Fiu To Add Masters Program In International Real Estate

By Vanessa Krause
As sales of South Florida realty abroad soar, Florida International University is pioneering a master of science in international real estate.

"It is unique to South Florida and to the US," said John Zdanowicz, director of the Jerome Bain Real Estate Institute at FIU. "Other universities offer some courses in international real estate, but our focus is international real estate."

Last year, $1.5 billion in South Florida commercial real estate and land – 15% to 20% of all sales – went to foreign buyers, said David Dabby, a consultant who serves on the Bain Institute board and hails the program. He estimates $3 billion in South Florida residential real estate was sold abroad in 2004.

FIU trustees in July approved the 12-month, $20,000 evening curriculum. Classes will be at FIU’s new Downtown Center, on the sixth floor of Macy’s, 22 E Flagler St.

Dr. Zdanowicz projects opening with 45 students. "The group of students will start in January and go together for one year."

"Our university’s middle name is international," he said, "and we hope to draw students from all over the world to come to take our program."

The program "keeps on helping us in really positioning FIU as a leader in programs that are on the edge of what Miami is about in business," said Tomislav Mandakovic, associate dean of FIU’s Chapman Graduate School of Business. "And there was not a program dedicated to this. This is not just an adventure – it’s a complement to a need."

"We’ve just begun receiving applications. We’ve received about 20," said Lourdes Herrero-Matus, program manager. "The application has been online for two weeks, and we are just now getting the word out."Applications are accepted online at www.gradschool.fiu.edu. Details: (305) 348-7398.