Students from the undergraduate real estate programs at Colorado State University, University of Colorado Boulder and the University of Denver competed in the inaugural ICSC Real Estate Competition Friday morning at the Leeds School of Business on the CU Boulder campus. The team of five undergraduate students from CU Boulder won a hard-fought contest with DU and CSU coming in second and third respectively. The competition required the teams to analyze a retail shopping center real estate investment including acquisition, financing, operations and disposition, and make recommendations to a panel of experienced industry judges. Teams were required to prepare financial proformas, executive summaries and PowerPoint presentations and present their analysis and recommendations during a twenty-minute presentation followed by Q&A by the judges.
The winning team from CU-Boulder included Leeds School of Business real estate students Tripp Howell, Matt Klasco, Hunter Rosenquist, George Ryan and Daniel Pittenger. The team prepared for the competition by working with Leeds real estate faculty and CU Real Estate Center staff for several weeks leading up to the competition. "We're very proud of our students and program, and grateful to ICSC, CSU and DU for making this first year such a great event. We look forward to defending our title next year." said Curtis Sears, one of the real estate faculty at CU Boulder.
The competition was made possible through the generous support of the International Council for Shopping Centers (ICSC), one of the largest real estate trade associations in the world representing retail tenants and shopping centers around the globe. Through ICSC's support, teams received cash awards and each of the participating schools received contributions to be used for student scholarships within their real estate studies programs.
"ICSC is honored to be able to help make this event between three great real estate programs at three great Colorado universities happen. The shopping center industry offers the best and brightest coming out of business schools like these unsurpassed career opportunities, and the young women and men participating in the event this morning are exactly that." said Michael Kercheval, President and CEO of ICSC.
The ICSC Real Estate Competition will be an annual event with hosting rotating between the three Front Range Colorado universities.
Congratulations to the CU-Boulder team for its big win, and to the teams from DU and CSU for a well contested competition.
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