In celebration of the CUREC 20th Anniversary, we are pleased to announce a new initiative to recognize our students and their outstanding efforts.
Please see the "Request for Nominations" form for all of the details, and nominate an outstanding real estate student! Recognition of these award recipients will be presented at the 20th Anniversary Gala on April 28, 2017.
Nomination deadline is February 28, 2017
On December 8, 2016 three teams of CUREC graduate students (both MBA and MS) competed in the Bascom Graduate Real Estate Case Competition. The competition was funded with a grant from The Bascom Group. The case study, a multifamily acquisition/rehab in Las Vegas, Nevada, was also provided by Bascom. Student teams were asked to evaluate the investment opportunity, suggest an offering price, recommend debt financing, provide a financial analysis of the acquisition and rehab, compute expected unleveraged and leveraged IRRs on the property, forecast partnership cash flow and estimate expected returns for Bascom as well as the passive investors. The teams were given 20 minutes to sell their proposal to a panel of industry judges.
The team consisting of Malcom Craig, Ashley Dancer, Taylor Egner and Juan Rodriguez took first place and a cash price of $5,000. The second place team was awarded $3,000 and the third place team was awarded $2,000. I would like to thank David Kim and The Bascom Group for funding this important exercise. I would also like to thank the judges for taking the time to evaluate the students’ performances. The judges were Brad Blash (Crossbeam Capital), Kim Koehn (K2 Ventures, LLC), Kevin Knapp (Element Properties), Kiely Wilson.
With the first day of classes for the spring semester on the horizon, a group of 15 real estate-focused MBA and MS students recently spent three days in Seattle, Washington, visiting with industry players and learning about the local market. As is typical for a CUREC "Trek", the schedule was packed with developers, investment managers, operators, and market experts.
Led and organized by CUREC Associate Director Katie Latier and Executive Director Mike Kercheval, the group visited a total of twelve companies, spanning all product types. They also made time to explore the city a bit and enjoy some of the Seattle's delicious seafood.
Highlights of the trip included:
The group brought a deep curiosity to each visit, and made excellent use of the opportunities to gain firsthand knowledge from professionals in the field. They returned to Colorado with fresh perspectives, ready to apply many new ideas to their studies and their ongoing careers.
With 13 seniors graduating this past December, there are now 140 students in the undergraduate Real Estate Certificate program. Our spring senior class consists of 64 students who are required to have an internship during their senior year. Some of the internship placements include Verdad Real Estate, Monarch Investments, Colliers International, Keller Williams, 8Z, Richfield Homes, Jones Lang LaSalle, Tryba Architects, Coldwell Banker and HFF among others. The seniors attend a 3-credit Real Estate Internship class on Monday nights. The class includes a mock interview and résumé review with Leeds Career Development staff as well as participating in a group presentation on a real estate career of their choice. During each class, the seniors have an opportunity to talk about their internship experiences and share their “highs & lows” with the rest of their peers. For further information on hiring our undergraduates for either internships or permanent positions, please contact Lisa Chambers.Real Estate Club
The Club’s line-up of meetings in the fall had a multitude of outstanding speakers. CUREC Executive Director Mike Kercheval spoke at the first Club meeting discussing his career path, his years at ICSC and his commitment to bringing a global view of real estate to CU’s real estate students. Joe Neguse, the Executive Director of Colorado DORA (Department of Regulatory Agencies) spoke to the Club members about how the Division of Real Estate fits into DORA and his need to balance consumer protection with the business needs of the licensed real estate professional. Another speaker, Gabe Bodner, discussed how technology is changing the access to real estate information. The Club sponsored two construction site tours and a day of volunteer service building a house for Habitat for Humanity in Longmont. The Club had a evening industry event interacting with many of the professional organizations (NAIOP, ULI, CREW, ICSC, BOMA, etc) and students signed up for student memberships in these organizations. The fall semester ended with a panel of young real estate alumni speaking to Club members about their careers and giving tips for landing the “right” job. Club attendance continues to be strong with 30-40 students attending each meeting.
Spring semester Club speakers will include the director of the Colorado Division of Real Estate and a panel on the business of cannabis in Colorado and how it affects real estate plus two more construction tours.Student Treks
In early November, sophomores interested in real estate and upper classmen in the Real Estate Certificate program went on a local Trek to visit Cherry Creek North developments in Denver. The day started by watching the CU team compete at DU at the Sherm Miller Real Estate Case Competition involving teams of undergraduate real estate students at CU, DU and CSU. From there the “trekkers” went to lunch the new Halycon Hotel in Cherry Creek North courtesy of Alpine Bank and then walked around blocks of new developmentc in this formerly mom-and-pop retail area. The excellent tour was conducted by staff with BMC Investments.Upcoming Co-Curricular Opportunites
Upcoming opportunities for undergraduates include a 6-week ARGUS course, a LEED Green Associate Exam Prep workshop, symposium speakers and special lunch events with CREW and other engaged real estate professionals.
A team of Leeds undergraduate real estate students competed last Friday in the third annual Sherman Miller Real Estate Competition hosted by the University of Denver. The event pits teams of undergraduate teams from CU, CSU and DU in a battle for in-state undergrad real estate program bragging rights and a first place cash prize of $1,500. With its win Friday, CU has won the competition two of the three years of the event. DU placed a very close second, with CSU placing third.
The competition gives the students just five days to analyze a neighborhood shopping center investment opportunity. The teams then present their analysis including making and defending their findings and recommendations to a live panel of nine experienced industry professionals. The analysis and recommendations include market and site research, analysis, pricing, capital sources and uses, tenant leasing strategies, holding period and disposition of the investment. CU's winning team included five Leeds seniors: Anthony Levy, Lucas Michieli, William Haass, Chris Tryba and Nick Pepper (l to r).
In preparation for the competition, the students work not only with CU Real Estate Center staff and Leeds real estate faculty, and also past team members, CU Real Estate Council members and industry partners who help coach the students in their analytics as well as their speaking and presentation skills. Alumni and industry partners who worked with the team this fall include Mary Sullivan, Dalton Skach, Megan Turner, Leslie DeHaas, Brian Monahan, Josh Siegel, Bill Mark, Jeff Robinson, Paul Kluck, Leon McBroom, Ben Woolf, Danny Goldman, Peter Aweida, and Greg Fair.
"The support and involvement we have from former students and industry partners is very special and has been key to our consistent performance and success in these events." said Curtis Sears, a Leeds faculty member who volunteers his time to work with the students. "Nothing better prepares our students for their real estate careers than the opportunity to pull everything they're learning in the classroom together in a real-life context with industry professionals sharing their passion, knowledge and advice with the students in the process."
A second team of CU undergrad real estate students is headed to New York City next week for another competition: The Cornell International Real Estate Case Competition. The Cornell competition is the largest of undergraduate competitions with over twenty teams competing from not only the U.S. but Europe and Asia as well. This is the first time CU has sent a team to the Cornell competition and it will be a big challenge for our undergrads. Stay tuned!
Congratulations to our team for bringing the Sherman Miller Real Estate Competition trophy back to CU, and best of luck to team headed to NYC for the Cornell competition next week!