Real estate students compete in REIAC/Rockefeller Group Challenge

Business News | 26 Apr |

Last year’s REIAC/Rockefeller Group Challenge was one of the closest finishes in the 5-year history of the event. What will this year’s teams bring to the table?

Find out May 2 at Arizona Country Club, 5668 E. Orange Blossom Lane in Phoenix, when teams consisting of graduating students from Arizona State University’s W. P. Carey School of Business, Masters of Real Estate Development (MRED) program compete for cash prizes of $1,000 per team member.

This year’s 3rd Synthesis is the ASU Novus Innovation District.

Last year, Copperstate Development captured the top honor among three teams, garnering $1,000 each for Robby Leonard, Cody Wolfe, Josh Rodriguez, and Mohammed Almehaidib. Last year’s project was the 148-acre Arizona State University Thunderbird School of Global Management campus in Glendale that is moving to downtown Phoenix.

The event is open to the public. Cost is $35 for non-REIAC members and $25 for students. Registration and networking begin at 4:30 p.m., followed by the program at 5 p.m. A networking mixer begins at 6 p.m. It includes hosted beverages and appetizers.

Each team is allotted 10 minutes to present a development solution for a storied piece of Arizona commercial real estate, followed by questions from the audience. Audience members will vote to choose the winning team after the presentations, awarding each winning team member a $1,000 check at the Challenge, up to $6,000.

“If last year’s event is any indication, this year should be just as exciting,” said Mark Singerman, President of the REIAC Southwest Chapter and Vice President/Regional Director-Arizona for The Rockefeller Group, the event’s title sponsor. “I think that the cash prize is welcomed, but it’s the bragging rights from winning this competition that has changed the dynamics for the entire MRED class.”

From the start of the academic year to their final synthesis project, one of the goals for each team is to be in the top three chosen to present to the REIAC Southwest membership and the public. Participating teams field questions and comments from experienced developers and investors.

Registration for the REIAC/Rockefeller Group Challenge is required. Register at  reiacsouthwest.org/event-3244067.

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