Overview
The University of Colorado Real Estate Center is a high-caliber academic real estate program for graduate and undergraduate students attending the Leeds School of Business. With the active participation of the CU Real Estate Council, the program offers coursework, internships, networking and job placement assistance.
The program began with the development of the CU Real Estate Council in 1990. This group of industry professionals (many of whom are CU alumni) desired a stronger relationship with CU. In 1996, the CU Real Estate Center was formed with the assistance of the Council, University of Colorado Leeds School of Business, and the University of Colorado Foundation.
The Real Estate Center curriculum places an emphasis on sustainable development and is offered at the undergraduate and graduate levels. The Center prepares students to become leaders in the industry.
Partnerships are vital to the Center’s work and create meaningful conversations and prospects for students. For example, the Center developed the Sustainability Business Case in conjunction with the Deming Center for Entrepreneurship and Center for Education on Social Responsibility (CESR). This year the Center also partnered with Vail Resorts to research and create comprehensive green development standards. Vail Resorts funded the research, while faculty and graduate students from the Center collaborated with the School of Engineering and Applied Science on the project.
Students linked with the Center show talent and initiative. This year a team of MBA students representing the Real Estate Center won the Eighth Annual Rocky Mountain Real Estate Challenge, while still another group of students led an educational “Sustainable Development Tour” to Scandinavia.
In the coming years, the Center will to create more mentoring and internship opportunities, continue to implement sustainable land use ideas and establish a voluntary Rocky Mountain Carbon Market for corporations and investors intent on conservation-based new economies. They will offer executive education in Conservation Finance and Real Estate and fully integrate the Sustainable Development initiative into the Real Estate Center curriculum and expand student advisory services.
Real Estate MBA
The Real Estate Track in the MBA program emphasizes a multi-disciplinary, integrated approach to the study of real estate. The integrated process of preparing real estate students for careers in real estate will include: analysis of real estate opportunities from a development and sustainable development perspective; exploration of the link between real estate and the capital markets through examination of financial institutions and instruments used to finance real property; a thorough understanding of legal issues associated with developing, acquiring, transferring and leasing real property; exploring alternative methodologies for estimating real estate value and development of skills in real estate decision-making whereby teams design, complete, and present real estate projects in a competition forum.
Additional Course Offerings
The multi-disciplinary focus of the program takes place both within and outside the Leeds School of Business. In addition to the core real estate courses students can choose from a variety of business electives that compliment real estate, as well as electives outside the School of Business such as the College of Architecture and Planning, the Construction Management program within the College of Engineering and Applied Science, and sustainability courses within the Environmental Studies program. Sustainability electives are also available across the CU campus. This interdisciplinary approach helps students broaden their understanding of real estate and its related sectors. Students must receive approval from the MBA office before registering for electives offered outside of the business school
Suggested Courses
A minimum of 5 courses are required.
First Year
Fall Semester
Spring Semester
- MBAX 6600: Real Estate Principles
- MBAX 6815: Survey in Best Practices in Sustainable Development
Summer
Second Year
Fall Semester
- MBAX 6610: Real Estate Finance & Investment Analysis
- MBAX 6635: Real Estate Economics
- MBAX 6640 Real Estate Law & Contract
Spring Semester
- MBAX 6620: Real Estate Project Competition
- Real Estate Related Elective (optional)
Real Estate Fellowships
The Real Estate Center offers fellowships to both incoming MBA students as well as second year MBA students. The amounts of the fellowships vary from year to year. The criteria used to select candidates are based on a combination of various items including: Academic standing, work experience, financial need, and commitment to real estate and passion for the industry.
If you are interested in applying for fellowships as an incoming student, the application is part of the overall MBA application. Current second year students should see Blackboard for current deadlines and the application.
Internships
The Center coordinates the placement of MBA interns in top real estate companies. The program is designed for first year MBA students who have a genuine interest in a career in real estate. Internships provides students with real world experience that strengthens a student’s resume and understanding of the industry, while contributing to the bottom line of the business. In many cases, an internship is an opportunity for a company and a student to “test drive” an organization and in some cases can lead to a permanent position upon graduation. Internships are a highlight of the students’ educational experience and a valued opportunity for their employers.
Through the Real Estate Council network and beyond, the real estate Center has connections at the local, regional, national and international levels. We work one-on-one with each student to devise a plan to best connect students with the individuals that align with their area of interest and expertise.
Employers
If you are an employer and interested in hosting an intern, please contact Katie Latier at katie.latier@colorado.edu or 303.492.3643.
For Current Students
To help coordinate the best opportunity between student and employer, we ask that each student give serious thought to the kind of internship you want. Before making an appointment with the Real Estate Center to discuss internship opportunities, fill out the Internship Questionnaire and send the questionnaire AND your current resume to katie.latier@colorado.edu.
Leadership Award
The CU Real Estate Center Leadership Award is given to those individuals who are outstanding exponents of the real estate or related industry and who have brought extraordinary credit to the University and the Center. While only one award may be presented annually, it is not mandatory that one be selected each year. The following areas are considered when selecting the Leadership Award recipient.
- Service to the University
- Service to the Center
- Service to the community
- Career achievements
- Professional impact
Leadership Award Recipients
John Freyer Video
- 2007: Cal Marsella
- 2006: Tom and Caroline Hoyt
- 2005: Harry Frampton
- 2004: John Hickenlooper
- 2002: Ray Baker
- 2001: Federico Pena
- 2000: Byron Koste
- 1997: Bill Reynolds
- 1996: Rod Slifer
- 1995: Bill Moore
- 1994: Walt Koelbel
- 1993: Philip Milstein
Executive Committee
Chair:
Committee Members
- Alex Atherton, MBA Candidate
- Jim Creighton, ProLogis
- Deborah Froeb, The Nature Conservancy Colorado Chapter
- Patricia Gage, Colorado Business Bank
- Ken Gillis, Centennial Realty Advisors, LLC
- Mark Goldberg, Goldberg Properties
- Mike Komppa, Corum Real Estate Group, Inc.
- Richard Morgan, Mutual of Omaha Bank
- Greg Ochis
- Craig Poulter, The PrivateBank
- Susan Powers, Urban Ventures, LLC
- Jeffery Riggs, Essex Financial Group
- Greg Schmidt, Saunders Construction, Inc.
- Shawn Simmons, Ernst & Young LLP
- Tom Thibodeau, Leeds School of Business
- Marilee Utter, Citiventure Associates, LLC
- Wade Houser, Kutak Rock LLP
- Tim Swan, CB Richard Ellis
- Chris Crosby, The Nichols Partnership
- Erin Marilley, Lincoln Property Company Commercial, Inc.
Real Estate Council
- Alliance Commercial Partners
- Ballard Spahr LLP
- Barron Investments, LLP
- Bill Moore Enterprises, Inc.
- Brownstein Hyatt Farber Schreck, LLP
- BSW Wealth Partners
- Carvell Page Southerland Page - Architects
- Cassidy Turley Fuller Real Estate
- CB Richard Ellis
- Centennial Realty Advisors, LLC
- Church Ranch Development Company
- CoBiz Colorado Business Bank
- Colorado Landmark Realtors
- Colorado State Land Board
- Concord Partners, LLC
- Corum Real Estate Group, Inc.
- Courtelis Company
- CRL Associates Inc.
- Crosbie Real Estate Group, Inc
- Cushman & Wakefield, Inc.
- Dailey & Associates
- Davis Graham & Stubbs LLP
- DCT Industrial Trust
- Dean Callan & Co., Inc.
- Design Workshop
- Dividend Capital Trust
- DPC Development Company
- DTJ Design, Inc.
- Duff and Phelps, LLC
- Eide Bailly LLP
- Equity West Investment Partners
- Ernst & Young LLP
- Essex Financial Group
- Etkin Johnson Group, LLC
- Faegre & Benson LLP
- Fairfield & Woods, PC
- Fidelity National Title Insurance Co.
- FirsTier Bank
- Fitzsimons Redevelopment Authority
- Flatiron Park Company
- Fleisher Smyth & Brokaw
- Formations, LLC
- Freeman Myre Inc.
- Galloway & Company, Inc.
- Gittelman Properties
- Goldberg Property Associates Inc.
- Grubb & Ellis Company
- Guidance Corporate Realty Advisors
- Hampton Partners
- Holme Roberts & Owen LLP
- Inverness Business Park
- Isaacson Rosenbaum P.C.
- Kenney Architects, P.C.
- Klipp, P.C.
- Koelbel and Company
- Kutak Rock LLP
- L.C. Fulenwider, Inc.
- Land Title Guarantee Company
- Legend Retail Group, LLC
- Liley, Rogers & Martell LLC
- Littleton Capital Partners
- Majestic Realty Co.
- Marcus & Millichap Denver, Inc.
- McWhinney Enterprises
- Mill Creek Residential Trust
- Mutual of Omaha Bank
- Nichols Partnership, Inc.
- Northmarq Capital, Inc.
- Otten Johnson Robinson Neff & Ragonetti, P.C.
- Oz Architecture
- Packard and Dierking, LLC
- Peregrine Group Development LLC
- Phase 3 Properties, Inc.
- ProLogis
- Quintess LCC
- Qwest Communications
- Re/Max Unlimited, Inc.
- Reed Capital Group
- Regent
- Resort Ventures West, Inc
- RNL Design
- Ryley, Carlock and Applewhite
- Saunders Construction, Inc.
- Schuck Communities
- Shaw Construction
- Shea Properties
- Slifer Smith & Frampton Real Estate
- Snell & Wilmer L.L.P.
- Solgreen, LLC
- Sturm Realty Group LLC
- Tebo Development Group
- Terra Causa Capital, LLC
- The Nature Conservancy
- The Nichols Partnership, Inc.
- The PrivateBank
- Trammell Crow Residential
- Transwestern Realty Finance Partners
- TSR Agristruction
- University of Colorado Real Estate Foundation
- Urban Frontier LLC
- Urban Ventures, LLC
- US Bank
- ValleyCrest
- Van Gilder Insurance Corp.
- W.W. Reynolds Companies, Inc.
- Westland Development Services, Inc.
Alumni Committee
The CU Real Estate Alumni Committee has arrived.
The Committee is a group of ten real estate professionals who have received either their undergraduate or MBA degrees from the Leeds School of Business at the University of Colorado Boulder. These individuals share the same common goal; a desire to be involved in the real estate community and CU. With the support of Lisa Chambers and Katie Latier from the CU Real Estate Center, the two interests have been combined to create the CU Real Estate Alumni Committee.
The objective of the committee is to provide an opportunity for alumni to continue developing relationships within the real estate community while having fun. We realize life changes once you graduate and that’s why the committee is so great. The committee gives us the chance to reunite with friends and classmates as well as the opportunity to meet new people who share our passion.
The committee kicked off its inception with a highly attended happy hour at Mad Greens in Downtown Denver. The event was a success with tasty appetizers, libations and the opportunity to win a lunch with Randy Nichols! Congratulations to our winner, Jerrod Johnson!
The committee’s next event will take place at CU’s Homecoming football game on Saturday, October 22nd when our Buffs meet the Oregon Ducks at Folsom Field. Be sure to stop by the Alumni tent right outside the B-School to meet the committee members and learn how you can get involved!
By becoming a member you’ll have access to the following:
- Searchable directory of all CU Real Estate Alumni
- Real Estate continuing education seminars
- Direct contact with seasoned professionals to gain insight, exchange career tips, and much more!
For more information email curealum@yahoo.com.
Committee Members
- Erin Marilley
- Laura Spitzmiller
- Jenny Daubendiek
- Aaron Schlagel
- Eric Carlbom
- Ana Sandomire
- Andrea Pietka
- Ben Woolf
- Ellen McCready
- Neil Almy
Courses
MBAX 6600: Real Estate Principles
Spring
Studies methods of analyzing real estate opportunities. Includes urban economic, market, and location analyses. Studies local government controls. Actual cases of local residential and commercial projects are featured. Typically offered in Spring.
MBAX 6610: Real Estate Finance and Investment Analysis
Fall
Covers the link between real estate and the capital markets through an examination of the financial institutions and instruments used to finance real property. Examines methods used to analyze value in real property investments. Classroom activities include industry guest speakers. Prerequisite MBAX 6600, or equivalent, or instructor consent. Typically offered in Fall.
MBAX 6620: Real Estate Project Competition
Spring
Develops skills in real estate decision-making. Teams design, complete and present a real estate project in a competition forum. Team members organize and assign responsibilities, interact with real estate professionals, and apply appropriate quantitative and qualitative tools and procedures. Prerequisite MBAX 6600, MBAX 6610, MBAX 6855, or equivalent, or instructor consent. Typically offered in Spring.
MBAX 6635: Real Estate Economics
Fall
This course will examine real estate market operations and will discuss alternative methodologies for estimating real estate value. The student will examine various theories of land price determination and use these models to understand how the private market allocates land to competing residential, office, retail, industrial/warehouse, hotel and other end users. The student will examine how factors influencing the demand for real estate interact with the factors influencing the supply of real estate to determine market rents and how the flow of future expected income is capitalized to yield the market price of the asset. Typically offered in Fall.
MBAX 6640: Real Estate Law & Contracts
Fall
Examines the legal issues associated with developing, acquiring, transferring and leasing real property. The topics covered in this course include real estate contracts, land use and development agreements, vehicles for owning real estate, real estate covenants, conditions and restrictions, loan transactions, negotiating real estate contracts, commercial leases and real estate taxation. Material for this course will consist of assigned articles and real estate cases. Prerequisite MBAX 6600, or equivalent, or instructor consent. Typically offered in Fall.
Spring 2011
This course is designed to help equip next-generation real estate professionals with the foundational knowledge and tools they’ll need to make the most of this extraordinary opportunity disguised as a singular challenge. Typically offered in Spring.
Syllabus
REAL 3000: Principles of Real Estate Practice
An introduction to real estate as an asset with associated property rights, an industry, profession, and investment. The course covers a broad spectrum of real estate principles and terms including legal concepts, regulation and land use, industry issues, valuation, financing methods and sources, and investment analysis. This course is an excellent elective for all students and provides the foundation for other real estate courses at Leeds. Prereqs., BCOR 1010, 1020, 2000, 2200, and 52 hours completed.
REAL 4000: Real Estate Law and Financing Instruments
Building upon the legal concepts and issues introduced in Principles of Real Estate, the course provides a deeper study of the laws and legal issues impacting and governing real property rights and interests including the acquisition, ownership, possession, use and transfer of real property. The course incorporates both a lecture and case study approach fostering regular classroom discussions. Prereqs., REAL 3000.
REAL 4810: Real Estate Academic Internship
As the capstone course for the Real Estate Certificate program at Leeds, students complete approximately 150 internship hours with a real estate company over the semester (appx. 10 hours per week). The class meets biweekly and focuses on career options and opportunities in real estate. Contact the Real Estate Center at Leeds for internship and registration information.
Initiatives
Operating within the CU Real Estate Center, the Initiative for Sustainable Development’s (ISD) mission is to:
- build a financial case for sustainable real estate development from the built environment to large landscape conservation.
- educate the next generation of real estate professionals in the area of sustainability.
- become the research leader in the field of sustainable real estate
- disseminate best practices & convene stakeholders from across the state, country, and world.
ISD is grounded in experiential and service-based learning working to catalyze innovative public-private partnerships that will result in on-the-ground projects that will benefit our communities and environment, whether that includes mixed use green buildings, transit-oriented development, new flows of ecosystem services like carbon or water, for-profit conservation real estate projects, and sources of below market rate capital for our communities while simultaneously providing an incredible real world educational and research opportunities for our students.
ISD offers courses, conducts research, and forms strategic partnerships across the increasingly overlapping spheres of real estate and sustainable finance.
Certificates
Real growth, real opportunity, and real estate all come together in Colorado. The real estate program provides students with exposure to the concepts, tools, and techniques necessary for entry-level positions. It prepares students for a real estate career by exploring the link between real estate and capital markets, developing real estate decision-making skills, and analyzing real estate opportunities. An integrated process is followed in the three courses designed to prepare students for real estate careers.
Requirements
Mentoring
The CU Real Estate Center coordinates industry mentors for MBA students beginning the fall or spring semester of their first year and continues for the two years the student is in the program.
Blog
Posted: January 27, 2012
Onto our first full-year since the committee founding in the Spring of 2011, the Real Estate Alumni Committee is bigger and better than ever! Read on for opportunities to get involved! February 28th- CONTINUING EDUCATION CREDIT (1 Credit Hour) 5:30 … Continue reading →
Posted: January 27, 2012
Last fall 19 students (13 current MBAs, 2 current undergraduates, 3 recent undergraduates and one recent MBA graduate) took my ARGUS-DCF Certification course. The course met for three hours once per week for six weeks. The students took the Certification … Continue reading →
Posted: January 27, 2012
The University of Colorado Real Estate Center is pleased to offer it’s Property/Asset/Portfolio Management Seminar Series during the spring 2012 semester. This year we have added two additional lectures: one on office leases and a second class on portfolio management. … Continue reading →
Video
The University of Colorado Real Estate Center is a high-caliber academic real estate program for graduate and undergraduate students attending the Leeds School of Business.
News
Leeds School of Business
February 1, 2012
The longtime real estate professional will head the CU Real Estate Center.
Denver Post
December 27, 2011
Koelbel was a 1947 graduate of the University of Colorado at Boulder School of business.
Denver Business Journal
December 27, 2011
The University of Colorado at Boulder graduate stayed involved with CU’s Leeds School of Business and the University’s Real Estate Council, of which he was a founder and its first chairman.
St. Petersburg Times
October 15, 2011
Byron Koste, executive director emeritus of the University of Colorado's Real Estate Center, discussed Tampa's urban core, talking with officials, developers, merchants, lawyers and residents.
Leeds School of Business
June 29, 2011
The MBA Real Estate Class of 2011 sends a team to compete in the annual Rocky Mountain Real Estate Challenge between University of Colorado and the University of Denver.
Events
Event
March 8, 2012
7:30 am – 5:30 pm
Grand Hyatt, Denver
Theme: Looking forward—reflecting back.
Past Events
December 3, 2011
An annual competition open to graduate students pursuing real estate related studies in North America
Event
November 8, 2011
5:00 pm – 6:00 pm
Koelbel S235
Talk Title: "Ecosystem Investment Properties: The role of private equity for investing in Payments for Ecosystem Services (PES) markets surrounding wetland, stream, and endangered species habitat mitigation throughout the US."
Event
November 7, 2011
6:30 pm – 7:30 pm
Koebel 255
Ann Cooper of Pedal to Properties!
Event
October 24, 2011
6:30 pm – 8:00 pm
Koebel 255
Hear a panel of 4 alums speak about their careers in real estate in the areas of Finance, Development, Property Management, and Investment.
Event
September 22, 2011
12:30 pm – 1:30 pm
Koelbel S220C
A “meet and greet” for real estate MBA students to meet members of our Real Estate Council.
Publications
Working Paper
October 2011
Author: Tom Thibodeau and Liang Peng
To combat unemployment and economic recessions, FED traditionally lowers interest rates, hoping that easy credit will entice business into expanding. However, CUREC professors Tom Thibodeau and Liang Peng find that this conventional expansionary policy may not be effective in severe economic contraction, at least in the commercial real estate market.
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Publication
January 2011
Provides a comprehensive introduction and analysis of sustainable development concepts for the Rocky Mountain region
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Presentation
December 2010
Author: Stephanie Gripne
Overview and goals of the Initiative for Sustainable Development
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Case Studies
Case Study
May 2011
Authors: Hailey Broderick, Heather Lowry, Nicholas Mooney, and Dr. Donna Sockell
Namasté Solar is a leading Colorado solar installer in the residential market. Colorado’s favorable market conditions attract new competitors, putting pressures on price and market share. Unusual management structure and values systems, and public incentive structures complicate a pending decision to grow the residential market or develop a commercial installation business. Students must analyze the solar market, public incentive structures and financial scenarios to decide how this renewable energy company should grow.
This case contains a selection of three case studies that can be used to: Discuss a company’s core values, culture, and vision and examine how the corporate culture should be maintained or adjusted as the company experiences rapid growth; and to analyze target market selection in the context of competition, financial returns, and core competencies.
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