UW–Madison’s Department of Real Estate & Urban Land Economics is home to the Graaskamp Center and is one of the top ranked Real Estate Programs in the Country, offering a hands-on, market driven experience at a leading public research university. Through the VISP Thematic Track in Real Estate, visiting students pair rigorous coursework with industry relevant skills in public and private equity, sustainable/green development, affordable housing, and residential development in one of the nation’s strongest real estate ecosystems.
Program Overview
This VISP thematic track is designed for advanced undergraduate-level students and master’s students who want applied training across capital markets and development. Most participants will likely be already at UW-Madison completing the GREM program, however this track is also open to others with an appropriate academic background and strong interest in the subject matter.
Participants select three courses (3 of 5 options) that emphasize underwriting, valuation, investment strategy, and development fundamentals—using real comps and operating data and producing investment committee style deliverables. Students benefit from the Wisconsin School of Business network and Graaskamp Center programming (guest speakers, case discussions, and select events as space permits).
Student Support
From the time you apply to the end of your stay, the VISP staff will be there to assist you. As a VISP participant you have full access to all academic and student support services, such as libraries, computer labs, clubs, and sports facilities; the opportunity to participate in VISP sponsored social and cultural events; and upon completion you will receive an official UW–Madison transcript.
Program Eligibility
Participants must meet the VISP eligibility criteria for admission into this program. Additionally, students must have prior coursework in microeconomics, real estate finance, and real estate valuation. Experience modeling in Excel is also important for success.
While most of the participants will be at the graduate-level after completing the GREM program, advanced undergraduate-level students and others can also be considered for admission. If you have questions about whether you meet the eligibility criteria, please contact the Deputy Chair of the Department of Real Estate & Urban Land Economics, Tim Carr.
Available Terms
Those completing the GREM program will apply for the VISP thematic track program for the spring semester. Those not participating in GREM can apply for the fall and/or spring semester.
Academics & Course Offerings
Course offerings are subject to availability each term but can include:
• RE 540 – Public Real Estate Equity Investment (REIT): Public markets, REIT structure, strategy, and valuation; portfolio and benchmark awareness.
• RE 550 – Private Real Estate Equity Investment (PE): Private-equity deal process, capital stack, underwriting, waterfalls, and investor memos.
• RE 560 – Affordable Housing: Policy and finance toolkits (e.g., LIHTC), deal structuring, public–private partnerships, and community outcomes
• RE 651 – Green/Sustainable Development: design/operations strategies, certifications, resilience and health, and value impacts.
• RE 661 – Residential Property Development: Site selection to stabilization; entitlements, design, budgeting, and delivery.
Additional coursework may also be possible. Please contact the VISP coordinators if you have any questions or would like additional information.
Cost of Attendance
Estimated cost of attendance information is available on the VISP website.
Application Instructions
Submit your VISP application and in your essay please include: “I am applying for the Real Estate VISP track.”
Questions? Please contact the VISP coordinators.