Univ of Southern California
University of Southern California
black horizontal bar for print styles
Please note: Due to late revisions, some text on this page differs from what appears in the printed version of the USC Catalogue. The changes appear below as highlighted text, with corresponding explanations appearing in the right margin.

Courses of Instruction

Real Estate Development (RED)

RED 500 Real Estate Development and the Economy (2, Sm) Linkages between national and regional economies and the performance of the real estate sector. Anticipating development trends. Public policy applications.

RED 509 Market Analysis for Real Estate (4, Fa) Explores macro and micro aspects of residential, retail, office, and industrial markets and examines methodologies for analyzing such markets for real estate development/investment purposes. Prerequisite: RED 542.

This new course is available beginning fall 2011.

RED 510 Real Estate Practice and Principles (4, FaSp) Fundamental principles of real estate analysis; economics; capital markets; development decision making; relationships between real estate markets and federal, state and local government policies; property value.

This new course is available beginning fall 2011.

RED 511 Foundations of Real Estate Analysis (4, FaSp) Principles of real estate analysis; capital markets; importance of uncertainty and metrics of risk; investments; valuation techniques; use of debt and equity, leases, taxes. Prerequisite: RED 510.

This new course is available beginning fall 2011.

RED 512 Real Estate Project Analysis (4, FaSp) Fundamental economic theories; analytical techniques; practical applications for market analysis of various forms of real estate. Prerequisite: RED 511.

RED 541 Finance Fundamentals for Real Estate Development (2, Sm) Introduction to the general principles of finance with application to real estate development, including capital markets, financial institutions, valuation and risk management.

RED 542 Finance of Real Estate Development (3, FaSm) Theory and methods of real estate finance and investment. Real estate investment analysis, real estate entities, taxation; introduction to securization of real estate equities, debt. Prerequisite: RED 541.

RED 544 Real Estate Capital Markets (2, Fa) Explore structure, instruments and institutions of real estate capital markets. Consider linkages between real estate and capital markets. Assess role of Real Estate Investment Trusts. Prerequisite: RED 542.

RED 545 Advanced Real Estate and Financial Modeling (2, Sp) Quantitative problem solving using computerized modeling. Complex debt financing, including lender participation, subordination, joint venture structuring, systematic treatment of real estate portfolios. Prerequisite: RED 542.

RED 546 Applications of Real Estate Finance to Problems of Development (3, Sp) Advanced topics in finance applied to cases and problems of real estate development; emphasis on structuring, finance and evaluation of various types of development projects. Prerequisite: RED 542.

RED 547 Project Management and Construction (2, Sm) Managing the building phase of development. Architectural and engineering aspects of construction management for the real estate developer.

RED 551 The Approval Process (4, FaSpSm) Approval process for real estate development including land use entitlement, site selection, zoning, environmental review, community and government relations, infrastructure financing, ethical issues, negotiation skills.

RED 562 Legal Issues in Real Estate Development (4, FaSp) Ownership and transfer of real estate; formation and enforcement of contracts; business associations; environmental regulation; taxation of property transfers; acquiring, financing, leasing of commercial property. (Duplicates credit in former RED 662.)

RED 563 Introduction to the Asset Management of Real Estate (2, Fa) Overview of institutional asset management: creating and implementing investment and portfolio strategies through the development, acquisition, underwriting, and operational stages of the investment, asset disposition.

RED 564 Issues in Asset Management of Real Estate (2, Sp) Advanced issues in institutional asset management. How value is created during investment process with focus on tactical, operational, and strategic goals of asset and owner. Prerequisite: RED 563.

RED 571 Introduction to Appraisal Principles, Procedures, and Standards (4, Fa) Valuation concepts. Theory and problem solving. Cost, sales comparison, and income approaches.

RED 572 Advanced Appraisal Approaches and Applications (2, Sp) Highest and best use. Advanced income capitalization. Advanced cost and sales comparison approaches. Advanced applications. Recommended preparation: RED 571.

RED 573 Design History and Criticism (2, Sm) The concepts, language and metaphors of design-related disciplines are examined in relation to design and construction values and choices in real estate development. (Duplicates credit in former RED 673.)

RED 574 Building Typologies (2, Fa) The exploration of categories of building types, including retail, industrial, residential, office and institutional, using key examples or case studies from each. (Duplicates credit in former RED 674.)

RED 575L Community Design and Site Planning (2-4, max 8, Sp) Physical implementation of development projects. Students will develop concept plan, preliminary design and marketing plan for selected domestic and/or international development sites. (Duplicates credit in former RED 675L.)

RED 583 International Development Opportunities (2, Sp) A survey of various markets prominent in the global real estate community. Protocols for analyzing international development opportunities and cultural, political, and socioeconomic considerations.

RED 585 Comparative International Development Workshop (2-4, Sm) Comparative study tour focused on understanding international real estate development practices and markets, site visits and meeting with principals.

RED 590 Directed Research (1-12, FaSpSm) Research leading to the master’s degree. Maximum units which may be applied to the degree to be determined by the department.

RED 598 Real Estate Product Development (2-4, max 12, FaSpSm) An evaluation of various real estate development types. Case studies and site visits.

RED 599 Special Topics (2-4, max 8) Current issues, trends, and developments in real estate development.