The Jerry S. Rawls College of Business hosted the 2026 Real Estate & Banking Case Competition, bringing students face-to-face with the realities of commercial real estate at the intersection of analysis, creativity, and communication. The competition simulated a real-world real estate redevelopment process, and the winning team earned the top prize of $1,000 per member.
Centered on the redevelopment of 1102 Broadway in downtown Lubbock, Texas, student teams were tasked with delivering a full investment package, designed to appeal to both equity investors and commercial lenders, to a panel of judges. Bracket winners advanced to live finals where a secret-ballot audience vote determined the overall winner.
This year also included a new dimension: the addition of a $250 “Most Creative” award in each bracket. Introduced and selected by the 1102 Broadway property owners, this award emphasizes that while technical precision and balancing financial rigor is critical, innovation and forward-thinking ideas remain a key component of successful development. Owners noted that if you only reward the spreadsheet, you can miss the value of creative vision.
The Case: Redeveloping 1102 Broadway
Utilizing training provided by TreppLoan and access to their platform for managing and analyzing commercial real estate loans, the students were able to ground their market research and underwriting in real data. Team investment packages covered a redevelopment concept, market support, a multi-year underwriting model, and a financeable capitalization strategy.
To keep the challenge realistic (and manageable), the case prompt included baseline parameters (including construction cost assumptions and reserve guidance), target return metrics and lender covenants, and deliverables designed to mirror what students will see in practice.
Mentorship: A Real-Life Feature
Mentor pairing is a defining feature of the experience. Each team worked alongside a City Bank commercial banking professional, creating what organizers described as a professional simulation rather than a traditional classroom exercise.
One of the students who competed, Catherine Mennemeyer, a fourth-year finance student concentrating in commercial banking, says the mentorship added a new perspective.
“Working with our mentor gave us firsthand exposure to how lenders and investors evaluate deals in practice,” Mennemeyer said. “It challenged us to think critically about our assumptions, refine our financials, and anticipate the questions we’d face – ultimately building both our analysis and our confidence.”
Mentor feedback underscored the impact. One mentor noted the competition helps students understand all the various ways there are for a project to come together, while another praised teams for their excellent independence and outstanding maturity.
The Why
Jared Harrell, J.D., director for the John and Rachel Brownlee Center for Real Estate (Brownlee Center for Real Estate) and associate professor of practice in finance, says competitions like this compress a real estate development workflow into a short timeframe, forcing students to prioritize, make assumptions, defend decisions, and communicate with professionalism.
“They have to integrate multiple perspectives (sponsor and lender), respond to feedback, and deliver a recommendation that is both creative and financeable,” Harrell said. “That’s exactly the kind of hands-on experience we aim to deliver through the Brownlee Center for Real Estate and the Excellence in Banking Program, and it only works because Lubbock’s banking and commercial real estate community continues to show up for our students.”
Joey Jeppesen, a senior finance major pursuing certificates in commercial real estate and commercial banking, who participated in the competition says it takes lessons learned in the classroom to a new level.
“The Real Estate and Banking Case Competition was a great opportunity because it forced us to take what we’ve learned in class and apply it to a real-life scenario,” Jeppesen said. “Working through the deal from both a real estate and banking perspective was extremely valuable, and I can’t recommend the experience enough to other students.”
2026 Top Teams
Undergraduate Division
- 1st: Team 2 – Caleb Cavet, Masaiyah Culmer, Nathan Jeppesen, Matthew Morales
- 2nd: Team 3 – Alex Alarcon, Will Lazar, Nahum Najera, Haley Robinson
- 3rd: Team 1 – Annalee Carver, Evan Caswell, Julian Morrow, Benjamin Petr
- Most Creative: Team 5 – Jacob Gann, Joshua Phan, Garrett Viera
Graduate Division
- 1st: Team 8 – Jake Frazier, Christian Gonzalez, Catherine Mennemeyer, Blake P.
- 2nd & Most Creative: Team 9 – Tomisin Adeogba, Ella Barrientez, Darren Chacko, Guy Nowak
- 3rd: Team 14 – Reymark Tolop Alcantara, Benjamin Dolbec, Maniha Mohsin
Overall Winner
Team 8 (Graduate Division)
Program Partners
Supporters:
- McDougal Companies
- City Bank
- Trepp Inc.
- 1102 Broadway Ownership Group
Mentors:
- Jacqueline Vega
- Bobby Florez
- Armando Avila
- Eric Sansom
- Aaron Mendoza
- Steve Lewis
- Jason A. Hahn
- Tyler Haynes
- Kolby Kimbrough
- Tony Peña
- Cory Woodward
- Bryan Reaves
- Jonathan Rose
- Jennifer Roseberry
- Russ Liner
Judges:
- Michael Byers
- Mark Groom
- John Campbell
About the Brownlee Center for Real Estate
Committed to bridging academic excellence with market-based practices, The Brownlee Center for Real Estate is preparing students for successful careers in the commercial real estate industry. The center offers a dynamic curriculum, industry mentorships, site visits, and hands-on case competitions to provide students with practical experience. A cornerstone of the center’s offerings is the Certificate in Commercial Real Estate (CREL), which equips students with specialized knowledge in real estate, investments, and finance. Through industry-recognized coursework and professional development opportunities, students gain the analytical and decision-making skills necessary for careers in brokerage, development, investment, and property management.
About the Excellence in Banking Program
This program offers finance majors the opportunity to earn a Certificate in Commercial Banking through a specialized curriculum designed to prepare them for successful careers in the banking industry. Supported by an $11 million endowment, the program provides students with comprehensive training in modern banking operations, advanced financial topics, and leadership development. Students benefit from hands-on experiences through internships, mentoring from industry professionals, and exclusive opportunities to engage with banking leaders at conferences and workshops. Through these initiatives, the program ensures its graduates are well-equipped to meet the evolving demands of the banking sector.