Indiana State University Newsroom

Software gift gives finance students experience in real estate forecasting

July 26, 2006

Indiana State University students are gaining real-world experience in commercial real estate forecasting thanks to a gift of computer software. Realm Business Solutions Inc. has donated its ARGUS software to the ISU College of Business for use by finance students.

Houston-based Realm develops software and produces technology for the real estate industry. For more than 20 years, ARGUS software has been the industry standard asset valuation and cash flow projection tool for commercial real estate, and has been test marketed by more than 15,000 users in more than 40 countries.

"Thanks to this generous gift from Realm, ISU College of Business students will now be able to model commercial real estate cash flows, values and deal structures," said Ed Gallatin, instructor in the college's analytical department. "Students will receive the experience that many developers, property and leasing brokers, construction and mortgage lenders, investment bankers and corporate real estate executives receive in the market place. Indiana State is the only university in Indiana licensed to use this tool," Gallatin said.

The software donated to ISU is valued at more than $225,000, Gallatin said. "It is a sophisticated financial analysis program that allows users to analyze and forecast cash flows from commercial real estate ventures including office, retail, industrial, apartment, hotel, motel, and other commercial properties," he said.

ARGUS can also project cash flows and budgets for golf courses, airports, sports arenas, multipurpose structures, and industrial parks, as well as perform simplified cash flow modeling from a set of pre-determined assumptions.

"We deeply value our relationship with Indiana State University as a progressive center of learning where students can become acquainted with the necessary financial analysis skills to compete in today?s global commercial real estate market," said Mark Kingston, president and CEO of Realm Business Solutions.

In addition to Indiana State, ARGUS is currently being used by the Harvard University Business School, Northwestern University's Kellogg School of Management, The Wharton School at the University of Pennsylvania, University of Michigan and The Ohio State University.

About Realm
Realm Business Solutions, Inc. provides software and services that enable its customers to better manage the financial and operational performance of their real estate portfolios. More than 8,000 of the industry's leading owners, managers, financial institutions and REITs trust Realm solutions to improve the visibility and flow of information throughout their critical business processes. Realm is the developer of such industry standard products as ARGUS, BUDGET, CTI, DYNA, INSIGHT and LEASE. Visit Realm's website to learn more about these solutions, as well as reXML, the open source language for exchanging data between Realm and other applications:


Contact: Ed Gallatin, instructor, analytical department, College of Business, Indiana State University, (812) 237-2110, (812) 448-2021 or ; Steven Lamb, professor and chair, analytical department, Indiana State University, (812) 237-2112 or

For Realm media inquiries, please call Jennifer Andrade, vice president of marketing for Realm Business Solutions, at (713) 341-3630,

Writer: Dave Taylor, media relations director, Indiana State University, (812) 237-3743 or