Impressive, very nice.
Congratulations to the exceptional Wisconsin School of Business Real Estate MS team—Stuart Webb, Samantha Lane, Morgan Meyer, and Mario Perez Garcia—for achieving a remarkable 2nd place finish at the inaugural 2024 Berkadia & NYU Stern School of Business Multifamily Investment Case Competition. Competing against a distinguished field of top MBA and MS programs, their success highlights their expertise and dedication to excellence in real estate investment. Over two weeks, the team diligently crafted a strategic proposal for a transformative workforce housing fund. Their concept centered on a $100M equity fund ($310M AUM), targeting the development of Middle-Income Housing (80%-120% AMI) within the San Diego MSA. The strategy focused on repurposing in-fill industrial sites, no longer zoned for industrial use due to AB-98, into multifamily housing developments. Leveraging San Diego's Density Bonus program and Affordable Expedited entitlement process, the proposal aimed to deliver approximately 1,000 affordable units. The fund's financial model projected a stable IRR of 14%, incorporated robust risk mitigation measures, and culminated in a compelling presentation for the investor committee. This affordable multifamily investment case competition provided a valuable capstone experience, bridging academic knowledge with practical application. It equipped the team with the skills to excel in real estate development and inspired a deeper commitment to addressing America’s housing affordability crisis. A sincere thank you to Berkadia, the NYU Stern School of Business, and Sam Chandan for organizing and overseeing an exceptional case competition. Your efforts in creating such a meaningful and well-executed event are greatly appreciated. On Wisconsin!! Wisconsin School of Business, WREAA, Inc., Women In Real Estate - University of Wisconsin, Real Estate Club UW Madison, #UWRealEstate