EXECUTIVE MBA
REAL ESTATE
“The IRE
|
BS Real Estate Academy is highly committed to participants‘ needs and through the Executive
MBA in Real Estate Programme develops their managerial skills. In addition, it strengthens their
under-standing of international connections: for example, we spoke with investors in the USA and China about
their experiences and bases for decision-making. It is a decisive competitive advantage to understand
the thought process and approach of these decision makers.”
Arthur Loosen CBRE | Senior Consultant
„The Executive MBA in Real Estate has, most importantly, improved my market value as an independent
entrepreneur. Secondly, it has enabled me to build up a long-standing international network. Travel is
an invaluable source of knowledge and education – combined with high quality teaching and excellent
contacts, it opens up doors, both physically and mentally, directly in the real estate sector.”
David A. Pieper Virtù | CEO Investment
„I wanted to let you know how much your student’s participation in the class improved my experience
at the real estate program at Harvard. I hope your students got as much out of it as I did. Cross-cultural
study certainly has many social and professional benefits and this class proved that point well. I hope
that we can stay in touch. I found your experiences and your participation integral to my learning
experi-ence and I do hope our paths cross again.”
Martin P. Kane Talcott Realty Investors | Senior Vice President
„I am still benefitting after the course from the excellent network it provided. Due to the various fields
of specialisation of the course participants, who are working for companies at the regional or national
level, I have the possibility to turn to the right contact for each specific issue. The exchange of opinions
among participants is crucial both during and after the course. An interesting network is the result.”
Kristina Brockhoff Brockhoff & Partner Immobilien
„The EMBARE course of studies has fully lived up to my high expectations. It has enabled me not only to
update but also to deepen my knowledge. In particular, the stays abroad at excellent partner institutes
have broadened my outlook enormously. I will now be able to meet our customers‘ needs even better.
For this reason, I will benefit from the EMBARE course just as much as from the Real Estate Economics
group course I took ten years ago.”
Jörg Kuttig FRICS JKT Immobilien GmbH | CEO
„For my career, the stays abroad at world renowned partner universities were particularly valuable as I
was able to optimise my managerial skills in an intercultural exchange with committed professors and
practitioners. With the well-established international MBA qualification, I am ideally equipped to take on
a further managerial position in the Sparkassen-Finanz Group.”
Jörg-Stephan Garms IDB Wesermünde-Hadeln | CEO
Optimal learning environment at
leading universities worldwide
The Executive MBA in Real Estate (EMBARE) was designed to meet the requirements for the world‘s
leading executive programme for real estate professionals. The course is directed at senior and junior
executives who have an initial university degree, a further degree in real estate or economics, several
years‘ work experience and a good knowledge of English. The aims are, firstly, to teach managerial skills
which will enable participants to successfully run a real estate business, and, secondly, to convey “state
of the art” real estate know-how and market expertise in an international context.
The well-established Executive MBA in Real Estate opens up attractive career opportunities.
It allows you to ...
... further develop and deepen your knowledge through goal-orientated teaching and discussion with
lecturers who have practical experience and other market players.
... obtain a recognised qualification: successful participants carry the title „Master of Business
Ad-ministration (MBA)“. The IRE
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BS qualification also enjoys an excellent recognition in the
real estate sector.
... benefit from our contacts with excellent partner universities in Reading (UK) and Harvard (USA).
... benefit from our excellent reputation as a renowned provider of real estate executive
education: the IRE
|
BS International Real Estate Business School Academy is part of the Faculty
of Economics at the University of Regensburg.
... develop contacts for your professional future: participants have access to membership of
IMMOEBS, Germany‘s largest network in the real estate sector. In particular, specialised regional
events provide ideal conditions for networking and further discussions with colleagues.
Course Content
Strategic Management > Strategy concept
> Strategy management process > Sector analysis using the Five Forces model of M. Porter
> Basic and company strategies > Case study
Innovation Management > Technology strategy
> S-curves und „Disruptive Technology“ > Implementation
> Nypro case study Company Appraisal
> Financial-mathematical basis for appraisal > Calculation of cash flows
> Appraisal using multiples > Calculation of capital costs
> WACC method and other DCF methods Corporate Management
> Theories of company management > Normative management > Strategic management > Operative management Negotiations > Fundamental methods > Techniques Business Ethics
> Necessity of business ethics > Function of business ethics > Implementation of business ethics Corporate Governance
> Boundaries of corporate governance > Corporate governance in Germany > Social responsibility
> National and international governance models > Initiative for corporate governance in the German real estate sector
> Lessons from the crisis
MODULE 1
GENERAL MANAGEMENT
Fundamentals of International Accounting > Reasons for the international standardisation of accounting
> Relevant institutions and norms
> Significance and conceptual basis of the IFRS > Central financial reporting instruments in accordance with IFRS
> Fundamentals of financial reporting in accordance with IFRS
> Financial reporting of material assets and liabilities in accordance with IFRS > Income statement and equity statement > Cash flow statement
International/Intercultural Management, Cultural Diversity Management, Culture Concepts/Culture Standards > Activity-based management concepts > People-based management concepts > Handling-based management concepts > Personnel qualification
Multinational Work Groups/ Intercultural Management Style > Requirements
> Features/Implementation
Strategic Real Estate Financing in Practice > Understanding financing strategy as result of a strategy process
> Structural elements of a financing strategy > Financing of a real estate business > Expectations management Personnel Management
> Relevance and real estate relevance > HR management
> Leadership
> Personnel management systems > HR controlling
Real Estate Accounting
> Real estate accounting in accordance with HGB
> Classification of real estate for accounting in accordance with IFRS
> Real estate held as stock/as part of construction contracts
> Real estate as a fixed asset > Financial investments in real estate > Real estate available for sale Real Estate Portfolio Management > Incorporating portfolio management into risk management
> Portfolio Theory according to Markowitz > Problems of applying Portfolio Theory in practice
> Overcoming boundaries of Portfolio Theory in practice
Fundamentals of Corporate Taxation > Basics of German tax system > Basics of fiscal law > Interest restriction Real Estate Taxation
> Acquisition and construction phase > Utilisation phase
> Termination phase Capital Market Management > Capital market efficiency > Stock market
> Bond market > Risk management > Behavioural finance
Real Estate Investment Banking/Structured Finance > Mergers and Acquisitions
> Initial Public Offerings (IPOs) > Convertibles
> Capital Increase
Real Estate Investment Products > Direct real estate investment > Indirect real estate investment Real Estate Project Development
> Project development today: market and players > Trends and strategies in real estate investment and their effects on business models in project development > Paradigm shifts in investors’ asset allocation
> Value-based project development and investment > Value creation and project development fees > Participation models and partnerships > From project development to asset management > Aspects of sustainability in project development National and International Real Estate Valuation > Types of value
> Standardised procedures > Non-standardised procedures > Valuation parameters > Procedure application
Real Estate Cycles and Forecasting Models > Market models
> Real estate cycles > Forecasting methods > Econometric Models Urban Planning > Situation analysis
> Europe: transformation and shrinkage/ spatial disparities
> Urban planning development schemes > International differences
> Brownfield revitalisation and waterfront developments
> Shopping centres Regional Economics
> Interaction – market potential approach and gravitation models
> Distribution and dynamics
> Regional research and real estate markets International financial markets
> International capital flows > Balance of payments
> Merits of international movement of capital > Business activity in the open economy > Fixed exchange rate systems > Sovereign default
> International debt crises > 2007-09 financial crisis > 2010- EMU sovereign debt crisis > Who benefits from international capital movements?
Urban and Real Estate Economics
> Simultaneous model on real estate asset and real estate use
> Markets, urban agglomerations, rents and prices > The urban housing market: Structural attributes and density
> Firm’s site selection and industrial land use
Demographic Developments and the Real Estate Sector > Demographic trends
> Housing markets under pressure? > Pressure on commercial real estate > Management implications
Internationalisation of the Real Estate Market > Market overview
> Internationalisation of investors > Internationalisation of vehicles Globalisation
> Globalisation and globalisation critics > Sources of foreign trade earnings > Trade and income distribution > Trade policy: instruments and institutions > International mobility of work and capital Decision-based Game Theory
> Elements of game theory > Static games
> Dynamic games with complete and incomplete information
> Negotiations > Auctions
Sustainable Real Estate
> Sustainable development approach > Overview of certification systems
> German sustainable building seal of approval > Comparison of DGNB and LEED programmes Economic and Financial Policy
> Economic developments and economic policy > Monetary Union crisis
MODULE 2 ECONOMICS
HARVARD: INVESTMENT SKILLS & TREND ISSUES FOR THE
REAL ESTATE INDUSTRY
Harvard University occupies top place in many university rankings. The lectures of the Executive MBA
Real Estate at this elite university are interactive: course participants discuss specific projects with
re-nowned lecturers of the Harvard faculty and personalities from the international real estate investment
world – sometimes even through “team teaching” – and thereby learn to assess the opportunities and
pitfalls of international strategies. The teaching takes place on the Harvard Campus.
Course Leader:
Prof. Richard B. Peiser Ph.D.
CHINA: PROJECT RELATED DIALOGUE WITH RENOWNED ExPERTS
In Shanghai and Hong Kong course participants experience through intensive discussion of numerous
projects what makes the dynamic and volatile real estate markets of China so special and how
mega-cities can be developed. Course participants speak directly with real estate developers and investors,
discuss the progress of projects and experience Chinese urban planning in situ. All projects and project
presentations are analysed and evaluated by our training partners in an intensive debrief.
Course Leader:
Keith McKinnell Ph.D. MRICS
READING: INVESTMENT SKILLS WITH A FINGER ON THE
INDUSTRY’S PULSE
Reading is one of Europe’s most respected universities for real estate research. Here course participants
learn international valuation, the benefits of various investment and financing vehicles and how real
estate markets tick in the Anglo-Saxon world.
Course Leader:
Eamonn D’Arcy
MODULE 3INTERNATIONAL REAL ESTATE
The course of studies is completed with the Master‘s thesis, for which a three-month preparation
period is provided. It may cover themes relevant to the participant‘s employer, provided these are
academically challenging.
MODULE 4 MASTER‘S THESIS
HARVARD: INVESTMENT SKILLS & TREND ISSUES FOR THE REAL ESTATE INDUSTRY
For the MBA in Harvard,
Shanghai, Hong Kong,
Reading and Germany
International Strategies
Richard B. Peiser Ph.D.
Harvard Graduate School of Design, Harvard University, USA.
READING: INVESTMENT SKILLS WITH A FINGER ON THE INDUSTRY’S PULSE
Valuation & Investment
Mr. Eamonn D‘Arcy
Henley Business School University of Reading, UK.
HONG KONG & SHANGHAI: PROJECT RELATED DIALOGUE WITH RENOWNED ExPERTS
Project in Emerging Markets
Prof. Keith McKinnell,
MRICS, FHKIS
Academic and Managing Director Real Estate Academy in China (REACh)
Prof. Dr. Tobias Just
IRE|BS – International Real Estate Business School
University of Regensburg
Smart Cities
ELTVILLE & REGENSBURG: EFFECTIVE STUDIES WITH PERSONAL SUPPORT
Course Summary
All events will take place in English. Upon successful completion of all modules, the “Master of Business
Administration” will be awarded by the Faculty of Economics of the University of Regensburg.
ADMISSION REqUIREMENTS
„Master of Business Administration (MBA)“
Module 1 | 21 days
General Management (Regensburg/Eltville)
Module 2 | 10 days
Economics (Regensburg/Eltville)
Module 3 | 22 days
International Real Estate (Reading/China/Harvard)
Module 4 | 3 months
Master‘s Thesis (Residence/Place of work)
Applicants should submit an application for admission to the course, including:
at least a three-year university degree (180 ECTS) in business studies, economics, law, urban planning, architecture, engineering, etc. from a University, University of Applied Sciences or Cooperative University at least 60 ECTS of post-graduate courses in real estate related subjects, e.g. Real Estate Economics,
Master of Science in Real Estate or „CIS HypZert F“
alternatively 240 ECTS from another course of studies. The academic supervisors of the MBA programme will decide if the admission is possible.
experience in the real estate industry and related sectors a good knowledge of English
APPLICATION
SELECTION
The Admissions Committee selects applicants on the basis of the written applications and a selection interview. The main criteria for selection include:
a comprehensive knowledge of real estate motivation
language skills
The course begins with two one-week blocks (Monday to Friday). The other seven end-of-week blocks take place from Wednesday or Thursday to Saturday.
A course day generally amounts to eight to ten academic lessons (each 45 minutes). Lectures begin at 8.00 am or 9.30 am and finish at 5.30 pm or 7.30 pm.
Prof. Dr. Lutz Arnold
University of Regensburg
Prof. Dr. Alexander Bassen
University of Hamburg
Martin Belik MRICS
Cushman & Wakefield
Prof. Dr. Sven Bienert MRICS
Probus Real Estate; University of Regensburg
Prof. Dr. Stephan Bone-Winkel
BEOS; University of Regensburg
Prof. Dr. Gregor Dorfleitner
University of Regensburg
Prof. Dr. Michael Dowling
University of Regensburg
Prof. Dr. Jürgen Ernstberger
Ruhr University Bochum
Prof. Dr. Dirk Ulrich Gilbert
University of Erlangen-Nürnberg
Prof. Dr. Max Göttsche
Catholic University of Eichstätt-Ingolstadt
Prof. Dr. Axel Haller
University of Regensburg
Prof. Dr. Jürgen Jerger
University of Regensburg
Prof. Dr. Tobias Just
University of Regensburg
Dr. Annette Kämpf-Dern
Technical University of Darmstadt
Prof. Dr. Wolfgang Maennig
University of Hamburg
Prof. Dr. Joachim Möller
Institute for Employment and Occupational Research of the German Department of Employment; University of Regensburg
Prof. Dr. Klaus Röder
University of Regensburg
Christian O. Schmitt
Deutsche Bank
Dr. Bernhard Scholz
Deutsche Pfandbriefbank
Prof. Dr. Steffen Sebastian
University of Regensburg
Dr. F. Ferdinand Spies
Tishman Speyer Properties Deutschland
Prof. Dr. Thomas Steger
University of Regensburg
Prof. Dr. Silke Weidner
Brandenburg Technical University Cottbus
Prof. Dr. Kristin Wellner
Technical University Berlin
Prof. Dr. em. Wolfgang Wiegard
University of Regensburg
Lecturers
Prof. Dr. Tobias Just
University of Regensburg
Prof. Dr. Michael Dowling
University of Regensburg
Prof. Dr. Wolfgang Schäfers
University of Regensburg
