In late November, college students from high Actual Property and MBA packages throughout the nation competed within the College of Texas at Austin’s 18th Annual National Real Estate Challenge. Hosted by the McCombs College of Enterprise, groups sq. off in a case-based actual property problem judged by various actual property professionals from lots of the high actual property corporations within the nation. Competing colleges this yr included Berkeley, Chicago, Columbia, Cornell, Georgetown, Harvard, Michigan, MIT, Northwestern, NYU, Penn, Rice, Texas, UCLA, UNC, USC, Vanderbilt, Virginia, Wisconsin, and Yale.
Cornell’s group was led by co-captains Jacob Tannenbaum (Baker ’21) and Parth Patel (Baker ’21). Staff members included Ryan Meiser (Baker ’21), Ben Strine (Baker ’21), Alyssa Gallina (Baker ’21) and David Galstyan (Baker ’21). School advisors who coached the group all through the semester main as much as the competitors included Michael Tomlan and Jon Minikes.
The case for this yr’s competitors was ready by funding managers at Invesco and concerned a vital have a look at the true property market right now because it pertains to the timeline of the COVID-19 pandemic and the political state of right now. The challenge then regarded deeper into analyzing the potential of a brand new industrial improvement alternative with the nuance of a short-term floor lease. Cornell’s response to the case centered on the concept that, “2020 is a chapter, not the story. Developments that already existed have been accelerated briefly. Lengthy-term, the direct results of 2020 can be restricted. Info as we knew them earlier than the pandemic ought to govern choices over unsubstantiated theories of a brand new paradigm.”
The group acquired the case per week previous to the competitors and had 72 hours to organize and submit a response, together with a fantastically crafted pitch deck. This yr’s competitors provided the chance to current in a singular method, over Zoom, to a small panel of judges in a closed room. Winners from every of the 4 rooms have been chosen to compete and current once more within the competitors finals to extra judges.
Cornell has a proud historical past of utilizing this competitors because the climax to a deeply insightful, small, real-world, academic expertise, made doable by the steerage of Jon Minikes. Solely a choose few have the distinction of collaborating within the expertise every year. The category and competitors have a singular legacy within the Baker Program and the Johnson MBA Program, solely actually understood by those that have had the distinction to have participated.