2023-2024 Undergraduate Bulletin

Real Estate & Construction Management

Office: Daniels College of Business, Room 380
Mail Code: 2101 S. University Blvd. Denver, CO 80208 
Phone: 303-871-3432
Web Site: http://daniels.du.edu/burns

The Franklin L. Burns School of Real Estate and Construction Management at the Daniels College of Business provides a one-of-a-kind education. With an emphasis on the business of the built environment, The Burns School programs are designed to equip you with the skills necessary to succeed. Our degrees provide students with an understanding of the full life cycle of the built environment while acquiring expertise in a specific education discipline of their choice. This is an advantage because courses are taught from a managerial point of view, as opposed to the strictly technical programs often found in schools of architecture, engineering or technology. Finance, marketing, accounting and management are integrated into your degree to provide an even greater competitive edge. Students in the Burns School have the opportunity to see classroom theory come alive in the city of Denver, a wonderful urban laboratory for applications, research and internships.

The placement record for Burns School graduates has traditionally been very strong. Most of these jobs are a result of professor-industry contacts. Careers for students interested in Real Estate include acquisitions, real estate finance/underwriting, real estate development, investment fund/asset managers, property management, real estate appraisers, real estate asset management, real estate leasing, and transactions/brokerage. On the Construction Management side, careers include project management, corporate real estate, facilities management, and cost estimators. 

Students interested in advanced degrees go on to the Burns School Master of Science in Real estate and the Built Environment, Law school or MBA programs at the University of Denver and other highly respected universities.

Real Estate and the Built Environment

Bachelor of Science in Business Administration Major Requirements

(185 credits required for the degree)

Minimum of 44 credits. Requirements include:

Complete the following Real Estate and the Built Environment Major Core Requirements then select one Concentration; Real Estate, Real Estate Development or Construction Project Management for a total of 44 credit hours.28
REAL 1700Fundamentals of Real Estate and the Built Environment4
REAL 3307Real Estate Finance4
REAL 3007Real Estate Financial Analysis4
REAL 3357Corporate Real Estate and Management4
REAL 3438Legal Aspects of Real Estate and the Built Environment4
CMGT 2170Construction Building Systems4
CMGT 2300Introduction to Architecture and Design Management4

Real Estate Concentration Requirements: (Select any 4 Electives listed below)

REAL 3010Real Estate Capital Markets4
REAL 3317Real Estate Valuation and Appraisal 4
REAL 3367Development and Feasibility4
REAL 3369Real Estate Taxation4
or REAL 3337 Real Estate Securities and Syndications
REAL 3377Real Estate Investment Seminar4
Total Credits16

Real Estate Development Concentration Requirements: (Select any 4 Electives listed below)

REAL 3210Planning, Entitlements, and Public Finance4
REAL 3367Development and Feasibility4
REAL 3377Real Estate Investment Seminar4
CMGT 3155Sustainable Development4
CMGT 3190Residential Development4
Total Credits 16

Construction Project Management Concentration Requirements: (Select any 4 Electives listed below)

CMGT 3100Construction Estimating4
CMGT 3120Construction Scheduling and Project Controls4
CMGT 3155Sustainable Development4
CMGT 3177Environmental Systems and MEP Coordination4
CMGT 3480Construction Project Management4
Total Credits16

Elective: (REBE students are able to substitute one of the Concentration electives listed above.)

REAL 3140International Immersion in the Built Environment 14
1

Can count towards international experience requirement.

Real Estate Minor Requirements

20 credits as follows: 

REAL 1700Fundamentals of Real Estate and the Built Environment4
REAL 3307Real Estate Finance4
REAL 3007Real Estate Financial Analysis4
Select two courses from the following:8
Real Estate Capital Markets
Real Estate Valuation and Appraisal
Development and Feasibility
Real Estate Taxation
Real Estate Investment Seminar
Legal Aspects of Real Estate and the Built Environment
Total Credits20

Real Estate Development Minor Requirements

20 credits as follows: 

REAL 1700Fundamentals of Real Estate and the Built Environment4
REAL 3307Real Estate Finance4
REAL 3007Real Estate Financial Analysis4
REAL 3210Planning, Entitlements, and Public Finance4
CMGT 2170Construction Building Systems4
Total Credits20

Construction Project Management Minor Requirements

20 credits as follows: 

CMGT 2170Construction Building Systems4
CMGT 2300Introduction to Architecture and Design Management4
CMGT 3100Construction Estimating4
CMGT 3120Construction Scheduling and Project Controls4
CMGT 3480Construction Project Management4
Total Credits20

Requirements for Distinction in the Major in Real Estate and the Built Environment

Students participating in the University Honors Program, and students with a 3.85 cumulative GPA or higher upon reaching 90 hours completed, are invited to create a portfolio of in-depth business experiences to earn Distinction. See Daniels Undergraduate Programs or faculty in the department for more information. 

Real Estate and Construction Management

This course plan is a sample schedule only. Individual course plans will vary based on incoming transfer credit, admission path to Daniels, prerequisites, availability of courses, minors, and other scheduling factors. You MUST meet with your Daniels academic advisor to develop an individual graduation plan for your specific needs.

First Year
FallCreditsWinterCreditsSpringCredits
First-Year Seminar (FSEM)4WRIT 11224WRIT 11334
BUS 14404Foreign Language (FOLA) 24Foreign Language (FOLA) 34
MATH 120014INFO 10104INFO 10204
Foreign Language (FOLA) 14INFO 10110INFO 10210
 ECON 10204MGMT 21004
 BUS 10990 
 16 16 16
Second Year
FallCreditsWinterCreditsSpringCredits
ACTG 22004ACTG 23004FIN 28004
LGST 20004BUS 30004SI Natural - Science 34
REAL 17004INFO 20204MKTG 28004
BUS 20990SI Natural - Science 24CMGT 23004
SI Natural - Science 14 INTZ 250142
 16 16 18
Third Year
FallCreditsWinterCreditsSpringCredits
Study Abroad516MGMT 30004CMGT 21704
If not studying abroad:CMGT 2300, CMGT 2170 BUS 30990REAL 30074
 REAL 33074REAL 33574
 REAL 34384ASEM Advanced Seminar4
 AI or SI Society4 
 16 16 16
Total Credits: 146

Fourth Year Concentration Option: Real Estate

Fourth Year
FallCreditsWinterCreditsSpringCredits
BUS 38004REAL 336974REAL 336774
REAL 337774REAL 331774REAL 301074
AI or SI Society4General Elective4General Elective4
AI or SI Society4  
 16 12 12
Total Credits: 40

Fourth Year Concentration Option: REAL Estate Development

Fourth Year
FallCreditsWinterCreditsSpringCredits
BUS 38004AI or SI Society4REAL 321084
CMGT 315584AI or SI Society4REAL 336784
CMGT 319084General Elective4General Elective4
REAL 337784  
 16 12 12
Total Credits: 40

 Fourth Year Concentration Option: Construction Project Management

Fourth Year
FallCreditsWinterCreditsSpringCredits
BUS 38004CMGT 310064CMGT 317764
CMGT 315564CMGT 312064General Elective4
AI or SI Society4CMGT 34804AI or SI Society4
General Elective4  
 16 12 12
Total Credits: 40
1

Fulfills Analytical Inquiry: The Natural and Physical World

2

Common Curriculum Requirements

3

Fulfills Scientific Inquiry: Society and Culture

4

INTZ 2501 Exploring Global Citizenship is required for any student who studies abroad, and may be taken in any quarter within the year prior to studying abroad.

5

If NOT studying abroad: CMGT 2170, CMGT 2300 and 2 General Electives. Please note, if not studying abroad you MUST take 4 credits of an International Elective.

6

Construction Project Mgmt Concentration students are required to choose four of the following: CMGT 3100, CMGT 3120, CMGT 3155, CMGT 3177 or CMGT 3480

7

Real Estate Concentration students are required to choose four of the following: REAL 3010, REAL 3317, REAL 3337 or REAL 3369, REAL 3367, REAL 3377

8

Real Estate Development Concentration students are required to choose four of the following: REAL 3210, REAL 3367, REAL 3377, CMGT 3155 or CMGT 3190

Common Curriculum requirements in the First Year are generally satisfied through the sequential full-year foreign language (FOLA) requirement.

Common Curriculum requirements in the Second Year are generally satisfied through the sequential full-year Scientific Inquiry: Natural requirement. 

CMGT 2170 Construction Building Systems (4 Credits)

A survey of residential and commercial construction materials, means, and methods associated with the various structural and architectural systems used to design and construct buildings. Project plans and specifications are incorporated to teach the basic sequencing and overall construction process. The influence of sustainability in construction is introduced. This class will also have an off campus , experiential learning lab associated with it.

CMGT 2300 Introduction to Architecture and Design Management (4 Credits)

This course introduces students to the significant value that architecture brings to real estate and the built environment and the various services and professions associated with it. Students are introduced to principles, protocols and the planning process related to the design function and the link between the architect's vision and the finished physical structure. Students are introduced to design thinking theory and application. Students learn to read and interpret the various graphical and written construction documents, know how they are developed and what information they contain. Coverage of architectural, structural, mechanical, electrical, plumbing, and civil drawings and specifications. The business model for design services is explored as well as the unique risks and challenges associated with managing the design throughout the various stages of development and construction. Experiential learning lab is associated with this course.

CMGT 3100 Construction Estimating (4 Credits)

This course is designed to provide the student with the theory, principles and techniques of quantity analysis (take-off), labor determinations, overhead and profit analysis. It offers insight into the construction estimating process. The role of the estimator, types of estimating, CSI Divisions, bid/contract documents, change order pricing, design/build projects, and estimation compilation will be introduced. Discussions regarding the cost/benefit of sustainable materials and typical construction materials will enhance the requisite knowledge of construction estimating. Prerequisites: CMGT 2300 and CMGT 2170. This course also has a required lab. This course is a Co/Prerequisite for CMGT 3120.

CMGT 3120 Construction Scheduling and Project Controls (4 Credits)

Understanding and applying scheduling and control to construction projects is essential to successful construction management. Project scheduling emphasizes network-based schedules, such as critical path management (CPM), network calculations, critical paths, resource scheduling, probabilistic scheduling and computer applications. Project control focuses on goals, flow of information, time and cost control, and change management. Pre/Corequisites: CMGT 3100.

CMGT 3155 Sustainable Development/LEED (4 Credits)

The course includes many case studies of historic and contemporary structures exemplifying various sustainability features. Emphasis will be placed on how LEED project certification influences the overall construction project. Topics will include LEED certification techniques for sustainable sites, water efficiency, energy & atmosphere, materials & resources, indoor environmental quality, innovation and design. The following topics will be covered from a LEED perspective: ventilation, air conditioning, heating, electrical lighting, energy efficiency, and building control systems. The student will study and analyze how management and LEED techniques are applied to current construction projects. Prerequisites: REAL 1700, CMGT 2170, CMGT 2300, and REAL 3438.

CMGT 3177 Environmental Systems and MEP Coordination (4 Credits)

A study of electrical and mechanical systems (MEP) used in the construction of buildings. Course content includes system design, component selection and utilization for energy conservation, cost estimating of systems, coordination and management of installation. Specific systems included are electrical, air conditioning, heating, ventilation and plumbing, fire protection, life safety, communication, power systems and lighting. The course also considers coordination of MEP systems and explores emerging technology and environmental issues related to mechanical and electrical systems in buildings. Prerequisite: REAL 1700, CMGT 2170 and CMGT 2300.

CMGT 3190 Residential Development (4 Credits)

A course sequence designed to emphasize the practical application of the theories and concepts of residential development. The course provides a capstone experience for seniors. Students are expected to apply their knowledge of general business, real estate and construction management practices by forming a student business entity, acquiring land, building and selling a residential property in a case format. Students will apply accounting, finance, marketing, real estate and construction management techniques in the planning for a residential development. The application of green building materials and methods is emphasized. Prerequisites: REAL 1700, CMGT 2170, CMGT 2300, and REAL 3438.

CMGT 3480 Construction Project Management (4 Credits)

This course offers a study of Construction Project Management including different scheduling techniques, use of estimation against scheduling, contracting, construction law, and software use for scheduling. Students obtain the needs for thought process of construction management including scheduling, bidding, proposals, communications, contracts, project planning and initialization, scheduling, estimating, resource planning, organizing, and project control. Use of software is critical and programs are chosen based on independent needs of students. Prerequisites: CMGT 2170 & CMGT 2300.

CMGT 3700 Topics in Construction Mgmt (0-4 Credits)

Exploration of various topics and issues related to construction management. Prerequisite: degree checkpoint 2.

CMGT 3980 Construction Management Internship (1-10 Credits)

Practical experience (field study); requires written report. Prerequisite: instructor's permission.

CMGT 3991 Independent Study (1-10 Credits)

Individual research/study; requires written report. Prerequisite: junior standing and instructor's permission.

REAL 1700 Fundamentals of Real Estate and the Built Environment (4 Credits)

An exploration of the importance of real estate and the built environment through triple bottom line analysis of its social, environmental, and economic impacts. The course considers a "cradle to cradle" sustainability model that links the various phases, functions, and professions of real estate, project delivery, and asset/facility management to create holistic, value-generating solutions for society. Professional practices/skill sets associated with the many career options that engage the built environment are demonstrated. Also covered are the principles of real estate, real estate industry and its markets; legal aspects of home ownership from consumer's point of view, including property rights, title concepts, deeds, purchase contracts, listing contracts, law of agency, environmental issues and disclosures, types of mortgages, basics of home loan finance, appraisal investment and tax benefits. Partially satisfies Colorado real estate broker licensing requirements.

REAL 3007 Real Estate Financial Analysis (4 Credits)

Alternative analysis formats that can be applied to a wide array of real estate analysis issues; simulates working/decision-making environment; structured overview of analysis tools focused on specific facets of multidimensional real estate decision-making environment; applications in investment analysis, feasibility analysis, valuation, market analysis, and report writing and presentation. Prerequisites: REAL 3307.

REAL 3010 Real Estate Capital Markets (4 Credits)

This course will expose students to the commercial real estate capital markets that have evolved from exclusively private in the 1980's to a mix of private and public including commercial mortgage backed securities (CMBS) and real estate investment trusts (REITs) in the 1990's. Any person involved in real estate today must understand all the alternative capital sources available and their requirements. Students will be exposed to the positives and pitfalls of all the capital market products. Prerequisite: REAL 3007.

REAL 3140 International Immersion in the Built Environment (4 Credits)

Inbound U.S. and outbound U.S. real estate issues, with a mix of cultural issues that impact real estate transactions. Application of sustainability concepts is important in this course dealing with international real estate issues. Prereq. REAL 1700 or REAL 3438, Junior Standing.

REAL 3210 Planning, Entitlements, and Public Finance (4 Credits)

Real estate development, place making and community building require the combined efforts of the public, for-profit, and non-profit sectors. Participants in the real estate development process need to understand and appreciate the sometimes competing, and sometimes collaborative interests of governments, agencies, and the private developer. This course is designed to familiarize students with the overall context of urban planning and land use. Students discover the variety of participants in the development process and become familiar with the project entitlement process, zoning and land use regulation. Students also examine public/private financing structures such as public-private-partnerships (P3s) and become familiar with detailed calculations relating to Tax Incremental Financing (TIF) and Metropolitan Districts. Prerequisite: REAL 3007.

REAL 3307 Real Estate Finance (4 Credits)

Sources of financing including institutions and individuals, primary and secondary mortgage markets, mortgage banking, impact of monetary and fiscal policies on financing, underwriting analysis, traditional and alternative or creative financing techniques. Prereq. MATH 1200.

REAL 3311 Real Estate Internship (1-4 Credits)

Practical experience (field study) in a responsible assignment with a real estate firm; experiences presented to faculty in report form. Maximum 1 quarter hour, unless approved by program director.

REAL 3317 Real Estate Valuation and Appraisal (4 Credits)

Appraisal principles, including market, cost and income approaches to value, highest and best use, neighborhood and site analysis; valuation of income properties applying market, cost and income approaches to value; capitalization theory and techniques, mortgage-equity analysis, and investment value concepts. Prerequisites: REAL 3307.

REAL 3337 Real Estate Securities and Syndications (4 Credits)

Introduction to real estate securities; emphasis on private offerings; determining whether a contemplated transaction involves a security, and what happens if it does; exemptions from registration (Reg D); registration requirements; investor suitability, how to syndicate, acquisition of property, marketing of the property, tax structure and formation of syndication, compensation to syndicators, real estate tax considerations. Application of sustainability concepts is important in this class dealing with real estate securities issues.

REAL 3357 Corporate Real Estate and Management (4 Credits)

This course provides a snapshot view of the corporate real estate life cycle and how to strategically plan and manage it. Over the ten week period we will address the diverse but critical components that together account for Facility Management. These shall include: Building Life Cycles and sustainability, facility management as part of the enterprise model within a corporate structure, regulatory agencies, professional relationships and the impact of the build environment on the bottom line, contracting and budget management, move-add-change (MAC) / operations, and general administrative services. Prereq. REAL 1700 or REAL 3438.

REAL 3367 Development and Feasibility (4 Credits)

This course is designed to give students a hands on approach of the steps necessary in performing market feasibility analysis to emphasize market research in the development process and understand site selection factors for commercial (office, industrial, retail, apartment, hotel) real estate. The physical and financial development process is covered in a real world project chosen by the student. This is a capstone course for graduating seniors. Prerequisites: REAL 3307.

REAL 3369 Real Estate Taxation (4 Credits)

Tax factors affecting real estate investments; legal forms of ownership, capital gain and loss; deductions, credits, depreciation, tax basis, tax impacts on exchanges, syndications, real estate securities, and other federal tax laws affecting real estate. Application of sustainability concepts are important in this course dealing with real estate tax issues.

REAL 3377 Real Estate Investment Seminar (4 Credits)

Capstone course for graduating seniors. Case method applied to real property development and real estate investment analysis for decision making; computer software for discounted cash flow, risk and simulation analysis; growth, sustainability and environmental issues, portfolio strategy and analysis. Prerequisites: REAL 3007.

REAL 3438 Legal Aspects of Real Estate and the Built Environment (4 Credits)

General contract and real estate law, tax law, landlord-tenant law, and various areas of liability for real estate practitioners. Construction contract preparation, bonding and insurance requirements, indemnity agreements, rights and remedies of property owners, contractors and subcontractors, emphasis on administration of a complete contract package for procurement and construction.

REAL 3701 Topics in Real Estate (1-4 Credits)

REAL 3800 NAIOP Challenge (2-4 Credits)

Student teams analyze and formulate real-world solutions for an existing complex real estate problem, culminating in internal and external competitions. Includes a comprehensive written report and oral presentation. Cross listed with CMGT 3800, CMGT 4800, REAL 4800. Prerequisite: Instructor’s permission.

REAL 3980 Real Estate Internship (1-10 Credits)

Prerequisite: instructor's permission.

REAL 3991 Independent Study (1-10 Credits)

Independent study/research; requires written report. Prerequisites: approval of instructor.

Faculty

Jeff L. Engelstad, Professor of the Practice of RECM, PhD, University of Denver

Eric A. Holt, Assistant Professor, PhD, Purdue University-West Lafayette

Mark L. Levine, Professor, JD, University of Denver

Glenn R. Mueller, Professor, PhD, Georgia State University

Drew Glenn Mueller, Associate Professor, PhD, Colorado State University

Vivek Sah, Professor and Director, PhD, Georgia State University

Ron L. Throupe, Associate Professor, PhD, University of Georgia

Daniel Joseph Trujillo, Assistant Professor of the Practice, PhD, University of Denver

Back to Top