Welcome to the Smeal College of Business at Penn State
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.

30 CREDITS

STEM-DESIGNATED

COMPLETE IN 1 YEAR

LOCATED AT PENN STATE UNIVERSITY PARK

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:
Penn State Smeal
Real Estate Analysis & Development
#SMEALVOICES

"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 '21Master 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 '20Master 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 EstateDirector 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 '21Master 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 '20Master 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 EstateDirector 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:
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.

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.

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.

LIANG PENG, PH.D.
Professor of Risk Management and King Faculty Fellow who specializes in real estate pricing models and measuring risk.

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.

JIRO YOSHIDA, PH.D.
Associate professor of Business and highly published researcher with expertise in asset pricing, real estate finance, and macroeconomics.
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:
REAL ESTATE SITE VISITS
MOCK INTERVIEWS
PANEL DISCUSSION
GUEST SPEAKERS
NETWORKING EVENTS
MENTORSHIP PROGRAMS
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.