Welcome to the ARGUS University Challenge


Each year ARGUS offers a “University Challenge” with dozens of universities from all over the world participating. Teams of aspiring real estate professionals, sponsored by a participating professor, are challenged to present a paper with the best investment analysis and conclusion for a fictitious real estate opportunity. Cash prizes are given to the top four teams. Our next University Challenge starts this Spring Semester. If you are interested in participating in the next ARGUS University Challenge, please visit our registration tab.

The 2018 University Challenge Author

Since 2009, M. Christopher Meitzen, MAI, SRA has been the Principal of Meitzen, LLC Commercial Real Estate Valuation. Additionally, Mr. Meitzen is the current adjunct professor of Valuation in the Master of Real Estate (MRE) program in Mays Business School at Texas A&M University in College Station, Texas. A proud Aggie and himself an alum of the MRE program, Chris earned a BBA in Finance in May 2000, and then a Master’s Degree in Land Economics & Real Estate in December 2001 – both from Texas A&M. While a student at Texas A&M, Chris worked for three years under Dr. Mark G. Dotzour, now-Retired Chief Economist of the Real Estate Center at Texas A&M. While an Assistant Vice President at C.B. Richard Ellis in San Diego, Chris earned the prestigious MAI designation through the Appraisal Institute in 2007, and earned ARGUS Enterprise Software Certification in 2017. Continuing to commute and conduct business between Houston and College Station, Chris lives between the two cities, with his lovely wife Gracie in quiet Navasota, Texas.


M. Christopher Meitzen, MAI, SRA

ARGUS University Challenge 

The Case

This year's case will be based on the city ARGUS calls home - Houston! It will be a 5-10 page, property level sale and investment analysis, using three scenarios to project the risk/return on each scenario. Teams are presented with a fictitious retail property, the Bayou City Shoppes. Just as the owner, Mr. Rane, is getting ready to sell this property, an on-site water main ruptured and caused considerable damage. It will be up to our teams to help Mr. Rane choose one of the three scenarios that will leave him with the most cash in his pocket at closing. We are excited to have the level of competition in this year’s challenge and wish all the teams the best of luck!

University Case Cover 2018.png
Download the Case

The Judges

Gary Brown
Altus Group Advisory

Arthur Nelson
V.P. Global Forecasting and Valuations
Business Solutions

Prologis, Inc.

Kevin Sweeney
V.P. of Valutions
Prologis, Inc.
Tamara Sexton
Valuation and Operations Manager
W.P. Carey, Inc.
Michael Syrengelas
Managing Director - Financial Consulting Group

You are invited to participate in
the ARGUS University Challenge

This unique challenge gives students the opportunity to participate in a powerful and compelling competition to enhance their knowledge of ARGUS Enterprise to aspiring real estate professionals. The competition includes simulating a real-life investment analysis of a commercial real estate property by modeling the provided assumptions in ARGUS Enterprise and creating a paper describing the outcome of the analysis. We have invited an elite group of highly ranked universities to participate in the Challenge. The rules of engagements are outlined below. Good luck!

Rules of Engagement

    1. 1. Each university may enter one team of 3 – 5 team members. Each team member must be currently enrolled at their university. Submit team member names and e-mail addresses on our University Challenge site by Friday, January 26, 2018.  Final team members may not change after this date.
    2. Each team must have a chosen faculty member of the university functioning as the advisor. The role of the faculty member is to confirm current enrollment of each team member and offer guidance prior to the distribution of the assignment.  Please note that all work for the Challenge must be completed by team members.
    3. Faculty, students, alumni, industry professionals and/or anyone outside the core team is not allowed to assist with the case.
    4. The challenge will be available on the University Challenge website by February 9, 2018. The assignment includes preparing models using ARGUS Enterprise in addition to submitting a paper explaining the results of the analysis. An ARGUS Enterprise 90-day academic license will be emailed to each participant to be used during the Challenge.
    5. Teams are to submit their cases by emailing them to They will need to submit the ARGUS file/files and paper by March 26, 2018.
    6. Students will compete for scholarship awards totaling $22,000 and a chance to attend our 2018 ARGUS Connect Conference where your team will receive the University Challenge trophy in front of leaders of the CRE industry.
      1. 1st prize winner receives $12,000 and free admission to our 2018 Connect Conference which will be held April 25th-27th
      2. 2nd prize winner receives $6,000
      3. 3rd prize winner receives $3,000
      4. Honorable mention winner receives $1000
  1. A panel of judges from the academic community and industry will participate in reviewing the case studies and nominating the winners. Winners will be announced April 9, 2018.
  2. Announcement of the winners of this competition will be announced and published on ARGUS Software’s website in addition to their newsletter.
  3. Winners’ submissions will also be posted on the University Challenge website.
  4. Participants’ names, pictures, and school logos may also be published on the website.
  5. If you have questions pertaining to this Challenge please contact an ARGUS representative at or log onto the ARGUS Community

Thank you for your participation in our program!

The 2018 Winners

1st Place: Cornell University - Cornell Baker Program in Real Estate

Cornell University.png

Professor: Crocker Liu, PhD

  • Paul Heydweiller
  • Peter Romano
  • Laura Curi de Mattos

2nd Place: University of San Diego - Burnham-Moores Center for Real Estate


Professor: Charles Tu, PhD

  • Seth Kamphoefner
  • Derek Martin
  • David Neinchel
  • Rachel Kreamer
  • Christian Holbrook

3rd Place: The University of Chicago Booth School of Business


Professor: Joseph Pagliari, PhD

  • Julie Zeng
  • Ryan Lovell
  • Ron Hui
  • Arvin Taneja
  • Kyle Smith

Honorable Mention: Auburn University - Master of Real Estate Development


Professor: Josh Kahr

  • Bill Swymer
  • Zac Restad
  • Hans Johnson
  • Kathryn Matrangola

 Past Winners


2017 Winners

1st Place

2nd PlaceCornell.png

3rd PlaceLSU.jpg

Honorable MentionFIU.jpg


2016 Winners

1st Place

2nd PlaceMIT.jpg

3rd PlaceLSU.jpg

Honorable MentionFIU.jpgYork.jpg

2015 Winners

1st PlaceUniversityofSanDiego.jpg


2nd PlaceUofNewBrunswick.jpg

3rd PlaceFIU.jpg

Honorable Mention


2014 Winners


1st PlaceUniversityofSanDiego.jpg

2nd PlaceUPenn.jpg

3rd PlaceYork.jpg

Honorable MentionCovenant.jpg

2013 Winners


1st PlaceYork.jpg

2nd PlacUniversityofSanDiego.jpg

3rd PlaceFIU.jpg

Honorable MentionNYU.jpgCovenant.jpg

2012 Winners


1st PlaceYork.jpg

2nd PlaceUniversityofSanDiego.jpg

3rd PlaceNYU.jpg

Honorable MentionCovenant.jpg

2011 Winners


1st PlaceUniversityofSanDiego.jpg


2nd PlaceEmory.jpg

3rd PlaceUNC.jpg