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Faculty and Staff

Tobias  Mühlhofer

Tobias Mühlhofer

Research Associate Professor, Finance

(305) 284-9490
Jenkins 514S

Research Interests

  • Real Estate Finance, Empirical Asset Pricing

Selected Publications

Hochberg, Yael and Tobias Mühlhofer (2016). "Market Timing and Investment Selection: Evidence from Real Estate Investors." Forthcoming, Journal of Financial and Quantitative Analysis.

Mühlhofer, Tobias (2015), “They Would if They Could: Assessing the Bindingness of the Property Holding Constraints for REITs,” Real Estate Economics, forthcoming.

Mühlhofer, Tobias (2013), “Why do REIT Returns Poorly Reflect Property Returns? Unrealizable Appreciation Gains due to Trading Constraints as the Solution to the Short-Term Disparity,” Real Estate Economics, Vol. 41, 814-857.

Hartzell, Jay and Tobias Mühlhofer and Sheridan Titman (2010), “Alternative Benchmarks for Evaluating Mutual Fund Performance.” Real Estate Economics, 38(1), Spring 2010, 121-154.

Honors and Awards

  • Outstanding Referee, Real Estate Economics, 2014
  • Research Prize Recipient, Real Estate Research Institute, 2007, 2009, 2011, 2013
  • Runner Up, Best Dissertation Award, American Real Estate and Urban Economics Association, 2006
  • Merit-Based Entrance Award (Merit Scholarship), London School of Economics, 2001

Teaching and Professional Experience

  • Visiting Assistant Professor and Research Economist (Fellow), Department of Finance, and Real Estate Finance and Investment Center, McCombs School of Business, University of Texas at Austin, Austin, TX, USA, 2009-2010, 2013-2015
  • Assistant Professor, Finance Department, Kelley School of Business, Indiana University, Bloomington, IN, USA, 2007-2013


  • Ph.D., London School of Economics, 2006
  • M.Sc., London School of Economics, 2002
  • B.A., Yale University, 2001


  • Commercial Real Estate
  • Performance of Delegated Money Management

    School of Business Administration
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TEL: 305-284-4643
FAX: 305-284-6526
GRADUATE: 305-284-2510
UNDERGRADUATE: 305-284-4641