Master of Real Estate and Infrastructure

Term 1

 12.00 Course Credits

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• PROP 6001 0.00 LEADERSHIP IN REAL ESTATE AND INFRASTRUCTURE I

  This course develops the thinking and reflective skills required for leadership in a turbulent world, with specific emphasis on real estate and infrastructure. It explores contemporary leadership challenges and opportunities, and introduces students to thinking techniques relevant for complex contexts. This course is noncredit and the first part of a three-course sequence.

• PROP 6100 3.00 REAL ESTATE FINANCE & INVESTMENT

  This course provides the requisite quantitative skills for analyzing real estate investments and fosters development of a critical perspective in financial decision-making. It covers valuation techniques, cash flow modeling, development feasibility analysis, tax considerations, debt and equity financing, risk assessment and also examines strategic and tactical investment considerations. The course uses a prescribed text, case studies, problem sets and group assignments and has a quantitative focus. Use of financial calculators and personal computers is required.

  MBA Prerequisite: All 5000-series Required Foundations of Management Core Courses.
  MBA Corequisite: SB/PROP 6200.030 or permission of the instructor

• PROP 6150 3.00 ECONOMIC FORCES SHAPING THE CITY

  Those who shape cities must understand the fundamental economic forces at work and the resulting spatial pattern of activities that sustain city life. The course contributes to an understanding of these forces and the role they play in achieving a better built environment. This includes a theoretical perspective as well as the skills and knowledge to make wise decisions.

• PROP 6200 3.00 DEVELOPMENT PROTOTYPES

  This course deals with development, developers, and the products that they create. The course provides an understanding of the business of real estate development, insights into the economic, functional, technical, and aesthetic factors that shape dominant building forms, and an understanding of the link between demand and product development. Course content spans an understanding of the spatial economy of cities-where economic activity occurs and why-to the interaction between demand and supply in the marketplace, a detailed examination of the products that are shaped by market forces, and an overview of new prototypes that are emerging to meet emerging demands. The course is delivered through a combination of lectures, case studies, and guest speakers from industry.

  MBA Pre-requisites: All 5000-series Required Foundations of Management Core Courses.
  Co-requisites: PROP 6100 3.00 or permission of the instructor.

• PROP 6300 3.00 INFRASTRUCTURE DELIVERY MODELS

  Infrastructure is an international business of increasing scope, complexity and scale that typically involves both the public and private sectors in various partnership arrangements. This course examines the many "moving parts" of this business and explores the various partnership models that are being employed to address a variety of social and economic infrastructure needs.

  Note: Open to MREI students only.

Term 2

15.00 Course Credits

• PROP 6002 0.00 LEADERSHIP IN REAL ESTATE AND INFRASTRUCTURE II

  This course develops the reflective and interpersonal skills required for effective leadership in a relationshipbased sector such as real estate and infrastructure. Through lectures, exercises and self-assessments, students will enhance their self-awareness, context-awareness and ability to work with others in order to make a positive leadership difference. This course is non-credit and the second part of a three-course sequence.

• PROP 6050 3.00 CHANGING LANDSCAPES - HISTORICAL PERSPECTIVES ON THE INDUSTRY

  This course examines the key factors, firms, and personalities that have shaped urban development, ranging from the economy to technology, government policy, culture, industry structure, and people/firms that have made a difference over time. The course analyzes the past to better understand trends that will shape the future of real estate and infrastructure development in Canada and abroad.
  Only available to MREI students.

• PROP 6400 3.00 INFRASTRUCTURE INVESTMENT AND FINANCE

  This course examines project viability and risk, ownership and contractual structures, funding sources, and financial structuring for infrastructure projects. It also introduces infrastructure as an asset-class and provides an overview of the international infrastructure market with focus on the demand for infrastructure assets and expected capital requirements.
  Prerequisite: PROP 6300 3.00
  Open to MREI students only

• PROP 6450 3.00 LIFE OF A PROJECT

  This course deals with the phase between conceptual development of an asset and its occupancy/operation. Content is covered from the perspective of the owner/client ranging from project initiation to what embodies final success for various stakeholders. Management processes, roles/responsibilities, stakeholder engagement, and delivery models are examined to understand how project structure can meet project objectives.
  Only available to MREI students.

• PROP 6550 3.00 SUSTAINABLE CITIES - URBANIZATION INFRASTRUCTURE & STRATEGIC CHOICES

  The course provides an understanding of issues related to the pace of urbanization across the globe and the impact on the demand for new infrastructure. The challenges for both developing and developed countries is examined from the perspective of potential new strategies, new technologies, new business models and new financing techniques that can begin to make a difference in addressing a full range of infrastructure needs. In terms of sustainability, this will include an understanding of the demand side and supply side, cultural factors, and the policy framework.

• PROP 6850 3.00 STRUCTURING DEVELOPMENT TRANSACTIONS

  This course addresses considerations involved when structuring real estate and infrastructure development transactions. This course provides a basic understanding of the theories, techniques, and institutions involved in legally controlling the possession, use, and preservation of development rights. This course also addresses transactional details from inception into operation of development projects.
  Prerequisites: PROP 6100 3.00 and PROP 6200 3.00.

Term 3

12.00 Course Credits (1 elective and 2 core courses)*

• PROP 6003 3.00 LEADERSHIP IN REAL ESTATE AND INFRASTRUCTURE III

  This course applies the skills developed in PROP 6001 and PROP 6002 to the real estate and infrastructure industry context. It examines a variety of leadership roles, styles and situations drawn from the real world and provides an opportunity for students to interact with industry leaders. Students develop a personal growth plan and receive credit on a pass-fail basis.

• PROP 6080 6.00 CREATIVE WORKSHOP

  Each year a major project will serve as the framework for this capstone course. This is a workshop structured to promote self-awareness, curiosity, and creative thinking. Students will be expected to generate solutions, visualize results, adapt results to meet real constraints, and convince others of the efficacy of their solutions.
  Only available to MREI students.

Elective

Choose one of:

• PROP 6650 3.00 COMMERCIAL REAL ESTATE ASSET MANAGEMENT

  This course examines strategies for adapting to change so as to optimize the performance of commercial real estate assets during the investment holding period. It addresses leasing, capital expenditure planning, revenue enhancement, re-positioning, re-development and the hold/sell decision. Attention is paid to the four major property types. Students will conduct primary research and learn from real-world case studies.
  Prerequisite(s): SB/PROP 6100 3.0 and SB/PROP 6200 3.0.

• PROP 6780 3.00 CASE STUDIES IN INFRASTRUCTURE

  This course draws upon selected infrastructure projects to expose students to the perspectives of key stakeholders involved in infrastructure development, delivery and management, including investors, financiers, contractors, designers, politicians, end-users and policy-makers. Selected cases will be subject to in-depth analysis conducted through a combination of lectures using the case method, presentations by project stakeholders, and site visits.

  Prerequisite: PROP 6300 3.00

* Courses taken during Term 3 will be offered on evenings and weekends. Students will be encouraged to pursue internships or undertake research during Term 3 to enhance experienced-based learning.