Homburg Academy
• Master Degrees
• Executive Master Degrees
• Postgraduate Diploma
• Postgraduate Certificate
International University-Level Real Estate Education
W W W . H O M B U R G A C A D E M Y . O R G
OnlineMaster of
Real Estate
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
WELCOME
Our Mission StatementHomburg Academy’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 GovernanceThe 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: Dr Jarrod Wiener, PhD
Learning Manager: Mr Brenton Ives
Recruitment Officer: Ms Jillian Bellamy
Communications & Marketing Ms Amanda Morrison
OUR MISSION STATEMENT
Meet, debate, consult. Online
The Homburg Master in Real Estate (Online)Success in the fast-paced world of Real Estate requires the knowledge to conceptualize a winning
project, the ability to strategize business and finance options, and the capacity to translate technical
advice from architects, builders, designers, engineers, lawyers, planners, and a host of others into
action. Leading such a diverse group of technical experts to achieve your vision of the future means
you need to be more than just a business school graduate. You need to be a Master of Real Estate.
Mastering Real Estate requires a well-rounded education, and that means inter-disciplinary study
is not just desirable, it is unavoidable. The challenge is harnessing the subjects as diverse as Urban
Economics, Business Negotiation, and Corporate Finance and directing those insights into usable
knowledge.
While each of our programs follows our core philosophy, we also recognize that the educational
needs of the recent graduate are different than the needs of the experienced professional. The
Master of Real Estate is intended for the recent graduate who has little to no professional Real Estate
experience.
Program Structure
The Master in Real Estate (MRE) is made up of 15 courses (20 credits each) for a total of 300 credits
consisting of 3,000 notional hours of study (See the Academic Regulations for complete degree
requirements). Students are able to complete this program in 2 years by studying full- time. There is
also considerable flexibility in the part-time program to accommodate working schedules, enabling
students to accumulate credits over a period of up to six years.
The Master in Real Estate program is made up of two stages. Core and Elective Courses are available
in Stage 1, on satisfactory completion of which students progress to the final research component, the
Dissertation, in Stage 2.
In Part 1, Core Courses are compulsory and Elective Courses are available among a number of
alternatives which enables students to choose courses in their area of interest, to tailor the program
to their career objectives. Part 1 is capped by a “Capstone Course” in which students work in groups
to complete a project, usually the critical analysis of a case study. This is intended to enable students
to bring together the skills learned in the courses.
As an academically rigorous program that also prepares students for independent academic study,
the course in Data Analysis and Critical Thinking is included to ensure students are trained in the
quantitative and qualitative methodologies of social science, as they are required to undertake an
academic-oriented Dissertation in Stage 2 of their program.
MASTER OF REAL ESTATE
Core Courses(compulsory)
The Development Process
Urban Economics
Ethics and Responsibility for the Real Estate Firm
Introduction to Urban Development and Planning Capstone Case Study
Research in Real Estate Business
Data Analysis and Critical Thinking
Elective Courses(students choose 3)
Corporate Finance
Real Estate Finance
Real Estate Accounting
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
Stage I must be completed satisfactorily in order to progress to Stage II the independent project.
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;
MASTER OF REAL ESTATE
In sum, the MRE program provides an advanced training, by way of coursework, in the general methods,
scope, theories, and findings in the disciplines relevant to Real Estate. It also includes integrative capstone
courses, case studies, group work, and an independent research component - the Dissertation. This
enables students to utilize the knowledge and skills they have acquired when dealing with specific issues
and problems.
Courses
The following provides an overview of the courses required for the Master in Real Estate program:
MASTER OF REAL ESTATE
5. Ensure that students acquire the necessary skills for advanced project assessment, execution, and
management, including well-developed strategic planning and exit strategies;
6. Develop good understanding of the ethical issues in the Real Estate industry, including issues of
sustainability, and environmental responsibility;
7. Develop students’ general research skills and personal skills (transferable skills).
Is this program for you?This program is for you if you want a
career in Real Estate Development,
Real Estate Finance, Real Estate
Management, and you would like
the convenience and flexibility of
studying online. You are for us if
you can imagine a better way of
doing things, and want to explore
the way Real Estate can be, rather
than the focusing on the way Real
Estate is done today. Students
with imagination and the passion
to realize their aspirations for the
future are particularly welcome in
this program. Students who are able
to work independently and in groups
to complete the capstone case-study
and to complete the final dissertation
will find a rewarding program that
brings them in contact with peers all
around the world.
AdmissionsApplicants 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 FinanceCourse 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 pre-
payment or payment for the whole program at once entitles students to a discount.
The cost to complete the Executive Master in Real Estate and Finance program is as follows:
Program
MRE (online)
Minimum number
of courses
15
Total fee
($3000/Course)
$45,000
Less 2% for paying
annually in advance
$44,100
Less 5% for paying
for the whole
program in advance
$42,750
These fees are correct for 2011-12. Fees are reviewed each year, and are subject to change.
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.
FEES AND FINANCE
Additional costsThe 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 subsis-
tence are the student’s responsibility.
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/scholar-
ships-and-bursaries for further information.
FEES AND FINANCE
Homburg Academy FacultyOur 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
HOMBURG ACADEMY FACULTY
H O M B U R G A C A D E M Y - B U I L D I N G F U T U R E S
Homburg Academy Switzerland AG
c/o Homburg Swiss AG
Zürichstrasse 147
8700 Küsnacht ZH
© 2011 Homburg, Inc. All rights reserved
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