Indiana University – Undergraduate Real Estate Profile (UPDATED AUG 2023)

Alex Dilkovski’s Experience

When I first got to Indiana University, I felt a little overwhelmed by all the different paths the Kelley School of Business offered. I knew I wanted to study something related to finance, but I didn’t know which exact industry to focus on. Early on during my second semester at IU, I became friends with the Real Estate Club’s VP at the time. He introduced me to the club and encouraged me to participate in the semi-annual case competition the club hosts. Even though my commercial real estate knowledge was extremely limited at the time, I had a great time analyzing and pitching a real CRE deal. From that point on, I decided to commit to the real estate program at IU.

During that time, the club consistently attracted over 150 students to its weekly meetings with over 600 student members. As I progressed to my fourth semester at IU, the club’s appeal expanded even more. In my opinion, this growth can be attributed to the club’s ability to bring in engaging speakers from different corners of the real estate field. Through the weekly meetings, I’ve had the opportunity to learn about brokerage, development, real estate entrepreneurship, and many other industries. Having the ability to interact with this variety of guest speakers has helped me decide which industry I want to focus on in my CRE career. In addition to guest speakers, the Real Estate Club promoted program-sponsored trips to Chicago and Indianapolis for alumni engagement, career fairs, and case-study competitions. The club encourages students to network with CRE professionals and offers a variety of resources that can help students present themselves in a professional manner and succeed in networking.

The next stepping stone after the club is the Commercial Real Estate Workshop (CRW). This selective organization is intended to help students learn more about the commercial real estate industry and help clarify which path within the CRE field is best for them. The organization is structured as two case-based classes where you focus on a different aspect in the real estate industry each week. Teams are given a case from industry leaders across the market and present to these professionals on real estate-focused topics. This course allows students to build fundamental skills such as valuation, market research, and advisory, while networking with top professionals in the industry through visits to top firms.

The pinnacle of the Real Estate Program at IU is the Real Estate Private Equity Program (REPE). This highly selective program allows the Workshop’s top performers to gain real-world experience by underwriting live deals and committing non-controlling (LP) stakes. Sample Gates Real Estate Fund I is the largest student-managed private equity fund in the country with $4.2 million raised from investors.

Harrison Adams’ Experience:

Before coming to Indiana University I was somewhat aware of the Real Estate Program but had no idea how extensive the program is. Like many undergraduate students I was eager to involve myself in extracurricular clubs but was unsure where to start. I found the Real Estate Club my sophomore year, based on a friend’s recommendation and began attending speaker events. The club transformed my university trajectory from there. I committed to the program and decided to major in Finance and Real Estate.

After initially joining the Real Estate Club my sophomore year I was welcomed with open arms. Executive board members were enthusiastic and encouraged students to ask questions and guest speakers openly shared insight and advice about the real estate world. In addition to guest speakers, the Real Estate Club promoted program-sponsored trips to Chicago and Indianapolis for alumni engagement and career fairs. This taught me the value in networking and building your brand, points I remember Spencer Levy, Economic Chairman of CBRE, emphasizing during one of the club events.

The next steppingstone after the club is the Commercial Real Estate Workshop. This selective organization provided me with much-needed insight into all areas of the commercial real estate industry and helped clarify where I thought I may fit best. The organization is structured as two case-based classes where you focus on a different aspect in the real estate industry each week. Teams are given a case from industry leaders across the market and present to these professionals on real estate-focused topics. This course allows students to build fundamental skills such as valuation, market research, and advisory, while networking with top professionals in the industry through visits to top firms.

As a current senior I am finishing my real estate courses and proud to be an executive of the Real Estate Club in addition to being a member of the inaugural IU Commercial Real Estate Fund. I am extremely thankful for the guidance and support my professors and real estate program faculty have provided me. Professors are passionate about teaching students and encourage one-on-one meetings to discuss coursework, career aspirations, and general questions.

The IU Center for Real Estate Studies has provided me with many opportunities, and I am excited to watch the program continue to grow. As I enter my career in the real estate industry, I look forward to helping those younger than myself as so many have done for me.

IU Center for Real Estate Studies

Located on the beautiful Indiana University campus, the IU Center for Real Estate Studies strives to provide top-quality educational opportunities that are relevant and that integrate different functional areas. The center builds students’ knowledge and connections through conferences, luncheons, site visits, and participation in case competitions—events that are enriched through the robust participation of Indiana University’s alumni. The center posts announcements of national scholarships and assists students and companies in recruitment activities for both internships and full-time positions. The center also assists alumni in career changes.

Led by Douglas M. McCoy, Al & Shary Oak Director of Real Estate, with assistant director Ellen Stauffer and associate director Sara Coers at Kelley-Indianapolis, the center’s vision is to produce a community of outstanding commercial real estate leaders by providing excellence in an integrated educational platform that merges relationships, academics, and practice.

Indiana Real Estate Club 

Education

The Real Estate Club at Indiana University is one of the oldest and largest organizations on the Bloomington campus. Founded in 1990, the organization was created to fulfill the needs of students wanting to learn more about the real estate industry. It has championed professional development within real estate studies and helped bridge the gap between students and alumni who lead the industry.

While the club is highly affiliated with the Kelley School of Business, it welcomes students who study in any Indiana University school. Many members are part of the Luddy School of Informatics or the O’Neil School of Public Affairs. The club has chaired a theme of highly driven, unique, and diverse membership throughout its history and looks to maintain this in the future.

The goal of the Real Estate Club at Indiana University is to provide opportunities for its members to grow, develop, and evolve into strong business leaders. It looks to equip its members with the skills and opportunities to thrive in the real estate industry. The club strives to achieve this goal through a dynamic and united approach, working in tandem with the Commercial Real Estate Workshop, IU Center for Real Estate Studies, Kelley School of Business, IU Real Estate Alumni Network, and experienced professors. Utilizing these resources, the club provides its members with unique networking opportunities, elite speakers, and challenging case competitions.

IU Commercial Real Estate Workshop

The Commercial Real Estate Workshop is 3-credit hour course, 1.5 hours per semester meeting for the first 8 weeks each semester. The workshop immerses students in the industry by providing a series of outstanding guest speakers supported by a case study format emphasizing some of the more sophisticated, important, or leading areas of the industry. The workshop allows students the opportunity to interact with faculty and industry experts with more depth and flexibility than is provided in a traditional classroom setting through student-led F428 and F429 semester experiences.

Core emphases includes:

1. Real estate financial modeling including development, feasibility analysis, valuation, and asset management concepts.
2. Alternative real estate operating models including real estate investment trusts, private equity, and entrepreneurship.
3. Real estate fundamentals including important concepts involved in the areas of real estate markets, capital, site selection, law, financing, and leasing.
4. Primary product types including office, medical office, industrial, retail, hotel, and multifamily.

The Commercial Real Estate Workshop is designed to improve the students’ real estate knowledge/skills through case-based learning. Some of the objectives include applying real estate knowledge and skills to case study examples, enhancing real estate finance analytical skills, developing an in-depth and practical understanding of the commercial real estate industry, and improving interpersonal and professional communication skills.

IU Commercial Real Estate Fund

In Fall 2020, the IU Center for Real Estate Studies launched the Real Estate Private Equity Program (REPE), commencing with Sample Gates Real Estate Fund I in Fall of 2022. The Fund is an undergraduate student-run real estate private equity program that provides an incredible hands-on real estate investment opportunity for students. Students work in functional teams including Investor Relations, Accounting Finance & Legal, Marketing & Administration, Recruiting & Transition, and Research & Outreach. Faculty-selected, highly-qualified IU real estate program students who earn admission to the REPE gain valuable, real-world experience by directing and performing all aspects of a real estate private equity fund – transaction sourcing, investment underwriting and execution, investor relations, fund accounting, and asset management. The student fund managers are also responsible for fundraising and fund structuring activities. Currently, the fund has $4.2 million under management, and strives to provide exceptional returns for the investors.

University Resources

Career Services

The IU Center for Real Estate Studies and the Undergraduate Career Services are committed to providing opportunities for students to secure excellent internships and full-time role positions. Benefits include access to industry professionals, networking help, and career consultation.

Also, each semester the IU Center for Real Estate Studies hosts a career fair with top companies in the real estate industry. This event provides students direct access to network with industry leaders and opportunities for on-campus interviews.

Argus Training

Through membership in the ICSC University Partnership Program, the IU Center for Real Estate Studies offers Independent Study Argus Certification to all enrolled students at a discounted student price.

Real Estate Case Competitions

To apply skills learned in the classroom and real estate program the IU Center for Real Estate Studies encourages participation in national and international case competitions. Notable competitions include ICSC Retail Real Estate Case Competition, Eisenberg Challenge, NAIOP Challenge, and Cornell International Real Estate Development Case Competition. Just last May, four incoming seniors who have gotten deeply involved in IU’s real estate program won first place at ICSC Foundation & UNC Retail Real Estate Case Competition.

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Real Estate Course Offerings at Indiana University

BUS-R 300 Principles of Real Estate

Non-business major course for students who plan to take only one course in the area of real estate. Topics include real estate law, brokerage, property management, appraising, mortgage finance, and investment analysis.

BUS-R 305 Introduction to Real Estate Analysis

Designed for students who may intend to take additional real estate courses. Topics include real estate law, brokerage, property management, appraising, mortgage finance, and investment analysis. Emphasis is placed on the analytical techniques applicable to real estate.

BUS-R 440 Real Estate Appraisals

Offered in fall semester only. This course provides an understanding of the theory and techniques of income property valuation. It covers the material required by the Appraisal Foundation for general appraiser certification as well as material that is included in more advanced courses that prepare students for an appraisal designation.

BUS-R 443 Real Estate Finance and Investment Analysis

Offered in spring semester only. Case studies in effective techniques of real estate analysis by managers of business firms or real estate specialists. Selection, development, financing, and investment analysis of commercial, industrial, and residential real estate.

BUS-L 408 Real Estate Law

Legal problems related to ownership and transfer of real property; attention to landlord-tenant law and the tools of land-use planning (nuisance law, zoning, private restrictions, subdivision control, and eminent domain).

BUS-R 490 Independent Study in Real Estate and Land Economics

Supervised individual study and research in a student’s field of interest. The student proposes the investigation desired and, in conjunction with the instructor, develops the scope of work to be completed. Comprehensive written report required. No credit towards finance major requirements.

BUS-F 428 Commercial Real Estate Workshop I

This course provides students with intense preparation for specialized careers in finance. Each section of this course will be devoted to a specific career pathway.

BUS-F 429 Commercial Real Estate Workshop II

This course continues the intense preparation for specialized careers in finance started in Workshop I. Each section of this course will be devoted to a specific career pathway.

BUS-R510 Real Estate Investment (Graduate Level)

This module deals with the analysis of real estate from the perspective of appraisers, developers, lenders, corporate users, and equity investors. Emphasis is placed on identifying factors that affect the risk and expected rate of return for real estate, such as the structure of the leases, the type of financing, legal considerations, and characteristics of the particular property. The effect that corporate real estate decisions have on the company’s financial statements is also considered as well as the public ownership of real estate by Real Estate Investment Trusts (REITs). The course will integrate theory and practice through the use of spreadsheets and software designed for advanced income property analysis.

BUS-R590 Independent Study in Real Estate (Graduate Level)

For advanced MBA students engaged in special study projects. Independent study projects must have the approval of the faculty member who will supervise the work, the department chairperson, and the MBA Office.

Browse Other Undergraduate Real Estate Profiles

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About Alex Dilkovski: Alex Dilkovski is an incoming junior studying Finance and Real Estate within Indiana University’s Kelley School of Business. He currently serves as the Director of Communications for the Real Estate Club at IU and is an eager-to-learn member of the Commercial Real Estate Workshop.

 

 

 

2021 Author:

About Harrison Adams: Harrison Adams ’21 is studying Finance and Real Estate and is the current Co-President of the IU Real Estate Club. Upon graduation Harrison will be joining PwC in Manhattan as an Associate in their Financial Markets Real Estate group. In his free time Harrison enjoys practicing yoga, playing golf, and traveling.