EBS Master in Management (M.Sc.) Specialization Real Estate Finance, Valuation & Development
Motivation The European Business School (EBS) established the first Department of Real Estate in Germany in 1994. By creating the Real Estate Management Institute (REMI) in 2006 the activities were centralized within the institute. The aim is to maintain the highest standard of undergraduate, graduate, and postgraduate teaching for the real estate industry. We conduct internationally recognized, cutting edge research in the fields of real estate investment, finance, banking, real estate economics as well as in fiscal and legal real estate issues. The Institute enjoys strong support from the real estate industry, foremost from companies in the area of real estate banking, investment, and management. It is our strong belief that a high output of thought-leading research together with close and sustainable links to the corporate world are prerequisites for the Institutes excellence in developing top entrepreneurs and managers. The real estate sector itself underwent a remarkable change within the last five years. In a world of highly sophisticated capital markets and international transactions on the equity and debt side the concept of “bricks and mortar” is no longer a valid approach to real estate business. Today’s professionals are required to possess a bundle of rigorous theoretical knowledge. In order to address these challenges EBS offers in its Master in Management programme the specializations “Real Estate Investment & Management” and “Real Estate Finance, Valuation & Development” which are especially tailored to educate this new type of real estate managers. Objective The Institute carries out both pure and applied research. Our close relationships with the corporate world are manifested in numerous joint research projects, which enable the Institute to investigate present issues with practical relevance. The Institute undertakes research that is nationally and internationally recognized, academically rigorous, and policy relevant. The target of the specialisation “Real Estate Investment & Management” is to deepen the students’ understanding of how the relevant aspects of the real estate profession work within the framework of the property transaction, emphasizing the two key issues real estate investment and management.
As a final result, students will be capable of efficiently and effectively applying the gained knowledge within transaction based real estate on the interface of real estate and capital markets. Requirements/Prerequisites Students who want to participate in the specialization “Real Estate Finance, Valuation & Development” require basic knowledge in the field of real estate, i.e. - real estate valuation - real estate investment and finance - real estate development & urban planning - fundamentals of real estate law - development of office and retail property. The level of proficiency should be comparable to students who have completed the EBS Bachelor of Science in General Management. Upon request, applicants who lack certain of the above mentioned qualifications can be provided with preparatory material in order to achieve an appropriate level before the courses of this specialization start. Programme Content Whether or not you intend to enter the real estate profession, our undergraduate and graduate degrees offer a solid foundation on which to build a career in a wide range of other fields such as finance, law, general management, or consultancy. Building upon the more general contents at Bachelor level (as outlined above), the goal of the specializations at Master level is to prepare students for typical management positions within the real estate industry such as real estate investors, analysts, or asset or portfolio managers. Double Degree Programmes Those participants in the specialisations who opt to take two semesters abroad (instead of one) have the opportunity to acquire a second master’s degree (double degree programme). It is highly attractive to combine a more generally oriented master’s degree at EBS with a specialized master’s degree from one of our partner universities. This strengthens the students profile both towards expertise in real estate and towards international experience as well as language skills. As the EBS course content is based on real estate investment, finance and management, it is a perfect fit take on the partner programmes in the
US and Asia which concentrate on development as well as urban development and architecture. The course content of the specialization “Real Estate Finance, Valuation & Development” looks as follows: Module and Course Overview Advanced Valuation (2 ECTS) German Valuation Standards International Valuation Real Estate Accounting Workshop on Real Estate Valuation, Investment and Finance Basics in Real Estate Development Legal Basics Planning and Analysis “Real” Project Cases (in cooperation with architecture students from University of Applied Sciences Frankfurt/Main) Real Estate Innovation Management Real Estate Marketing Real Estate Investment and Finance
Real Estate Development (4 ECTS) -
Real Estate Case Analysis (2 ECTS) -
Typical Careers Expert knowledge in the field of real estate transaction is a central qualification for modern real estate managers. Students at EBS acquire this important expertise during their Master studies with focus on this specialization. This lays the foundation for their future career as real estate managers with profound transaction based skills. Our educational concept contributes to the formation of a new generation of interdisciplinary managers. Typical careers after the completion of the Master studies are: Finance Manager International Real Estate Investment Banker Development Project Accountant Real Estate Financial Analyst Real Estate Manager Finance & Accounting International Relationship Manager for Commercial Property Financing Real Estate Appraiser Real Estate Investor Contact Person
Prof. Dr. Nico Rottke Executive Director Real Estate Management Institute Assistant Professorship Real Estate Banking European Business School International University Schloss Reichartshausen Campus Wiesbaden Rheingau Palais Real Estate Management Institute Söhnleinstrasse 8 D 65201 Wiesbaden, Germany Phone Fax Email Web +49 (0) 611 360 18 931 +49 (0) 611 360 18 902
Advanced Methods of Real Estate Banking & Finance (2 ECTS) Real Estate Investment Banking Real Estate Private Equity Real Estate Securitization Behavioural Real Estate
Seminar on Real Estate Corporate Finance (3 ECTS) Real Estate Corporate & Structured Finance Portfolio and NPL-Transactions Due Diligence
rottke.ebs@rem-institute.org
http://www.rem-institute.org
Cooperation with Companies The Real Estate Management Institute at EBS has numerous company partners from various industries in the fields of real estate banking, investment, management, or consulting. Managers and experts from these companies contribute to both specializations in various ways, i.e. with guest lectures, field trips, seminar topics, panel discussions, and joined supervision of master theses.