Professor Daniel Quan, creator and organizer of the Cornell International Real Estate Case Competition, speaks at the event.
The student teams were required to develop a 15-minute presentation based on a case handed to them during the competition. Based on a disguised but actual real estate deal, the case involved recommending a purchase price in a deal complicated by potentially unrealistic seller demands and unknown tenant prospects. Based on the facts of the case, the teams had to determine the property’s value and also an offer price, as well as identify likely funding sources, including mortgages and financial partners. Teams were judged based on the quality and distinctiveness of their recommendations.
Here is the full field of teams: Brandeis University, Brown University, Cornell University, Georgetown University, Indiana University, New York University, Pennsylvania State University, Renmin University of China, Stanford University, The Chinese University of Hong Kong, University of Colorado, University of Connecticut, University of Guelph, University of Michigan, University of Pennsylvania, The Wharton School, University of Queensland, University of Sydney, University of Texas at Austin, University of Wisconsin at Madison, and Villanova University.
Cornell was represented by Grant Behnke ’17, Giovanna Cavagnaro ’17, Teddy DeVico ’17, DJ Fan ’17, Jack Henry Kapp ’17, and Jessica Zhang ’17.
This year’s judges were: Amy Applebaum, CALS ’86, Executive Director, JP Morgan; Marty Burger, P ’17, Chief Executive Officer, Silverstein Properties, Inc.; Merrie Frankel, Managing Partner, Andover Associates; Max Friedman, Director, Goulston & Storrs; Jonathan Geanakos, President, Americas, JLL Capital Markets; Jeff Horwitz, CHE ’86, Partner, Head of Lodging and Gaming Group and Private Equity Real Estate, Proskauer; Bruce Kimmelman ’91, Executive Vice President of Capital Markets and Acquisitions, Macklowe Properties; Michael Lehrman, P ’18, Founder and Co-Chief Executive Officer, Cantor Fitzgerald; Fabiana Lotito, Director, Global Real Estate Strategy and Research, TIAA; Jay Mantz, President, Rialto Capital; Allyson Martin, Strategic Real Estate Advisor, HUB International Northeast Limited; Joanna Mulford, Managing Director & PRISA Portfolio Manager/Chief Financial Officer, PGIM Real Estate; Mike Nash, Senior Managing Director, Blackstone; Anthony Orso, Chief Executive Officer and Co-Founder, Cantor Fitzgerald; Peter Peterson ’93, Vice President, Related Urban; Alex Popov ’98, Managing Director, HPS Investment Partners; Ralph Rose, MBA ’84, Managing Director, Global Chief Operating Officer of Real Estate, Citigroup; Chuck Rosenzweig, ’85, JD ’88, Managing Partner, Criterion Real Estate Capital; and Neil Rubler, A&S ’92, Founder & President, Candlebrook Properties.
The competition’s sponsors were: Robert D. Kline, Chartres Lodging Group (Platinum sponsor), YOTELotel (hotel sponsor), Blackstone, Cantor Fitzgerald, Citi, Criterion Real Estate Capital, Goulston & Storrs, HPS Investment Partners, JLL, Macklowe Properties, PGIM, Proskauer, Related Companies, Rialto Capital Management, RXR, Silverstein Properties, TIAA, and WX—New York Women Executives in Real Estate.