Release Date: Tuesday, April 3, 2001

TERRY COLLEGE MBA STUDENTS BEAT FOUR IN-STATE RIVALS TO WIN REAL ESTATE CASE COMPETITION IN ATLANTA

ATHENS, Ga. — A team of MBA students from the Terry College of Business at the University of Georgia won state bragging rights and $5,000 in scholarship money after taking first place in a real estate case competition against four rival universities.

The team of five students from the Terry College made the best written and oral presentation to win the ninth annual School Challenge, sponsored by the Georgia chapter of the National Association of Industrial and Office Properties (NAIOP) last Thursday in Atlanta.

In addition to UGA, teams from Emory University, Georgia State University, Georgia Tech and Kennesaw State University were given the same scenario: Fictitious real estate investor George Martin is interested in purchasing the former Atlantic Envelope property located along Atlanta's Northside Drive corridor. He is seeking advice on the most effective way to utilize the property: Should he convert it to high-tech office space, build a new building, redevelop it, or lease the building as is?

The UGA team recommended converting the property to a mixed-use residential and retail development. The team supported their recommendations with an in-depth research report and proposal that put them in the lead after the written portion of the competition. Their oral presentation allowed them to edge past the Georgia State team for a narrow victory.

"The process of solving this complex case and proposing our recommendations is precisely the type of learning experience that will prepare us for our careers in the real estate profession," said MBA team member Charles Sakura.

Teammate Johnny Johnson said the high point for him was "being able to represent the Terry MBA program so well in front of Atlanta's commercial real estate community."

"This wasn't just a real estate case," Johnson said. "There were marketing, financial, economic, communication and research disciplines involved. Considering the level of competition we faced, our success confirms the quality of students in the MBA program."

UGA last won the NAIOP School Challenge in 1998, and this year's team was determined to recapture the coveted trophy - a chrome-plated shovel engraved with each year's winner.

"We went into the competition with the goal of doing the best that we could in the six weeks allotted to work on the case and with the ultimate goal of winning the challenge and bringing the title back to UGA," said team member Natalie Rogers.

Real estate professor David Downs, the team's faculty advisor, and professional advisor Greg Haynes, a UGA graduate who works in Atlanta with CB Richard Ellis, shared coaching responsibilities for the team. The team members are John Blackwelder of Atlanta, Johnny Johnson of Oklahoma City, Okla., Natalie Rogers of Naperville, Ill., Charles Sakura of Nashville, Tenn., and Maranda Walker of Wichita, Kan.

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