Recognizing the importance of developing and investing in the next generation of Real Estate talent and leadership, Berkadia and NYU Stern partnered to create an opportunity for students at the top business schools across the country to work with multifamily industry leaders to tackle the most pressing challenges facing the commercial real estate industry today. During the inaugural Multifamily Investment Case Competition, held from November 14-16 at New York University Stern School of Business, teams of students addressed the nation’s Affordable Housing Crisis.
©Creighton; Courtesy NYU Photo Bureau
As an introduction to housing affordability, student teams from Columbia Business School, UCLA Anderson School of Management, the University of Florida, The Wharton School of the University of Pennsylvania, the University of Wisconsin, and New York University Stern School of Business heard from David Leopold, Senior Vice President and Head of Affordable Housing at Berkadia; Bob Hart, President & CEO of TruAmerica Multifamily; Mark Willis, PhD, Senior Fellow at the NYU Furman Center; and Sharon Wilson Géno, President of the National Multifamily Housing Council. Students were given an overview of today’s challenges as they relate to housing affordability, and the solutions being deployed across different states and municipalities today.
During the in-person case competition, teams were asked to present a comprehensive investment strategy and pitch for a workforce housing fund tailored to the needs of middle-income renters, and creative solutions to address the nation’s Affordable Housing Crisis.
The winning strategy went to the University of Florida for their Gator Capital Workforce Housing Hybrid Fund I. The team proposed a scalable financial model, beginning with a pilot fund in Florida, a market they know well. Additionally, the judges were impressed not only by their strategy but also by their polished presentation, as they answered questions confidently and thoroughly. The second-place strategy was awarded to the University of Wisconsin, and the third place was awarded to the University of California, Los Angeles.
At the competition itself, the esteemed panel of judges, who are each themselves experts in the field of affordable housing, shared feedback, practical insights and guidance for each of the student proposals as a way of bridging the creativity of student proposals with practical outcomes that are being implemented in the affordable housing space today.
The judges included Greg Bates, President & CEO of GID; Stella Pappas, Head of Investor Relations for TruAmerica Multifamily; Sharon Wilson Geno, President of National Multifamily Housing Council; Rachel Diller, Senior Managing Director and Chief Investment Officer at Bridge Workforce & Affordable Housing; Dillon Lorda, Director and Portfolio Manager at AEW; Kalin Bracken, Manager at the World Economic Forum; and Mary Ann King, Co-Head of Institutional Investment Sales at Berkadia.
The inaugural Multifamily Investment Case Competition showcased the innovative thinking and strategic insight of the next generation of real estate professionals. We look forward to continuing our partnership with NYU Stern and enhancing the competition in the future, further fostering the development of emerging talent and leadership in the real estate industry.