HBS Takes Second Place at the Third Annual National Real Estate Challenge

The HBS Real Estate club competed and placed a team in the finals for the third straight year at the National Real Estate Challenge held in Austin, TX from November 9th – 12th. The National Real Estate Challenge is a case-based real estate competition hosted by The University of Texas at Austin between leading business/real estate schools around the country.

The event takes place in Austin and is meant to give graduate students a taste of the challenges that face real estate professionals after graduation. The competition was judged by esteemed real estate professionals from Goldman Sachs and other sponsoring companies including Trammell Crow, Transwestern, JPMorganChase and Jones Lang LaSalle.

This year, the team was represented by five members: Adam “Revolver” Weers (OD), Brandon “CEO” Blaser (OF), Jeff “King of Returns” Dvorett (OC), Josh “Pinstripe” Wyatt (OI) and Alexa “Secret Weapon” Arena (OD). The team received a case study on the morning of Tuesday November 9th and then had 48 hours to prepare a detailed valuation analysis and strategic assessment of a Goldman Sachs real estate deal. Four members of the team then flew to Austin, TX to give a 20 minute presentation to the judges. The HBS team faced the reigning champion, UC Berkeley, in the first round. Overcoming great odds, the HBS team toppled Berkeley and several other teams from top MBA programs to make it to the finals.

The finals consisted of giving another presentation to well over 100 onlookers, including the stern judges from Goldman Sachs. The other finalists – Stanford and Wharton – presented tough competition. After another grueling presentation including a tense Q&A session from the judges, the results were announced: HBS had beat out Stanford to place second in the competition (an improvement over last year’s third place finish). Wharton took first prize although several onlookers and supporters remarked that the HBS team was “robbed” of its rightful victory. Team captain, Adam Weers, provided strong guidance throughout the competition while Brandon Blaser and Alexa Arena added impressive financial and analytical analysis. Jeff Dvorett and Josh Wyatt rounded out the team by adding strategic insights and analysis. It is also noted that Josh “Steak Club” Wyatt promised steaks to the team if HBS were to place. Accordingly, team HBS will be enjoying a victory steak sometime in the near future.

November 22, 2004
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