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Jun 21, 2018
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Apr 27 2018

MBA student team from Kellogg School of Management Awarded $100,000 First Place Prize At Kellogg Real Estate Conference and Venture Competition

Plan to acquire medical real estate from physicians selling their practices to corporate consolidators


The team of MBA students at Kellogg School of Management at Northwestern University left their mark on Wednesday night at the fifth annual Kellogg School of Management Real Estate Venture Competition. The Net Medical team impressed the judges with their winning plan to acquire medical real estate assets through a modified sale-leaseback strategy by partnering with large corporate consolidators in the dental industry. The team won $100,000 in combined cash and professional services for their idea, which they will apply to bring the concept to market.

The Kellogg Real Estate Conference and Venture Competition brings together new venture ideas in real estate from such MBA programs as Kellogg School of Management at Northwestern University, Haas School of Business at University of California Berkley, Booth School of Business at the University of Chicago, Columbia Business School, Johnson School of Business at Cornell University, McDonough School of Business at Georgetown University, INSEAD, ISB, London Business School, Schack Institute of Real Estate at NYU, SAID Business School at the University of Oxford, and McCombs School of Business at the University of Texas. Preliminary competition rounds were judged by leading real estate executives and four finalists were selected, with teams from Georgetown University, the University of Oxford, Kellogg School of Management at Northwestern, and the University of Texas presenting during a winner-take-all round before an audience of more than 200 real estate professionals and students. Judges based their decisions on a variety of criteria, including quality of the presentation, feasibility, and the merits of the written plan.

“The quality of work put forth amongst the field was exceptional and we believe it’s a true reflection of the progressive and innovative nature this conference brings to the real estate industry. We received a lot of mentorship and support across the Kellogg community throughout this process, so we want to extend our team’s sincere appreciation to those that helped us make it happen” said Chase Michalek from Net Medical.

The Venture Competition highlights the Kellogg Real Estate Conference, which brings together the industry in thought leadership and collaboration. This year featured panel discussions on capital markets, featuring Steve Livaditis, Managing Director at Eastdil Secured; Pamela Boneham, Managing Director at Barings; Michael Lascher, Managing Director at Blackstone and Dan Rosenbloom, Managing Director at Cadre. Discussions that followed panel surrounded the innovation of real estate technologies such as block chain, artificial intelligence and data centers by Robert McDonald, Professor at Kellogg School of Management, Elliott Burris, Founder and Chief Executive Officer at Dynasty.com and Scott Peterson, Chief Investments Officer at Digital Realty Corporation.

The conference concluded with a fireside chat with Peter Baccile, Chief Executive Officer at First Industrial Real Estate Trust, and Bruce Cohen, Chief Executive Officer at Wrightwood Financial, on trends in the industrial real estate market.

The final presentations of the Venture Competition capped the event as the distinguished panel of judges –Pamela Herbst, Managing Director at AEW Capital Management, Esko Korhonen, Founder and Managing Partner at Federal Capital Partners and Barry Malkin, Senior Managing Director at GEM Realty Capital– heard presentations from the four finalist teams.

To learn more about the 2019 Kellogg Real Estate Conference and Venture Competition, contact Denise Akason at d-akason@kellogg-northwestern.edu.

About the Kellogg Real Estate Conference and Venture Competition

The Kellogg Real Estate Conference and Venture Competition is hosted by the Guthrie Center for Real Estate Research and the Kellogg Innovation and Entrepreneurship Initiative. The Conference will provide industry and research updates and relevant market information. The Venture Competition showcases MBA students, who have the opportunity to pitch to a high-profile panel of judges. The winning team not only receives $100,000 in cash and prizes, but also the opportunity to potentially secure as much as $10,000,000 in equity funding. The primary purpose of the competition is to encourage entrepreneurial real estate ventures. The event also serves as an opportunity to promote top student talent before prominent industry professionals.


Attached Photo Caption: The Kellogg School of Management winning team for the 2018 Kellogg Real Estate Venture Competition celebrates $100,000 prize. From left: Heath Townsend, Jacob Rosenberg, Leroy Howard II, Chase Michalek, Anthony Cardona, James Bulsiewicz

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