Real Estate Case Competition Team Competes in NYC

Six Smeal undergraduate students recently participated in the 2017 Cornell International Real Estate Case Competition held in New York City on Tuesday, November 14. Following a 10-week training course on campus, the Penn State team joined 26 other schools from around the world at the Cornell-hosted event which tested students’ ability to break down a complex real estate acquisition scenario, formulate a story, and recommend an investment strategy.

2017 Cornell International Real Estate Case Competition Team

Six Smeal undergraduate students recently participated in the 2017 Cornell International Real Estate Case Competition held in New York City on Tuesday, November 14.  Following a 10-week training course on campus, the Penn State team joined 26 other schools from around the world at the Cornell-hosted event which tested students’ ability to break down a complex real estate acquisition scenario, formulate a story, and recommend an investment strategy.

This was Cornell’s 9th year hosting the competition and the business case for 2017 focused on the commercial retail market in downtown Madrid, Spain.

Teams were composed of six students representing each school and all competitors received the case assignment 96 hours prior to the time to make their pitch.  Top industry leaders from all over the northeast volunteered to serve as judges during the event.  Each team’s presentation included a 15-minute pitch followed by a 15-minute question-and-answer period.

Penn State’s team excelled, receiving high marks from the judges for offering a creative acquisition and lease-up strategy.  PSU achieved second place in its bracket, followed by Georgetown, Indiana, and Stanford.  Wisconsin took first place in the bracket and achieved fourth place in the final round.  The overall competition winner this year was the team from Wharton.

Penn State’s team included a mix of juniors and seniors selected to represent a class of 12 students enrolled in a semester long course focused exclusively on real estate case competition analysis, preparation, and delivery.  In addition to building teamwork and presentation skills, all students in the course achieve the opportunity to practice and build on concepts they are learning in other courses in the department such as valuation, market analysis, value-add strategies, and equity and debt financing.

Pictured in the photo is this year’s team:  Front Row (L-R), Brett Ambrogi, Katelin Borrero, Ellis Painter; Back row (L-R) James Barnett, Will Denney, and Brendan Warrington.