Cornell Real Estate Case Competition Draws International Field of Student Teams

Oct 29, 2013

Contact:  Jane Henion, 607.254.8987,
Ithaca, NY, October 29, 2013 - An international field of fourteen student teams will compete in the fifth annual Cornell International Real Estate Case Competition, developed by the Cornell Center for Real Estate and Finance at the School of Hotel Administration and sponsored by an all-star lineup of corporate sponsors, led by Title Sponsor TIAA-CREF. The teams will be competing for a share of $22,500 in prize money in the event, which is scheduled for November 14, 2013. This year's competition moves to a new venue, Convene Downtown @ 32 Old Slip, in New York City.

"This is an exciting competition, of course, but the real purpose is to provide an intense learning experience based on a real-life real estate case," said Professor Daniel Quan, director of the Center for Real Estate and Finance. "The teams will analyze and present their recommendations on an actual real estate transaction. This extends their education far beyond the classroom."

"We are pleased to support this competition, which helps develop critical research and presentation skills for our next generation of real estate investors," said Tom Garbutt, head of global real estate for TIAA-CREF Asset Management. "This hands-on learning event challenges student competitors to apply their classroom knowledge to real-world scenarios and develop practical experience that will further their understanding of the 21st century global real estate market."

This year's competing teams are: Chinese University of Hong Kong (CUHK), Cornell University, Indiana University, New York University, Penn State University, Renmin University, University of Connecticut, University of Michigan, University of Wisconsin at Madison, Villanova University, University of Pennsylvania, University of Texas, University of Aberdeen, and the University of British Columbia.

Each team of six students is given four days to prepare their analysis of the case and make a recommendation. After a preliminary presentation round, three remaining finalist teams will present their case solution to the full panel of judges, who are real estate industry leaders that will determine a winner based on the best overall analysis and presentation. The teams are judged not only on their investment recommendations, their approach to the problem, and their presentation skills, but also on their ability to answer and respond to direct and probing questions posed by the judges.

In addition to Title Sponsor TIAA-CREF, sponsors include Annaly Commercial Real Estate Group, Inc., BlackRock, C-III Capital Partners , Clarion Partners, Claros Fund Management LLC, Goldman Sachs, NRDC, Sawyer Realty Holdings, Tishman, Westbrook, and WX New York Women Executives in Real Estate. This year's host hotel for the competition is Yotel. The competition is also funded in part by the Marjorie Boas Levins and Jack Levins /F.H.T. Rhodes Real Estate Case Competition Fund.

About the Center for Real Estate and 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: Atlantic & Pacific Companies • Caribbean Property Group • Carlson Hotels • Chartres Lodging Group • Crescent Heights • Grove International Partners • Hersha Hospitality Trust • Hilton Worldwide • Hudson Bay Company • HVS • IHG • Jones Lang LaSalle Hotels • LaSalle Hotel Properties • Marriott International •Prudential Real Estate Investors • PWC • Real Capital Analytics • RLJ Lodging Trust • Sawyer Realty Holdings • Spring Bay Property Company • Starwood Capital Group • Sunstone Hotel Investors • The Mega Company • W Holdings • Watermark Capital Partners, LLC • Wells Fargo • Westbrook Partners • Wyndham Hotel Group