The language of instruction is largely English and German.

Goal and contents

The aim of the case study is to sensitize students to the real estate and financial perspectives and to give them an application perspective. They should become aware of the role of return, risk and debt capital as well as their different significance depending on the investment strategy. This requires a second focus on the explanation of real estate investment strategies and corresponding investment vehicles. Students spend 2.5 days working intensively on the topics of real estate investment and financing in order to understand their overall context. The block structure will be significantly loosened up by an excursion within Darmstadt, the continuous use of MS Excel and group work.

Learning objectives

Development of personal skills in the use of MS Excel

• Understanding the interaction of risk and return in real estate investment and their impact on investment strategies, decisions and vehicles
• Ability to independently carry out simple investment calculations and apply the decision variables of net present value and internal rate of return
• Understand the basic types of real estate financing. This includes traditional real estate financing as well as structured financing and the use of corresponding covenants.

Organizational details

Registration is mandatory for participation. The number of participants is limited. If there are more registrations than places available, the allocation will be based on several criteria (time of registration, specializations, number of semesters, etc.).

For successful participation in the real estate case study, registration in the member area of WiBiNET e.V. at www.wibinet.net is required.

Participation is possible for Bachelor and Master students!

Students at FB01 can have the case study recognized as a voluntary additional achievement. For this purpose, registration in TUCaN is required both for the event and the coursework. All participants will receive a certificate of attendance

About Dr. Holger Markmann

Holger Markmann is the founder and managing director of Markmann Real Estate in Lindlar, a real estate investment advisory platform, which pursues value-add strategies. In his prior role in Investment Banking at J.P. Morgan, Holger advised among others in the Initial Public Offering of Talanx AG and the sale of Hypo Alpe Adria Bank.

His research focuses on real estate, banking, and monetary policy. In particular, his doctoral thesis examined the impact of the ECB’s monetary policy interventions on the covered bond market. Holger’s teaching includes lectures on real estate finance, investment, and development, both, on the graduate and executive education levels.

In addition to his PhD, Holger has also earned his undergraduate degree from EBS Business School, his MSc Finance from ESADE Business School, and a second undergraduate degree from Brock University. Finally, he is a CFA charterholder.