MSc Real Estate Development

Year of entry: 2024

Course unit details:
Strategic Investment & Asset Management

Course unit fact file
Unit code PLAN60351
Credit rating 15
Unit level FHEQ level 7 – master's degree or fourth year of an integrated master's degree
Teaching period(s) Semester 1
Available as a free choice unit? Yes

Overview

This unit will introduce students to the role of the real estate asset manager, primarily from the perspective of property investment and portfolio management.  It will cover both the strategic aims and the tactical approaches that are used in the pro-active asset management of a real estate portfolio. 

The course introduces some of the main investment strategies adopted by active investment funds and provides a methodology to analyze them.

Principles and techniques of asset management are considered in the lectures and then discussed in the context of real properties.

Meanwhile, the course studies classical portfolio theory and standard asset pricing models at an introductory level. 

Aims

  • to introduce the principles of strategic investment and asset management
  • encourage informed debate over different investment strategies and styles of asset management
  • to explore the tactics used to pro-actively manage real estate assets
  • to encourage an inquisitive, critical and forward-looking approach to problem-solving and develop students’ ability to anticipate consequential effects of their decisions in investment and asset management

Teaching and learning methods

A range of teaching and learning methods will be adopted with conventional lectures used to introduce topics in a structured manner. There are opportunities for students to discuss the ideas in person as well as online.

As noted in the Programme Specification, all course material will be available online. Formative feedback will be given through Q&A, discussion and interactive activities.

The Blackboard system will provide a virtual place to continuously hold discussion among students as well as between students and tutors. Students can also use Blackboard system as a joint learning tool through FAQ section. Substantive written feedback on your assignments will be provided through Blackboard. 

 

Knowledge and understanding

  • Understand and apply macro strategies (asset allocation) as well as micro strategies (asset selection)
  • Understand and apply classical portfolio theory to real estate investment, and integrate the investment with a risk attitude
  • Explain the implications of management decisions for real estate asset value and ESG impact

Intellectual skills

  • Demonstrate a solid understanding of the active asset managment industry and major strategies
  • Critically evaluate information, make considered judgments, and produce innovative and credible solutions to a problem

Practical skills

  • Explain and apply the concepts of perfromance evaluation of asset management strategies
  • Explain and apply the concepts of portfolio construction and risk management by evaluating the risk and return of the portfolio

 

 

 

Transferable skills and personal qualities

  • Demonstrate the importance of attention to detail
  • Demonstrate sound ability to communicate ideas and arguments concisely, using appropriate language for the target audience
  • Demostrate the capability of discussing ideas and working in a group

 

Assessment methods

An individual critical report (3,000 words) - 100%

Feedback methods

Detailed feedback on summative assessments will be provided via Blackboard. This will be in written or audio format.

Recommended reading

Baum (2015) Real Estate Investment: a strategic approach 3rd edn. London: Routledge

Edwards, B.W and Naboni, E. (2013) Green buildings pay: design, productivity and ecology 3rd ed. Abingdon: Routledge

Haynes, B. P., Nunnington, N. and Eccles, T.  (2017).  Corporate real estate asset management: strategy and implementation.  Oxford: Elsevier

Johnson, G., Whittington, R., Angwin, D., Regner, P., & Scholes, K. (2013)  Exploring Strategy Text & Cases. 10th edn.  Harlow: Pearson Education UK.

Jowsey, E. (Ed.) (2014) Real estate concepts: a handbook. London: Taylor & Francis

PEDERSEN, LASSE HEJE. Efficiently Inefficient: How Smart Money Invests and Market Prices Are Determined. Princeton University Press, 2015. JSTOR, https://doi.org/10.2307/j.ctt1287knh. Accessed 16 Feb. 2023.

Porter, M (1998) Competitive advantage: creating and sustaining superior performance.  New York: Free Press [originally published 1985, this has an updated introduction and is available online]

Schon, D.A. (2016) The reflective practitioner: how professionals think in action. Abingdon: Routledge

[Originally published in 1991 by Ashgate Publishing Ltd]

Z. Bodie, A. Kane, A.J. Marcus, and J. Ravi, Investment: Asia Global Edition, McGraw-Hill, Latest edition

Study hours

Scheduled activity hours
Lectures 22
Tutorials 8
Independent study hours
Independent study 100

Teaching staff

Staff member Role
Yishuang Xu Unit coordinator

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