Berkadia recently partnered with the Chen Institute for Global Real Estate Finance at NYU Stern School of Business for the third annual Multifamily Investment Case Competition, held October 15–16.
The competition brought together graduate student teams from leading business schools across the country to explore how technology can enhance investment returns in the multifamily sector. Participants were challenged to develop strategies at the intersection of apartment operations, technology and innovation financing — areas that do not often converge in traditional business school curricula.
“Berkadia was honored to partner with NYU Stern for the third year in a row, highlighting our commitment to supporting young professionals and future leaders in real estate,” said Justin Wheeler, Berkadia’s CEO. “Engaging with eager, thoughtful participants and judges with deep expertise in the multifamily industry was both exciting and inspiring. This event was made possible by the dedication of university teams, fellow judges and NYU’s sustained support.”
This year’s competition included teams from NYU Stern, Columbia Business School, UCLA Anderson, the University of Wisconsin–Madison’s School of Business, the University of Florida Warrington College of Business and the University of Texas at Austin McCombs School of Business.
An accomplished group of industry leaders served as judges, including Keith Harris, president of Avanath Investment & Development; Toby Bozzuto, president and CEO of The Bozzuto Group; Joanna Zabriskie, CEO of BH Management; Caleb Roope, founder, president and CEO of The Pacific Companies; Marianne Ganster, managing director and head of U.S. Asset Management at Corebridge Financial; Jenna Barclay, senior vice president of Equity Asset Management at PCCP; and Matt Bisgyer, principal at Montauk Capital.
Teams were tasked with raising and structuring a venture fund that would invest in technology companies serving multifamily stakeholders. The case offered participants a practical opportunity to evaluate how emerging technologies can help owners and operators improve efficiency, manage costs and drive long-term value.
NYU Stern School of Business took first place with a proposed $100 million multifamily technology fund designed to lower development and operating costs across a fictional company’s 95,000-unit portfolio. The team’s strategy focused on procurement automation, resident-retention analytics and predictive building systems, using phased pilots and performance-based scaling to drive recurring net operating income growth while targeting a 15.4 percent net internal rate of return and 2.32 times net multiple for investors.
The University of Florida Warrington College of Business earned second place, followed by UCLA Anderson in third place.
To learn more about career opportunities at Berkadia and explore how you can help shape the future of commercial real estate, visit Berkadia’s Careers page.
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