Real Estate Independent Study

3 Credits · Level: Graduate

MPRE 901-01 is an Independent Study course consisting of a small team of students competing in the annual Capital Challenge Intercollegiate Real Estate Case Competition sponsored by Maryland/DC NAIOP. The Capital Challenge consists of a case study competition of a challenging development or redevelopment site within suburban Maryland or Washington, DC. The MPS-RE student team will compete against teams of graduate students from Johns Hopkins University, The University of Maryland, American University and George Mason University. All teams are assigned the same real estate case study and are provided essential information and assumptions about the project. Teams formulate a proposed investment strategy and develop a comprehensive analysis and recommendation of how to maximize the potential of the property from both a quantitative and qualitative standpoint. The Capital Challenge uniquely examines a “real life” case study and assigns each school a team of consultant sponsors from supporting disciplines to help them develop their solution. The winning school is awarded a Grand Prize Scholarship. In 2019, Georgetown won the competition and our team received a $10,000 prize for their proposal to redevelop the former Fannie Mae HQ, now part of Roadside's City Ridge development. Previous Challenges have examined W.C. Smith’s Riverfront Portfolio, First Potomac Realty Trust’s Greyhound Bus site (also won by Georgetown University’s team!), Akridge’s Buzzard Point, and a JBG-sponsored site in NoMa. The case preparation will begin at our kick-off in early January and culminate with a presentation event in April at which the winning team will be announced. The Capital Challenge is an exceptional and unique opportunity for team members to work with the leading developers and consultants in our industry. The Challenge also provides students with exposure to real world real estate development problem-solving, meaningful interaction with seasoned industry professionals, and the excitement of intercollegiate academic competition. The team is limited to 6 or 7 members, and students who wish to take MPRE 901 should approach the NAIOP challenge faculty advisor as early as possible to get permission to register for this course. This challenge is as close as you can get to an actual development project in an academic environment. Students are responsible for all the concept, programming, design, feasibility, and investment value decisions for an actual multi-million dollar development project. The team meets for 3 to 6 hours per week and each team member has significant additional work for his or her section of the presentation. Students should only volunteer for this team if they are certain they can meet the time requirements and compressed schedule challenges this competition demands. The upside benefits are unmatched experience in the development process and the exposure to the top leaders of the Washington development industry. A student may only take MPRE 901 once.