Cornell Real Estate Case Competition Draws International Field of Student Teams

Sep 13, 2011

Contact:  Jane Henion, 607.255.9780,

Eleven student teams to date have entered the third annual Cornell International Real Estate Case Competition, sponsored by the Cornell Center for Real Estate and Finance. "This is a good solid field, and we are expecting more teams to enter," said competition organizer Daniel Quan, professor of finance and real estate at the Cornell School of Hotel Admininstration.

The teams will be competing for a share of $10,000 in prize money. For the third year in a row, the competition will be hosted by TIAA-CREF, at its corporate headquarters in New York City. This year's competition is scheduled for November 10.

Four days before the presentations, the teams will receive the information regarding a real estate case that is based on an actual transaction. In that four-day period, the six-member student teams must analyze and make recommendations on the case. They will present their conclusions before a panel of fifteen judges who are distinguished real estate professionals. After a preliminary presentation round, three remaining finalist teams will present their case solution to the full panel of judges.

Student teams will represent Cornell University, Guelph University, Indiana University, Maastricht University, New York University, Pennsylvania State University, Renmin University of China, University of Connecticut, University of Michigan, University of Wisconsin at Madison, and Villanova University.

In the competition's first year, the Cornell University team placed first, but in the second round, last year, New York University's team took the first prize.

"We are pleased with the way this competition has grown in the past three years, as we attract an increasing number of teams," said Jan A. deRoos, executive director of the Center for Real Estate and Finance. "I want to thank Professors Dan Quan and Judi Brownell for their assistance in working with the student competitors. It's clear that this competition provides a real-world educational experience for the students. This would not be possible without the considerable support of our sponsors and judges.  I want to thank them publicly and I want to note that we continue to add sponsors, so anyone interested should contact Professor Quan ("

Sponsors for the competition are Archon Hospitality, AREA Property Partners, BlackRock, Clarion Partners, Golden Tree Insite, Mid-America Management Corporation, National Realty & Development Corporation, Prudential Real Estate Investors, TIAA-CREF, Westbrook Partners, and Westport Capital Partners. In addition, Affinia Hotels will host the student teams.

Judges for the competition have included the following: John E. Beaman – Head Claros Trader, AREA Property Partners, Geoff Bedrosian –Managing Director, Deutsche Bank Securities, Todd Giannoble – President, Archon Hospitality, Sally Gordon – Managing Director, Risk and Quantitative Analysis Group, BlackRock, Bruce Habig – Director, US Real Estate Capital Markets, Barclays Capital, Jeffrey Hertz – Director, The Praedium Group, Martin Kandrac – Managing Director, Real Estate Group, The Blackstone Group, Fabiana Lotito – Director of Global Real Estate Strategy and Research, TIAA-CREF, David Lynn – Managing Director, Head of Research and Investment Strategy Group, ING Clarion Partners, John G. Orrico, President, National Realty and Development Corp., Martha S. Peyton- Managing Director, Head of Strategy and Research in the Global Real Estate Equities Division, TIAA-CREF, DRA Advisors LLC, Kevin A. Scherer – Managing Director, BlackRock, Francis X. Tansey – Co-founder and President, Steve Vittorio – Managing Director, Prudential Real Estate Investors, and Steven Wolf – Value Enhancement Funds Business Leader and Head of U.S. Portfolio Management, AREA Property Partners. 

About the Center for Real and Estate Finance
Established in 2009, the Center for Real Estate and Finance provides a platform for educating students, creating new knowledge through research activities, and exchanging information about real estate with a broad set of audiences. CREF is at the forefront of research in all areas of commercial real estate, from the study of the behavior of real estate assets in investment portfolios to an understanding of real estate capital markets to the science of hedging real estate risk. To learn more about CREF, visit

CREF Industry Fellows: Abacus Lodging Advisors • Archon Hospitality • Atlantic & Pacific Companies • Carlson Hotels Worldwide • Chartres Lodging Group • Crescent Heights • Hersha Hospitality Trust • Hilton Worldwide • HVS • Jones Lang LaSalle Hotels • LaSalle Hotel Properties • Marquette Real Estate Group, Marriott International • National Realty & Development Corp. • Prudential Real Estate Investors • Real Capital Analytics • Sawyer Realty Holdings • Spring Bay Property Company • Starwood Capital Group • Sunstone Hotel Investors • W Holdings • Watermark Capital Partners • Westbrook Partners

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