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Real Estate Masters Subject Area 2

IPF Certificate, IPF Diploma & MSc Real Estate Investment and Finance (IPF Entry Route)

At a glance

  • Start the programme from either September or February
  • Stand out with an Industry-recognised programme
  • Learn from leading practitioners and academics
  • Option to progress to the IPF Diploma and then the Masters programme
  • IPF Diploma includes support from our Virtual Learning Environment
Locations
Henley Whiteknights
Subject area(s)
Real Estate & Planning
Duration
24 - 72 months depending on route taken
Attendance
Flexible
Programme Director
Image of Claire Xiaoying Deng sitting
Claire Xiaoying Deng

Overview

In partnership with the Investment Property Forum (IPF), we offer a flexible route if you are wishing to obtain the IPF Certificate, IPF Diploma or the MSc Real Estate Investment and Finance. Delivered on a part-time basis, it comprises a series of professional development courses delivered by leading names in property investment and academia.

In a fast-moving global market, the IPF's industry-recognised education programme offers you a unique advantage. You will address the key areas of investment, finance and property. The programme will equip you with the latest knowledge and skills to ensure you stay one step ahead. Join your peers at these intensive, interactive sessions and immerse yourself in a fresh, topical leading-edge learning experience.

IPF Certificate in Property Investment

The Certificate consists of an introductory online course - Introduction to Property Investment. This is followed by two 4-5-day face-to-face courses; Corporate Finance and Real Estate Portfolio Management. These are delivered at the University of Reading’s Whiteknights Campus, in the Henley Business School.

The IPF Certificate is listed by the Financial Conduct Authority (FCA) as a Key 2 Appropriate Examination under the Managing Investments activity. Holders of the IPF Certificate will need to complete a Key 3 qualification. Namely a UK regulatory examination, to meet the full examination requirements for this activity. For more information on the appropriate examinations, please see the FCA Handbook.

If you obtain the Certificate, you are eligible to undertake three additional modules (taught at Reading) to gain the IPF Diploma. The IPF Diploma can be achieved as a stand-alone qualification as outlined below.

Any of the modules can be attended on a CPD basis, subject to eligibility.

Students already holding an IPF Certificate - route to the IPF Diploma

If you hold the IPF Certificate (achieved prior to September 2016), you are eligible to continue to the IPF Diploma. You will need to attend the Real Estate Investment Appraisal, Real Estate Securities and Real Estate Funding Flexible MSc modules.

IPF Diploma in Property Investment

These specialist modules lead to an externally accredited Diploma in Property Investment from the Investment Property Forum (IPF). This is recognised as the IPF Diploma. You will need to complete the 5 modules for this qualification. This includes Real Estate Investment Appraisal, Real Estate Securities, Real Estate Portfolio Management, Corporate Finance and Real Estate Funding. Each 4-5-day, face-to-face IPF Diploma module is delivered at the University of Reading, Whiteknights campus. It is also supported by Real Estate & Planning's Virtual Learning Environment.

If you are taking the IPF Diploma, you are entitled to free student membership of the IPF. This is for the duration of the course, to a maximum of three years. If you have successfully completed the IPF Diploma, you will be fast-tracked for full IPF membership. You can then use the designation DipIPF after your name.

MSc Real Estate Investment & Finance (IPF entry route)

If you have successfully achieved the IPF Diploma, this will provide 100 credits towards the MSc degree. Therefore, you will be eligible to continue to our MSc Real Estate Investment & Finance programme(IPF entry route). In order to attain the MSc, you will need to take a further 80 credits delivered in Reading. Please see timetable above.

IPF Diploma recipient - route to the MSc Real Estate Investment & Finance Flexible

If you already hold the IPF Diploma (achieved prior to September 2016) you are eligible to continue to the Flexible Masters programme.

Please email pg-rep-admin@reading.ac.uk for further information on any of these qualifications.

Investment Education Programme Modules

Optional modules Credits

This module presents concepts of real estate finance, both theoretically and empirically. It can be seen as a course in corporate finance (funding and valuation) applied to real estate topics. It is particularly relevant for investment appraisal because it presents models to determine the discount rate in real estate investment decisions and it reconciles types of cash flows and discount rates to obtain investment values.

By the end of the module, students will demonstrate understanding of how financial issues influence decisions involving real estate within firms. They will show awareness of the problems that have to be overcome if real estate is to be treated on the same basis as other assets that are managed by companies. They will be able to extract information from company accounts and to understand the concepts of market efficiency as applied to property and the different approaches that can be taken to incorporate market perspectives into real estate management and decision making. In particular they will understand the forms of financing available to real estate companies/funds and their relative costs. Finally, students will be able to apply formal models to determine discount rates to be used in investment appraisal.

Academic authors
Gianluca Marcato004 75eh8ywhn
Gianluca Marcato
20 [10 ECTS credits]

The module reviews the main sources of debt and equity funding available in real estate investment markets, presenting the implications for ownership, cash flows and rates of return.

The module will present and analyse several sources of funding and their pricing. The process of raising equity for private real estate investment will be introduced and examined. As far as debt funding is concerned, alongside traditional methods (e.g. private lending and mortgages), the module will review structured products and hybrid forms of financing. Particular emphasis will be given to the implications of different funding structures on returns that are achieved or are achievable by equity investors.

Academic authors
Image of Yuan Zhao
Yuan Zhao
20 [10 ECTS credits]

This module develops the theory and practice of appraisal for individual property investments, mainly in the context of the commercial and industrial real estate investment markets. It will consider different bases of value, different approaches to appraisal, required returns, yields, how cash flow is generated and how property investment relates to other asset markets.

To enable students to understand the financial, technical and market context of the appraisal of real estate investments. Students will be introduced to different concepts of value and how these relate to decision making in the property investment market. They will apply basic financial and cash flow models to the appraisal of real estate investments, identifying the appropriate approaches for estimating Market Value and Investment Value as defined by International Valuation Standards. The information content of appraisals will also be considered, including inputs such as rental values, capitalisations rates, rental growth rates and exit yields.

Academic authors
Pat Mc Allister 75e5pfiod
Pat McAllister
20 [10 ECTS credits]

This module examines investment strategy, portfolio selection and performance measurement for real estate investment markets, with particular reference to private/direct real estate investment.

Academic authors
Gianluca Marcato004 75eh8ywhn
Gianluca Marcato
20 [10 ECTS credits]

Participants who successfully complete the face to face courses of the Investment Education Programme will receive the IPF Diploma from the Investment Property Forum.

This is an essential foundation property investment course for financial analysis and combines an introduction to basic property investment mathematics and statistics with applications to property valuation and portfolio management.

You will learn:

  • To understand the tools required for financial and investment analysis, including basic financial mathematics and statistics
  • To understand the principles required for constructing a portfolio and how its performance is measured
  • To introduce participants to the basic forms of modelling that can he used in practice.

The course will also cover:

  • Financial mathematics
  • Applying DCF techniques to investment projects
  • Introduction to statistics
  • Investment risk and return
  • Basic portfolio theory
  • Fixed income and equity investments

By the end of the course, you should be able to:

  • understand the use of statistics and financial mathematics in investment valuation and analysis
  • value investments in simple situations
  • appreciate the use of DCF and apply DCF techniques in investment project appraisal
  • appreciate the relevance of risk and return in a portfolio context
  • understand basic portfolio theory

Suitable for anyone wishing to improve their knowledge of financial mathematics or experience in finance and investment.

Please note that the content of this course focuses very much on mathematics, statistics and excel. You should prepare by reading the handbook at least once carefully and studying the workbook provided in advance of the course

Comments

The IPF Certificate in Property Investment requires the successful completion of Introduction to Property Investment, Real Estate Portfolio Management and Corporate Finance.

This qualification is listed by the Financial Services Skills Council (FSSC) as a Key 2 Appropriate Examination under the Managing Investments activity. Holders of the IPF Certificate will need to complete a Key 3 qualification, namely a UK regulatory examination, to meet the full examination requirements for this activity

IPF MSc Real Estate Investment Finance (IPF entry route prior to September 2016) timetable 2024-25

IPF MSc Real Estate Investment Finance (IPF entry route prior to September 2016) timetable 2024-25

*The module or course content descriptions set out on this page are correct for those being taught in the current academic year. Modules or course content marked as optional are indicative and may be subject to change. Please note, constraints in timetable scheduling may mean you are unable to take some optional modules at the same time as others.

Our Investment Property Forum Education Programme modules are delivered by leading names in property investment and academic research. This will give you access to some of the sharpest minds in the industry in an intimate and informal atmosphere. Each module comprises pre-reading, three days of face-to-face workshops and group seminars in central London. This will be followed by timed assessments and a project for completion within a specified timescale. 

Course attendance

Each classroom module is four to five days in length and is delivered in Reading at the University of Reading Whiteknights campus. These modules are taught by leading academics in the real estate field and comprise of lectures, workshops, and discussion groups. There are also opportunities to network with fellow students-usually drawn from a wide variety of backgrounds. Workshops act as an interface between theory and practice. This ensures that you can apply your new skills to your working environment.

Assessment

Each classroom module is assessed individually by means of coursework. This is completed after the module, and due for submission around 8 weeks after the module has taken place.  Assessment is optional, if you are choosing to not follow either the Certificate or the Diploma (CPD attendance). If you successfully complete the module assessments, you will be awarded the IPF Certificate.

If you successfully complete the whole programme of six modules, you will be awarded the Investment Property Forum Diploma. The Forum Diploma will give fast track membership to the Forum where appropriate.

The non-assessed route gives CPD hours for attendance. Further guidance is available from the Programme Office.

Module Fees
Online module £450
Each taught module £2,000

Current scholarships

You are normally required to have obtained the requirements below.

Entry requirements
An upper second-class honours degree from a UK university, or the equivalent from an internationally recognised university
You should normally be in relevant graduate level employment
If your first language is not English, you are required to provide evidence of proficiency. Fluency in both written and spoken English (with a minimum IELTS level of 7 or higher)

We will consider applications from those who do not entirely fit these requirements. Please note these requirements do not apply to the introductory online module, Introduction to Property Investment.

You are normally expected to join the programme in either September or February. If you're taking the IPF Diploma or MSc Real Estate Investment and Finance, you will normally take Corporate Finance or Investment Appraisal as you first module.

The IPF Certificate

The IPF Certificate is listed by the Financial Conduct Authority (FCA) as a Key 2 Appropriate Examination under the Managing Investments activity. Holders of the IPF Certificate will need to complete a Key 3 qualification, namely a UK regulatory examination, to meet the full examination requirements for this activity. For more information on the appropriate examinations, please see the FCA Handbook.

Modules that make up the Certificate
Introduction to Property Investment (eLearning)
Real Estate Portfolio Management
Corporate Finance

The IPF Diploma

The IPF Diploma is awarded upon successful completion of five classroom-based modules.

Modules that make up the Diploma
Real Estate Investment Appraisal
Real Estate Securities
Real Estate Portfolio Management
Corporate Finance
Real Estate Funding

Apply online

The quickest and easiest way to apply for Postgraduate study at Henley Business School, at the University of Reading is through the University’s online application service.

This allows you to complete your application information, attach electronic copies of your academic transcripts, certificates and other supporting information and also provides a facility for an email request to be sent to your referees enabling them to send your supporting references directly to us.

Apply online now using the University of Reading's online application system.

Apply by post

If you are unable to apply online you can request a paper application form by telephoning +44(0) 118 378 5289 or writing to the Admissions Office, University of Reading, Miller Building, Whiteknights, Reading, RG6 6AB, UK.

When to apply

Course Entry Deadline
IPF Certificate September 31st July
IPF Certificate December 31st October
IPF Diploma/ MSc September 31st July
IPF Diploma/ MSc February 31st December

NOTE: Individual modules specify closing dates for applications. Individual modules can be attended on a CPD basis, subject to eligibility, but where these are oversubscribed, priority is given to those students who have registered in advance for the IPF Certificate, IPF Diploma or MSc Real Estate Investment & Finance.

After you apply

You will receive a confirmation email when we receive your application form. Your application is then reviewed by a member of academic staff. Successful applicants will be notified by email in the first instance, and once a start date has been agreed, you will receive a formal offer letter outlining any necessary entry criteria you will need to meet, and you will be asked to confirm your acceptance of this offer.

Throughout the admissions process we will keep you updated with key information via email.

Our students and alumni are always keen to share their Henley experience. Whether you are a prospective applicant or already applied to a Masters programme at Henley Business School. You can ask questions to a current student by clicking the “Chat to our students” button below.

When contacting one of our students, please introduce yourself and the Masters programme you have applied for.

Speak to a current student

Contact us

If you have any questions, please contact us by email at postgraduate@henley.ac.uk or by phone on +44 (0)118 378 7593.

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