ULI/REAP Online Academy – Spring 2021

Project REAP (The Real Estate Associate Program), the industry’s most successful diversity initiative in the commercial real estate industry, presents the ULI/REAP Spring Academy 2021. Live & On-Demand. 100% Online.

REAP is an industry-backed, market-driven program serving to advance diversity, equity, and inclusion in the commercial real estate industry through education, mentorship, and partnerships.

REAP exists to address the stark underrepresentation of multicultural professionals in the commercial real estate industry's professional ranks by spotlighting a talent pool that is present, but often unacknowledged.

ULI and REAP are pleased to form a strategic partnership to build on a long-standing relationship and commitment to bridging the gap between talented diverse professionals and the world of commercial real estate. The 8-week Spring Academy will provide a suite of on-demand courses, live webinars and industry panel discussions weekly, taught by senior level experts in the commercial real estate industry.

This course contains much of the same material as ULI's FoRE Certificate, modified for REAP.


The purpose of this course is to introduce commercial real estate terms, concepts, and processes, that will lay the foundation for a career in commercial real estate. Taught by esteemed faculty and industry leaders, this course is divided into eight sections,  running across 8 weeks with three to six hours of content each week.  

  1. Introduction to Real Estate Development and Commercial Real Estate
  2. Intro to Real Estate Finance: Obtaining Funding & Entitlements
  3. Intro to Real Estate Finance: Financial Concepts, Tools and Time Value of Money
  4. Underwriting, Risk and Return, and Capital Sources 
  5. Retail and Mixed Use Development 
  6. Pro Forma Excel Modeling 
  7. Pro Forma and Commercial RE Case Studies
  8. REAP Study Week

Experience Level

Commercial Real estate experience is not necessary for selection as REAP seeks to identify minority individuals from across a wide spectrum of disciplines interested in a career in commercial real estate. Applicants must have a 4-year degree (or current graduating senior) from an accredited institution.

Course Objectives

  • Demonstrate an understanding of the real estate ecosystem, including the roles and responsibilities of the primary players in this landscape.
  • Identify the critical phases of the real estate development process, as well as the major tasks and processes undertaken to make well-informed and responsible decisions.
  • Identify and use the fundamental financial concepts employed by professionals.
  • Recognize, understand, and use the elements of the primary financial instrument employed by professionals to describe the elements of a real estate development transaction: the pro forma.
  • Describe the risk/reward landscape of common real estate transactions such as purchases and leases. Understand the ethical dimension of development by being able to describe the impact to the world and future generations of well-planned projects versus poorly planned projects.

Course Format

This course is conducted entirely online over the course of eight weeks. Each week, participants should expect to spend approximately 4-6 hours completing the weekly courses, which will include access to the on-demand weekly module, videos, downloadable resources, and live webinars. A quiz will be provided at the end of each module.

Components visible upon registration.