November 19, 2010
UCLA Anderson Team Defeats USC in Annual NAIOP Real Estate Challenge
Team developed a plan for a 2.46 acre site at the heart of Bunker Hill
Los Angeles -- Beating out cross-town rival USC, a team of students from UCLA Anderson and UCLA School of the Arts and Architecture, including Mike Marsch (MBA '11), Todd Holman (JD/MBA '12), Mark Cruz ('11), Adam Perry (MBA '11), and Brad Rosenblat (MBA '11), won the Silver Shovel award last night at the 2010 NAIOP Real Estate Challenge held at UCLA's Covel Commons. The annual event is presented by the National Association of Industrial and Office Properties (NAIOP). By posing a specific real estate case challenge to each team, the competition showcases the talents and creativity of the next generation of real estate leaders. UCLA triumphantly reclaimed its title after USC's win last year.
"I am extremely proud of our NAIOP Challenge team, and I would especially like to thank Professor Paul Habibi for tirelessly serving as the team's advisor," said Tim Kawahara, Executive Director of the Richard S. Ziman Center for Real Estate. "They worked extremely hard on this case competition and dedicated themselves fully to this prestigious educational program. We are so proud of their accomplishments and so pleased that UCLA Anderson will be home to the Silver Shovel."
This year, the two teams were given the 2010 Real Estate Challenge question as part of a presentation by Donald Spivack and Dennis Hance of the Community Redevelopment Agency of the City of Los Angeles. The challenge focused on a 2.46 acre site at the heart of Bunker Hill adjacent to the historic Angel's Flight Railway. The site sits between two separate and distinct Downtown districts: the historic core including the Grand Central Market and the modern office, retail, and cultural Cal Plaza. The teams were challenged to create and present the best idea for redevelopment of the site. The UCLA Anderson team proposed The Landing at Angels Flight, a market-appropriate and integrative mixed use development. The project is intended to meet existing demand for mixed income rental apartments while meeting future demand for modern hotel product and attractive retail, with transit options and civic uses to complement the area.
"This team simply outhustled the opponent," said Paul Habibi, UCLA Anderson lecturer and team advisor. "They walked every comp, considered every financing source, sensitized around every risk, and interviewed over 100 people - some of them twice. No stone was left unturned, because losing wasn't an option. I'm extremely proud of their commitment to our program and to each other."
In its thirteenth year, the NAIOP USC vs. UCLA Real Estate Challenge celebrates the rivalry between the two schools, but more importantly, the competition draws attention to the robust real estate programs at both USC and UCLA, and the next generation of real estate talent. The winning team is awarded the Silver Shovel, a silver shovel inscribed with all past winners, and a $5000 cash prize.
About UCLA Ziman Center for Real Estate
The Richard S. Ziman Center for Real Estate, a joint center of the UCLA Anderson School of Management and the UCLA School of Law, was formed with a mandate to create and administer UCLA's activities surrounding the topic of real estate. The mission of the Center is to advance thought leadership in the field of real estate by generating influential research, educating the next generation of leaders, and providing meaningful forums for industry professionals and policymakers. Through its various programs and activities, the Center employs a multidisciplinary and global approach to addressing the most critical real estate challenges facing our society today and in the future.
About UCLA Anderson School of Management
UCLA Anderson School of Management, established in 1935, is regarded among the leading business schools in the world. UCLA Anderson faculty members are renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides management education to more than 1,800 students enrolled in MBA, Fully-Employed MBA, Executive MBA, UCLA-NUS Global Executive MBA, Master of Financial Engineering, and doctoral programs, and to more than 2,000 professional managers through executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a world-wide network of 36,000 alumni, UCLA Anderson develops and prepares global leaders.
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