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 three concentrations of their choice in Real Estate Finance and Investments, Real Estate Development and Construction Management. This is an advantage as 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, management and sustainability 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.
Bachelor of Arts in Business Administration Major
Major Requirements
(185 credits required for the degree)
Minimum of 44 credits. Requirements include:
Code | Title | Credits |
---|---|---|
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 1700 | Fundamentals of Real Estate and the Built Environment | 4 |
REAL 3307 | Real Estate Finance | 4 |
CMGT 2170 | Construction Building Systems | 4 |
CMGT 2300 | Introduction to Architecture and Design Management | 4 |
REAL 3007 | Real Estate Financial Analysis | 4 |
REAL 3357 | Corporate Real Estate and Management | 4 |
REAL 3438 | Legal Aspects of Real Estate and the Built Environment | 4 |
Real Estate Concentration Requirements: (Select any 4 listed below)
Code | Title | Credits |
---|---|---|
REAL 3010 | Real Estate Capital Markets | 4 |
REAL 3140 | International Immersion in the Built Environment 1 | 4 |
REAL 3317 | Real Estate Valuation and Appraisal | 4 |
REAL 3367 | Development and Feasibility | 4 |
REAL 3369 | Real Estate Taxation | 4 |
or REAL 3337 | Real Estate Securities and Syndications | |
REAL 3377 | Real Estate Investment Seminar | 4 |
Total Credits | 16 |
Real Estate Development Concentration Requirements: (Select any 4 listed below)
Code | Title | Credits |
---|---|---|
CMGT 3155 | Sustainable Development | 4 |
CMGT 3190 | Residential Development | 4 |
REAL 3140 | International Immersion in the Built Environment 1 | 4 |
REAL 3210 | Planning, Entitlements, and Public Finance | 4 |
REAL 3367 | Development and Feasibility | 4 |
REAL 3377 | Real Estate Investment Seminar | 4 |
Total Credits | 16 |
Construction Project Management Concentration Requirements: (Select any 4 listed below)
Code | Title | Credits |
---|---|---|
CMGT 3100 | Construction Estimating | 4 |
CMGT 3120 | Construction Scheduling and Project Controls | 4 |
CMGT 3155 | Sustainable Development | 4 |
CMGT 3177 | Environmental Systems and MEP Coordination | 4 |
CMGT 3480 | Construction Project Management | 4 |
REAL 3140 | International Immersion in the Built Environment 1 | 4 |
Total Credits | 16 |
Elective: (REBE students are able to substitute one of the following courses with one Concentration requirement.)
Code | Title | Credits |
---|---|---|
CMGT 3700 | Topics in Construction Mgmt | 0-4 |
CMGT 3980 | Construction Management Internship | 0-4 |
REAL 3701 | Topics in Real Estate | 4 |
REAL 3980 | Real Estate Internship | 0-4 |
- 1
Can count towards international experience requirement.
Minors
Construction Project Management Minor Requirements
20 credits as follows:
Code | Title | Credits |
---|---|---|
CMGT 2170 | Construction Building Systems | 4 |
CMGT 2300 | Introduction to Architecture and Design Management | 4 |
CMGT 3100 | Construction Estimating | 4 |
CMGT 3120 | Construction Scheduling and Project Controls | 4 |
CMGT 3480 | Construction Project Management | 4 |
Total Credits | 20 |
Real Estate Minor Requirements
20 credits as follows:
Code | Title | Credits |
---|---|---|
REAL 1700 | Fundamentals of Real Estate and the Built Environment | 4 |
REAL 3307 | Real Estate Finance | 4 |
REAL 3007 | Real Estate Financial Analysis | 4 |
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 Credits | 20 |
Real Estate Development Minor Requirements
20 credits as follows:
Code | Title | Credits |
---|---|---|
REAL 1700 | Fundamentals of Real Estate and the Built Environment | 4 |
REAL 3307 | Real Estate Finance | 4 |
REAL 3007 | Real Estate Financial Analysis | 4 |
REAL 3210 | Planning, Entitlements, and Public Finance | 4 |
CMGT 2170 | Construction Building Systems | 4 |
Total Credits | 20 |
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 the Built Environment
Individual course plans will vary based on incoming transfer credits, admission path to Daniels, prerequisites, availability of courses, minors, and other scheduling factors. You MUST meet with your REBE academic advisor to develop an individual graduation plan based on your specific needs. See sample course plan below:
First Year | |||||
---|---|---|---|---|---|
Fall | Credits | Winter | Credits | Spring | Credits |
FSEM 1111 | 4 | BUS 1099 | 0 | WRIT 1133 | 4 |
BUS 1440 | 4 | ECON 1020 (Fulfills first SI Society) | 4 | INFO 1020 | 4 |
MATH 1200 (Fulfills AI Natural) | 4 | WRIT 1122 | 4 | INFO 1021 | 0 |
Language sequence or SI Natural sequence | 4 | INFO 1010 | 4 | MGMT 2100 | 4 |
INFO 1011 | 0 | Language sequence or SI Natural sequence | 4 | ||
Language sequence or SI Natural sequence | 4 | ||||
16 | 16 | 16 | |||
Second Year | |||||
Fall | Credits | Winter | Credits | Spring | Credits |
ACTG 2200 | 4 | ACTG 2300 | 4 | FIN 2800 | 4 |
BUS 2099 | 0 | BUS 3000 | 4 | MKTG 2800 | 4 |
LGST 2000 | 4 | INFO 2020 | 4 | CMGT 2300 | 4 |
REAL 1700 | 4 | Language sequence or SI Natural sequence | 4 | INTZ 2501 (Required if studying abroad. May be taken in any quarter within the year prior to studying abroad. | 2 |
Language sequence or SI Natural sequence | 4 | Language sequence or SI Natural sequence | 4 | ||
16 | 16 | 18 | |||
Third Year | |||||
Fall | Credits | Winter | Credits | Spring | Credits |
Study Abroad (16 cr hrs) OR | MGMT 3000 | 4 | CMGT 2170 | 4 | |
International Course1 | 4 | BUS 3099 | 0 | REAL 3007 | 4 |
REBE Core/Concentration, Elective or Minor course | 4 | REAL 3307 | 4 | REAL 3357 | 4 |
REBE Core/Concentration, Elective or Minor course | 4 | REAL 3438 | 4 | ASEM | 4 |
REBE Core/Concentration, Elective or Minor course | 4 | SI Society | 4 | ||
16 | 16 | 16 | |||
Total Credits: 146 |
- 1
If not studying abroad you must take a 4 credit International experience course. REAL 3140 can satisfy this requirement as well as fulfill one of your four REBE Concentration elective courses.
Fourth Year - REBE Concentration Options (Select 1 of the following):
Concentration Option 1: Real Estate (RE)
You now have the opportunity to select 16 cr hrs from the following RE Concentration electives: REAL 3010, REAL 3317, REAL 3367, REAL 3369, REAL 3337, REAL 3377, REAL 3140, REAL 3980 or REAL 3701. Please note you may have additional requirements remaining for Common/Business Core, Minors, Electives, Secondary Majors, International Experience.
Fourth Year | |||||
---|---|---|---|---|---|
Fall | Credits | Winter | Credits | Spring | Credits |
BUS 3800 | 4 | AI Society | 4 | AI Society | 4 |
RE Concentration, Elective or Minor course | 4 | RE Concentration, Elective or Minor Course | 4 | RE Concentration, Elective or Minor Course | 4 |
RE Concentration, Elective or Minor Course | 4 | RE Concentration, Elective or Minor Course | 4 | RE Concentration, Elective or Minor Course | 3 |
RE Concentration, Elective or Minor Course | 4 | ||||
16 | 12 | 11 | |||
Total Credits: 39 |
Concentration Option 2: Real Estate Development (RED)
You now have the opportunity to select 16 cr hrs from the following RED Concentration electives: REAL 3210, REAL 3367, REAL 3377, CMGT 3155, CMGT 3190, REAL 3140, REAL/CMGT 3980 or REAL 3700/3701. Please note you may have additional requirements remaining for Common/Business Core, Minors, Electives, Secondary Majors, International Experience.
Fourth Year | |||||
---|---|---|---|---|---|
Fall | Credits | Winter | Credits | Spring | Credits |
BUS 3800 | 4 | AI Society | 4 | AI Society | 4 |
RED Concentration, Elective or Minor Course | 4 | RED Concentration, Elective or Minor Course | 4 | RED Concentration, Elective or Minor Course | 4 |
RED Concentration, Elective or Minor Course | 4 | RED Concentration, Elective or Minor Course | 4 | RED Concentration, Elective or Minor Course | 3 |
RED Concentration, Elective or Minor Course | 4 | ||||
16 | 12 | 11 | |||
Total Credits: 39 |
Concentration Option 3: Construction Project Management (CPM)
You now have the opportunity to select 16 cr hrs from the following CPM Concentration electives: CMGT 3100, CMGT 3120, CMGT 3155, CMGT 3177, CMGT 3480, REAL 3140 CMGT 3980 or CMGT 3700. Please note you may have additional requirements remaining for Common/Business Core, Minors, Electives, Secondary Majors, International Experience.
Fourth Year | |||||
---|---|---|---|---|---|
Fall | Credits | Winter | Credits | Spring | Credits |
BUS 3800 | 4 | AI Society | 4 | AI Society | 4 |
CPM Concentration, Elective or Minor Course | 4 | CPM Concentration, Elective or Minor Course | 4 | CPM Concentration, Elective or Minor Course | 4 |
CPM Concentration, Elective or Minor Course | 4 | CPM Concentration, Elective or Minor Course | 4 | CPM Concentration, Elective or Minor Course | 3 |
CPM Concentration, Elective or Minor Course | 4 | ||||
16 | 12 | 11 | |||
Total Credits: 39 |
Common Curriculum requirements in the First and Second years are generally satisfied through sequential full-year Language and Scientific Inquiry: Natural requirements.
Construction Management (CMGT)
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 (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.
CMGT 3980 Construction Management Internship (0-4 Credits)
Practical experience (field study); requires written report. Prerequisite: Junior standing or above and Director Approval.
CMGT 3991 Independent Study (0-4 Credits)
Individual research/study; requires written report. Prerequisite: Junior standing, School Advisor and Director permission.
Real Estate (REAL)
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. This course will require on campus preparation for projects followed by 1-2 weeks of travel which will include working with host universities, students and industry partners. Prerequisites: REAL 1700 or REAL 3438, Junior Standing or higher.
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 1700 or REAL 3438.
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 or MATH 1951.
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. Prerequisite: Junior or Senior Standing.
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. Prerequisite: 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. Prerequisite: Junior or Senior Standing.
REAL 3377 Real Estate Investment Seminar (4 Credits)
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. Prerequisite: 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 3980 Real Estate Internship (0-4 Credits)
Practical Work experience - Written report required. Prerequisite: Junior standing or above and Director approval.
REAL 3991 Independent Study (0-4 Credits)
Independent study/research; requires written report. Prerequisite: Approval of School Director.