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

Master in Real Estate and Finance

Online & Campus

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 and Finance (Online & Campus Study)This program enables students to study for the Master in Real Estate online, and to gain a concentration

by following specialist courses in Finance which are part of the MBA program at the Sobey School of

Business at Saint Mary’s University in Halifax, Canada.

Alternatively, students may opt to follow the Master in Real Estate and Finance entirely online, without

spending a semester on campus in Halifax.

Program Structure

The Master in Real Estate and Finance with a Semester at Saint Mary’s University, Halifax, Canada 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.

This program is made up of two stages. Students complete coursework in Stage 1, and on satisfactory

completion of this, students progress to the final research component, the Dissertation, in Stage 2.

Part 1 courses include the Core Courses from the Master in Real Estate, Specialist Courses in Finance at

Saint Mary’s, and a choice of Elective Courses from among a number of alternatives. 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

courses in Research in Real Estate Business and Data Analysis and Critical Thinking are 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.

In sum, the Master in Real Estate and Finance 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.

MRE AND FINANCE

Core Courses(compulsory)

The Development ProcessUrban 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

Specialist Courses Online or On Campus

(compulsory)

Online from Homburg Academy:

Corporate FinanceReal Estate Finance

Real Estate AccountingRisk and Portfolio

ManagementCapital Markets

Appraisal of Real Estate

Or from Saint Mary’s University Halifax:

Financial ManagementCorporate Finance

Fixed Income SecuritiesFinancial Institutions

International Business Finance and Banking

Mergers and RestructuringCapital Markets

Investments and Portfolio Management

Elective Courses(students choose 1)

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. Understand the importance, role, and impact of property and the built environment in a wide range of

facets of modern society;

2. Understand the development process as one that is inherently interdisciplinary, and draws, in different

stages of the development process, or cycle in the business strategy, on different kinds of knowledge

and understanding and different forms of subject specific skills;

3. Be able to discriminate between forms of knowledge and be able to draw selectively and appropriately

on them;

4. Develop good understanding of the ethical issues in the Real Estate industry, including issues of

sustainability, and environmental responsibility;

MRE AND FINANCE

The following provides an overview of the courses required for the Master in Real Estate and Finance:

University PartnerSaint Mary’s University, established in 1802, is a respected Canadian public university located in the South

end of Halifax. The University is well known for its programs in Commerce, and the programs of the

Sobey School of Business are accredited by the AACSB (Association to Advance Collegiate Schools of

Business).

Is this program for you?This program is for you if you have a passion for finance, especially Real Estate finance. If you are willing

to think creatively, and are brave enough to imagine creative solutions in turbulent financial times, you

are for us. This program enables students to combine a background in Real Estate with specialisation in

finance with the flexibility online with peers around the world. This program is for you if you would like

to understand Real Estate finance, to be able to finance development projects, or be able to use financial

information in business decisions.

MRE AND FINANCE

5. Understand the financing aspects of Real Estate, including the role of capital markets, different forms of

finance; how these relate to intended outcomes and be able to use this understanding in selecting

financing options in specific situations;

6. Understand and appreciate the interaction between the property market and the investment market;

7. Understand key concepts in the appraisal and valuation of Real Estate, including the impact on land and

property prices of such things as regulation, transport, public policy, and socio-economic change;

8. Understand managerial and financial accounting as these relate specifically to real estate and how to use

this knowledge in business decisions.

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 Master in Real Estate and Finance program is as follows:

Travel Bursary / Fee Credit

In accordance with the Academy’s fee policy, students may be eligible for a Travel Bursary from the

Homburg Academy for this program. Where the fee status of a student at our partner university makes

students eligible for a lower fee level, the Academy will reimburse students with the differential in the

form of a grant to help with travel and accommodation expenses. The individual student’s fee status

will determine the applicable fee, so interested applicants are requested to contact us about individual

circumstances.

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

Program

MRE and

Marketing

(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

Home

Country

$14,448

Int’l

Students

$10,998

Travel Bursary/

Fee credit

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.

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/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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