Commercial Real Estate Competition
AIC's commercial real estate competition was developed with the goal of educating members on real estate valuation and investment. Teams are provided with the offering memorandums of several properties and are tasked with selecting and fully underwriting one of the investment opportunities. Teams first evaluate all qualitative aspects of the deal, including the market, submarket, property location, building condition, tenant-mix, and more. They then assess the quantitative feasibility of the deal by underwriting the investment and building a pro-forma. The top four teams present their projects to a panel of real estate professionals who judge the projects on their investment rationale, underwritten assumptions, and risk-adjusted returns.
Private Equity LBO Competition
AIC is one of the only clubs in the Ross School of Business that runs a private equity-styled Leveraged Buyout (LBO) competition. We introduce our members to financial modeling and how to identify strategic target companies, culminating in teams producing a full LBO model from scratch. Each team is given a fictional amount of $3 billion to leverage the purchase of a publicly traded company. Emphasis is placed not only on understanding all aspects of the LBO model, but also on developing creative and practical value-add strategies. After evaluating their investment rationale and model, the executive board chooses the top four teams to present to a panel of judges in the final round. Past judges have included alumni from venture capital and private equity firms.