REMB22- Real Estate Portfolio Management

Module Provider: Real Estate and Planning
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Module version for: 2017/8

Module Convenor: Dr Stanimira Milcheva

Email: stani.milcheva@henley.reading.ac.uk

Summary module description:

This unit aims to enable students to develop their understanding of the concepts of investment strategy, portfolio selection and performance measurement and their application to real estate markets. 


Aims:
This unit aims to enable students to develop their understanding of the concepts of investment strategy, portfolio selection and performance measurement and their application to real estate markets. It will develop students’ analytic capacity. Upon completion of the module, students should have a detailed understanding of key theoretical concepts in investment strategy and their application in a real estate context, be able to use statistical toolboxes for portfolio decision making, appraise critically published work in the field, and apply this knowledge to the analysis of real estate investment problems.

Assessable learning outcomes:
Upon completion of the unit, a student should be able to:

  • identify and explain key theoretical concepts from finance and economics relating to investment strategy, portfolio selection and performance measurement and be able to apply such concepts to real estate markets;
  • discuss, and appraise critically, relevant literature applying investment strategy, portfolio selection, pricing and performance measurement models to international real estate markets;
  • apply theoretical investment strategy and portfolio management principles to practical real estate problems;
  • analyse capital market data using quantitative techniques, to identify theoretically optimal portfolio strategies and assess manager performances;
  • interpret and evaluate published results of empirical research in the field.

Additional outcomes:
In addition, students will:

  • develop their business report writing skills through the coursework;
  • develop their IT skills through the computer-based workshops;
  • enhance their capacity to read complex published material in a critical fashion.

Outline content:
The unit will cover risk and return and investors’ investment preferences; models of portfolio selection and pricing (mean-variance portfolio theory, the capital asset pricing model); the place of real estate in mixed asset class investment strategies; structuring the property portfolio through sector and geographical mix; performance measurement, attribution analysis and the analysis of manager performance; and benchmarking and the measurement of real estate market activity. The module will draw on both academic and professional literature and utilise data and examples from international markets.

Brief description of teaching and learning methods:
The course will be delivered as a block release with on-line post course support. The block release teaching will comprise lecture supported by class tutorials and workshops with an individual assignment acting as a consolidating and integrating vehicle for the taught material.

The block release taught element will be supported by the use of Blackboard. The course information, handouts, presentations and assignment will be supplemented by the use of discussion between students on technical aspects of the assignment and other material. Formative assessments (for example multiple-choice self tests) will also be provided for self-monitoring and revision.

Contact hours:
  Block
Lectures 20
Tutorials/seminars 10
Practicals  
Other contact (eg study visits)  
   
Total hours 30
   
Number of essays or assignments 1
Other (eg major seminar paper)  

Summative Assessment Methods:
Method Percentage
Report 100

Other information on summative assessment:

One piece of project-based coursework which will involve data collection, statistical analysis, interpretation of results and production of report (approximately 3,000 words or equivalent, which takes into account the extensive spreadsheet work which will need to be done for the assignment).



As this is a core Module of Special Significance, students joining the MSc Real Estate Investment & Finance programme from September 2012 will have to achieve a mark of at least 40 in order to be awarded the MSc.



 


Formative assessment methods:

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx



Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Length of examination:
None

Requirements for a pass:
50%

Reassessment arrangements:
Single Project Assignment which will achieve a maximum mark of 50.
Reassessment will be by the same method as for the module's original assessment requirements, subject to variation by the Examination Board where appropriate.

Last updated: 21 July 2017

Letter 'IPO.MODCAT1STKT' - Generation started at 21/Jul/2017 21:45:07.33.

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