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Why Pursue Real Estate Finance and Development?

Become a real estate finance leader by earning an MS in Finance with a concentration in Real Estate Finance and Development from UTSA’s top-ranked Alvarez College of Business. The real estate development, home building, and construction industry employs more than 131,000 individuals in San Antonio and over 784,000 individuals statewide. This industry has an economic impact of $19.4 billion each year, second only to the health care industry as an economic generator.

Admission & Application Requirements

Applications are submitted through the UTSA Graduate Application. Please upload all required documents (listed below) on your UTSA Graduate Application. It is the applicant’s responsibility to ensure completion and submission of the application, a nonrefundable application fee, and all required supporting documents are on file with UTSA by the appropriate application deadline.

Real Estate Finance & Development (MS)
  Required Degree Bachelor's Degree from a regionally accredited college or university in the United States or have proof of equivalent training at a foreign institution
  Minimum GPA 3.0 (on a 4.0 scale) departments may consider GPA of last 60 semester credit hours
  Coursework 18 credit hours in an area related to this graduate degree and at least 12 hours must be at the upper-division level
  Transcripts* Required from all institutions attended; international transcripts must be recorded/translated to English
  Credential Evaluation Required if you have earned university-level credit from foreign institutions, submit an evaluation of your transcripts from Educational Credential Evaluators (ECE) directly from the graduate admission application platform
  GRE/GMAT Required scores not older than five years
  TOEFL/IELTS Score 550 TOEFL Paper / 79 TOEFL Internet / 6.5 IELTS scores for International applicants (exempt countries)
  Purpose Statement Required
  Resume Required
  Letters of Recommendation 1 letter(s) of recommendation demonstrating your academic and personal attributes for success in this program (you will request these through the Graduate Admissions Application; let your recommenders know of your deadline to ensure submissions are on time) (optional 3 letters of recommendation can be submitted)
*Unofficial transcripts will be taken into consideration for admissions; however if admitted into the program, you must submit official transcripts to the University.
Apply using 2021-22 Graduate Application Apply using 2022-23 Graduate Application

Admission Deadlines

Applicants are encouraged to have their admission file completed as early as possible. All applications, required documents and letters of recommendation if applicable must be submitted by 5:00 PM U.S. Central Time on the day of the deadline. Deadlines are subject to change.

Real Estate Finance & Development (MS)
Completed applications will be reviewed for admission on rolling basis. Decisions generally will be made and sent to applicants within 4 to 6 weeks of receiving the application.
  Fall Spring Summer
Priority April 1 October 1 Not Available
International June 1 November 1 Not Available
Domestic July 15 December 1 Not Available

Funding Opportunities

Resources Assistantships

Career Options

UTSA prepares you for future careers that are in demand. The possible careers below is data pulled by a third-party tool called Emsi, which pulls information from sources like the U.S. Bureau of Labor Statistics, U.S. Census Bureau, online job postings, other government databases and more to give you regional and national career outlook related to this academic program.


  • Embrey
  • Reata Real Estate Services
  • Security Service Federal Credit Union
  • The Bank of San Antonio
  • USAA Real Estate Company
  • Real Estate Principles
  • Real Estate Finance and Investment
  • Real Estate Construction
  • Real Estate Development
  • Investment Theory and Problems
  • Modeling of Financial Decision Making
  • Entrepreneurial Financial Management
  • Derivatives Markets and Instruments

Graduate Advisor of Record

Tony Ciochetti, PhD

210-458-7333

tony.ciochetti@utsa.edu