Old State Realty
Case Competitions
Old State Realty actively participates in real estate case competitions across the country, giving members the opportunity to apply their classroom knowledge to real-world scenarios. Through analyzing complex deals, crafting investment strategies, and presenting to industry professionals, our teams gain hands-on experience in underwriting, market research, and development planning. These competitions not only sharpen our analytical and presentation skills but also prepare us for careers in real estate.
ICSC Las Vegas
Alamo Plaza
Old State Realty achieved first place at the ICSC Las Vegas case competition, tackling a challenging assignment based on a struggling retail center in Alamo, California. Members performed in-depth underwriting, repositioning analysis, and crafted actionable investment strategies—demonstrating not only technical expertise but also competitive rigor on a national stage.
Boston College 2025
Westgate Development
Old State Realty earned fourth place at the Boston College Real Estate Case Competition, where students were challenged to design an affordable housing development in Jacksonville, Florida. Our team conducted market research, financial modeling, and proposed a community-focused plan that balanced feasibility with impact.
Villanova University 2025
Hideaway Development
Old State Realty advanced to the second round of the Villanova Real Estate Case Competition, which focused on a mixed-use development opportunity in Philadelphia. The team evaluated zoning, financial feasibility, and community impact to craft a compelling development strategy.
Steve Bisbee Case Competition
Old State Realty Internal
Old State Realty competes in its own internal case competition held in honor of Steve Bisbee, a dedicated mentor to the organization. This competition allows members to apply their skills in underwriting, valuation, and development strategy while honoring Steve’s legacy of guidance, professionalism, and commitment to student growth.
Villanova University 2023
ON Development
A team of four Penn State Smeal College of Business students earned fourth place at the 2023 Villanova Mulroy Real Estate Challenge, hosted by the Villanova School of Business. The case centered around a mixed-use development opportunity in Philadelphia, requiring teams to evaluate market demand, propose a viable capital structure, and present an investment strategy to a panel of industry professionals.
Boston College 2022
LEAH Development
A team of four Penn State Smeal College of Business students teamed up to win the fourth annual Boston College 2022 Corcoran Center Case Competition held by the Boston College. The case was based on a real-world development project in Madison, which is contending with a significant shortage of affordable housing triggered in large part by large numbers of college students and various employers
Villanova University 2022
SKB Development
A team of four Penn State Smeal College of Business undergraduate students combined to earn second place in the 13th Annual Mulroy Real Estate Challenge, a national real-estate-development case competition. The case assignment involved a 162 ground-up development site in Tampa, FL. Students were assigned the task of creating and pitching a mixed-use development plan, market analysis, and financing plan to judges from the commercial real estate industry.
Villanova University 2021
Bridgeview Capital
A team of four Penn State Smeal College of Business students placed third at the 2021 Villanova Mulroy Real Estate Challenge, held in Philadelphia. Their project involved planning a dual-site development: one parcel designated for a mixed‑use complex, while the other was reimagined as a community park to enhance neighborhood livability.
Villanova 2019
The Gladstone Group
A team of four Penn State Smeal College of Business students won the 2019 Villanova Mulroy Real Estate Challenge, earning top honors for their innovative proposal on the Market Street Pier (Penn’s Landing) in Philadelphia. The competition tasked teams with developing a six‑acre, mixed‑use project, covering aspects from market analysis to financing.
University of Maryland
The Fraser Centre
A team of three undergraduate students from the Penn State Smeal College of Business combined to take first place in the 2018 Colvin Case Study Challenge, a national intercollegiate real estate competition hosted by the University of Maryland’s Colvin Institute of Real Estate Development. This case was focused on a recent development in your metropolitan area, this team focused on the Fraser Centre in down town State College.
