REAL ESTATE AND SUSTAINABILITY

How Does Sustainability Relate to the Real Estate Curriculum?

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The Purpose of the "Courses" Page

The "Courses" page is meant to show you connections between sustainability and core courses in a particular business major. In some cases, these connections may not yet be a part of the course. We are working on that! If you are a student, you can ask for these connections to be a part of the course. If you are a faculty member, you can integrate them in as you see fit.

Course descriptions are adapted from the Penn State University Bulletin.  This is not a comprehensive list of courses in the major. Learn more about this major at Penn State Smeal Undergraduate Education.

RM 330W: Real Estate Risk Analysis

RM 330W Real Estate Risk Analysis covers risk and value associated with real estate decision making, which includes purchasing, leasing renovation, financing, and investing. The purpose of this course is to demonstrate how value and risk is central to virtually all real estate decision making, including whether and how to lease, buy or mortgage a property acquisition; whether to renovate, refinance, demolish or expand a property; and when and how to divest a property. 

Sustainable risk management questions to consider: 

  • How much do sustainable features (i.e. solar panels, LEED certification, electric car stations, etc.) add to the value of property? 
  • What local regulations may impact a development project with sustainable requirements?  
  • What are the tax savings benefits to including sustainable features in a development project?  

RM 450: Contemporary Issues in Real Estate Markets

RM 450 Contemporary Issues in Real Estate Markets covers historical performance, land use issues, market valuation, real estate development, and public policy issues. 

Sustainable risk management questions to consider: 

  • What property attributes are related to sustainability? 
  • How does a property’s sustainability attributes affect real estate values? 
  • How does properties’ sustainability affect investors’ acquisition decisions? 

RM 460: Real Estate Financial Analysis

RM (FIN) 460 Real Estate Financial Analysis covers debt and equity financing, capital structure, “creative financing,” risk analysis, and corporate asset management. The objective of this course is to provide in-depth coverage of real estate investment and financing decisions. The focus is on the private market including corporate asset management. 

Sustainable risk management questions to consider:  

  • How will environmental regulations change income and expenditures, value, location, and density of commercial real estate? 
  • How can mortgage lenders incorporate ESG factors in loan origination and securitization? 
  • How will the housing affordability issue affect cities? 

RM 470: Real Estate Capital Markets

RM (FIN) 470 Real Estate Capital Markets explores the issues associated with the analysis of “public” (“Wall Street”) real estate, including both equities (such as Real Estate Investment Trusts or REITs) and debt vehicles (such as Mortgage-Backed Securities or MBSs). In addition, the course will focus on the increasingly globalization of real estate capital markets as the real estate sector becomes integrated into the global financial system. 

Sustainable risk management questions to consider: 

  • How do different large-scale companies and REITs incorporate sustainability into their investment portfolios?
  • How do different REITs focus on different aspects of sustainability?
  • What opportunities for economically sound sustainability are available within the real estate industry?
Learn how this major leads to sustainability-focused careers.
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Overview

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Courses

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Careers

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