RE3FINP: Project in Real Estate Finance

Module code: RE3FINP

Module provider: Real Estate and Planning; Henley Business School

Credits: 20

Level: Level 3 (Honours)

When you'll be taught: Semester 2

Module convenor: Dr Jiarong Li, email: jiarong.li@henley.reading.ac.uk

Pre-requisite module(s):

Co-requisite module(s): IN THE SAME YEAR AS TAKING THIS MODULE YOU MUST TAKE RE3RES AND TAKE RE3PM AND ( TAKE RE3QTS (Compulsory)

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: Yes

Last updated: 27 June 2024

Overview

Module aims and purpose

This module aims to provide an application of the various concepts learned in RE3PM and RE3RES to real-world investment decisions. Since the nature of the topic will vary with changing market conditions and the importance of various topics, it is not possible to specify in advance the subject of the project. In broad terms, the project will blend practical and theoretical perspectives involving close-to-market materials and will enhance students' digital capability, skills and knowledge of asset allocation, portfolio management, asset pricing and real estate investment vehicles. 

Module learning outcomes

By the end of the module, it is expected that students will be able to: 

1. Identify theoretical concepts in the fields of investment and finance and apply those concepts to practical real estate problems;  
2. Critically assess the viability of those concepts;  
3. Apply analytical techniques (both qualitative and quantitative) to data, interpret the results and integrate the findings with theoretical concepts;  
4. Produce concise, analytical, well-argued, and well-presented research reports.  

Module content

Students will undertake a project selected to reflect current real estate investment and capital market issues and to integrate themes developed in the specialist modules. The project includes data analysis and formal, written reporting. As examples, the project topic might include:  

• Discussions of the optimal way to structure a mixed asset portfolio containing commercial property;  
• A critical analysis of investment styles and strategies;  
• An exploration of the investment characteristics and performance of property as an asset class;  
• An evaluation of the pricing of listed real estate companies.  
• An investigation of the relationship between indirect property investments and directly-owned real estate.  

Structure

Teaching and learning methods

The bulk of student effort comes through private, independent study. There will be a project briefing, lectures and workshops throughout the term where students may undertake exercises or bring questions and problems for discussion. The emphasis is very much on individual learning and independent work. 

Study hours

At least 10 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Practical classes/workshops provide extensive feedback to students who want to improve their knowledge and they should be regarded as an effective feedback system to test abilities and ask for clarifications. 

Reassessment

Additional costs