A modified core-to-valence band maximum approach is applied to calculate band offsets of strained III/V semiconductor hetero junctions. The method is used for the analysis of (In,Ga)As/GaAs/Ga(As,Sb) multi-quantum well structures. The obtained offsets and the resulting bandstructure are used as input for the microscopic calculation of photoluminescence spectra yielding very good agreement with recent experimental results.