cornell university baker program in real · pdf filethe 2013-2015 cornell university baker...

PROGRAM HANDBOOKCORNELL UNIVERSITY BakER PROgRam IN REaL ESTaTE

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The 2013-2015 Cornell University Baker Program in Real Estate Student Handbook is designed as a resource to assist you as you get to know the Baker Program in Real Estate and its academic programs and requirements. This Handbook contains the most frequently cited policies affecting students matriculating into the Program during Fall 2013. Please note that some policies are included in their entirety, whereas others are presented in summary form; in the latter case you will be referred to the full policy on the web or in the relevant Cornell office.

It is your responsiblity to know and comply with the policies, procedures, guidelines, and information set forth herein. The Program, and Cornell University, reserves the right to change its policies and procedures, the courses it offers, its tuition and fees, and the requirements for graduation from time to time without notice. This Handbook is not intended to nor does it create any contractual rights for students or other members of the Program or University.

It is the policy of Cornell University actively to support equality of educational and employment opportunity. No person shall be denied admission to any educational program or activity or be denied employment on the basis of any legally prohibited discrimination involving, but not limited to, such factors as race, color, creed, religion, national or ethnic origin, sex, sexual orientation, gender identity/expression, age, or handicap. The university is committed to the maintenance of affirmative-action programs that will assure the continuation of such equality of opportunity. Sexual harassment is an act of discrimination and, as such, will not be tolerated.

Baker Program in Real EstateCornell University114 W. Sibley HallIthaca, NY 14853-6701(607) 255-7110 [email protected]

Produced by the Cornell University Baker Program in Real Estate

Copyright © July 2013

All rights are reserved

Please visit the Cornell Baker Program in Real Estate website at www.realestate.cornell.edufor additional Program information.

Welcome Page 4

Academic Program: Overview 5 • Program Requirements 5• Prerequisites 6•Core Courses 7• Required Core Course Descriptions 8•mPS/RE Suggested Sequence of Courses 11• Leadership and management Distribution 12•Concentration Distribution 14• Free Electives 25•Course Policy 25• Professional Development and applied Learning Opportunities 26

Academic Standards 27 •minimum Standards 27• AcademicDeficiency 29• AcademicIntegrity 29• ConditionalAdmission 29•grade Point average 30

Related Degree Opportunities 31•mBa/mPS-RE Dual Degree Option 31• Real Estate minor 32

Program Policies and Procedures 33•advising 33•Career Services 33•assistantships and Student Financial aid 34• Teaching assistants 35

Registration and Enrollment Information 36

Support Services 37 • Tutorial Services 37• Information Technology Resources 37• Tech Requirements 37• International Students 38• Extra-CurricularActivities 39• LivinginIthaca 39

General Program Information •meet the Baker Program in Real Estate Staff 40•Other Important Staff and Departments 43•attire 44

Calendar of Events 47

Table of Contents

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Welcome to the Program

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Congratulations and welcome to Cornell University and to the Baker Program in Real Estate. You have been chosen to join a select group of real estate industry professionals and careful review of this Handbook is your first step towards your next two years of intensive, focused study.

This Handbook has been created as your guide to the Baker Program in Real Estate and to help you make the most of your graduate education experience here at Cornell. It is your responsibility to understand and comply with the policies and procedures set forth here and to ensure that you have met all requirements to receive your degree.

This Handbook contains the policies and practices currently authorized by Cornell’s Real Estate field faculty for the conduct of graduate study for the Master of Professional Studies in Real Estate (MPS/RE) for 2013 – 2015. The Handbook, received at entry, constitutes the graduation requirements in effect for the duration of your program.

Please visit our website at www.realestate.cornell.edu for more information.

This Handbook should be read as a supplement to the Code of Legislation of the Graduate Faculty of Cornell University, which can be found at:

http://www.gradschool.cornell.edu/sites/default/files/field_file/Code%20Revisions_Final_4_18_12.pdf

Program Requirements

To complete the MPS/Real Estate degree, a student must:

• Complete 62 credit hours, which includes:

° 39 credit hours of core course requirements;

° 5 credit hours of leadership and management distribution (see page 12);

° 12 credit hours (minimum of 4 courses) in an approved concentration (see page 14);

° 6 credit hours of free electives (subject to approval by student’s advisor).

• Complete a professional internship

• Be in residence in the Cornell Baker Program in Real Estate for four semesters of full-time study

(except for those students meeting requirements of selected Employee and Dual-Degree Pro-

grams.)

• Remain in good academic standing by adhering to all academic standards requirements.

Academic Program: OverviewA

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Prerequisites

All students are required to complete courses in economics and financial or managerial accounting prior to beginning the program. These courses may have been completed as part of an undergraduate curriculum or during other studies. Students who have not taken these courses will want to complete them prior to arriving at Cornell. Please consult with the assistant program director for more information.

Economics Prerequisite

Students may fulfill the economics prerequisite by having taken any microeconomics as well as a microeconomics or a macroeconomics course prior to enrollment in the Cornell Baker Program in Real Estate. Should a student not have fulfilled the prerequisite prior to Program entry, s/he will then need to complete a course in Urban Economics or its equivalent prior to graduation.

Recommended are courses that explore economic theory and solutions to the problems of housing, transportation, and the contemporary urban context, including theories of why cities exist, city location, city size, the causes of growth and decline, and the spatial distribution of alternative activities within cities.Recommendations and approved courses will be made available at the beginning of each semester.The following Cornell course has been approved for fulfillment of the economics prerequisite:

CRP 5040: Urban Economics

Accounting Prerequisite

Students may fulfill the accounting prerequisite by having taken financial accounting as well as managerial accounting course prior to enrollment in the Cornell Baker Program in Real Estate. Should a student not have fulfilled the prerequisite prior to Program entry, s/he will then need to complete one of the following courses in accounting or its equivalent prior to graduation.

The following Cornell courses have been approved for fulfillment of the accounting prerequisite:

AEM 2210 Financial Accounting

AEM 3360 Intermediate Accounting I

AEM 4520 Advanced Accounting

NCC 5500 Financial Accounting

ORIE 3150 Financial & Managerial Accounting

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Core Courses

The following are required core courses in the Baker Program in Real Estate:

CEE 5950 Construction Planning and Operations 3 Credits

CRP 5075 Real Estate Project Workshop “Capstone” 4 Credits

CRP 5320 Real Estate Development Process 3 Credits

CRP 5330 Real Estate Marketing and Management 3 Credits

CRP 5370 Real Estate Seminar Series 2 Credits (1 credit/yr)

CRP 5560 Design in Real Estate Development 3 Credits

CRP 6290 Communication in Real Estate 2 Credits

CRP 6560 Real Estate Transactions & Deal Structuring 3 Credits

CRP 6570 Real Estate Law 3 Credits

CRP 6580 Residential Development 4 Credits

HADM 6200 Principles of Real Estate 3 Credits

HADM 6280 Real Estate Finance and Investments 3 Credits

NCC 5560 Managerial Finance 3 Credits

TOTAL 39 Credits

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CEE = Civil & Environmental Engineering

CRP = City & Regional Planning

HADM= Hotel Administration

NCC = Johnson Graduate School of Management

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A course on the fundamentals of construction: organization of the work site; construction planning, scheduling, and cost estimating; bidding; temporary structures; applications of computer methods; and the relationships among owners, designers, contractors, suppliers, and developers. (Offered in Fall)

CRP 5075 Real Estate Project Workshop (Capstone) 4 Credits

This course involves the preparation of professional real estate development and design reports in the context of a “live project” performed for an actual client, and in a manner that realistically demonstrates the collaborative working relationships used by real estate developers, architects, landscape architects, and other consultants. This is an applied learning course that focuses on developing the knowledge base and skill sets for preparing and executing real estate development projects. A major objective of the course is effective team interactions that draw on different disciplines and student backgrounds. Working in interdisciplinary teams, students examine market research, site analysis, project feasibility, physical and land planning, urban design, project branding and marketing, and financial feasibility, with consideration of debt and equity structures. At the end of the semester, each team will complete and present professional quality oral, written and design reports to a panel of judges, including representatives from the client group. (Offered in Spring)


The course examines the real estate development process and the roles of major participants in that process. It will include discussion, case studies and presentations dealing with various forms of real estate development, as well as a review of key issues in real estate investment and the development of retail, industrial, residential, office and low-income housing projects.

We will discuss the state of the industry, trends in society affecting future development projects, and real estate finance techniques. Methods of financial analysis and the roles of various professionals are also addressed during the semester. (Offered in Fall)


The course focuses on the tenant or user as the basic source of value in real estate. Students explore the characteristics and needs of tenants, and how the ownership and management of buildings respond to those needs. Multifamily residential, retail, and office buildings are the principal focus of the course although other product types will be discussed. Topics include marketing research, examination of tenant types, location, building services and operation, negotiation of lease agreements, marketing campaigns, governmental regulations, and the strategy and management of running a real estate enterprise. The economics of occupancy are analyzed from both the landlord and tenant’s point of view, with user decision-making and analysis the focal point. Marketing campaigns and lease negotiations are covered as well as the elements of lease agreements. (Offered in Fall)

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CRP 5370 Real Estate Seminar Series 1 Credit/yr

One-credit course designed to bring students weekly into direct contact with real estate professionals in person or through the use of videoconferences originating from locations around the world. (Offered in Fall and Spring – Seminar is not open to non-Baker Program in Real Estate Students. Students may invite guests with the permission of the Director of the Baker Program in Real Estate.)


This course provides a basic understanding of the importance of design in real estate development. The role of the architect and other design professionals is considered from the initial needs assessment through project implementation. Fundamentals involved in defining, stimulating and recognizing quality in design are addressed. Case study presentations by guest speakers examine the methods and procedures employed to achieve quality design and how they can add value to development. (Offered every other Spring)


This course develops communication skills in a workshop setting for practical business applications in the real estate industry. Students learn to think critically and strategically about communication issues and to apply these principles to writing and speaking assignments. Students will practice the skills that make their writing and speaking clear, efficient, and effective in order to improve the engagement, flow, and impact of their business communications. (Offered in Spring)

CRP 6560 Real Estate Transactions and Deal Structuring 3 Credits

Real Estate Transactions and Deal Stucturing examines real estate deals through a practitioner perspective within a case study and transactional approach. The course looks at the transactional components and structuring of real estate deals and related parties at each step in creating value from real estate, including acquisition and assemblage; due diligence; sourcing and financing; structuring the venture/parties; operation; disposition; and tax consequences. Additional issues within deal structuring that may be included are negotiation, managing risk including litigation and environmental issues, analysis of financing techniques, and consequences when deals go bad, including workout and bankruptcy. The case study format will address deals from the perspectives of investment fund manager, banker/lender, developer, REIT, joint venture partner/investor, and owner. (Offered in Spring)


Examination of major legal concepts pertaining to acquisition, use, management, and transfer of real estate. Particular focus is on important legal considerations pertaining to property rights, contracts, public controls on the use of land. Consideration of important case law, statutory law, and rules and regulations. Current legal issues affecting the real estate industry are discussed. (Offered every other Spring)

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The course involves an in-depth examination of the residential development process from site acquisition through delivery of thefinished product. Topics covered include: market analysis and site feasibility, site acquisition, product selection, land planning and site engineering, land development, project feasibility and financing (including pro forma financial analysis) preparation of a detailed critical path schedule. budgetary controls, contracting and construction management, and marketing and sales. Five to six person student teams prepare a residential development proposal for an actual site. Team deliverables are due every other week and the semester-long exercise culminates in a complete project report and presentation to the property owner or builder/developer who controls the site. (Offered in Spring)


The course is designed to facilitate student learning of real estate fundamentals, including residential and commercial real estate. Students develop a thorough understanding of residential mortgage finance and commercial real estate investments. The major objectives of this course are twofold: (1) to help students develop an understanding of real estate; its practice, its institutions, and its players; and (2) to introduce them to the quantitative aspects of real estate; investment decision making, valuation, and debt financing. (Offered in Fall)

HADM 6280 Real Estate Finance & Investments 3 Credits

The purposes of this course are to promote sound real estate investment and finance decision-making, and the use of advanced methods in financial economics. Real estate investment decisions are made through applications of extended versions of the conventional after-tax discounted cash flow model, and other valuation models including option pricing and regression models. Financing decisions are made using the techniques of modern financial analysis, such as duration. Securitization of real estate equity (i.e., REITs) and derivative securities also are covered. All types of residential and non-residential real estate are analyzed, including hospitality properties. (Offered in Fall and Spring)


This course is an introduction to business finance through theory and practice. Topics include the time value of money, stock and bond valuation, business investment analysis, portfolio theory, the cost of capital and choice of capital structure, valuing acquisitions, option pricing, and risk management. International applications are an integral part of each topic area. Letter grade only, based on exam, group case reports, homework and class participation. (Offered in Fall term)

MPS/RE Suggested Sequence of Courses

The following schedule is a suggested sequence of courses for completion of the master’s degree in real estate.

Summer Prerequisites if necessary (see page 6)

First Year Credits

FALL 2013 15.5 CREDITS




CRP 5370 Real Estate Seminar Series 0.5 Credits



SPRING 2014 15.5 CREDITS






Concentration Elective 3 Credits

SUMMER 2014 PROFESSIONAL INTERNSHIP

Second Year

FALL 2014 15.5 CREDITS





Management and Leadership 3 Credits

Free Elective 3 Credits


SPRING 2015 15.5 CREDITS


CRP 5075 Real Estate Project Workshop 4 Credits

CRP 6560 RE Transactions and Deal Structuring 3 Credits

Management/Leadership 2 Credits

Free Elective 3 Credits

CEE = Civil and Environmental Engineering

CRP = City and Regional Planning

HADM = Hotel Administration

NCC = Johnson Graduate School of Management

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Leadership and Management Distribution

The Leadership and Management Distribution requirement develops knowledge and skills that will serve graduates in their careers as real estate professionals. The purpose of this requirement is to expose students to important principles of management, leadership, decision making, conflict resolution, negotiations, human relations, and communication, which are vital to being a successful real estate business leader.

At least five credits in the area of leadership and management are required. Courses taken for the Leadership and Management Distribution must be graduate level courses, taken for a letter grade, and should focus on at least one of the following topics (no “double dipping”)*:

• Conflict Resolution/Negotiation

• Human Relations/Interpersonal/Communication

• Leadership

• Management and Decision Making

* Courses taken to satisfy this requirement may not also be counted as concentration courses.

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The following is a list of suggested courses that satisfy the Leadership and Management Distribution. Please note that courses are subject to space availability. Other courses may be considered if they meet the requirements for the distribution and have the approval of the student’s advisor and Director of Graduate Studies.

CEE 5900 Project Management 4

CRP 5850 Real Estate Negotiations (Highly Recommended) 3

HADM 7110 Organizational Behavior 3

ILRLR 6011 Negotiation: Theory and Practice 4

ILRHR 5600 Human Resource Management 3

ILRHR 6600 HR Leadership: Views from the Top 4

ILRHR 6606 Developing Leadership: Personally and in Organizations 4

ILROB 5251 Building Commitment to Groups and Organizations 4

ILROB 5270 Leadership in Organizations 4

ILROB 5790 Negotiation and Conflict Resolution 4

NBA 5140 Ethics and Corporate Culture 1.5

NBA 5150 Leadership Theory and Practice 3

NBA 5700 Foundations of Leadership 1.5

NBA 5860 Cross-Cultural Management 1.5

NBA 5880 Critical Thinking for Business Leaders 1.5

NBA 6630 Managerial Decision Making 3

NBA 6700 Becoming a Leader 1.5

NBA 6710 Business Ethics 1.5

NBA 6760 Organizing for Strategic Advantage 1.5

NBA 6820 Negotiation Essentials 1.5

NCC 5540 Management and Leading in Organizations 3

NCC 5580 Managing Operations 3

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CONCENTRATIONS

Historic Preservation

International Real Estate

Property & asset management

Real Estate Consulting

Real Estate Development

Real Estate Finance

Real Estate Investments

Real Estate market analysis

Sustainable Development

Independent Concentration

PROFESSIONAL INTERINSHIP

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Concentration Distribution

At least four courses (minimum twelve credits) must be taken toward fulfillment of an approved concentration. A concentration focuses on a specific aspect of the real estate field. It may take any of several forms and should be developed according to the interests and employment objectives of the student. With the assistance and approval of his or her advisor, a student must develop and declare a concentration area by the end of the second semester.

There are ten concentrations suggested below with recommended courses that might be taken to develop these concentrations. Please note that students are not constrained to the concentrations or courses listed below; an independent concentration is also available to students who wish to apply some creativity to the development of their concentration. The student is strongly advised to meet with his/her advisor during the second semester to discuss and gain approval of a concentration plan.

Students with specific interests outside the concentrations suggested on the following pages are encouraged to consider creating their own concentrations, subject to approval of the student’s advisor and the Director of Graduate Studies

Foreign language courses typically do not count toward fulfillment of concentration requirements except where the language is critical to success in a real estate niche area of specialization. In such circumstances, no more than 3 credits of foreign language may count towards concentration requirements. Foreign languages may be taken as electives courses as long as they are 400 level or above. Courses below 400 level can be applied to Program requirements only with approval of the Director of Graduate Studies.

For a complete list of course offerings consult the Courses of Study which can be found on the web at http://www.cornell.edu/academics/courses.cfm

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Historic Preservation

“Addresses theory and practice as well as the economic, legal, and social ramifications of preservation”

Each year, employers throughout the world compete for graduates of the Historic Preservation Planning program. Cornell was one of the first institutions in the country to offer preservation courses, and is an internationally recognized as a leader in the field. The concentration prepares students for professional work in the preservation and use of our physical heritage, and can lead to opportunities in federal historic preservation offices, urban planning agencies, landmarks commissions, and private architectural and restoration firms.

Key areas of interest: Cultural and natural resource management; preservation economics; finance, law, and planning; development case studies; public advocacy and issues in identification, significance and authenticity of the built environment.

CRP 5073 Historic Preservation Planning Workshop (highly recommended)

CRP 5600 Documentation for Preservation (highly recommended)

CRP 5660 Planning and Preservation Practice (highly recommended)

CRP 5620 Perspectives on PreservationCRP 5630 Problems in Contemporary Preservation PracticeCRP 6630 Historic Preservation LawCRP 6650 Preservation Planning and Urban ChangeLA7920 LandscapePreservation:TheoryandPracticeDEa 6540 Facility Planning and management Studio

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International Real Estate

“Sound real estate practice and an understanding of different markets and business environments applied globally”

Real estate opportunities overseas exist for those with advanced knowledge of real estate, keen understanding of the international environment including management, communication, trade, financial, and legal strategies, and the willingness to work across borders.

Key areas of interest: International finance; international marketing; cross-cultural management; international economics

HADM 6141 Firm and Global Business Strategy (highly recommended)

NBA 5480 Global Business Risk Management (highly recommended)

NBA 5540 International Finance

HADM 4620 Intercultural Communication in Global Business

HADM 6160 International Management

HADM 6405 International Marketing

CRP 5076 International Planning and Development Workshop

CRP 6011 Ethics, Development, and Globalization

CRP 6504 Comparative Urban Development

CRP 6710 Seminar in International Planning

AEM 4290 International Finance

AEM 4420 Emerging Markets

NBA 5510 Emerging Markets Finance

NBA 5840 International Competitive Strategy

NBA 5860 Cross-Cultural Management

NBA 5870 International Mergers and Acquisitions

NBA 5900 Emerging Markets Strategy

NBA 5930 International Entrepreneurship

NBA 6030 Sustainable Global Enterprise

NBA 6250 International Marketing

NBA 6310 The Global Enterprise

NBA 6830 Negotiation 2: Advanced Negotiation for Global Leaders

ILRHR 6616 Globalization and Human Resource Strategies

ILRHR 6900 International Comparative Human Resource Management

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Property and Asset Management

“Looking after and being responsible for real estate portfolios…Property Management is like being the mayor of a small city…”

Asset and Portfolio Managers have the responsibility of maximizing the performance and value of a real estate company’s portfolio. They are responsible for formulating and implementing a long-range real estate asset management and/or fund management strategy. While Asset Managers typically focus on a single property type, e.g. office properties, within the company’s real estate investment portfolio, Portfolio Managers would be responsible for all the product types within the fund, which may include office, retail, and multi-family. Property managers narrow their focus to operation and management of specific assets.

Key areas of interest: Asset management; facility management; negotiations; unit-level property finance; human resource management; leadership

HADM 6220 Hospitality Asset Management (required)

DEA 6590 Introduction to Facility Planning and Management (highly recommended)

NBA 5420 Investment and Portfolio Management (highly recommended)

DEA 2040 Introduction to Building Technology

DEA 6500 Programming Methods in Design

DEA 6540 Facility Planning and Management Studio

HADM 3510 Hospitality Facilities Design

HADM 4080 Introduction to Casino Operations

HADM 6000 Advanced Revenue Management

HADM 6020 Spa and Spa Hotel and Resort Development and Management

HADM 6033 Operations and Planning of Senior Living and Related Facilities

HADM 7030 Operations Management

NBA 5450 The Search for Alpha

NBA 5470 The Short End of Alpha

NBA 5530 Accounting and Financial Decision Making

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Real Estate Consulting and Advisory Services

“Scouting opportunities, connecting buyers and sellers, furthering the real estate enterprise, making real property transactions happen…”

Consulting and advisory services often spans the diversity of activities within the real estate industry, ranging from brokerage services to acquisitions and valuation services to financial advising. The growth of advisory services, notably through large companies such as Jones Lang LaSalle and others, illustrates the trend toward outsourcing activities in the increasingly complex real estate industry. Advisory services demands a commitment to working in a variety of contexts and acumen for collaboration, and can provide a diversity of opportunities and exposure early in one’s career.

Key areas of interest: Statistics and econometrics; database management; financial analysis; advanced real estate topics; marketing; GIS; graphic design and presentation skills

NBA 5780 Problem Solving Project Process (highly recommended)

HADM 6010 Data Driven Analytics (highly recommended)

AEM 4060 Risk Simulation and Optimization

AEM 6120 Applied Econometrics

ILRST 6100 Statistical Methods I

CRP 5080 Introduction to Geographic Information Systems

ECON 6190 Econometrics I

ECON 6200 Econometrics II

NBA 5060 Financial Statement Analysis

NBA 5090 Advanced Financial Statement Analysis

NBA 5420 Investment Portfolio Management

NBA 5750 Management Consulting Projects

NBA 6390 Data Driven Marketing

NBA 6590 Management of Financial Institutions

NBA 6760 Organizing for Strategic Advantage

NBA 6780 Advanced Private Equity: Negotiations and Structuring

NBA 6950 Game Theory and Business Strategy

HADM 4220 Taxation and Management Decisions

HADM 6070 Hospitality Operations and Consulting

HADM 6210 Hospitality Real Estate Finance

HADM 6260 Advanced Corporate Finance

ILRHR 6560 Organizational Consulting

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Real Estate Development

“Development requires the ability to envision new projects and the perseverance and aptitude to actually get them built”

The role of the developer is to orchestrate the entire development process from start to finish. Developers can be one individual outsourcing all the work to third parties, or a large firm which handles everything in house. Either way, the developer must have knowledge of nearly every process, phase and service involved, including site selection, market analysis, finance, construction, leasing, and sales – and it doesn’t hurt to have legal and transactional skills to handle the contracts and liability concerns present in development projects. Development is a dynamic business field with a steep learning curve. The developer is often required to be the first one in with equity and the last to get paid, but if the process is managed correctly, the payouts can be well worth the time and effort.

Key areas of interest: Negotiations; finance; leadership; land-use law; project-oriented courses; project management; affordable housing; urban and physical planning.

(HR) = (highly recommended)

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CRP 6591 Special Topics: Commercial Development in Real Estate (HR)

CRP 6592 Special Topics: Retail Development in Real Estate (HR)

LA 6180 Site Construction (HR)

CRP 5590 Legal Aspects of Land Use Planning (HR)

DEA 6540 Facility Planning and Management Studio

LA 7010 Urban Design and Planning

LA 7910 Placemaking by Design

CRP 5072 Land Use, Environmental Planning, and Urban Design Workshop

CRP 5080 Introduction to Geographic Information Systems (GIS)

CRP 5530 Land Use Regulations

CRP 6430 Affordable Housing Policy and Programs

HADM 2550 Hospitality Development and Planning

HADM 4570 Hotel Development

HADM 4510 Restaurant Development

HADM 6020 Spa and Spa Hotel and Resort Development and Management

HADM 6033 Operations and Planning of Senior Living and Related Facilities

HADM 7510 Properties Development and Planning

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Real Estate Finance

“Real Estate Finance provides the fuel that keeps the industry running…”

The real estate finance field is extremely diverse and complex. Employers range from pension funds, insurance companies, and private-equity firms, to commercial banks, private banks, and credit unions. Job titles range from investment banker, to mortgage bankers and brokers, and underwriters. Real estate financing is not just for home loans and home equity lines of credit. Major commercial loan business is done with refinancing old loans, new construction loans, permanent financing on leased projects, mezzanine debt, and acquisition loans. Typical job functions in the field involve consulting potential borrowers and originating loans, servicing existing loans by making sure payments are being made and taxes and insurance are paid, securitizing pools of loans to be sold in the secondary MBS and CMBS markets, and much more.

Key areas of interest: Securities; financial analysis; valuation.

HADM 6210 Hospitality Real Estate Finance (highly recommended)

HADM 6271 Investment in Real Estate Securities and Funds (highly recommended)

AEM 4210 Derivatives and Risk ManagementAEM 4280 Valuation of Capital InvestmentHADM 6240 Analysis of Financial StatementsHADM 6250 Securitization and Structured Financial ProductsHADM 6260 Advanced Corporate FinanceHADM 6270 Fixed Income AnalysisHADM 6290 Investment Analysis and Portfolio ManagementNCC 5500 Financial AccountingNBA 5060 Financial Statement AnalysisNBA 5090 Advanced Financial Statement AnalysisNBA 5120 Applied Portfolio ManagementNBA 5400 Advanced Corporate FinanceNBA 5420 Investment and Portfolio ManagementNBA 5430 Financial Markets and InstitutionsNBA 5450 The Search for AlphaNBA 5460 Liability Driven AlphaNBA 5470 The Short End of AlphaNBA 5540 International FinanceNBA 5550 Fixed Income Securities and Interest Rate OptionsNBA 6560 Valuation PrinciplesNBA 6590 Management of Financial InstitutionsNBA 6730 Derivatives Securities Part INBA 6740 Derivatives Securities Part IINBA 6940 Equity Derivatives and Related Products

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Real Estate Investment

“The masterminds behind real estate transactions…”

Real estate investment involves a variety of analytical and transactional activities. Transaction-oriented positions focus on acquiring or relinquishing control of real property and assets, and may also apply to real estate corporate M&A and REIT public-private transactions. Investment specialists may be responsible for site selection, financial modeling, valuation, and the execution of the transaction, whether it is an acquisition or disposition. Acquisition responsibilities may also include strategic planning, identifying and analyzing acquisition opportunities, negotiating transactions, and packaging deals for clients, the company, or the business unit.

Key areas of interest: Advanced property courses; unit-level property finance; portfolio-level property finance; negotiations; valuation

HADM 6271 Investment in Real Estate Securities and Funds (required)

NBA 5320 Due Diligence in Private Equity Investments (highly recommended)

NBA 5640 Entrepreneurship and Private Equity (highly recommended)

NBA 6780 Advanced Private Equity: Negotiations and Structuring (highly recommended)

HADM 6220 Hospitality Asset Management

HADM 6000 Advanced Revenue Management


HADM 6240 Analysis of Financial Statements

NBA 5061 Comprehensive Financial Statement Analysis

NBA 5120 Applied Portfolio Management

NBA 5420 Investment and Portfolio Management

NBA 5430 Financial Markets and Institutions

NBA 5450 The Search for Alpha

NBA 5460 Liability Driven alpha

NBA 5470 The Short End of Alpha

NBA 5590 The Venture Capital Industry and Private Equity Markets

NBA 6560 Valuation Principles

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Real Estate Market Analysis

“Knowing what, when, where to build or acquire”

Real estate market analysis relies on the quantitative and analytical skills to understand and appropriately respond to real estate markets.

Key areas of interest: Market analysis; consumer behavior; statistics; time series methods; marketing research; GIS; facility management

NBA 6390 Data Driven Marketing (highly recommended)

HADM 6010 Data Driven Analytics (highly recommended)

CRP 5080 Intro to Geographic Information Systems (GIS) (highly recommended)

HADM 6245 Real Estate Location Analysis (highly recommended)

CRP 5230 Analytical Mapping and Spatial Modeling

AEM 6120 Applied Econometrics

AEM 7440 Advanced Consumer Research

CSS 6200 Spatial Modeling and Analysis

CRP 6270 Regional Economical Impact Analysis

DSOC 6080 / PAM 6060 Demographic Techniques

ILRST 6100 Statistical Methods I

HADM 6405 International Marketing

HADM 6471 Hospitality Marketing with Evolving Media: Social, Mobile, and Search

HADM 6490 Integrated Marketing Communications

HADM 7430 Marketing Management for Services

NBA 5240 Macroeconomics and International Trade

NCC 5530 Marketing Management

NBA 6200 Marketing Research

NBA 6210 Integrated Marketing Communications

NBA 6220 Marketing Strategy

NBA 6250 International Marketing

NBA 6290 Current Topics in Marketing

NBA 6570 Entrepreneurial Marketing

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Sustainable Development

“A triple bottom-line paradigm”

Extensive course offerings in sustainability provide the opportunity to explore topics ranging from new urbanism to housing affordability, conservation, energy, green building, and more.

Key areas of interest: Negotiations; Finance; Planning/Design; Leadership; Land-Use Law; Sustainable Development; Environmental Planning; Natural Resources.

CRP 6593 Introduction to Green Real Estate

NBA 5190 Entrepreneurship in the Emerging Sustainable Economy

NBA 6380 Finance & Sustainable Global Enterprise Colloquium

HADM 6500 Sustainable Development

AEM 6510 Environmental and Resource Economics

AEM 6580 The Economics and Psychology of Sustainable Business

BEE 4010 Renewable Energy Systems

BEE 4740 Water and Landscape Engineering Applications

NBA 5190 Sustainability as a Driver for Innovation in the Entrepreneurial Organization

NBA 6030 Sustainable Global Enterprise

NBA 6140 Creating the Future through Reverse Innovation

NBA 6190 Leaders in Sustainable Global Enterprise

ARCH 4621 Sustainable Architecture: The Science and Politics of Green Building

ARCH 6601 Environmental Systems II: Thermal Environmental Systems

CRP 5090 Community Development Seminar

CRP 5440 Resource Management and Environmental Law

CRP 5460 Introduction to Community and Environment Dispute Resolution

CRP 5640 Building Material Conservation

CRP 5840 Green Cities

CEE 3410 Introduction to Geotechnical Engineering

CEE 4440 Environmental Site and Remediation Engineering

LA 6070 Emerging Dimensions in Urban Ecology and Sustainable Practices

DEA 6250 Collaborative Sustainable Building Practice

DEA 6610 Environments and Health

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Independent Concentration

“The commercial real estate industry is a complex, multi-faceted environment wherein numerous niches exist where an individual can establish expertise and provide value.”

The Baker Program in Real Estate curriculum is designed to provide unmatched breadth of commercial real estate knowledge within the require core combined with the opportunity for each student to define a niche specialization through their concentration. The Independent Concentration exists for those students who wish to develop an even more defined, narrowed concentration, or wish to focus on an area outside existing concentrations.The Independent Concentration is typically pursued by students who have a very clear, defined real estate career objective and wish to use the concentration to further establish their niche specialization.

Procedure for the Independent Concentration:

Your first step is to contact the Director of Graduate Studies for Real Estate and submit a one-page proposal that sets forth (1) Name of proposed concentration (2) Rationale for your proposed concentration think: elevator speech where you explain your concentration (3) Proposed courses (min. 4 courses and 12 credits)

The following are course selections for Independent Concentrations, and are intended for illustrative

purposes only:

Development of Residential Housing & Golf Course Communities

HADM 6020 Spa and Resort Development

HORT 3300 Golf and Sports Turf Management

HADM 6033 Operations & Planning of Senior Living and Related Facilities

LA 6180 Site Construction

Retail Real Estate Development

CRP 6592 Retail Real Estate Development

AEM 4400 Retail Strategy

AEM 6700 Economics of Consumer Demand

NBA 5200 Retail Operations

HADM 6245 Real Estate Location Analysis

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Transfer CreditTransfer credit is not typically recognized towards fulfilling Baker Program in Real Estate program requirements. Students seeking to transfer credit may petition the Graduate Real Estate Field Faculty by way of the Director of Graduate Studies.

Core Course ExemptionA student may petition for exemption from a core course requirement if proficiency in the subject area can be demonstrated. In general, completion of a similar course at the undergraduate level is not sufficient to exempt a core course. Course exemptions will not be permitted for CRP 6580 Residential Development and CRP 5075 Real Estate Project Workshop.

Petition forms can be found in the Program office. Petitions must first be approved by the course instructor and then by both the student’s advisor and the Director of Graduate Studies. Note that a transcript, and, in some cases, a syllabus must be attached to the petition form if exemption is based on previous coursework. A resume must be attached if seeking exemption based on experience of subject matter. Approval of exemption from a core course will not reduce the 62 credit hours required for graduation.

Course Policy

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Free Electives

In addition to the courses you select to create a concentration, you will choose a minimum of 6 credit hours of free electives. You can choose any of Cornell’s upper-level courses (4000 level or above.) Naturally, all the courses listed under any concentration can also be taken as free electives but don’t overlook many other course offerings available to you that can be found in the “Courses of Study 2013 – 2014” which can be found online at www.courses.cornell.edu. The list below includes some of the more popular elective courses that Baker Program in Real Estate students have selected in the past:

Varies International Exposure Trips (China, India, Latin America)

Languages Eg. SPAN 1210 Elementary Spanish I

CRP 5080 Introduction to GIS

CRP 5590 Legal Aspects of Land Use Planning

CRP 5850 Real Estate Negotiations

CRP 6430 Affordable Housing Policy & Programs

CRP 6591 Commercial Development in Real Estate

CRP 6592 Retail Development in Real Estate

CRP 6593 Introduction to Green Real Estate

HADM 4770 Advanced Business Modeling


HADM 6220 Hospitality Asset Management

HADM 6250 Securitization & Structured Financial Products

HADM 6271 Investment in Real Estate Securities and Funds

HADM 6770 Advanced Business Modeling

NBA 5060 Financial Statement Analysis

NCC 5500 Financial Accounting

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The following Professional Development and Applied Learning Opportunities have proven popular with Baker Program in Real Estate students and should be considered when planning your course selections.

Competitions

The following Professional Development and Applied Learning Opportunities have proven popular with Baker Program in Real Estate students and should be considered when planning your course selections.

Baker Program in Real Estate students may participate in established real estate student competitions against teams from prominent U.S. and international universities. These competitions provide opportunities to apply knowledge acquired on campus to real-world problems. The following list includes competitions that invite teams of graduate real estate students:

• University of Texas – Austin Real Estate Finance Challenge• Ed Bacon Urban Sustainability Design Competition• Urban land Institute – Hinds Urban Design Competition• George Washington University Development Case Competition• University of North Carolina Case Competition• MIT Case Competition

Historically, the Baker Program provided financial support, training, and class release time for a team to attend the University of Texas-Austin competition. Financial support is not available for other competitions. If students desire to enter a team (s) in any other competition as representatives of Cornell University, permission must be obtained from the Program Director and Director of Graduate Studies in advance of registration. Students contemplating competing in any competition must gain approval in advance for any missed class time.

Cornell Real Estate Review

Students may earn credit (1 credit per article) for submission of an article of publishable quality to the Cornell Real Estate Review.

Professional Development Workshops

The Cornell Baker Program in Real Estate offers a variety of professional development workshops during the academic year. The workshops or courses, often offered during weekends, provide the opportunity to update skills, explore a new, cutting edge issue in the real estate field, or study a topic critical to your real estate business within an intensive format. The workshops tend to feature small classes of peers aimed at advanced specific skills sets key to the real estate industry.

One credit from these workshops may be counted towards the Leadership and Management distribution requirement.

Independent Study

Please contact the Program office to get information about how credit may be earned for independent study. A completed “Application for Independent Study Credit” form must be completed, signed by the supervising instructor and returned to the Baker Program office before the independent study may begin.

Academic Standards Minimum Grade Point Standards

• With the exception noted below for GTRS students, a cumulative grade point average of 2.5 must be maintained.

• No grade below C will be accepted for meeting the 62 credit hour requirement. • Passing grade below C in a required course will still constitute completion of that course requirement,

but the credit hours for that course will not count toward the 62 required for graduation. If a grade lower than C is received in a required course, an additional course must be taken which reinforces the subject matter of the required course. Such additional course(s) will be subject to advisor approval.

• No more than six credit hours of grades below B– will be accepted for meeting the 62 credit hour requirement. Partial credit from a course could be used to meet this six credit hour maximum. If a stu-dent has received a C in two four-credit courses, for example, only six of these eight credits can count toward the 62 credit hour requirement.

Minimum/Maximum Course Load

The minimum full time course load for a fall or spring semester is 12 credit hours; the normal Baker Program in Real Estate course load for a semester is 15.5 credit hours.

The Baker Program in Real Estate will allow a maximum of 18.5 credit hours in any semester to count toward the degree.

We strongly encourage students to maintain a courseload that allows them to participate in some of the many extracurricular activities offered. For more information, see page 39.

Incomplete

Coursework must be completed within one year from the date of the end of the course in which the “incomplete” grade was given. After that time the incomplete becomes a permanent part of the student’s academic record with a grade of INC. No credit is given for an INC.

Undergraduate Courses

Students may earn no more than ten credits for undergraduate level classes at the 4000 level, and receive no credit toward graduation requirements for undergraduate classes below the 4000 level—the only exception being that concentration or language interests which might require additional undergraduate-level classes may be approved by petition to, and approval by the student’s faculty advisor and the Director of Graduate Studies. Such petitions must be submitted on an individual basis.

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Pass/Fail Grade Options

All core MPS/RE courses must be taken for a letter grade, with the exception of CRP 5370: Real Estate Seminar Series, which must be taken pass/fail. In addition, courses applied toward concentration and management & leadership distribution requirements must be taken for a letter grade if that option exists. Free electives may be taken pass/fail. Subject to the above requirements, any courses taken in addition to the 62 credits needed for graduation may also be taken pass/fail.

Attendance

Attendance and contribution in a meaningful, informed way to discussions is required in every class. No absences are permitted except in medical emergency. More than two excused absences due to medical emergencies in a core course, particularly those taken with a Pass/Fail grading option, may result in an F grade for the semester.

Appeals

All petitions for appeal or change from curricular requirements are subject to final approval by the Director of Graduate Studies.A

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Academic Deficiency

A GPA below 2.5 in any semester will cause the student to be subject to action by the Real Estate Field. Such action could be a warning, final warning, mandatory leave of absence, or a mandatory withdrawal. Action with respect to any student who fails to meet minimum GPA standards will be taken by an academic standards committee and communicated to the student in writing by the Director of Graduate Studies. A copy will be sent to the student’s advisor.

The following actions may be taken:

• Warning: Improvement in academic performance must be attained or possible further action will

be necessary.

• Final Warning: Unless the minimum required cumulative GPA is achieved in the following semester,

mandatory leave or mandatory withdrawal is probable.

• Mandatory Leave of Absence: A student under mandatory leave of absence may not return to the

Baker Program in Real Estate for a specified period of time.

• Withdrawal: A student who is required to withdraw is not eligible for readmission to the Baker

Program in Real Estate.

Academic Integrity

Absolute integrity is expected of every Cornell student in all academic undertakings. Any fraudulent act by a student to advance his or her academic status merits a severe penalty. Such cases are governed by the Code of Academic Integrity.

Students are required to familiarize themselves with the Policy Notebook for the Cornell Community. In particular, carefully review the Code of Integrity of the Policy Notebook, which can be found on the web at http://cuinfo.cornell.edu/Academic/AIC.html.

Conditional Admission

Students may be admitted under a conditional status which requires that they maintain a 2.5 GPA for their first semester in the Baker Program in Real Estate. After successful completion of that requirement, the condition will be lifted.

Grade Point Average

To compute the GPA:

Multiply the number of credit hours per course by the grade points for the grade received in the course. Add the grade point totals and divide the sum by the total number of credit hours, either by term (for a semester GPA), or the total (for the cumulative GPA.)

S/U and ESL (English as a Second Language) grades are excluded from GPA calculations.

The table below demonstrates the relationship between letter grades and grade points:

Letter Grade Grade Points

A+ = 4.3

A = 4.0

A- = 3.7

B+ = 3.3

B = 3.0

B- = 2.7

C+ = 2.3

C = 2.0

C- = 1.7

D+ = 1.3

D = 1.0

D- = 0.7

F = 0.0

INC = 0.0

S = Satisfactory

U = Unsatisfactory (No credit)

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Related Degree OpportunitiesMBA/MPS-RE Dual Degree Programs

The Baker Program in Real Estate offers both two year and three-year dual degree programs with Cornell’s Johnson Graduate School of Management. Students must be admitted separately to both programs. In the three year program, students spend three semesters in residency at each of the two programs—taking their first year’s work entirely in one program, their second year’s work in the other program, and their third year’s work divided between the two. The two-year dual degree begins in May at the Johnson School followed by a year in Real Estate and the second year divided between the two programs. After the successful completion of the dual degree programs, students receive both MPS in Real Estate and MBA degrees. Those considering dual degree options should be aware that it is not possible to change options (i.e., three-year to two-year) once the program has begun nor to apply for admission to the dual degree program post-enrollment.

MRP/MPS-RE, MLA/MPS-RE

The Baker Program in Real Estate offers a three-year dual degree program with the Masters of Regional Planning and the Masters of Landscape Architecture. After the successful completion of the dual degree programs, students receive both MPS in Real Estate and an MRP or MLA degree.

Note: All dual degrees are expected to attend CRP 5370: RE Industry Seminar, during every semester at Cornell.

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Real Estate Minor

The Cornell University Baker Program in Real Estate offers a Graduate Real Estate Minor option for graduate students enrolled in any College at Cornell. The requirements for completion of the graduate minor in real estate include completion of Principles of Real Estate (HADM 6200) or Real Estate Development Process (CRP 5320) and any three or more of the following core real estate courses totaling 12 credits:

Offered in Fall






CRP 6591 Commercial Real Estate Development 1.5 Credits

CRP 6592 Retail Real Estate Development 1.5 Credits


Offered in Spring

CRP 6560 Real Estate Transactions & Deal Structuring 3 Credits


In order to have the Real Estate Minor appear on the Cornell transcript, students must complete the Graduate Minor in Real Estate form available from the Baker Program in Real Estate office.

Program Policies and ProceduresAdvising

A faculty advisor is assigned to each student prior to the start of classes. The advisor’s role is to assist the student in choosing a concentration, designing a course of study, and formulating career plans that suit the student’s needs and interests. A student may elect to change the assigned advisor after the first semester of residence to achieve a closer match of interests. And, to supplement the support of your advisor, you may receive individualized, attentive, and multi-faceted counsel and support from many sources including alumni mentors, Advisory Board mentors, and members of the Cornell Real Estate Council network – in addition to the numerous industry leaders brought to campus.

Career Services

Policy on Professional Conduct of the Job Search

Career Services provided through the Baker Program in Real Estate observe the standards set forth in the Principles of Professional Conduct of the National Association of Colleges and Employers. A complete copy of the standards is available at NACE Web online at http://www.naceweb.org/principles/guide. The purpose of these standards is to assure that both students and employers appropriately conduct their employment-related activities.

In addition to the Principles of Professional Conduct of the National Association of Colleges and Employers, students wishing to participate in Cornell Career Services on-campus recruiting are required to adhere to the additional standards set forth by Cornell Career Services. A complete copy of the on-campus recruiting policy for students is available online at http://www.career.cornell.edu/students/jobs/recruiting/

Students must also complete the Cornell CareerNet system on line tutorial if they wish to participate in on-campus recruiting through Cornell Career Services.

All students are responsible to follow these standards and conduct their job search in a professional and ethical fashion at all times. Any reported violation of these standards may lead to the suspension of services offered through the Baker Program in Real Estate.

Policy on Reciprocity

Students wishing to be considered for reciprocity privileges from the Johnson School of Management or Hotel School career services must express their interest and participate in mandatory reciprocity sessions held during the fall semester.

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Assistantships and Student Financial Aid

Graduate Teaching and Research Assistants

The Cornell Baker Program in Real Estate is pleased to offer a limited number of Graduate Teaching/Research Specialist (GTRS) appointments. A GTRS position is considered an opportunity for Baker students to gain valuable work experience while contributing to the mission of the Program and Cornell University. GTRS appointments are contingent upon enrollment in the Baker Program in Real Estate for the academic year and are typically awarded for one semester with some appointments eligible for renewal the following semester. GTRS appointments may be terminated at any time, including prior to the end of the appointment, due to performance or conduct failing to meet expectations. Students holding GTRS positions are expected to:

• Adhere to Baker Program in Real Estate, Graduate School and Cornell University policies and

expectations of professional conduct.

• Maintain a 3.25 GPA while in the GTRS position.

• Submit weekly progress reports of GTRS activities.

• Be enrolled in a minimum of 12 credit hours and a maximum of 17 credit hours per semester.

• Commit to 10 hours of in-office work per week.

• Exhibit the utmost professional and ethical behavior at all times. Each Baker student serving as a GTRS

is considered a staff professional by the students, alumni, council members and the public that are served.

GTRS’s will often work with sensitive information and must preserve the confidentiality of that

information.

Teaching Assistants

The Cornell Baker Program in Real Estate has a select number of teaching assistant positions available to 2nd year students within our core courses during both the fall and spring semesters. The selection process is administered by the faculty from a pool of interested students. Teaching assistantships require a commitment of 7.5 hours per week. Professors have the discretion to take on a second assistant if needed, in which case they will be responsible for funding of the position.

All international graduate students are required to participate in an ITA Language Assessment (ILA) before beginning any teaching assistantship. The purpose of the 30—minute assessment is to determine an ITA’s level of English proficiency and, once determined, inform ITAs and their departments of required CTE-ITA course work and appropriate teaching assignments. The ILA is designed to enable ITAs to deliver a speech sample that is representative of their true linguistic abilities. It consists of an interview and a brief teaching sample. Students should arrange for an ILA at least one semester before scheduled TA duties.

The oral proficiency portion of the ILA is conducted using a modified version of the ACTFL Oral Proficiency Interview (OPI). The ACTFL OPI is currently used worldwide by academic institutions, government agencies, and private corporations for purposes such as: academic placement, student assessment, program evaluation, professional certification, hiring and promotional qualification. The ACTFL OPI is recognized by the American Council on Education (ACE) for the awarding of college credit. For more information please visit: www.languagetesting.com

For more information on the process and to schedule an assessment, visit the following site:http://www.cte.cornell.edu/programs-services/international-teaching-assistants/language-assessment.html

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Registering with the University – As you complete the “To-Do List” found on the Cornell University New Students portion of the Cornell website, https://newstudents.cornell.edu/grad/todolist/, you are satisfying the registration requirements. Please be sure to take care of all the forms and the “before you arrive” items. The “Check Registration Status” portion will be available on August 20th and will notify you of any holds preventing you from registering. If there are any impediments to your registration, you can take care of them at the check-in event:

Graduate and Professional Student Welcome and Check-In Monday, August 26; 10:30 am - 12:30 pm, Barton Hall

International students, please check in at the International Students and Scholars Office (ISSO) in Caldwell Hall, Room B50, when you arrive on campus.

Cornell ID cards - At the check-in event you will be issued your Cornell ID card.

If, after the third week of classes you are not registered, you will lose access to university services and be charged a $350.00 late fee, in addition to finance charges. If you register after the sixth week of classes, you will be charged a $500 late fee, in addition to finance charges. Failure to register will impact financial aid, loan deferments and health benefits that rely on in-school status. This may also affect the ability to use certain services on campus such as your Cornell Card, Library Services and Gannett Health Services.

Students can see their class schedules on the Student Center before they are actually registered. DO NOT use this as an indication that you are registered!

Enrollment

Your course plan for your first semester is on page 11 of the handbook. You will register for your Fall 2012 courses during orientation in August. After your first semester, you will participate in the regular university-wide enrollment process. To familiarize yourself with this process, and to begin to see the many courses available to you, go to http://www.cornell.edu/academics/courses.cfm. You will also want to become very familiar with the Registrar’s enrollment page, http://www.registrar.sas.cornell.edu/Student/coursenroll.html, as you will need the information there to enroll in courses. Some courses require that you submit an add/drop form (available at the Graduate School or the Baker Program in Real Estate office) or obtain and enrollment code from the instructor. If you are attempting to enroll in a course online and cannot, take the form to the first class and make the request of the instructor to initial it, allowing you to be enrolled by the Graduate School. The form can be turned in at the Baker Program in Real Estate office, 489 Statler Hall.

Pre-enrollment for the Spring semester will occur in October. If you decide to make changes to your schedule at a later date, you can do so during the first 3 weeks of the Spring semester.

Support ServicesTutorial Services

At times, despite your strengths and successes in school and at work, you may have problems with some aspect of the Program. Please be mindful of this, so that you can recognize academic difficulty and take the necessary steps to resolve it. Those who are experiencing academic difficulty in courses or other degree requirements are expected to consult with the appropriate faculty member immediately and, if necessary, seek additional assistance through the Baker Program in Real Estate.

Information Technology Resources

Computers – http://www.cit.cornell.edu. Use of laptops is required by the Baker Program in Real Estate:

Tech Requirements The Baker Program in Real Estate recommends that students follow the guidelines of the University Center for Information Technology, located at:http://www.cte.cornell.edu/programs-services/international-teaching-assistants/language-assessment.html

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Please utilize the resources provided by the International Students and Scholars Office (ISSO). Newly Arriving International Students MUST check in to the ISSO no later than 30 days after the start date on your I-20 or DS-2019. If you do not check in at the ISSO, you may lose your valid immigration status in the U.S.

To check in, come to the ISSO at B-50 Caldwell Hall and bring with you:

• your passport,

• I-94 card and

• I-20 or DS-2019.

Address: B-50 Caldwell Hall, Ithaca, NY 14853 Phone: 607-255-5243 Fax: 607-255-2778 Email: [email protected] On the web at: www.isso.cornell.edu

English Skills

There are intensive summer English courses that begin in June designed to prepare you for study in the United States and to use English professionally. For more information, visithttp://www.cte.cornell.edu/itap/summer.html

English Skills for Teaching Assistants

In addition, International students for whom English is a second language are required to participate in the Teaching Assistant Program (ITAP), an assessment and skill building program designed for students that may be selected for Teaching Assistant positions. Information about the summer program can be found at http://cte.cornell.edu/programs-services/grads-future-educators-tas/index.html

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Extra-Curricular Activities

AREC

The Associate Real Estate Council (AREC) represents Cornell University students, staff and faculty interested in the real estate industry. AREC’s goal is to develop and promote Cornell’s contact with the real estate industry by hosting guest lecturers, promoting student research and organizing trips to industry seminars, conference and current development projects. Elections are held each fall for officers in AREC, and a Baker Program in Real Estate student serves as AREC co-president each year with a strong presence by Baker Program in Real Estate students in the AREC leadership.

Memberships in:

ULI

Baker Program in Real Estate students are provided membership in the Urban Land Institute (ULI) each year and expected to attend the ULI fall meeting in their first year. Student’s will want to identify the dates of the ULI fall meeting in advance and plan accordingly, including notifying your instructors of any class time that you may miss as a result.

CREW

The Baker Program in Real Estate and Commercial Real Estate Women (CREW) has established a research partnership whereby interested students may become members of CREW during their period of study at Cornell. Please contact the Baker Program in Real Estate for more information on becoming a CREW member.

The Baker Program in Real Estate sponsors a number of affiliations with professional associations in the real estate industry. Please visit the website (www.realestate.cornell.edu) for a current listings.

Living in Ithaca

Housing – Cornell University has Graduate and Professional student housing options, details can be found at http://living.sas.cornell.edu/live/wheretolive/housingoptions/graduate.cfm. Most students choose off-campus housing. Ithaca offers a large selection of houses and apartments for rent.

Parking and Bus Service – Please see the following webpage for information on getting around and parking in Ithaca and at Cornell: http://transportation.fs.cornell.edu/

General Program InformationMeet the Baker Program in Real Estate Staff

Dr. David Funk: Director and Senior LecturerAddress: 530 Statler HalEmail: [email protected]: (607) 255-3291

David manages all aspects of the Program, and teaches Real Estate Marketing and Management, and Real Estate Transactions and Deal Structuring.

Jack Corgel: Robert C. Baker Professor of Real Estate and Director of Graduate Studies for the Baker Program in Real EstateAddress: 450 Statler HallEmail: [email protected]: (607) 255-9949

Jack leads the field faculty, and oversees all academic aspects of the program. He also teaches Real Estate Finance and Investments

Beth VanDine: Assistant Director Address: 537 Statler HallEmail: [email protected]: (607) 255-8369

Beth coordinates student services, and manages the admissions and administrative processes for the Program.

Sung Won Suh: Teaching AssociateAddress: 537 Statler HallEmail: [email protected]: (607) 255-6673

Sung Won, BPRE alumni Class of 2006, is responsible for support of the teaching effort and oversees the BPRE website, e-mail and e-announcements and the Job Barometer project.

Mark Foerster: C. Bradley Olson Real Estate Faculty Fellow and LecturerAddress: 114 W. Sibley HallEmail: [email protected]: (607) 255-6877

Mark teaches the Real Estate Development Process and Real Estate Project Workshop courses, helps with other instruction, and is responsible for industry outreach.

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Baker Program in Real Estate Field Faculty

Robert Abrams: Senior Lecturer and Founding DirectorAddress: 112 W. SibleyEmail: [email protected]: (607) 255-7110

Professor Abrams serves as both instructor and student advisor.

Jan deRoos, Associate Professorand HVS International Professor of Finance and Real Estate, Richard J. and Monene P. Bradley Director for Graduate StudiesFinance,Accounting and Real EstateAddress: 435 Statler HallEmail: [email protected]: (607) 255-8716

Walter Boudry, Assistant Professor, Real EstateAddress: 465A Statler HallEmail: [email protected]: (607) 255-9003

Richard Booth, ProfessorCity & Regional PlanningAddress: 117 W. Sibley HallEmail: [email protected]: (607) 255-4025

Frank Becker, ProfessorDepartment of Design & Environmental AnalysisAddress: E106 MVR HallEmail: [email protected]: (607) 255-1950

Kieran Donaghy, ProfessorCity and Regional PlanningAddress: 315 W. Sibley HallEmail: [email protected]: (607) 255-4613

Kenneth Hover, ProfessorCivil and Environmental EngineeringAddress: 302A Hollister HallEmail: [email protected]: (607) 255-3406

Crocker H. Liu: Robert A. Beck Professor of Hospitality Financial Management Real Estate Address: 440 Statler Hall Email: [email protected] Phone: (607) 255-3739

Paul Carr: Adjunct Associate Professor Address: 315 Hollister Hall Email: [email protected] Phone: (607) 254-8978

*Real Estate Field Faculty – for a complete list including bio for faculty associated with the Baker Program in Real Estate, please visit:

http://realestate.cornell.edu/index.php/people/faculty/

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Peter Liu, Associate ProfessorReal EstateAddress: 465B Statler HallEmail: [email protected]: (607) 254-2960

Michael Tomlan, ProfessorCity & Regional PlanningAddress: 207 W. Sibley HallEmail: [email protected]: (607) 255-7261

Henry Richardson, ProfessorArchitectureAddress: 123 Rand HallEmail: [email protected]: (607) 255-3547

Daniel Quan, Professor Finance, Accounting and Real EstateAddress:442 Statler HallEmail: [email protected]: (607) 255-6404

Peter Trowbridge, ProfessorLandscape ArchitectureAddress: 440 Kennedy HallEmail: [email protected]: (607) 255-12738

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Other Important Staff and Departments

Big Red Barn Graduate and Professional Student CenterDining and meeting facilities for graduate studentsHours: Monday - Thursday: 8am - 10pm, Friday: 8am - 7:30pmWeekends by reservation only

Binenkorb Computer CenterAddress: 365 Statler HallPhone: (607) 255-8872Hours: Monday - Thursday: 8am - 11:30pm, Friday: 8am - 6:30pmSaturday: Noon - 6pm, Sunday: Noon - 11:30pm

University Bursar and Registrar – Day HallBursar – First floor, 255-2336Registrar – basement level

Graduate Schoolgradschool.cornell.eduLocation: Caldwell Hall

Geddes Computer Labhttp://www.aap.cornell.edu/aap/resources/it/Address: 305 W. Sibley HallPhone: (607) 255-1820

You will be set up with an account and 24-hour access to the lab during Orientation.

Gannett Health ServicesAddress: Located on Ho Plaza just west of Willard Straight HallPhone: (607) 255-5155

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Attire

Many classes, in particular the weekly Industry Seminar, require “business” dress. This is also true of events sponsored by Baker Program in Real Estate. “Business” attire consists of ties, suits or slacks and sport coat for men and suits or jacket and skirts or slacks for women. “Business Casual” would be sport coats and slacks or khakis (ties optional) for men and skirt or slacks and blouse or sweater for women. Footwear options should always take into consideration the changing weather conditions Ithaca experiences. Whenever you travel with the Program for events off campus, dress codes should be observed.

Business Casual for Women Business Casual for men

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Calendar of Events

The Cornell University Academic Calendar can be found at http://www.cornell.edu/academics/calendar/index.cfm

The calendar below attempts to identify the important dates over your next two years in the Program. Please refer to the Baker Program in Real Estate website for definitive dates and times.

2013-2014 Baker Program in Real Estate Events:

October 10th - 11th 31th Annual Cornell Real Estate Conference in

New York City All Baker students attend

October 12th - 16th Fall Break at Cornell University

November 27th – December 1st Thanksgiving Recess

December 7th Last scheduled day of classes

December 20th Last scheduled day of exams

January 22nd Spring 2013 classes begin

May 25th Commencement

Note: Commencement for 2015 will be available in the early spring of 2015. Please be aware that hotel space in Ithaca is limited and there will be Baker Program in Real Estate activities and events for students and their families. We strongly suggest that you book rooms now.

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Cornell University Baker Program in Real Estate114 West Sibley Hall

Ithaca, NY 14853-6701607.255.7110

www.realestate.cornell.edu

cornell university baker program in real · pdf filethe 2013-2015 cornell university baker...

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