Homburg Academy W W W. H O M B U R G A C A D E M Y. O R G
Master in Real Estate
Online & Campus Study
International University-Level Real Estate Education • Master Degrees • Executive Master Degrees • Postgraduate Diploma • Postgraduate Certificate
WELCOME Welcome Welcome to Homburg Academy, a new approach to real estate education, with a long history of real estate experience. The Homburg Group is a multi-billion dollar real estate conglomerate operating in the Baltic States, Canada, Germany, the Netherlands, Switzerland, and the USA. Founded more than 40 years ago, the Group is involved in a wide range of real estate activities, including asset management, new construction and development, real estate investment, property management, real estate finance, and insurance. We also have a passionate interest in building intellectual capital. Since 2008, the Homburg Global Education Project has been researching and developing cutting-edge university-level programs, and building two new academic institutions to deliver specialized real estate education around the world. Our two institutions are the Homburg Academy Switzerland, which grants degrees and other qualifications, and the Homburg Institute Canada, which concentrates on professional development and research. The goal of Homburg Academy is to combine our experience and knowledge with that of the top academics and industry experts from around the world. And instead of a bricks and mortar university, our structured programs reach students in innovative ways by means of a cutting-edge online learning environment, summer schools, and study semesters at partner university campuses. Our world-class real estate programs, which lead to Masters degrees and Diploma and Certificate qualifications, combine academic excellence, immediate professional application and an unparalleled student experience. Read on and discover the many advantages of joining the Homburg Academy. We welcome diversity in student backgrounds and experience, and we encourage applicants from across the globe to join our programs. Dr Richard Homburg Founder and Executive Chairman, Homburg Group Chair of Council, Homburg Academy
OUR MISSION STATEMENT Our Mission Statement Homburg Academyâ€™s mission is to advance the science and knowledge of real estate by fostering innovation, original discovery, and new insights into all aspects of the built environment and to promote the dissemination of knowledge through professional development training and education courses. Statement of Corporate Governance The Homburg Group adheres to the highest standards of corporate governance. Its companies are subject to the oversight of eight different regulatory bodies. The CANMARK Real Estate Investment Trust (formerly the Homburg Real Estate Investment Trust) is listed on the TSX Toronto Stock Exchange. Members of the Homburg Academy Council Chancellor: Mr Michael H. Arnold, CA Chair of Council: Dr Richard Homburg, Dr.hon.causa President and Vice-Chancellor: Dr Jarrod Wiener, PhD Chair of Academic Advisory Board: Dr Tom Geurts, PhD Faculty Representative, Chair of Student Committee: Dr Georgia Warren-Myers, PhD External Members: Dr Jamie Shea, PhD. Deputy Assistant Secretary-General, North Atlantic Treaty Organization (NATO) Mr Philip Homburg, PhD Candidate, Philosophy, University of Sussex, UK Drs J.R. Stolle Academic Advisory Board Dr Tom G. Geurts, Georg Washington University, USA Dr Mihnea Constantinescu, Swiss Finance Institute, University of Zurich, Switzerland Dr Franz Fuerst, Henley Business School, University of Reading, England Dr Ingo H. Holz, Berlin Institute of Technology, Germany Dr Piotr Lorens, Gdansk University of Technology, Poland Dr Leo Uittenbogaard, Amsterdam School of Real Estate, Amsterdam, the Netherlands University Administration President, Vice Chancellor: Learning Manager: Recruitment Officer: Communications & Marketing
Dr Jarrod Wiener, PhD Mr Brenton Ives Ms Jillian Bellamy Ms Amanda Morrison
Meet, debate, consult.
MRE ONLINE AND CAMPUS
The Homburg Master in Real Estate (Online and campus study) As a part of the Homburg Academy Switzerland’s Mission, “fostering global awareness and international perspectives,” Homburg students are given the opportunity of international mobility to attend other academic institutions. Such mobility enables students to gain a more robust international experience by spending a semester in a foreign country, gaining valuable experience in international real estate practices and inter-cultural communication.
Program Structure Semesters abroad are carefully crafted to ensure that Homburg students take a set of courses at the partner institution that leads to a specialization. For instance, Saint Mary’s University (SMU) in Nova Scotia, Canada, is well known as a centre of excellence in the teaching and researching of Accounting. By taking a semester at SMU, students not only gain the experience of study in the historic city of Halifax, they also gain a specialization in Accounting, in addition to their Homburg Academy Degree. Similarly, the Gdanks Institute of Technology is renowned for its expertise in Planning. Homburg students may study for a semester in Gdansk, Poland, and gain a specialization in Planning, in addition to their degree. Hence, this opportunity allows students to gain an international experience and be exposed to different cultural perspectives while attending the host institution as a visiting student to gain a degree specialization.
MRE ONLINE AND CAMPUS Courses Students following the Master in Real Estate must take the Core courses for their program of study as follows: Core Courses (compulsory)
Specialist Courses (compulsory)
The Development Process
Real Estate Finance
Courses taken on campus substitute for the online Elective courses.
Ethics and Responsibility for the Real Estate Firm
Real Estate Accounting
Introduction to Urban Development and Planning Capstone Case Study Research in Real Estate Business Data Analysis and Critical Thinking
Risk and Portfolio Management Capital Markets Appraisal of Real Estate Project Management International Real Estate Challenges and Strategy in Real Estate Strategic Negotiation The Financial Crisis and International Financial Regulation Intercultural Management Strategic Management
Learning Objectives The program aims to: 1. Provide students with both a research-active and professionally-oriented teaching environment; 2. Examine how a Real Estate project/development emerges, how it is conceived, financed, managed, and used, in the context of prevailing business/economic, and social/demographic structures; 3. Ensure that students acquire a solid understanding of academic research methods as well as qualitative and quantitative methodologies in general in the social sciences; 4. Ensure that students acquire a solid, interdisciplinary knowledge of theories and methods relevant to sound decision-making in the planning and execution of Real Estate project, encompassing, inter alia, economic, management, sociological, and cultural approaches;
MRE ONLINE AND CAMPUS 5. 6. 7.
Ensure that students acquire the necessary skills for advanced project assessment, execution, and management, including well-developed strategic planning and exit strategies; Develop good understanding of the ethical issues in the Real Estate industry, including issues of sustainability, and environmental responsibility; Develop students’ general research skills and personal skills (transferable skills).
University Partners To promote and enhance the international mobility of students through study abroad, Homburg is establishing a range of international opportunities through such collaborative arrangements. Partnering institutions identify with Homburg’s international mission and values for inter-disciplinary real estate education, and teach in English. Partnerships are sought with institutions that teach in the subject of Real Estate, broadly conceived, which enhance the range of subject-specific offerings in the degree programs. It is therefore a core principle of Homburg’s strategy for student mobility that study at another institution should complement the student’s range of choice in Elective courses. This is to provide a specialization in an area of Real Estate not otherwise available to the student within the stable of course offerings at the Homburg Academy.
Is this program for you? This program is for you if you want to combine the flexibility of online study in your real estate program with a semester abroad in Halifax, Gdansk, Brussels, Dubai, or New Delhi. This unique combination enables you to follow courses online, as well as at partner universities to make a program that is completely customized for you, and enables the flexibility to create an elective specialization that is truly unique. If you want to create a unique program, gain an international experience, and have an inter-cultural exchange, this program is for you.
FEES AND FINANCE
Admissions Applicants should possess a good class of degree (equivalent to a 3.0 GPA from a North American university) from a recognized university, in any academic discipline. Applicants must also provide evidence of competence in English. Candidates must also supply two letters of reference, ideally one of which should be from a former professor. There are no application fees. Please visit homburgacademy.org/applications to find out more about applying to Homburg Academy.
Fees and Finance Course fees The fee structure is simple. Each course costs $3000 CDN and there are no additional fees for registration or examinations. Fees are payable when a student registers for each course. Annual prepayment or payment for the whole program at once entitles students to a discount. The cost to complete the Master in Real Estate program is as follows: Program
MRE (semester abroad)
Minimum number of courses
Total fee ($3000/Course)
Less 5% for Less 2% for paying for the paying annually in whole program advance in advance $44,100
Travel Bursary/Fee credit Fee Reductions Vary. Please contact the Academy.
These fees are correct for 2011-12. Fees are reviewed each year, and are subject to change. Travel Bursary / Fee Credit Some fees are reduced to encourage students to spend a semester abroad, either to gain an international experience, or to take one of the degree programs that require a campus stay. These reduced fees are meant to compensate for travel and living expenses. This fee reduction is provided in the form of a credit on the studentâ€™s account, which is applied at the end of the program (to encourage students to complete the program).
FEES AND FINANCE
Deposit There are no application fees, but once a student is accepted onto a program at Homburg Academy, a deposit of $1,500 is requested to hold a student’s place. This deposit should be paid within 30 days. This amount is then credited to the student’s account and is applied to the payment of the first course. Additional costs The cost of any recommended textbooks and personal electronic equipment are not included in the course fees and are the students’ responsibility. If a student is required to attend a summer school, all costs for travel, accommodation and subsistence are the student’s responsibility. If a student elects to spend a semester abroad at one of our partner universities, or the program requires it, students will pay Homburg Academy as usual and the Academy will arrange the payment of fees at the partner institution. Other costs, including travel, accommodation and subsistence, are your responsibility. However, the Academy’s reduced fees are meant to compensate for travel and living expenses (see above). Scholarships and Bursaries The Homburg Academy Council has created six Homburg Bursaries in the amount of $6,000 each for 2012. If you are interested in applying for one of these, please visit homburgacademy.org/scholarships-and-bursaries for further information.
HOMBURG ACADEMY FACULTY
Homburg Academy Faculty Our interdisciplinary programs are taught by a multinational faculty of renowned professors and lecturers, supervised by an international Academic Advisory Board comprising leading academics from six countries. The Academy’s governing Council, comprising international industry leaders, academics, and senior figures oversee the educational institution’s decision-making processes. Our Faculty Members Dr Alex Anas, MCP, BS, BA, MA, PhD Professor of Economics, State University of New York at Buffalo Teaches Urban Economics Mr Christopher Caltabiano, BS, MS Manager at AIG Asset Management Group, New York Teaches Real Estate Accounting Dr Ron Collins, BSc., MBA, PhD University of Prince Edward Island, Canada (retired). Now lectures internationally. Teaches Inter-Cultural Management and Strategic Management Dr Mihnea Constantinescu, BA, MA, PhD Scientific Director, Centre for Urban and Real Estate Management Swiss Finance Institute, University of Zürich Teaches Capital Markets Dr Juan Armando Diaz, BA, MA, PhD Director, CSS Project for Integrative Mediation Berlin, Germany Teaches Strategic Negotiation Louise Gardiner, BA, MA Cape Town, South Africa, and Washington D.C, USA Teaches Ethics and Responsibility for the Real Estate Firm Dr Tom Geurts, FRICS, BSc, MS, MS, PhD George Washington University, USA Chair of Homburg University International Academic Advisory Committee Teaches Corporate Finance and Risk and Portfolio Management
HOMBURG ACADEMY FACULTY John Hughes, FRICS, BA, MA Chairman, Royal Institution of Chartered Surveyors, Canada Toronto, Canada Teaches Challenges and Strategy in Real Estate Dr Charles O. Lerche III, BA, MA, PhD Guadeloupe, French West Indies Associate Program Director, School of Graduate Studies, Norwich University, Vermont, USA Teaches Data Analysis and Critical Thinking and Research in Real Estate Business Dr Piotr Lorens, PhD, DSc. Professor and Head of the Department of Urban Design and Regional Planning, Faculty of Architecture, Gdansk University of Technology, Poland Member of the Homburg Academic Advisory Board Teaches Introduction to Urban Development and Planning A (Tony) Sevelka FRICS, AACI, CRE, MAI President of International Forensic & Litigation Appraisal Services Inc Toronto, Canada Teaches Appraisal of Real Estate Dr Michael Taylor, BA, LLM, DPhil Advisor to the Governor of the Central Bank of Bahrain Teaches The Financial Crisis and International Financial Regulation Dr Georgia Warren-Myers Lecturer in Property and Real Estate Deakin University, Australia Teaches The Development Process Dr Jarrod Wiener, BA, MA, LLM, PhD Vice-Chancellor, Homburg Academy Switzerland Teaches International Real Estate
Think Global. Study Local.
Homburg Academy Switzerland AG c/o Homburg Swiss AG Zürichstrasse 147 8700 Küsnacht ZH © 2011 Homburg, Inc. All rights reserved HOMBURG ACADEMY - BUILDING FUTURES
Brochure for MRE Online & Campus