Real Estate and Urban Land Economics course catalog
All 41 recorded UW–Madison courses in this department, including courses not offered this term. Open a course for prerequisites, historical grades and instructors.
AAE/ECON/REALEST/URBRPL 306: The Real Estate Process
3 credits
Introductory overview focused on the key aspects of the real estate process: developing real estate, permitting real estate, buying and selling real estate, understanding the economics of real estate, financing real estate, valuing real estate, leasing real estate, and managing real estate.
AAE/REALEST/URBRPL 520: Community Economic Analysis
Credits unavailable
Economic theory (location and growth) applicable to community economic development; the role of private and public sector in local economic development, and techniques for economic analysis of community.
ECON/REALEST/URBRPL 420: Urban and Regional Economics
3 credits
Focuses on the study of the allocation of scarce resources across space. Uses economic methods to analyze urban real estate. Topics covered include the determinants of real estate values, the location decisions of households and firms, land use, urban growth and agglomeration, real estate pricing, cycles, development, housing market and policies, and sustainable development.
REALEST 365: Contemporary Topics
1–3 credits
Exploration of subject areas possibly to be introduced into the business curriculum.
REALEST 399: Reading and Research-urban Land Economics
Credits unavailable
Individual work suited to the needs of undergraduate students.
REALEST 410: Real Estate Finance
3 credits
Fundamentals of real estate finance and investment. Qualitative and quantitative characteristics of commercial real estate. Developing and analyzing commercial property cash flow projections. Introduction to three approaches to valuation with emphasis on investing in commercial real estate. In-depth exposure to debt and equity investor returns.
REALEST 411: Real Estate Excel Modeling
1 credits
Introduction to real estate modeling. Building a real estate model for acquisition and development transactions for residential and commercial real estate using Excel. How to source market data, draw assumptions from market data, input assumptions, make decisions using reports, perform sensitivity analysis on model inputs, and explain terminology used in residential and commercial real estate.
REALEST 412: Real Estate Argus Modeling
1 credits
Introduction to real estate modeling using ARGUS. ARGUS will be used to build a real estate model for acquisition transactions for office and retail mall properties. Learn how to input assumptions, make decisions using reports, perform sensitivity analysis on model inputs and explain terminology used in Office and Retail real estate.
REALEST 415: Valuation of Real Estate
3 credits
Techniques of real estate valuation. Property analysis, market analysis, legal and political analysis, and highest and best use analysis; in-depth exposure to the three approaches to valuation; sales comparison, income, and cost; application to main commercial property types; the role of valuation in real estate investment.
REALEST 425: Real Estate Law
3 credits
Analyzes current issues in real estate law with a focus on the acquisition, leasing, financing, and development of real estate projects. Includes a big picture view of these topics as well as analyzing them in the specific context of various development deals underway across the United States.
REALEST 435: Fair Housing Studies
Credits unavailable
Explore the causes and consequences of inequities in the housing market. Inequities can be the result of discriminatory behavior by individuals or institutions, market forces, and government policy. Address these issues from both historical and present-day perspectives.
REALEST 530: Real Estate Investment Analysis
3 credits
A capstone focused on comprehensively underwriting commercial real estate. Investment analysis will be performed for a variety of real estate property types from the perspective of various real estate professionals, such as the property/asset manager, finance professional, leasing broker, acquisitions specialist, portfolio manager, and investment legal/risk team. The investment analysis will emphasize the importance of value-creation through capital investment and effective income and expense management.
REALEST 540: Public Real Estate Equity Investment
Credits unavailable
Understanding and applying both investment and real estate concepts to the Real Estate Investment Trust (REIT) market. Emphasis is on applying investment and real estate concepts to a specific REIT.
REALEST 550: Private Real Estate Equity Investment I: Analysis and Structures
Credits unavailable
Introduction to real estate private equity investment focused on the analysis, terms, return metrics, and structures used to make real estate private equity investment decisions.
REALEST 560: Affordable Housing
3 credits
Gain foundational knowledge on the affordable housing development sector. Includes examination of the political and bureaucratic context and technical and analytical skills necessary to compete for and employ available financial tools to create and preserve affordable housing. Emphasis is placed on the Low-Income Housing Tax Credit (LIHTC) and common challenges including local resistance.
REALEST 611: Residential Property Development
Credits unavailable
In-depth exposure to the world of the residential builder/developer/subdivider and the necessary tools of analysis--market analysis, zoning/environmental and other entitlements, site planning and design, infrastructure/construction cost analysis, financing, feasibility analysis, deal structuring, renovation/rehabilitation, special needs housing.
REALEST 640: Real Estate Capital Markets
3 credits
Thorough discussion of how public real estate investment products such as Mortgage-Backed Securities (MBS) and Real Estate Investment Trusts (REIT) are structured and how investors price them. Exploration of key strategic considerations for institutional investors in their real estate investments. Analysis of the equity side of real estate, review of mortgage math, analysis of MBS and real estate equity investments by looking at specific REITs.
REALEST 651: Green - Sustainable Development
3 credits
Intended for students who have an interest in Green and Sustainable aspects of housing and commercial property development and operation, the re-use and/or rehabilitation of existing structures, redevelopment of historic buildings into housing or commercial space and related special topics such as financing sources, tax issues, financial structuring, legal issues and energy cost management.
REALEST 661: Real Estate Investment Analysis and Presentation
Credits unavailable
Real-world capstone experience of the real estate investment process from project conception to asset disposition with particular focus on analysis and presentation. Provides exposure to best known methods and practices that private equity and development firms use to conduct market research, project selection, financial feasibility, regulatory review, design considerations, construction management, debt financing, equity placements, equity waterfalls, property management, asset management and disposition. Develop an interdisciplinary understanding of the many facets of the acquisition and development process in the U.S. and have an insightful understanding of the risks and rewards along each step of the process.
REALEST 701: The Real Estate Process
Credits unavailable
Introduction to the survey of institutional context, economics of urbanization, historical pattern and structure of city growth, and public policy issues regarding urban environment and business management. Decision-making processes for the manufacture, marketing, management, and financing of real estate space.
REALEST 702: Commercial Property Analysis
Credits unavailable
Introduction to various techniques to analyze commercial real estate value and investment risks. Analysis of real property through an understanding of the legal, physical, and economic characteristics of a site and building. Analyze real estate markets to forecast future rental income and vacancies. Develop an operating pro forma and basic investment model, forecast future cash flows, and learn to estimate the market value of commercial properties.
REALEST 703: Real Estate Investment Analysis
Credits unavailable
Introduction to static property income proforma and dynamic property discounted cash flow analysis. Applied learning from active real estate private equity offering memoranda. Analyze capital investments across the real estate risk spectrum from low-risk core income-producing properties to value-add opportunities to high-risk development and redevelopment investments.
REALEST 706: The Real Estate Process
Credits unavailable
Institutional background of real property; economics of urbanization, supply and demand; building industry, real estate credit, cyclical fluctuation, rents and prices, real estate market analysis; city growth, structure and planning, land use control, urban redevelopment and real estate investment analysis.
REALEST 710: Real Estate Finance
3 credits
Evaluating the role of financing and leverage in real estate investment analysis; identifying alternative types of financing; valuation of financial structure; sources of equity financing for real estate; mortgage securitization and the operation of secondary mortgage markets.
REALEST 712: Real Estate Law
Credits unavailable
Advanced principles of real estate law related to ownership rights, negotiations, brokering, transfers, condominium law, financing, income tax law, real estate property taxation, bankruptcy law, construction and development contracts, and residential and commercial leases, and an overview of international legal systems.
REALEST 715: Techniques of Real Estate Valuation
3 credits
Topics include highest and best use and most probable use analysis, statistical methods for developing adjustment factors and comparable selection for the market comparison approach, discounted cash flow analysis and income capitalization, and cost approach methods. Issues in appraisal ethics and federal requirements for appraisal practice.
REALEST 750: Commercial Property Development
3 credits
Creating industrial real estate, office space, shopping centers, and hotel/recreation facilities, including strategy, market and feasibility analysis, site planning/design, capital cost analysis, construction, and financial structuring. Emphasis on case studies and project analysis.
REALEST 760: Lawyering the Development Deal: a Practical Guide to Real Estate Law
3 credits
Analyze current issues in real estate law with respect to the acquisition, leasing, financing, and development of real estate projects. Explore topics in the context of specific development projects across the US.
REALEST 765: Contemporary Topics
1–4 credits
Exploration of advanced subject areas possibly to be introduced into the business curriculum.
REALEST 770: Commercial Real Estate Finance
Credits unavailable
A capstone focused on advanced topics in commercial real estate finance. Covers 1) Financial Derivatives, 2) Risk Management, and 3) Structured Finance. Address relevant topic areas and develop methodological skills. Industry professionals provide real world markets perspective.
REALEST 799: Reading and Research-urban Land Economics
Credits unavailable
Individual work suited to the needs of graduate students may be arranged both during regular sessions and the intersession periods.
REALEST 841: Applied Real Estate Investment Track (areit) I
6 credits
Focuses on investment processes, guidelines, governance, underwriting, company valuation, sector analysis and portfolio analysis. Allows selected students to function as portfolio managers by investing real money (endowment to the real estate program) in listed real estate companies, primarily real estate investment trusts (REITs).
REALEST 842: Applied Real Estate Investment Track (areit) II
Credits unavailable
An additional experiential learning in the areas of investment processes, guidelines, governance, underwriting, and portfolio analysis. Function as portfolio managers by investing real money (endowment to the real estate program) in listed real estate companies, primarily real estate investment trusts (REITs).
REALEST 851: Private Real Estate Equity Investment Ii: Underwriting and Investment Processes
6 credits
Focuses on the real estate private equity organization through constructing investment criteria statements, vetting investment opportunities, implementing investment processes, and presenting the opportunities to the WREAA Fund Investment Committee.
REALEST 852: Private Real Estate Equity Investment Iii: Guidelines, Governance, and Portfolios
Credits unavailable
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.
REALEST 870: Advanced Real Estate Finance Theory
Credits unavailable
An overview of theoretical and empirical research on real estate, with a focus on real estate finance. The topics covered are intended to expose some of the major contributions in real estate research as well as a consideration of the current trends and methodological advances in recent papers.
REALEST 875: Advanced Urban Land Economics
3 credits
Provides an overview of theoretical and empirical research on real estate and urban economics, with a focus on asset liquidity and place-based policies.
REALEST 978: Research Seminar in Real Estate and Urban Land Economics
1 credits
Explore cutting-edge research on urban economics and real estate being conducted across different universities. Invited speakers will describe current or past research, identify challenges involved in their work, and highlight research conceptualization, approaches, methods, and/or data analysis, to better understand how to execute a research project.
REALEST 990: Real Estate Independent Research Phd Thesis
1–12 credits
Individual work to complete dissertation requirement of Ph.D. program.
REALEST 999: Reading and Research-real Estate Phd
1–6 credits
Individual work suited to the needs of Ph.D. students may be arranged both during regular sessions and during the intersession periods.
REALEST/URBRPL 720: Urban Economics
3 credits
Analysis of spatial relationships in the urban economy, including urban land, labor and housing markets; urban transport; city governance and finance; and regional models. Historical and applied focus. Interdisciplinary approach emphasizing economics, geography, and planning.