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Welcome to the Smeal College of Business at Penn State

DEADLINE EXTENDED: Due to increased interest, the final deadline to apply for our Summer 2022 intake has been extended to April 1, 2022. Apply here.

MASTER'S IN
REAL ESTATE ANALYSIS
& DEVELOPMENT

Build a future in commercial real estate
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Invest in Yourself

In just one year, gain the special analytical tools and techniques unique to the real estate industry with a STEM-designated master's degree from the AACSB-accredited and internationally ranked Penn State Smeal College of Business. Emerge with the skillset to succeed in careers such as commercial real estate analysis, real estate portfolio management, real estate research, commercial lending, development, public policy, and more.

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30 CREDITS

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STEM-DESIGNATED

one year icon

COMPLETE IN 1 YEAR

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LOCATED AT PENN STATE UNIVERSITY PARK

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PREP & COMPLETE ARGUS CERTIFICATION

Choose Your Track

The Penn State Smeal College of Business offers two academic tracks for those seeking a graduate degree in real estate analysis and development at Penn State University Park. Discover which track best meets your ambitions:

Master of
Professional Studies

TAILOR TO YOUR GOALS

Choose at least two credits in business electives such as entrepreneurship, consulting, and more based on your interests

CAPSTONE SITE PROPOSAL

Create and present a project proposal for a development site that meets stakeholder requirements applying real estate skills and knowledge

GRADUATE OUTCOMES

Pursue a wide range of leadership roles in real estate areas such as property management, development, financial analysis, and entrepreneurship

Master of
Science

EMPHASIS ON RESEARCH

Focus on advanced economics & statistics courses needed to conduct original research on real estate markets

CAPSTONE THESIS

Research and present an economic policy paper that applies empirical methods to a topic related to real estate investments, securities, or markets

GRADUATE OUTCOMES

Pursue doctoral education in areas such as real estate, finance, economics or business law; practice real estate research and work in economic policy

Penn State Smeal
Real Estate Analysis & Development

REQUEST INFORMATION
START YOUR APPLICATION

#SMEALVOICES

portrait of Martin Strenk

"As a branch manager at M&T bank, I began dealing with small business lending and relationship management. I really became interested in the analysis of tax returns and how we determined if a business was able to get funding from the bank. This became especially interesting when I began working with a few real estate deals. At that point, I knew I wanted to work in the commercial real estate space and decided that the fastest way for me to get there was through the MS-READ program at Penn State and Smeal."

Martin Strenk '21
Master of Science in Real Estate Analysis & Development
Executive MBA
portrait of Scott Eberhard

"The faculty in the Penn State Smeal Master of Science in Real Estate Analysis & Development (MS-READ) program are coming from prestigious schools. The quality of the education imbued by these professors puts Smeal right up there with top universities around the world."

Scott Eberhard '20
Master of Science in Real Estate Analysis & Development
portrait of Brent Ambrose

"We found that many career opportunities in real estate now require the specific analytic skills that you can obtain from a master's or even doctoral-level programs. Our program is designed to provide those skills for students to gain entry into the world of large institutional-grade investment analysis and decision-making."

Brent Ambrose, Jason and Julie Borrelli Faculty Chair in Real Estate
Director of the Institute for Real Estate Studies, and program faculty director

"As a branch manager at M&T bank, I began dealing with small business lending and relationship management. I really became interested in the analysis of tax returns and how we determined if a business was able to get funding from the bank. This became especially interesting when I began working with a few real estate deals. At that point, I knew I wanted to work in the commercial real estate space and decided that the fastest way for me to get there was through the MS-READ program at Penn State and Smeal."

Martin Strenk '21
Master of Science in Real Estate Analysis & Development
Executive MBA

"The faculty in the Penn State Smeal Master of Science in Real Estate Analysis & Development (MS-READ) program are coming from prestigious schools. The quality of the education imbued by these professors puts Smeal right up there with top universities around the world."

Scott Eberhard '20
Master of Science in Real Estate Analysis & Development

"We found that many career opportunities in real estate now require the specific analytic skills that you can obtain from a master's or even doctoral-level programs. Our program is designed to provide those skills for students to gain entry into the world of large institutional-grade investment analysis and decision-making."

Brent Ambrose, Jason and Julie Borrelli Faculty Chair in Real Estate
Director of the Institute for Real Estate Studies, and program faculty director

Core Real Estate
Knowledge

Designed for graduates with strong quantitative skills, this program delivers core institutional knowledge and rigorous research methods to solve business challenges facing the real estate industry. Examples of courses include:

QUANTITATIVE ANALYSIS
FOR REAL ESTATE

Explores widely used quantitative methods and their applications in business to solve real estate, financial, marketing, and risk management problems

CONTEMPORARY ISSUES
IN REAL ESTATE MARKETS

Surveys important issues in real estate markets including mortgage mechanics and calculations, valuing investment opportunities, financing corporate real estate and more

REAL ESTATE INSTITUTIONS
AND MARKETS ANALYSIS

Reviews modern real estate analysis, overview of risk management, and develops a series of analytical techniques associated with real estate risk analysis

REAL ESTATE
DEVELOPMENT AND ANALYSIS

Examines property analysis and deal execution as well as marketing, management, zoning, and financing with regards to office, retail, hotel, residential, and warehouse/industrial

VIEW MPS CURRICULUM
VIEW MS CURRICULUM

Led By Top Faculty

Faculty in the Smeal Department of Real Estate are accomplished educators and leading researchers, ranking among the top 5 globally for academic excellence.

Portrait of BRENT AMBROSE

BRENT AMBROSE, Ph.D.

Jason and Julie Borrelli Faculty Chair in Real Estate, professor of Real Estate, and Director of the Institute for Real Estate Studies who specializes in real estate finance, corporate finance, and fixed income security analysis.

Portrait of MALLORY MEEHAN

MALLORY MEEHAN, ESQ.

Assistant director of the Institute for Real Estate Studies, licensed attorney, appraiser, and realtor who focuses on the legal implications and financial risks when investing in commercial real estate.

Portrait of LIANG PENG

LIANG PENG, PH.D.

Professor of Risk Management and King Faculty Fellow who specializes in real estate pricing models and measuring risk.

Portrait of EVA STEINER

EVA STEINER, PH.D.

Associate professor of Risk Management and King Family Early Career Professor who is an international expert in real estate finance and real estate investment trusts.

Portrait of JIRO YOSHIDA

JIRO YOSHIDA, PH.D.

Associate professor of Business and highly published researcher with expertise in asset pricing, real estate finance, and macroeconomics.

VIEW REAL ESTATE FACULTY

Professional Support from
the Institute for Real Estate Studies

Master’s in real estate students benefit from the Penn State Smeal Institute for Real Estate Studies. The institute operates as a vital conduit between prominent real estate leaders and students, offering opportunities including:

1

REAL ESTATE SITE VISITS

2

MOCK INTERVIEWS

3

PANEL DISCUSSION

4

GUEST SPEAKERS

5

NETWORKING EVENTS

6

MENTORSHIP PROGRAMS

7

RESUME DEVELOPMENT

8

CASE COMPETITIONS

LEARN MORE

Earn a Dual Degree Combine your Master’s in Real Estate Analysis & Development degree with a secondary master's from Smeal in areas such as accounting, business analytics, corporate finance, or management. By waiving overlapping classes, you can potentially earn two degrees and two graduate certificates in two years for a truly custom education.

Combine your Master’s in Real Estate Analysis & Development degree with a secondary master's from Smeal in areas such as accounting, business analytics, corporate finance, or management. By waiving overlapping classes, you can potentially earn two degrees and two graduate certificates in two years for a truly custom education.

Plug Into Any Network With more than 88,000 Smeal graduates around the world and Penn State's largest dues-paying Alumni Association in the country, connect with accomplished peers and open doors wherever you go.

With more than 86,000 Smeal graduates around the world and Penn State's largest dues-paying Alumni Association in the country, connect with accomplished peers and open doors wherever you go.

Penn State Smeal
Real Estate Analysis & Development

REQUEST INFORMATION
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Penn State Smeal
Real Estate Master's Programs
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