# REALEST 852: Private Real Estate Equity Investment Iii: Guidelines, Governance, and Portfolios | UW–Madison

[View on UW Courses](https://uwcourses.com/courses/REALEST_852)

## Dataset

### revision

e243353dcb7d79b7247ced91d69443ef4c2a6349

### repository

twangodev/uwcourses

### schema version

6

### importer version

7

### projection id

94468b7d4154126ca413937bb4738a6d21e0c2277f6fa397a6078ad80a32384f

### observed at

2026-09-07T15:55:43.033547+00:00

### built at

2026-09-10T23:19:01.870283+00:00

### courses

8951

### current instructors

5754

### limited

false

### terms

* 1272
* 1264
* 1262
* 1254
* 1252
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* 1194
* 1192
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* 1182
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* 1172
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* 1162
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### term

1272

### departments

| subject   | count |
| --------- | ----- |
| AAE       | 90    |
| ABT       | 20    |
| ACCTIS    | 36    |
| ACTSCI    | 14    |
| AFAERO    | 10    |
| AFRICAN   | 87    |
| AFROAMER  | 71    |
| AGROECOL  | 21    |
| AMERIND   | 53    |
| ANAT\&PHY | 7     |
| ANATOMY   | 2     |
| ANESTHES  | 8     |
| ANSCI     | 57    |
| ANTHRO    | 95    |
| ART       | 125   |
| ARTED     | 10    |
| ARTHIST   | 121   |
| ASIALANG  | 129   |
| ASIAN     | 109   |
| ASIANAM   | 28    |
| ASTRON    | 38    |
| ATMOCN    | 69    |
| BIOCHEM   | 51    |
| BIOCORE   | 10    |
| BIOLOGY   | 14    |
| BIOMDSCI  | 18    |
| BME       | 66    |
| BMI       | 41    |
| BMOLCHEM  | 10    |
| BOTANY    | 69    |
| BSE       | 44    |
| C\&ESOC   | 73    |
| CBE       | 48    |
| CHEM      | 101   |
| CHICLA    | 52    |
| CIVENGR   | 133   |
| CLASSICS  | 47    |
| CNP       | 10    |
| CNSRSCI   | 50    |
| COMARTS   | 137   |
| COMPBIO   | 15    |
| COMPLIT   | 11    |
| COMPSCI   | 138   |
| COUNPSY   | 78    |
| CRB       | 19    |
| CS\&D     | 71    |
| CSCS      | 40    |
| CURRIC    | 193   |
| DANCE     | 93    |
| DERM      | 8     |
| DS        | 88    |
| DYSCI     | 35    |
| ECE       | 155   |
| ECON      | 145   |
| EDPOL     | 114   |
| EDPSYCH   | 97    |
| ELPA      | 70    |
| EMA       | 53    |
| EMERMED   | 17    |
| ENGL      | 206   |
| ENTOM     | 40    |
| ENVIRST   | 148   |
| EP        | 15    |
| EPD       | 67    |
| ESL       | 16    |
| F\&WECOL  | 60    |
| FAMMED    | 22    |
| FINANCE   | 50    |
| FOLKLORE  | 40    |
| FOODSCI   | 43    |
| FRENCH    | 63    |
| GEN\&WS   | 145   |
| GENBUS    | 72    |
| GENECSLR  | 17    |
| GENETICS  | 60    |
| GEOG      | 113   |
| GEOSCI    | 83    |
| GERMAN    | 82    |
| GLE       | 48    |
| GNS       | 38    |
| GREEK     | 27    |
| HDFS      | 41    |
| HEBR-BIB  | 13    |
| HEBR-MOD  | 10    |
| HISTORY   | 233   |
| HISTSCI   | 56    |
| HONCOL    | 13    |
| ILS       | 43    |
| INFOSYS   | 9     |
| INTEGART  | 7     |
| INTEGSCI  | 22    |
| INTER-AG  | 18    |
| INTER-HE  | 11    |
| INTER-LS  | 22    |
| INTEREGR  | 16    |
| INTLBUS   | 21    |
| INTLST    | 50    |
| ISYE      | 83    |
| ITALIAN   | 53    |
| JEWISH    | 56    |
| JOURN     | 88    |
| KINES     | 128   |
| LACIS     | 26    |
| LANDARC   | 61    |
| LATIN     | 24    |
| LAW       | 120   |
| LEGALST   | 48    |
| LINGUIS   | 35    |
| LIS       | 89    |
| LITTRANS  | 78    |
| LSC       | 52    |
| M\&ENVTOX | 7     |
| MARKETNG  | 62    |
| MATH      | 153   |
| MDGENET   | 8     |
| ME        | 130   |
| MEDHIST   | 43    |
| MEDICINE  | 60    |
| MEDIEVAL  | 32    |
| MEDPHYS   | 39    |
| MEDSC-M   | 29    |
| MEDSC-V   | 41    |
| MHR       | 68    |
| MICROBIO  | 45    |
| MILSCI    | 16    |
| MM\&I     | 22    |
| MOLBIOL   | 6     |
| MS\&E     | 59    |
| MUSIC     | 165   |
| MUSPERF   | 126   |
| NAVSCI    | 20    |
| NE        | 44    |
| NEURODPT  | 11    |
| NEUROL    | 7     |
| NEURSURG  | 4     |
| NTP       | 11    |
| NURSING   | 111   |
| NUTRSCI   | 65    |
| OBS\&GYN  | 18    |
| OCCTHER   | 39    |
| ONCOLOGY  | 14    |
| OPHTHALM  | 5     |
| OTM       | 43    |
| PATH      | 34    |
| PATH-BIO  | 29    |
| PEDIAT    | 26    |
| PHARMACY  | 31    |
| PHILOS    | 77    |
| PHMCOL-M  | 11    |
| PHMPRAC   | 45    |
| PHMSCI    | 60    |
| PHYASST   | 37    |
| PHYSICS   | 88    |
| PHYSIOL   | 3     |
| PHYTHER   | 37    |
| PLANTSCI  | 52    |
| PLPATH    | 35    |
| POLISCI   | 192   |
| POPHLTH   | 58    |
| PORTUG    | 33    |
| PSYCH     | 101   |
| PSYCHIAT  | 22    |
| PUBAFFR   | 54    |
| PUBLHLTH  | 23    |
| RADIOL    | 11    |
| REALEST   | 41    |
| RELIGST   | 90    |
| RHABMED   | 9     |
| RMI       | 24    |
| RP\&SE    | 102   |
| S\&APHM   | 17    |
| SCANDST   | 73    |
| SLAVIC    | 89    |
| SOC       | 149   |
| SOCWORK   | 87    |
| SOILSCI   | 46    |
| SPANISH   | 83    |
| SRMED     | 21    |
| STAT      | 94    |
| STDYABRD  | 52    |
| STS       | 8     |
| SURGERY   | 25    |
| SURGSCI   | 33    |
| THEATRE   | 91    |
| URBRPL    | 60    |
| UROLOGY   | 5     |
| ZOOLOGY   | 89    |

## course

### run id

20260907T155543-ce3781c4

### semester

1272

### observed at

2026-09-07 15:55:43.033547+00:00

### record version id

0d254e4f7ae93873fc1a514577fa0e58fccaa811c2a6490b15f6b1de1fc6373f

### course id

REALEST 852

### course uid

course\_5a8da177c6754a6c99a12812

### catalog version id

a524e45bc27de72b8f9cd06cd16d89e2182ecda3c6b79053ffd03e1cf8003506

### course number

852

### subjects

* REALEST

### title

PRIVATE REAL ESTATE EQUITY INVESTMENT III: GUIDELINES, GOVERNANCE, AND PORTFOLIOS

### description

Focuses heavily on building the investment pipeline, analyzing and underwriting new real estate private placement investments, understanding the governance structures, and benchmarking Fund investment returns to industry standards. Investments opportunities that meet investment criteria expectations will be presented to an external Investment Committee of the Wisconsin Real Estate Alumni Association.

### requirements text

REAL EST 851

### credit offering ids

None recorded.

### llm job id

enrich-8b774950c2b6adfdc46d1b82

### llm output id

7a2518993d51614c9937d6cd4abc16a0f6458322e6319cf41c37232518afd486

### llm model

nvidia/Qwen3.6-35B-A3B-NVFP4

### llm model revision

1355db6a052410cfd62085d94b58866fd0f2c3c5

### llm task version

14

### llm search status

valid

### llm summary

PRIVATE REAL ESTATE EQUITY INVESTMENT III covers investment pipeline development, underwriting, governance, and return benchmarking.

### llm topics

* Real estate private placement investment underwriting
* Investment governance structures
* Fund investment return benchmarking

### llm skills

* Building investment pipelines, underwriting private placement investments, understanding governance structures, and benchmarking returns.

### llm assumed background

* Foundations in real estate private equity analysis, investment processes, and structures.

### llm search phrases

* real estate private equity investment
* underwriting real estate
* real estate governance
* WREAA Fund

### llm requirements status

valid

### llm student summary status

valid

### llm experience status

insufficient\_evidence

### catalog variants

None recorded.

### student summary

#### context hash

0704a268e07ddba2b8028aaee5de6343d4a6c47ffeacbd10440a743aca1196ca

#### course id

REALEST 852

#### current instructors

None recorded.

#### difficulty workload

None recorded.

#### errors

None recorded.

#### historical context

None recorded.

#### message

No course-specific reviews available

#### offered

false

#### profile hash

5cb4dabf887cdbcd8c00d5a1312e10828b95c63f30bc3ea76aea199565390d02

#### quick take

Recent recorded grades — Spring 2024: 3.68 GPA, 80.6% A/AB (n=31 letter grades); Spring 2025: 3.80 GPA, 92.9% A/AB (n=28 letter grades); Spring 2026: 3.90 GPA, 96.2% A/AB (n=26 letter grades).

```json
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```

#### student experience

None recorded.

#### task hash

74fb0997943e888960bbc9e47db8c4fd12e4292d55c20509d8d89db6a9910f68

#### teaching history

None recorded.

#### term id

1272

#### term name

2026 Fall

#### version

2

### requirements

#### nodes

```json
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]
```

#### notes

* The requirement for REALEST 852 is simply completion of REALEST 851.

#### root

n0

#### status

parsed

### instructors

None recorded.

### offerings

None recorded.

### sections

None recorded.

### grade instructors

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```

### grades

```json
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    "term_id": "1224",
    "term_name": "Spring 2022",
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    "ab": 4,
    "b": 0,
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]
```

### statistics

#### gpa

3.795

#### graded

122

#### counts

* 81
* 32
* 9
* 0
* 0
* 0
* 0

### grade conflicts

None recorded.

### evidence

#### history

* [/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/history/course\_5a8da177c6754a6c99a12812-0.json](https://uwcourses.com/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/history/course_5a8da177c6754a6c99a12812-0.json)

#### traces

* [/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/traces/course\_5a8da177c6754a6c99a12812-0.json](https://uwcourses.com/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/traces/course_5a8da177c6754a6c99a12812-0.json)

#### results

* [/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/results/course\_5a8da177c6754a6c99a12812-0.json](https://uwcourses.com/data/e243353dcb7d79b7247ced91d69443ef4c2a6349/results/course_5a8da177c6754a6c99a12812-0.json)

### revision

e243353dcb7d79b7247ced91d69443ef4c2a6349

## context

### all

#### term



#### gpa

3.7950819672131146

#### count

122

#### university

##### size

2947

##### gpa Percentile

56

##### count Percentile

53

##### median Count

113

##### histogram

| range   | count | current |
| ------- | ----- | ------- |
| 0.0–0.4 | 0     | false   |
| 0.4–0.8 | 0     | false   |
| 0.8–1.2 | 0     | false   |
| 1.2–1.6 | 0     | false   |
| 1.6–2.0 | 0     | false   |
| 2.0–2.4 | 1     | false   |
| 2.4–2.8 | 11    | false   |
| 2.8–3.2 | 200   | false   |
| 3.2–3.6 | 728   | false   |
| 3.6–4.0 | 2007  | true    |

#### departments

```json
[
  {
    "subject": "REALEST",
    "comparison": {
      "size": 24,
      "gpaPercentile": 74,
      "countPercentile": 39,
      "medianCount": 171.5,
      "histogram": [
        {
          "range": "0.0–0.4",
          "count": 0,
          "current": false
        },
        {
          "range": "0.4–0.8",
          "count": 0,
          "current": false
        },
        {
          "range": "0.8–1.2",
          "count": 0,
          "current": false
        },
        {
          "range": "1.2–1.6",
          "count": 0,
          "current": false
        },
        {
          "range": "1.6–2.0",
          "count": 0,
          "current": false
        },
        {
          "range": "2.0–2.4",
          "count": 0,
          "current": false
        },
        {
          "range": "2.4–2.8",
          "count": 0,
          "current": false
        },
        {
          "range": "2.8–3.2",
          "count": 0,
          "current": false
        },
        {
          "range": "3.2–3.6",
          "count": 8,
          "current": false
        },
        {
          "range": "3.6–4.0",
          "count": 16,
          "current": true
        }
      ]
    }
  }
]
```

### terms

#### 1224

##### term

1224

##### gpa

3.8666666666666667

##### count

15

##### departments

| subject | comparison |
| ------- | ---------- |
| REALEST |            |

#### 1234

##### term

1234

##### gpa

3.772727272727273

##### count

22

##### departments

| subject | comparison |
| ------- | ---------- |
| REALEST |            |

#### 1244

##### term

1244

##### gpa

3.6774193548387095

##### count

31

##### university

###### size

1241

###### gpa Percentile

53

###### count Percentile

3

###### median Count

65

###### histogram

| range   | count | current |
| ------- | ----- | ------- |
| 0.0–0.4 | 0     | false   |
| 0.4–0.8 | 0     | false   |
| 0.8–1.2 | 0     | false   |
| 1.2–1.6 | 0     | false   |
| 1.6–2.0 | 0     | false   |
| 2.0–2.4 | 2     | false   |
| 2.4–2.8 | 9     | false   |
| 2.8–3.2 | 151   | false   |
| 3.2–3.6 | 373   | false   |
| 3.6–4.0 | 706   | true    |

##### departments

```json
[
  {
    "subject": "REALEST",
    "comparison": {
      "size": 15,
      "gpaPercentile": 79,
      "countPercentile": 0,
      "medianCount": 50,
      "histogram": [
        {
          "range": "0.0–0.4",
          "count": 0,
          "current": false
        },
        {
          "range": "0.4–0.8",
          "count": 0,
          "current": false
        },
        {
          "range": "0.8–1.2",
          "count": 0,
          "current": false
        },
        {
          "range": "1.2–1.6",
          "count": 0,
          "current": false
        },
        {
          "range": "1.6–2.0",
          "count": 0,
          "current": false
        },
        {
          "range": "2.0–2.4",
          "count": 0,
          "current": false
        },
        {
          "range": "2.4–2.8",
          "count": 0,
          "current": false
        },
        {
          "range": "2.8–3.2",
          "count": 0,
          "current": false
        },
        {
          "range": "3.2–3.6",
          "count": 9,
          "current": false
        },
        {
          "range": "3.6–4.0",
          "count": 6,
          "current": true
        }
      ]
    }
  }
]
```

#### 1254

##### term

1254

##### gpa

3.8035714285714284

##### count

28

##### departments

| subject | comparison |
| ------- | ---------- |
| REALEST |            |

#### 1264

##### term

1264

##### gpa

3.9038461538461537

##### count

26

##### departments

| subject | comparison |
| ------- | ---------- |
| REALEST |            |

### benchmarks

#### all

##### school

###### size

2947

###### gpa

3.684503227431485

###### top Share

83.48969667841149

###### count

113

##### REALEST

###### size

24

###### gpa

3.6735302468645687

###### top Share

82.97028786012886

###### count

171.5

#### terms

##### 1224

###### school

###### size

1171

###### gpa

3.5627882428500937

###### top Share

76.37271640560496

###### count

64

##### 1234

###### school

###### size

1188

###### gpa

3.5799441677552393

###### top Share

77.18256448537606

###### count

65

##### 1244

###### school

###### size

1241

###### gpa

3.5975573126929192

###### top Share

78.29036874847135

###### count

65

###### REALEST

###### size

15

###### gpa

3.5774675799670566

###### top Share

75.64175493354377

###### count

50

##### 1254

###### school

###### size

1289

###### gpa

3.6126423469389106

###### top Share

79.48050408754871

###### count

66

###### REALEST

###### size

14

###### gpa

3.666900217521707

###### top Share

82.50522639518604

###### count

72.5

##### 1264

###### school

###### size

1283

###### gpa

3.6229729166451925

###### top Share

80.13669149396227

###### count

66

###### REALEST

###### size

10

###### gpa

3.6564505757519656

###### top Share

83.19777602692389

###### count

84.5

## instructor Trends

```json
[
  {
    "uid": "instructor_2255a98d377dcbf609581251",
    "name": "MARK EPPLI",
    "count": 68,
    "terms": [
      {
        "term": "1224",
        "count": 15,
        "sections": 1,
        "gpa": 3.8666666666666667
      },
      {
        "term": "1234",
        "count": 22,
        "sections": 1,
        "gpa": 3.772727272727273
      },
      {
        "term": "1244",
        "count": 31,
        "sections": 1,
        "gpa": 3.6774193548387095
      }
    ]
  },
  {
    "uid": "instructor_c931827cca8e15e43521763d",
    "name": "MICHAEL BRENNAN",
    "count": 68,
    "terms": [
      {
        "term": "1224",
        "count": 15,
        "sections": 1,
        "gpa": 3.8666666666666667
      },
      {
        "term": "1234",
        "count": 22,
        "sections": 1,
        "gpa": 3.772727272727273
      },
      {
        "term": "1244",
        "count": 31,
        "sections": 1,
        "gpa": 3.6774193548387095
      }
    ]
  },
  {
    "uid": "instructor_0125ca9d1215bc2551815507",
    "name": "TIM CARR",
    "count": 28,
    "terms": [
      {
        "term": "1254",
        "count": 28,
        "sections": 1,
        "gpa": 3.8035714285714284
      }
    ]
  },
  {
    "uid": "instructor_2b3894effc9b570cb3ef2c00",
    "name": "JACQUES GORDON",
    "count": 28,
    "terms": [
      {
        "term": "1254",
        "count": 28,
        "sections": 1,
        "gpa": 3.8035714285714284
      }
    ]
  },
  {
    "uid": "instructor_295182bc32058ea5992374ec",
    "name": "PAUL MELKUS",
    "count": 26,
    "terms": [
      {
        "term": "1264",
        "count": 26,
        "sections": 1,
        "gpa": 3.9038461538461537
      }
    ]
  }
]
```

## following

None recorded.
