MREI Offers Real World Negotiation Training
In connection with the Structuring Development Transactions course offered in the Master of Real Estate and Infrastructure program, Brookfield Centre in Real Estate and Infrastructure professor Sherena Hussain developed a hands-on assignment where students negotiated a joint venture agreement for a real estate mixed-use development.
Students were divided into teams and given the role of either a developer or investor. Both teams had to apply their understanding of legal concepts and real estate and infrastructure development tools to prepare a graded negotiation strategy. To enhance the experiential learning of this exercise, industry and legal professionals coached teams as to the realistic nature of their negotiation strategy. Following the coaching session, teams were paired and engaged in an hour and a half negotiation in the presence of senior industry leaders who judged the outcome of the negotiation.
“What made this event unique was all the judges as well as legal and industry coaches in the negotiation were senior industry leaders who are either alumni of the MBA and MBA-JD program or instructors of our program,” Professor Hussain said.
“It was engaging, thought-provoking and as our advisors mentioned; very similar to what occurs in the real world,” MREI Candidate Ahmed Zayed said. “It made us digest an entire agreement and be aware of all its articles and implications, while forcing us wear both developer and investor hats.”
The joint venture exercise is an example of the experiential classroom approach to industry specific skill development that is offered in Schulich’s Master of Real Estate and Infrastructure.