The Rutgers MBA concentration in Real Estate is designed to provide students with the in-depth understanding of property and property markets and tools necessary to succeed in the real estate industry.
The concentration is built on four core courses: Aggregate Economic Analysis, Real Estate Finance, Real Estate Law and Development. Aggregate Economic Analysis (22:223:591) serves as an introduction to macroeconomics and economic policy making at the national level.
Real Estate Finance (22:390:695) offers students an in-depth understanding of applied financial economics and the background and tools necessary to analyze income-producing property from the perspective of an institutional investor. Students will use lease and market information to develop pro forma cash flow projections for a given property and evaluate the risk and return associated with an investment.
The third component of the core is Real Estate Law (22:851:650) which offers an overview of the legal issues confronting the real estate executive beginning from the commencement of a real estate transaction and throughout the relationship between the various parties to such transactions.
Finally, Real Estate Development (22:851:632) examines the commercial real estate development process, focusing on typical strategies, challenges, and risks, as well as providing an overview of the basics of development finance and value.
Part-time MBA students entering the program prior to Spring 2025 may follow either the pre-spring 2025 concentration or the current concentration.
Students can now earn a STEM MBA. To qualify, students must take a minimum of half of their credits in STEM-designated courses (25-30 credits). The Core Curriculum provides 9 STEM credits. Please use the STEM Link below to view all STEM courses.
| Full-Time MBA: 18 Credits | |
|---|---|
Required Courses | 12 Credits |
Electives | 6 Credits |
| Part-Time MBA Primary Concentration: 15 credits | |
|---|---|
Required Courses | 12 Credits |
Electives | 3 credits |
| Part-Time MBA Secondary Concentration: 12 credits | |
|---|---|
Required Courses | 9 Credits |
Electives | 3 Credits |
Dual Primary Concentration Requirements:
Students pursuing a dual concentration in Finance and Real Estate, the credits received by completing Aggregate Economic Analysis count toward both concentrations.
Restrictions:
*For secondary concentration, Development may only be used as an elective.
| Course # | Course Name | Credit(s) | STEM (Y/N) |
|---|---|---|---|
| 22:223:591 | Aggregate Economic Analysis | 3 | Y |
| 22:390:695 | Real Estate Finance | 3 | Y |
| 22:851:632 | Development * | 3 | N |
| 22:851:650 | Real Estate Law | 3 | N |
*For secondary concentration, Development may only be used as an elective.
| Course # | Course Name | Credit(s) | STEM (Y/N) |
|---|---|---|---|
| 22:390:605 | Advanced Financial Management | 3 | Y |
| 22:390:673 | Real Estate Capital Markets | 3 | N |
| 22:620:617 | Negotiations | 3 | N |
| 22:851:630 | Market Analysis & Valuation in Real Estate | 3 | Y |
| 22:851:660 | Property Management & Real Estate Investment Management | 3 | N |
Introduces theory and empirical estimation of aggregate economic relationships, including the general price level, income, output, employment, and wages. Covers national income accounting and other economic data sources, consumption, investment, the banking system, and the supply of and demand for money, interest rates, prices, wages and employment, business fluctuations, and international economics.
Prerequisite: Managerial Economic Analysis (22:223:521 (FT) / 22:223:581 (PT))
Examines the problems faced by the corporate financial manager on the theoretical, analytical, and applied levels. The impact of the financing decision upon the value of the firm is analyzed. Theoretical and analytical aspects of the capital budgeting decision are examined in detail with emphasis on methods of incorporating risk into the capital budgeting decision. An analytical framework is presented to evaluate leasing, bond refunding, and mergers and acquisitions. Theories of corporate governance are discussed.
Prerequisite: Aggregate Economic Analysis (22:223:520 (FT) / 22:223:591 (PT)), Financial Management (22:390:522 (FT) / 22:390:587 (PT))
Real Estate Capital Markets focuses on debt and equity issues in secondary markets that derive their value from real assets. The course includes an overview of the US mortgage finance system, agency and non-agency residential mortgage-backed securities, structured mortgage products such as collateralized mortgage obligations, collateralized debt obligations and stripped securities, commercial mortgage-backed securities, real estate investment trusts and limited partnerships. Coursework involves basic fixed-income mathematics and cash flow modeling in Excel.
The central objective of this course is to provide you with the background and tools necessary to analyze value, risk, and return in property markets. The initial emphasis of the course is on mortgage finance and applications and is dedicated to providing an understanding of mortgage structure and mechanics in both residential and commercial markets. The focus then shifts to the evaluation of investment in property markets from the perspective of an institutional investor. This is accomplished by developing projections of future cash flows from a given property and using them to construct measures of value, risk and return and consider their sensitivity to changes in base assumptions. Extensions include tax issues, the relationship between value, returns and leverage, structuring the distribution of cash flows in partnership agreements and/or real options. The course also provides extensive training and certification in ARGUS, a real estate industry-standard software package used for entering and compiling lease information.
Provides an introduction to the principles, practice, and processes of negotiations as a management skill with bosses, subordinates, peers, clients, and customers. Discussion of the preparation and planning for negotiation, the strategy and tactics of negotiation, issues regarding both distributive and integrative bargaining, and ethics in negotiation.
This course surveys the principles and tools of appraising various types of real estate, as well as an analysis of value, price, property, and legal rights. Topics include principles of valuation; the real estate market; the relationship between real estate values and economic, social, and government trends; economics of urbanization, including location, value, and highest and best use; neighborhood analysis and approaches to cost, market data, and income valuation.
This course provides an introduction and overview of real estate development of urban places, including the many challenges of the development process such as analyzing market sectors and development opportunities, comprehending the development context of regulation, public policy and politics, raising investment capital, assembling land, program formulation, building types, construction management, marketing, and sales. Examples of development projects will be presented, each focusing on particular aspects of the overall process.
This course provides an overview of the legal issues which confront the real estate executive from the commencement of a real estate transaction and throughout the relationship between the parties to such transactions. While many traditional real property law concepts will be covered, the course is intended as an introduction to the transactional aspects of the real estate business, including acquisition, disposition, development, investment, management, leasing, tax implications and negotiations. At the conclusion of the course, students will have the ability to function with respect to these matters in many of the various aspects of real estate business.
The course will take students through world of real estate investment management, management company organization, and the role and responsibilities of the property and asset managers. Topics include real estate operations, types of ownership, property leasing & governance, financial and risk management, property accounting, financial reporting, tax treatment, acquisitions & sales, and strategic planning.
Prerequisites: Real Estate Finance (22:390:695) and Real Estate Law (22:851:650)