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Kellogg's real estate curriculum is designed to capture the importance and impact of real estate as an asset class in the global economy.

The recent financial crisis had its roots in the real estate market, and the tremendous change in the market has highlighted the need for tomorrow's real estate professionals to have a thorough understanding of the theory and practice of the real estate industry.

Our curriculum is structured in two stages. In the first foundational stage, we develop tools that are critical to the analysis of real estate transactions. In the second stage, which provides a depth of coverage for those wanting to specialize in real estate, we create a body of knowledge on the specific institutions of the market and the interaction of real estate markets with urban planning, development, entrepreneurship, public policy, and law.

Faculty sponsors: Effi Benmelech (Finance), David Matsa (Finance).

Important note
Evening & Weekend students interested in the Real Estate Pathway should take Finance 1 or its prerequisite, if necessary, during your first quarter at Kellogg, rather than taking Accounting. This will allow you to most quickly have the prerequisite required to enroll in Real Estate Finance and Investments.


These courses provide the financial and methodological foundations for real estate analysis.


Many of these courses teach students how to apply financial and valuation models in the context of real estate development and entrepreneurship. Other courses create the body of knowledge and expertise required from those who specialize in real estate.

  • Urban Economic Development and Real Estate Market Analysis: REAL 443-5
  • Real Estate Development: REAL 444
  • Legal Issues in Real Estate: REAL 447
  • Real Estate Entrepreneurship: REAL 465
  • International Real Estate: REAL 455-5
  • Real Estate Lab: REAL 616
  • Applied Real Estate Finance and Investments: FINC 455
  • Public Economics for Business Leaders: State and Local Policy: PACT 480
  • Real Estate Technology: REAL 930-5

Last edited July 21, 2023. For any questions regarding this page, please email

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Full-Time MBA Application Deadlines

Round 1: Sept. 11, 2024
Round 2: Jan. 8, 2025
Round 3: April 2, 2025