Develop skills in market analysis, site selection, valuation and portfolio management to prepare for a career in commercial real estate with the Master's in Real Estate Analysis and Development from the Penn State Smeal College of Business.
In just one year, gain expertise in analyzing real estate markets, assessing risk and return on investments, and understanding the legal and regulatory aspects of real estate transactions.
- Complete in one year or less at Penn State's University Park campus
- STEM-designated
- Prep and complete ARGUS certification
- Network with alumni, industry professionals via exclusive opportunities through the Borrelli Institute for Real Estate Studies
- No GMAT required
- Taught by experienced, world-class faculty
Choose your track
Smeal offers two academic tracks for those seeking a master's in real estate analysis and development. 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
Master's in Real Estate Analysis & Development
Let's go into
business, together.
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Don't just take our word for it.
"The faculty actively prepared us for the workforce by bringing in alumni from all corners of real estate. This was both in formal and informal settings to help inform us about potential careers and to build relationships with those in the industry."
- Maxwell Brown '23Global Real Estate Analyst
"I chose this program because of Penn State's dedication to providing the best education possible. This real estate program caught my eye, and the more research I did, the more I wanted to pursue this program."
-Vanshika Agarwal '22
"I think the combination of resources that the program offers, as well as the name recognition, is unbeatable. I was impressed with how knowledgeable and helpful the staff was, as well as how many opportunities I had to network with potential employers and make impactful relationships."
-Brendan Barrett '22Global real estate analyst
Real Estate
Program
Structures
Master of Professional Studies
- This 30-credit program begins in August and spans two academic semesters divided into 7-week modules.
- Graduate with your degree in May to complete in nine months.
Master of Science
- This 30-credit program begins with online courses in the summer followed by two academic semesters divided into 7-week modules.
- Graduate with your degree in May to complete in one year.
Why partner with Penn State Smeal?
Earn two master's degrees in two years.
Penn State Smeal offers the ability to stack* multiple master's degrees and add specializations by waiving overlapping classes so you can build a learning plan as unique as your ambitions.
*Federal financial aid may only be used to pay for credits used to satisfy degree requirements. For more information on financial aid, please visit www.psu.edu and select "Costs and Aid".
Dedicated graduate career support.
As a Smeal master's student, you can leverage both the career resources available through the University and personalized support exclusively provided to our graduate community. We're here to help you develop your career strategy and connect you with top recruiters.
Reputation matters.
The AACSB-accredited Penn State Smeal College of Business is an internationally ranked research institution. Our world-class faculty are consistently ranked in the top 10 for research published in leading academic journals.
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.
94,000 Smeal alumni in your network.
94,000 business partners for life.
Our Penn State Smeal community is your greatest business asset. Our graduates are everywhere in the world and always in your corner - ready to open doors, offer advice and cheer you on.
Penn State Smeal
Master's in Real Estate Analysis & Development
Preparing you for your next great opportunity.
And the one
after that.
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