Knauss School of Business Real Estate Team Takes First Place in International ARGUS University Challenge
On April 23, 2024, Altus Group Limited (“Altus Group”) (TSX:AIF), a leading provider of asset and fund intelligence for commercial real estate, announced the 2024 winners of its 15th annual ARGUS University Challenge. More than 85 students from 20 universities from around the world competed for $25,000 in scholarship awards.
We are excited to announce that a team of five University of San Diego Knauss School of Business Master of Science in Real Estate (MSRE) students were awarded first place in the 2024 ARGUS University Challenge. The 2024 USD team included: Kevin Dixon ’24 (MSRE), Dillard Harvey ’24 (MSRE), ’25 (MBA), Hunter Loncar ’24 (MSRE), Grant Neeley ’24 (MSRE) and Sandis Seale ’24 (MSRE). Charles Tu, PhD, the Daniel F. Mulvihill Endowed Chair of the Real Estate Department and academic director of the MSRE program, served as the team’s faculty advisor. Read the USD team’s case study.
For this year’s challenge, the competing teams were evaluated on their ability to leverage ARGUS Enterprise to present a summary investment recommendation based on a hypothetical case study. The report was to include a summary investment recommendation to the King and the Investment Committee of the Royal State Fund, regarding Kings Courts. The report was to encompass a comprehensive analysis of the property’s performance for the next ten years, considering building, pre-letting, financing, development, and market data, along with personal assumptions using ARGUS Enterprise. The winners were selected by a judging panel consisting of leading industry experts.
“This year’s ARGUS Challenge presented a complex investment scenario in a fictional European real estate market,” says Neeley. “The Altus Group tasked our team with a 10-parcel mixed-use development opportunity with constrained equity and debt parameters. Our team was able to create a unique hold/sell scenario for certain assets along with a creative financing strategy to achieve a sizable return for this year’s judges.”
“The 2024 ARGUS University Challenge brought the best out of our team,” says Dixon. “We worked tirelessly for hours in-person and over Zoom. Our willingness to work with each other and commit fully to our parts throughout the report paid off in the end. Each team member brought a certain level of expertise.”
USD teams have done exceptionally well in this competition, taking first place on eight occasions (including 2024), second place on five occasions, third place on one occasion and an honorable mention on one occasion (view historic chart).
“I’m so proud of our students for their exceptional performance in this year’s ARGUS University Challenge, says Professor Tu. “They not only utilized the software but also applied a broad range of knowledge and skills cultivated throughout the MSRE program. Their deep understanding of real estate markets, coupled with strategic thinking and strong problem-solving abilities, truly set them apart.”
Congratulations to the other teams who placed in this competition, including the International Real Estate Business School at the University of Regensburg (second place); Cornell University (third place) and Baruch College (fourth place).
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