MBA Real Estate Specialty rises in national rankings

Florida State University’s MBA specialty in real estate secured the No. 1 spot in Florida and the No. 6 rank nationally, according to public schools listed on U.S. News & World Report’s “2025 Best Graduate Schools” released today.

“This significant achievement can be traced to many factors, including our stellar MBA students and world-renowned faculty members,” said Michael Hartline, dean of the FSU College of Business. “We are infusing every facet of the learning process with real-world experiences, from internships to corporate immersion experiences.”

It’s a new high mark for FSU’s MBA specialty, which last ranked as high as No. 8 among public schools, No. 16 overall, in spring 2023. Along with its No. 6 placement among public schools, FSU ranks No. 13 among all public and private MBA programs nationwide.

Today’s new rankings also show improvements for FSU among the vast number of MBA programs nationwide. Despite the competitive field, FSU’s part-time MBA format offered on campus in the evenings leapt 16 spots to No. 43 among public schools, No. 68 overall. FSU business students enrolled in any MBA format or the Master of Science in Finance (MSF) can pursue a specialization in real estate.

“We have seen the MBA specialty area grow from infancy to one of the most respected programs in the country,” said G. Stacy Sirmans, the J. Harold and Barbara M. Chastain Eminent Scholar of Real Estate and academic director of the FSU Real Estate Center, who has taught at FSU since 1988. He credits that rise in standing to engaged faculty members with strong expertise who present course material using current business events and situations to illustrate lessons.

Focusing on real estate finance, valuation and investment, the specialization provides students with an invaluable skill set that continues to rise in demand thanks to a global economy that increasingly relies on the real estate market for investment wealth, Sirmans said.

The latest figures available from tax and technology consulting firm EY estimate that the work of real estate investment trusts (REITs) that buy and develop properties as part of an investment portfolio, resulted in 3.5 million full-time jobs and $277.8 billion in labor income in the United States in 2023. And investor reliance on publicly listed REITs has grown exponentially to $1.37 trillion in 2023, up from $9 billion in 1990.

“Our students learn to make these real estate investment decisions by applying correct valuation principles, which includes balancing financing across the mortgage and equity markets,” Sirmans said. “They graduate with a broad set of knowledge that allows them to enter the job market at their preferred point of entry and to have successful careers.”

The learning does not stop when students leave class. FSU real estate students also may choose to apply newly acquired knowledge and skills in case competitions against other highly ranked real estate programs and network with industry leaders through corporate tours and events such as the often-sold-out Real Estate TRENDS Conference hosted annually by the FSU Real Estate Center. The popular forum brings together experts to discuss conditions affecting national, regional and local markets. The center gives students ongoing support, including access to scholarship assistance and travel funds.

A significant real-world lab FSU provides is the FSU Real Estate Investment Fund (REIF), managed by students enrolled in a graduate-level real estate finance and investment course and a team of student portfolio managers. Advised by Mariya Letdin, course instructor and the Kyle Riva Associate Professor of Real Estate, FSU’s REIF reported a fund balance of $2.6 million as of November 2024. Students participate in underwriting, making recommendations to an external investment committee, producing quarterly reports and providing information on fund performance, dividends earned and sector allocations, Letdin said.

“This gives students valuable ‘hands-on’ experience in the investment arena,” Sirmans said. Those master’s students earning the college’s real estate specialization go on to work with institutional investors, investment banks, private equity firms, portfolio lenders and other service providers. Recent graduates have accepted positions at companies such as CBRE, Cushman & Wakefield, JLL, JPMorgan Chase & Co., MetLife Investment Management, Prudential Real Estate Investment, Starwood Capital, USAA Real Estate, Voya Investment Management and Wells Fargo.

Graduate applicants interested in pursuing the college’s real estate specialization can apply for one of the following programs. All master’s degree programs at the FSU College of Business are GMAT optional.

Master of Business Administration (MBA)

• Accelerated, Full-Time or Accelerated, Evening formats on campus – Apply by January 15 priority deadline to be considered for fall entry. U.S. applications after January 15 will be considered on a space-available basis until June 1 final deadline. These formats admit new students only once a year.
• Online, Part-Time format or Part-Time, Evening format on campus – Apply by June 1 for fall entry, October 1 for spring entry or March 1 for summer entry.
• Request more information and apply at mba.fsu.edu.

Master of Science in Finance (MSF)

• Apply by January 15 priority deadline to be considered for summer entry. U.S. applications after January 15 will be considered on a space-available basis until March 1 final deadline. This program admits new students only once a year, starting in late June (summer session B) and ending in early May.
• Request more information and apply at business.fsu.edu/MSF.

– Melanie Yeager