Minor in Real Estate

The SHA Minor in Real Estate provides a sequence of courses for students to understand the variety of skills and perspectives required for developing, implementing, and transacting a successful real estate asset. With a program including Hub requirement courses, students are exposed to real estate disciplines with essential accounting, financial modeling, feasibility studies and valuations, and transaction advisory. Entering the program through the SHA HF 210 Financial Accounting course, students will work in individual and/or team projects, network with C-suite executives, interact with SHA’s Real Estate Advisory Council, and pursue internships for application of the skills acquired.

Students must maintain a grade of C or higher in all courses taken toward the Minor in Real Estate.

Learning Outcomes

• Develop a macro-view of the entire real estate lifecycle, focusing on various asset types—office, retail, residential, hospitality, and fractional.
• Understand what makes real estate an attractive investment and how it differs from other types of investments.
• Gain a strong foundation for success in the world of real estate through the study of real estate finance, feasibility analyses, asset valuations, transaction, and development.
• Develop an understanding of real estate development in global markets and learn how to manage risk and volatility in these markets.
• Understand the pressures of a fast-paced real estate environment, including the fast-evolving social and economic conditions around the world.
• Learn how climate change, demands for equitable development, and the changing work/home arrangement will impact the real estate sector in the future.
• Learn how to apply environmental, social, and governance (ESG) criteria as new metrics for performance.

Minor Requirements

Required Courses (12 units)

• SHA HF 210 Financial Accounting for the Hospitality Industry (4 units)
• SHA HF 411** Hospitality Real Estate Finance (4 units) OR QST FE 469 Real Estate Finance (4 units)
• SHA HF 480 Hospitality and Commercial Real Estate Development (4 units) OR QST SI 469 Real Estate Development (4 units)

Electives (8 units)

Students will be required to select a minimum of 8 units from the elective options listed below. They can choose any of the elective courses listed below; however, the pairs of SHA courses labeled “Coreqs” must be taken as coreqs in the same term. All other courses on the list of electives can be taken at any point (and in any order) during the student’s program.

• Hospitality Purchase & Sale Coreqs: SHA HF 314 and SHA HF 315 (4 units total)*
• Hospitality Asset & Stakeholder Management Coreqs: SHA HF 415 and SHA HF 416 (4 units total)**
• SHA HF 322 Hospitality Design (4 units)
• CAS AH 201 Understanding Architecture (4 units)
• CAS AH 387 Boston Architecture & Urbanism (4 units)
• CAS AH 399 History and Theory of Landscape Architecture (4 units)
• CAS EE 201 World Regional Geography (4 units)
• CAS EE/IR 304 Environmentally Sustainable Development (4 units)
• CAS EE 475 Urban Ecology (4 units)
• CAS SO 306 Boston’s People & Neighborhoods (4 units)
• ENG EK 225 Introduction to Energy Conversion & Environmental Engineering (4 units)
• QST LA 360 Real Estate Law (4 units)

*Pair 1: Hospitality Purchase & Sale Coreqs (4 units total)
These coreqs cover two critical steps of the real estate life cycle—the initial purchase of the asset and ultimately the sale of the asset exit of the investment. Both these critical steps require the investor to conduct detailed financial, market, and legal due diligence that will be taught in these courses. Students must take both of the following courses simultaneously in the same term. These courses will be scheduled similar to a four-unit class schedule (two days a week at the same time, i.e., a M&W or T&Th schedule).

• SHA HF 314 Hospitality Market Feasibility 2 units
• SHA HF 315 Fundamentals of a Hotel Real Estate Deal 2 units

**Pair 2: Hospitality Asset & Stakeholder Management Coreqs (4 units total)
The success of a hospitality investment depends on several factors beyond financial performance, such as efficient use of available real estate, making appropriate capital expenditure decisions, and adopting the right business model with the right partners. These two courses teach students how to leverage these decisions to enhance investment returns. Students must take both of the following courses simultaneously in the same term. These courses will be scheduled similar to a four-unit class schedule (two days a week at the same time, i.e., a M&W or T&Th schedule).

• SHA HF 415 Hospitality Asset Management (2 units)
• SHA HF 416 Franchise, Management & Independents (2 units)