On February 23-24, four first-year MBA students represented UCLA-Anderson at the UNC Real Estate Challenge case competition in Chapel Hill, North Carolina, and brought home the first place award and $10,000! The 2014 Challenge Case was inspired by an alumni of the real estate program. An actual site in Hnagzhou, China, the case asked teams to make specific and detailed recommendations as if they represented a development company based in China responding to a request for development proposal. The objective for each team was to maximize a private equity fund’s return based on a strategy to develop the site as well as preserve a highly profitable transaction. Like most of our cases this one was not without its many moving parts and constraints.