The REIT Portfolio Practicum class is a two –semester (3 credit hour) course which allows students to act as manager and analyst for an investment portfolio of Real Estate Investment Trust (“REIT”) stocks.  Students will analyze, research, underwrite, and invest up to five hundred thousand dollars ($500,000), of money gifted to W. P. Carey School of Business by a local REIT, specifically for investment into publicly traded REIT stocks.

What is a REIT? (Pronounced “REET”) It is a public or private corporation with special tax treatment that combines investment capital of potentially thousands of individual investors to acquire or finance real estate assets. Similar to a mutual fund comprised of real estate assets, REITs provide investors the advantages of a diversified portfolio coupled with highly skilled management teams at the helm.

The class is a combination of two sections, graduate students and undergraduate working on interdependent investment teams.  Class size is limited to maintain opportunities for peer interaction and access to industry executives. There are numerous team assignments and projects. The course covers a wide array of financial statement analysis, fundamental real estate analysis, macro-economic effects on value, and REIT-specific underwriting and valuation metrics. The course will focus on both qualitative and quantitative analysis to enable students to make carefully crafted investment decisions. 

The REIT Portfolio Practicum, launched Fall of 2018 and is limited to 24 students – twelve (12) undergrad and twelve (12) graduate students. Students interested in this course must submit an application for enrollment. Applications for the Fall 2019 will be open February 21, 2019.

Apply to the program:

Enrollment in the course requires:

  1. Meet academic pre-requisites:
  2. REA 494 – W.P. Carey BS or BA student, OR Non-business students with minimum 56 earned hours and 3.0 ASU GPA. Must have completed: FIN 302 or FIN 303 or REA 456
  3. REA 594 –  MRED Student or 2nd year MBA student
  4. Make application no later than March 22, 2019. No late applications will be accepted.
  5. Application should consist of the following:
    1. Resume
    1. Unofficial transcript
    1. 1-2 page statement to include the following:
      1. Candidate’s career goals and interest in fund management.
      1. Candidate’s exposure to real estate and financial statement analysis.
      1. Candidate’s academic and professional background that indicates what you would contribute to the fund (including quantitative skills).

Email complete application materials to wpcareyre@asu.edu with the subject line: REIT Portfolio Practicum Application

Applications will be reviewed by the fund director and other advisors. Selection will be announced in late April.