

Credit Hours – 3.0
Prerequisite: RE 8020 or consent of instructor. CSP: 1, 2, 6.

The focus of this course is on the market valuation of income producing real estate stressing the market, cost, and income approaches to value. Of importance is the evolving relevance of real estate valuation information to corporate financial reporting and the needs and functions of corporate and investment fiduciaries.  Both normative and actual models of valuation are presented and contrasted. Sources of appraisal error and bias are also examined.

RE 8420 Seminar in Advanced Appraisal Practice

Credit Hours – 3.0
Prerequisite: RE 8410.

This course extends the theory and techniques of real estate appraisal to more complex properties such as mixed-use development sand special purpose properties. Appraisal issues in condemnation proceedings and property tax assessment cases are discussed. Expert witness and consulting issues are discussed in light of the standards of professional practice.

RE 8450 Taxation of Real Estate Investment

Credit Hours – 3.0
Prerequisite: RE 8000 or RE 8020 or TX 8020. CSP: None.

In this course the student examines the income tax codes of the federal government and the state of Georgia. These various subparts of these tax codes are initially review and analyzed and then placed into the context of real estate equity investment analysis. Subjects shall include, but not limited to: basis, depreciation, at-risk rules, passive loss rules, capital gain/loss treatment, like-kind exchanges, installment sales, various tax entity classifications, estate and trust tax considerations.

RE 8600 International Real Estate

Credit Hours – 3.0
Prerequisite: RE 8020 or consent of the instructor.

This course studies the ownership, transfer, and use of real estate in an international context. Problems of site selection, brokerage, risk management, and asset maintenance in countries representing various political ideologies and differing stages of economic development are considered. Variables examined include systems of ownership, customs, the respective roles of public and private sectors, taxation, finance, development controls, development patterns, and market data. Selected examples are used to demonstrate the processes and risks involved in international transactions and investments in real estate.

RE 8900 Urban Property Development and Growth

Credit Hours – 3.0
Prerequisite: none. CSP: 1, 2, 6.

This course examines the reasons for growth and competition within urban areas, emphasizing the role of real property development as an integral component of the urban process. Land use theory, traditional and contemporary metropolitan development patterns, and transportation and environmental issues are considered. Consideration is also given to the impact of decision choices, investment objectives, changing technology, telecommunication, and socioeconomic and market activities on both urban form and structure. Urban land economic theory and policy are employed to analyze development and growth with an emphasis on adaptive redevelopment.

RE 9480 Seminar in Real Estate Behavioral Research

Credit Hours – 3.0
Prerequisite: RE 8040, RE 8210, RE 8400. CSP: 1, 4.

This course familiarizes the student with the behavioral approach to research in real estate. Framework and theory of behavioral research are presented, as are methods of data development and evaluation. Current research is surveyed, and the student is required to develop a dissertation-quality research proposal.

RE 9490 Seminar in Real Estate Finance and Land Economics Research

Credit Hours – 3.0
Prerequisite: RE 8020, RE 8030, MGS 9940, MGS 9950, and MGS 9960; or consent of instructor.

This seminar is designed for students to develop skills in research methodology and gain further insights into real estate finance and land economics. The students develop skills in basic inquiry, formulating problem statements, general and working hypotheses, and the delineation of appropriate research methods. The Ph.D. candidate investigates alternative research techniques, with an emphasis on positive logical and empirical research. The course also entails critical analysis of existing research in real estate economics.

RE 9580 Seminar in Real Estate Research I

Credit Hours – 3.0
Prerequisite:

This seminar will focus on publishing real estate research in high quality journals. Students will develop the skills to write an abstract, do an exhaustive literature search, use appropriate methodology, and locate data, analyze results, and formulate conclusions. Students will also be instructed in how to respond to journal editors and journal referees. As a logical output from the course, the student will be required to submit a paper to a top journal for review.

RE 9580 Seminar in Real Estate Research II

Credit Hours – 3.0
Prerequisite:

This seminar will focus on publishing real estate research in high quality journals. Students will develop the skills to write an abstract, do an exhaustive literature search, use appropriate methodology, locate data, analyze results, and formulate conclusions. Students will also be instructed in how to respond to journal editors and journal referees. As a logical output from the course, the student will be required to submit a paper to a top journal for review.