| HBS Case Collection
(Revised from original 2003 version)
Waltz on the Danube
Describes the intricate parts of an early real estate deal from the standpoint of the developer including feasibility analysis, market choice, acquisition of land, project development, design and construction issues, investment returns, and equity financing issues. Thirty-two-year-old Dr. Philipp von Wilmowsky is director of Hungarian operations for ECE Projektmanagement, a German real estate development conglomerate. He has been working for two years on the development of a 30,300 square-meter (m2), 75 million Eurodollar shopping project located in the city of Gyor, Hungary. Allows students to analyze the viability and attractiveness of the project and perform calculations on project returns (including co-investor returns), cost analysis, sensitivity analysis, composition of leasing revenues, and loan structuring.
Keywords: Joint Ventures;
Real Estate Industry;
Segel, Arthur I., Vincent Dessain, and Anais Loizillon. "Waltz on the Danube." Harvard Business School Case 804-021, March 2004. (Revised from original August 2003 version.)