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Badgers Finish Strong in Case Competitions

By Monika Multhauf

April 29, 2025

(Left to right) Gin Du, Will Ross, Bryan Zaramba, and Aaron Kindle posing with Wisconsin W's on the UT Austin Campus

Over the past academic year, six teams of real estate students competed against other schools in case competitions throughout the county. These case competitions offer incredible opportunities for students to apply classroom concepts to real world problems, preparing them for successful careers. Students must utilize their unique skills as they work together and solve problems while analyzing case materials.

Special thanks to Arif Qureshi for coaching and managing logistics for all of the external case competitions and the Bascom Group for their continued support and sponsorship of case competitions. Thank you to all of the hosting organizations for creating impactful educational experiences for the students.

CREFC Real Estate Debt Case Competition

(Left to right) Grace Dempsey, Caleb Reddeman, Shane Faulker, Abby Sindelar, and Brenna Paul holding their second place check.

Grace Dempsey (MS ’25), Caleb Reddeman (MS ’25), Shane Faulker (MBA ’26), Abby Sindelar (MBA ’26), and Brenna Paul (BBA ’25) placed second in the CREFC debt case competition, competing against ten teams of top real estate graduate and undergraduate programs nationwide. The team underwrote a $380M mixed use office and retail asset in Manhattan’s Plaza district, meeting the bank’s DSCR, LTV, and DY requirements. Their comprehensive evaluation of economic data, property leases, absorption trends, and comparable properties determined a loan size and term with risk mitigation strategies.

NAIOP Development Case Competition

(Left to right) Mason Strain, Andrew Walsh, Sebastian Alcantar, Veeraj Luthra, and Will Vu holding their first place check

UW Undergraduate Real Estate students placed first out of five teams at the 2025 NAIOP Minnesota Chapter Development Case Competition. Mason Strain (BBA ’25), Andrew Walsh (BBA ’25), Sebastian Alcantar (BBA ’25), Veeraj Luthra (BBA ’25), and Will Vu (BBA ’26) worked together to craft a detailed proposal for a 40-acre site in Plymouth, MN. After looking at Plymouth’s 2024 Comprehensive plan, feasibility analysis of six potential land uses, and the maximized power availability of the site, the team determined the highest and best use was a combination of a 25 MW data center and 425,000 SF of industrial development.

Boston University Hospitality Real Estate Competition

(Left to right) Alex Lortscher, Ethan Gomez, Nikhil Robinson, and Grant Atkinson holding their first place check with the Boston City in the background.

The undergraduate team of Alex Lortscher (BBA ’26), Ethan Gomez (BBA ’25), Nikhil Robinson (BBA ’25), and Grant Atkinson (BBA ’25) placed first place at the inaugural Boston University Hospitality Real Estate Competition. Together, the team crafted a comprehensive proposal for an air rights development next to Fenway Park. Their mixed use plan featured a 320-key Kimpton Hotel, 112,000 SF of retail, and 500 beds of student housing. The team’s feasibility analysis carefully integrated sustainability, risk mitigation, and city guidelines, offering a valuable capstone experience.

Boston College Concoran Case Competition

(Left to right) Luke Anderson, Alexander Lynn, Amanpreet Sehra, and Logan Nyborg together in front of the Wisconsin School of Business Sign

A team of Wisconsin Undergraduate students finished second out of 53 teams from 46 universities nationwide. Luke Anderson, Alexander Lynn (BBA ’25), Amanpreet Sehra (BBA ’25), and Logan Nyborg (BBA ’25) worked together over several weeks to create a development proposal for a site in Jacksonville, Florida. Their concept featured 24 affordable housing units utilizing 4% LIHTC financing, with design features of community spaces and a rooftop garden. The team’s design satisfied affordability and sustainability benchmarks, as well as community needs.

Berkadia & NYU Stern School of Business Multifamily Investment Case Competition

(Left to Right) Stuart Webb, Samantha Lane, Morgan Meyer, and Mario Perez Garcia standing behind a NYU Stern podium

The graduate team of Stuart Webb (MS ’24), Samantha Lane (MS ’24), Morgan Meyer (MS ’25), and Mario Perez Garcia (MS ’24) placed second at the inaugural Berkadia and NYU Stern School of Business Multifamily Investment Case Competition where they competed against other top MBA and MS programs. The team created a strategic proposal to deliver approximately 1,000 affordable units in San Diego for an equity fund targeting workforce housing. Their financial model projected an IRR of 14% with risk mitigation measures, leveraging municipal zoning code changes. While presenting, the team dilligently answered questions posed by the investor committee head on, highlighting their flexibility and expertise.

National Real Estate Challenge

(Left to right) Gin Du, Will Ross, Bryan Zaramba, and Aaron Kindle posing with Wisconsin W's on the UT Austin Campus

Four graduate students, Bryan Zaramba (MBA ’25), Aaron Kindle (MBA ’25), Gin Du (MS ’24), and Will Ross (MS ’25) competed at the National Real Estate Challenge, hosted by the Texas McCombs Real Estate Center. The team earned an Honorable Mention after placing second out of five teams in the preliminary round. Students were tasked with creating a strategy to recapture an undervalued, open-ended multifamily fund facing liquidity challenges. The team’s approach closely mirrored the solution outlined by Invesco US, the company that designed the case. Even though the team did not have prior coursework focusing on real estate portfolio management, they worked together to use strategic and critical thinking skills in solving a complex challenge.

Wisconsin Real Estate Private Equity Club Case Competition

Real Estate Private Equity First Place team holding a $3,000 check

Undergraduate students also had the opporunity to compete against fellow real estate badgers. Last semester, 15 assigned teams competed against each other for the second annual REPEC case competition, co-sponsored by Harrison Street and Capital One. Students analyzed and presented a student housing acquisition to a panel of judges made up of faculty and professionals from both Harrison Street and Capital One. The internal case competition is a great experience for students to work on problem solving in a team setting, potentially preparing them for external case competitions.


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