AREA provides its members with exposure and access to real estate through several educational, experiential, and networking programs.
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. Under the alias of “Tower Properties,” the team of Rob Banovac, Jon Grobe, Phil Semon, and Sean Sullivan brought home 2nd place out of a field of the nation’s leading real estate programs. This year’s case centered around 600 acres of developable land due south of the Disney resort and theme park in Orlando, Florida. The site faced several challenges including significant wetlands protection issues, a restrictive local development plan, and concerns of cannibalization from Disney’s existing resorts and attractions. The case required the team to structure a joint venture with Disney (the landowner) and create a “New Urban” development program to appeal to both resort-goers and local residents. The judges praised UCLA’s creative yet realistic plan which included a new outdoors concept store/park, a high-tech learning campus, and a mixed-use retail village. In the final round, UCLA beat out Duke’s Fuqua School of Business and Columbia Business School, while narrowly losing the final vote 6-4 to UNC’s Kenan-Flagler Business School. This marks the third time in six years that Anderson has taken 2nd place at the UNC Real Estate Challenge.