University of Chicago Wins 2016 Real Confidence University Challenge

The University of Chicago Booth School of Business has been named winner of the 2016 Real Confidence™ University Challenge, a year-long competition that ended in June.

Sponsored by NAREIT, Altus Group and the National Council of Real Estate Investment Fiduciaries (NCREIF), the competition featured 32 university teams attempting to invest $1 billion in a variety of commercial real estate selections within the public and private equity and debt sectors.

The University of Chicago student team managed the best portfolio with a return of 23.6 percent over four quarters and won the $30,000 grand prize. The University of San Diego team took second place with a return of 18.8 percent, followed by the Utah State University team in third place with an 18.3 percent return.

The University of Chicago’s winning strategy focused on listed Mortgage REITs, splitting the allocation between commercial financing and home financing.

“The Real Confidence University Challenge helps students understand the benefits that REITs and other real estate investments bring to investment portfolios, in terms of increasing returns and reducing risk,” said Steve Wechsler, NAREIT president and CEO.


(Contact: Mike Grupe at

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