For Students
McCombs has offered individual real estate courses for a long time. But now, with the addition of the Real Estate Finance and Investment 
Center, McCombs offers students a comprehensive program that combines the disciplines of finance, real estate, law, and community planning. Undergraduate students will graduate to fast-track positions as analysts, commercial leasing agents and property managers, while MBA's will begin careers in investment banking, development, and opportunity funds.
The Department of Finance is in an excellent position to lead other schools in this educational initiative. We integrate real estate into a formidable finance department, with faculty who are top researchers in real estate, financial markets, securitization, and financial risk management. REFIC combines the faculty resources of real estate and finance, creating the preeminent academic program in this exciting area.
Graduate Curriculum
Students in this concentration receive training in urban land markets, real estate investment and finance, and urban development along with their general MBA education. Graduates are ready to assume responsible positions in areas like development, real estate lending, real estate consulting, institutional real estate investment, and corporate asset management.
Students interested in real estate finance should enroll in RE 386.2, Real Estate Investment Decisions, during the spring semester of their first year in the MBA program. This course prepares students for a summer internship with a real estate company during the summer between their first and second year in the MBA program. RE 386.2 would be the third elective available in the second semester and would be taken simultaneously with FIN 394.1 and FIN 397.1.
The Real Estate Finance and Investment Center supports The Real Estate within the Department of Finance. With the support of individuals and firms from the real estate and financial services industry, this center is a focal point curriculum development and research in the real estate finance field. For more information about REFIC, and the Real Estate concentration, see the center's web site.
Curriculum Requirements
FIN 286 - Valuation (flexible-core)
FIN 394.1 - Advanced Corporate Finance
FIN 397.1 - Investment Theory & Practice
FIN 386.2 - Real Estate Investment Decisions
Notes: Students must complete the above curriculum during their first year in the MBA program. Most remaining Finance electives have these three courses as pre-requisites.
Real Estate Block
386.1 - Real Estate Markets
Any two (2) courses chosen from the list below:
RE 386.7 - Real Estate Decision Making – Fall II only
RE 386.3 - Real Estate Analysis – Practicum – Fall II only
RE 388 - Seminar in Real Estate Finance – Spring II only
FIN 397.6 - Special Topics in Investment – REIT
Accounting Block
Choose one of the following accounting courses:
ACC 380D - Advanced Topics in Financial Reporting (recommended)
ACC 380K.7 - Financial Statement Analysis
Total credit hours: 20
Recommended MBA Electives
FIN 394.5 - Fixed Income Analysis
LEB 380 - Law of Commercial Real Estate Finance and Development
Recommended Community & Regional Planning Electives
CRP 389C - Planning for Land Development
CRP 385C - Sustainable Urban Economic Development Planning
CRP 385C - Urban Design Theory and Practice
CRP 386 - Urban Land Institute Workshop
Undergraduate Curriculum
BBA students can major in finance with a special focus in real estate. The real estate track requirements are specified below and include six semester credit hours in real estate electives. BBA students can also participate in several extracurricular activities through membership in the Undergraduate Real Estate Society.
- FIN 354 - Money, Banking, & Economic Conditions OR 371M - Money & Capital Markets (REQUIRED)
- FIN 377.3* OR 377.4 - Security OR Financial Analysis (REQUIRED)
- Six hours (two courses) of Real Estate Electives:
RE 358 Introduction to Real Estate and Urban Land Development
RE 378K Real Estate Finance and Syndication (spring)
RE 376G Real Estate Investment (fall)
* FIN 377.3 is available only to students in the Financial Analyst Program.
Undergraduate Certificate
The Texas Undergraduate Real Estate Certificate Program (Texas URE) within the McCombs School of Business provides both business and non-business undergraduate students with the opportunity to earn an officially recognized concentration in the study of real estate.
While housed within the McCombs School, the program is truly multidisciplinary in nature by drawing upon the best resources across the university. The program’s rigorous coursework, combined with the requirement for students to venture beyond their primary major, enhances the learning experience of our students and enables the university to prepare top talent for the real estate industry.
The program requires 18 semester hours from six unique courses. Below is an outline of the program's requirements. For more information, please visit Texas URE.
