Real Estate & Infrastructure

Students must complete 12.00 credits total, consisting of:

• 6.00 credits of Required Courses
• 6.00 credits of recommended Elective Courses

Required Courses:

• 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 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.

Elective Courses:

• PROP 6350 3.00 INVESTING IN INFRASTRUCTURE

  This course 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. It provides a comparison of infrastructure investments to other asset-classes, an examination of experienced/largest infrastructure investors, and overview of investment evaluation criteria.
  Prerequisites: PROP 6300 or with instructor permission.

• PROP 6500 3.00 INFRASTRUCTURE DELIVERY AND FINANCE

  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 rapidly expanding business and explores the various delivery and financing models that are employed to address social and economic infrastructure needs.

  Prerequisites: All 5000-series Foundations Core Courses.

• 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 6600 3.00 REAL ESTATE PORTFOLIO MANAGEMENT

  This course deals with the spectrum of investment styles, structures and strategies employed in the creation and management of institutional real estate investment portfolios in both the private and public markets. It includes a review of portfolio theory in a real estate context; examination of the concepts of risk, return, and diversification and how they influence portfolio planning decisions; consideration of the advantages and disadvantages of various investment vehicles; and the consequences of international diversification on portfolio performance.

  Prerequisite: PROP 6100 3.00

• 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

• 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.

Prerequisite requirements for these electives require a strict sequencing of elective PROP courses. Depending on their point of entry, some students may need to extend their study duration in order to follow the required sequence in pursuance of the specialization.

^{NOTE: Not all courses required to fulfill a specialization are offered each term. Course offerings are based on factors such as student demand and instructor availability. The office of Student Services & International Relations is available to provide advising on course sequencing and the fulfillment of program and specialization requirements within a student’s period of study. For current course offerings and details, please view the Schulich Course Offerings Database.}