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Steers Center for Global Real Estate

Steers Center for Global Real Estate

The Steers Center for Global Real Estate offers students unparalleled access to the real estate industry at a global level through a multi-faceted approach that harnesses the best of Georgetown University and the Washington, D.C., real estate market.

In 2015, Georgetown McDonough aligned its real estate program with industry luminary Robert H. Steers (B ’75), CEO of Cohen & Steers Inc., a pioneering global investment manager and the first investment company to specialize in listed real estate. Steers and partner Martin Cohen co-founded Cohen & Steers Inc. in 1986. Since then the company has become a dominant manager of portfolios specializing in global real estate securities, global listed infrastructure, real assets, large cap value stocks, and preferred securities.

Steers’ accomplishments inspire Georgetown McDonough students pursuing careers in real estate and attract industry leaders to the business school. With the dedication of Steers and his wife, Lauren, the school has elevated its role in the study of national and global real estate to prepare students for careers as leaders in the field.

Real Estate Curricula

Students benefit from training that integrates real-world activities throughout their academic program, effectively giving them a head start on their real estate careers. The Steers Center for Global Real Estate's uniquely structured curriculum, including the applied learning program known as the Real Estate Clinic, offers students experiential learning opportunities and hands-on application. The Real Estate Clinic’s live deal underwriting fundamentally changes the experience for Georgetown students.

Students are immersed in an innovative curriculum rooted in the complex experiences and problems of the real estate industry. Students have the opportunity to intern year-round with leading real estate companies located in Washington, D.C., throughout the U.S., and around the world.

Students meet individually with faculty to discuss their career aspirations and to assemble a customized plan to achieve their goals. Through frequent interaction with faculty and alumni mentors, students can refine plans, amend goals, and prepare for employment following graduation.
 
Curricula
The undergraduate and MBA-level curricula at Georgetown McDonough are based upon a highly applied, Four Quadrant (public, private, debt, and equity) model of the real estate capital markets. The pedagogical philosophy is one of “top down and bottom up,” addressing macro-economic issues and implications on real estate investments; financial and physical attributes at the property level; and knowledge of technical areas such as Argus and Excel-based financial modeling.

Course Offerings

Undergraduate:
Real Estate Finance – Introduction to the principles of real estate with an emphasis in finance; real estate and the economy, financing residential properties, sales contracts, leases, appraisal, land use controls, and the real estate development process; exposure to Argus and Excel.
 
Real Estate Clinic – Analysis of live real estate transactions across the four major product types and throughout U.S. markets for global investment managers; development of underwriting philosophy, asset valuation, and risk management; significant exposure to Argus and Excel.
 
MBA:
Real Estate Equity – Private and public investments in multi-family and commercial real estate; physical and financial influences on asset valuation and portfolio performance; and the REIT industry.                                                                          
Real Estate Debt – Evaluation of the implications and usage of leverage on the real estate investment; focus split between private (direct lending) and public (CMBS & RMBS); coverage of distressed debt investment and other products such as subordinate debt.

Real Estate Clinic – Analysis of live real estate transactions across the four major product types and throughout U.S. markets for global investment managers; development of underwriting philosophy, asset valuation, and risk management; significant exposure to Argus and Excel.

Additional Course Offerings – Negotiations; fixed income analysis; financial markets; entrepreneurship; derivatives; private equity; investment analysis; and real estate options.

Extracurricular Opportunities (BSBA & MBA):
To provide students with an applied understanding of technical areas within real estate, the center offers significant extracurricular opportunities, such as, the fall and spring McBride Family Lecture Series and the spring Real Estate Luminaries.