Students from the Blackwood Department of Real Estate once again distinguished themselves at case study competitions this spring, recording three top-four finishes at national events.

List of competitions and finishes for the Department in April:

  • 2nd place at the University Valuation Case Challenge hosted by Appraisal Institute in Nashville, TN.

  • 2nd place at the Harold E. Eisenberg Real Estate Challenge hosted by the Harold E. Eisenberg Foundation in Chicago, IL. 

  • 4th place at the Mulroy Real Estate Challenge hosted by Villanova University in Philadelphia, PA. 

“Case study competitions are among the most impactful experiential learning activities our students participate in each year,” said Department Head and Bates Family Associate Professor of Real Estate, Dustin Read, “It is wonderful to see them having so much success. It speaks to their hard work and their readiness to enter the real estate industry after graduation."

Appraisal Institute's University Valuation Case Challenge

The Appraisal Institute hosted its inaugural University Valuation Case Challenge this year. Over the course of a week, participating teams identified the highest and best use of a parcel of land assigned to them and completed a development feasibility analysis. The top 16 teams in the country were invited to Nashville to present their results. Students from the Blackwood Department of Real Estate ultimately advanced to the final four, finishing in 2nd place overall.

Collegiate Assistant Professor, Sherwood Clements, led a team consisting of seniors Jonna Berghoff, Samantha Brewer, Jack Bengel, and Paul Ruggiero. They proposed a mixed-use project in Memphis, TN consisting of 122 apartments and ground floor retail.

“Each student played a critical role in a true team effort,” said Clements. “Samantha led market analysis, one of our strongest competitive advantages. Jack demonstrated exceptional command of Memphis zoning. Jonna delivered a realistic financial outlook and showcased leadership abilities throughout the competition, and Paul contributed across multiple areas with flawless execution. I’m incredibly proud of this team.”

Villanova University’s Mulroy Real Estate Challenge

Hosted for the 17th time by Villanova University, the annual Mulroy Real Estate Challenge is one in which the Blackwood Department of Real Estate has enjoyed continued success—and this year was no different, as Virginia Tech brought home a fourth-place finish, marking its sixth time placing in the top four since joining the competition in 2019.

Led by associate professor of practice, Jonathan Everett, a team of seniors including Samantha Brewer, Sam Shaia, Emerson Bonilla and Jessica Sprouse proposed the development of a 104,284 square foot, mixed-use building in New York City and an estimated cost of $116.5 million. 

“I’m incredibly proud of what our students accomplished this year,” said Everett. “They demonstrated a remarkable ability to adapt, collaborate effectively, and perform under pressure. Once again, they showcased the strength and spirit of Virginia Tech on a national stage and left a lasting impression.”

The Harold E. Eisenberg Foundation's Real Estate Challenge

Hosted for the 16th time by the Harold E. Eisenberg Foundation, the Real Estate Challenge pitted teams from 29 universities and colleges against each other to see which could put forth the most impressive real estate development proposal on a site in Chicago. Students from the Blackwood Department of Real Estate finished in 2nd place in the undergraduate division. 

Seniors Nathan Herrick, Adrianna Mondello and Allie Richards, along with juniors Marissa Edwards and Avery Marable, pitched the competition's financial sponsor, Related Midwest, on a $737 million mixed-use district on an 8-acre parcel directly adjacent to the future stadium of the Chicago Fire Football Club . The proposal included approximately 1.5 million square feet across eight buildings, featuring 412 multifamily units, a 180-key hotel, 230,000 square feet of trophy office space, an innovation center, 165,000 square feet of curated experiential retail, and the Cosm—an immersive LED dome entertainment venue.

The three top-four finishes round out an academic year in which the Department recorded four top-four national finishes, including a second place finish at the Colvin Case Competition in December.