UM Team Takes First Place in Real Estate Impact Investing Competition

UM Team Takes First Place in Real Estate Impact Investing Competition

Finance Professors Andrea Heuson (left) and Toby Muhlhofer (extreme right), with Brandon Sultanik (UMSBA) , Erin Sutherland (U-SoA / MRED+U) and Karl Thomson (UMSBA).
By UM News

Finance Professors Andrea Heuson (left) and Toby Muhlhofer (extreme right), with Brandon Sultanik (UMSBA) , Erin Sutherland (U-SoA / MRED+U) and Karl Thomson (UMSBA).

UM Team Takes First Place in Real Estate Impact Investing Competition

By UM News
U-SoA's Erin Sutherland was part of the 1st place team.

A team of University of Miami students took first place in the School of Business’ second annual Impact Investing in Commercial Real Estate competition.  Brandon Sultanik, MBA ’18, Karl Thomson, MBA ’17, and Erin Sutherland, a graduate student in the School of Architecture captured the $12,500 award for their innovative NoBe Town Center project for north Miami Beach.

“All four finalist teams gave excellent presentations, including innovative approaches to public-private financing,” said Andrea Heuson, professor of finance, adding that a Cornell University team took the $7,500 second-place award, a Rutgers University team received the $5,000 third-place award and a New York University team took fourth place.

Heuson organized the case study competition, which concluded on April 6 with the judging followed by a reception at the Conrad Miami for participants and members of the Real Estate Advisory Board, which sponsored the competition.  “Impact investing to improve communities, as well as deliver financial returns, is a vital issue in commercial real estate, and we look forward to another exciting competition next year,” she said.

The judges were three experienced real estate professionals: Ryan Bandy, vice president, Clarion Partners in Dallas; Katarzyna Pozniak, chief judge, investment analyst for PGIM Real Estate in New York; and Marcelo Kingston, managing director, Multiplan, a Brazilian retail real estate company.

The UM team presented “NoBe: A Sustainable and Resilient Plan for North Beach,” a $280 million five-block pedestrian-friendly town center with four residential towers, office and retail space, and a central plaza with a 50,000-square-foot community center. Of the 476 apartment units, 96 would be leased at below-market rates for lower-income North Beach residents.

To address the threat of rising sea levels, NoBe Town Center would be built on three-story plinths with flexible retail and parking space on the first and second floors that could be adapted to changing environmental conditions.  NoBe will aim to achieve LEED Gold rating, incorporate a “green” roof, and a small solar panel roof area for heating and electricity, as well as energy-efficient interior system features.

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