Course Description

MSRE 509: COMMERCIAL REAL ESTATE CAPITAL MARKETS (3 units)

This course examines the major capital sources for commercial real estate investment and highlights the recent trends in the capital markets. It compares and contrasts the four categories of real estate capital—private debt, private equity, public debt and public equity and discusses the instruments and deal structures in each category. Students will learn how to arrange the capital stock for a real estate transaction and how different structures allocate investment risk and return to various parties. Topics in this course include mezzanine financing, real estate syndication, private real estate funds, real estate investment trusts (REITs), commercial mortgage-backed securities (CMBS), and global real estate capital markets.

• Prerequisite passing grade in MSRE 500.

Estimated Program Costs

Notes about estimated program costs:

1. TUITION for the Ahlers Center's short-term study abroad programs is reduced from $1,565/unit to $1,173.75/unit so that students may use the extra funds toward airfare, accommodations, and other costs incurred while abroad.
2. PROGRAM FEE is NON-REFUNDABLE once you apply and are accepted to a program. This fee is not a deposit towards tuition, but rather a separate payment toward on-site logistical fees such as classroom rentals, speakers, overhead, group activities, some meals, and international health insurance.
3. AIRFARE is estimated as of October 17, 2024 using https://google.com/flights. Please note that the airfare estimated above is for a round trip flight between Los Angeles (LAX) and the course abroad location. If you are planning to travel elsewhere following your program abroad, you will need to determine airfare estimates separately. Please check current airfare using your departure and return cities for a more accurate estimate. 
4. ACCOMMODATION is to be obtained on your own. Post the application deadline and once faculty hotel is secured, the faculty hotel location will be shared with you so that you may book accommodations either at the same hotel, or close by (Airbnb, other hotel, etc.) as you so choose. It is strongly recommended that you wait to book until after the application has been closed, and you have received notice that you have been accepted to the program. 
5. In addition to the tuition, round-trip flight ticket, accommodations, and program fee, participants will be responsible for paying for ground transportation to/from airports, accommodations, and activities, meals not on the group itinerary, and personal spending money.

Application

Applications for Intersession 2024 programs will open on Friday, September 1, 2023. The application deadline for Intersession 2024 courses abroad is Wednesday, September 28, 2023. To be considered for acceptance, your online application must be complete and successfully submitted by this date. Once accepted to the program, you will have one week to commit to paying the non-refundable program fee. Applicants will be notified of acceptance by Monday, October 9, 2023. Once accepted, you must provide your flight itinerary and other post-acceptance requirements by . Further information on post-acceptance requirements will be provided to accepted students.

If you have already opened an online application, continue working on it by visiting the direct login page.

Pre-departure Meeting

Traveling students are required to attend the pre-departure meeting Date and Time TBD

Host Country Entry Requirements & Visa Information

Australia requires all travelers to carry a valid passport for entry into the country. It is the responsibility of students to ensure that their passport is valid for the necessary duration of time

U.S. citizens are required to obtain a tourist visa for entry into Australia through the Electronic Travel Authority, this process costs around $20USD in additional fees.  If you are not a U.S. citizen, click here to see if you will need a visa.

Accepted students should apply immediately for any necessary tourist visas. Students are solely responsible for obtaining their own visas. If you are required to obtain a visa, you may apply directly through the host country's consulate for a tourist visa or contact the Ahlers Center (see contact information below), for a visa service referral.
 

COVID-19 Travel Requirements

USD requires that all students and guests traveling internationally on a group program be in compliance with USD's Vaccination Requirement. This means that participants must be fully vaccinated against COVID-19 no later than 14 days prior to departure, or else have received an approved exemption to the Vaccination Requirement from the Student Health Center. Participants will be required to confirm their vaccination status by either uploading their vaccination cards, or by confirming their receipt of an Student Health Center exemption, via the online study abroad application following acceptance to the program abroad.

IMPORTANT: Although USD allows for exempted unvaccinated students to participate on programs abroad, unvaccinated students may encounter restrictions in the host country and should take care to review host country entry requirements and on-ground restrictions and safety measures.

Additional Questions

Ahlers Center for International Business
University of San Diego
340 Olin Hall
5998 Alcalá Park
San Diego, CA 92110
ahlers@sandiego.edu