Altus Group Announces Winners of the Fourth Annual ARGUS University Challenge
Altus Group Announces Winners of the Fourth Annual ARGUS University Challenge
York University Reaches Top Spot Once Again
TORONTO, ONTARIO–(Marketwired – May 22, 2013) – Altus Group Limited (TSX:AIF) (“Altus”) and ARGUS Software (“ARGUS”) today announced the winners of the fourth annual ARGUS University Challenge. The awards recognize students from leading universities who have applied their real estate knowledge to solve real world investment analysis scenarios.
For the second year in a row, York University received first place. Second place was awarded to the University of San Diego and third place went to Florida International University. The teams were judged based on their ability to prepare a model using ARGUS DCF. The winners were chosen from a group of twenty-one entries.
“We are proud of our students for winning the ARGUS University Challenge for the second time, in particular because our academic curriculum emphasizes case competitions as a way for students to maximize their learning,” said Andre Kuzmicki, Executive Director, Program in Real Estate and Infrastructure, Schulich School of Business. “The ARGUS Challenge is an amazing event because of the number of great schools that participate. We plan to be back next year.”
The teams were evaluated on their ability to complete a case study entitled Urban Regeneration: The Springfield Monorail Redevelopment. Written by Sara Wilkinson, Associate Professor, University of Technology, Sydney, this case study provided students with the challenge of considering all factors that must be taken into account when evaluating a commercial real estate investment.
“The ARGUS University Challenge was a great experience for all team members not only to get familiar with the software but also to see its application for decision making,” said Hosup Lee, MBA 2013, CFA candidate. “Going into the competition, the team was certainly motivated to do our best given Schulich team’s performance last year, and we are proud to defend the title. The classes provided in Schulich’s Program in Real Estate and Infrastructure prepared us well to tackle the development case from multiple angles, and it was a great opportunity to use what we learned outside the class setting.”
The winners were selected by a judging panel consisting of leading industry experts including: Ryan Bernard, Corelogic; Vanessa Egan, CBRE; Jeff Fisher, Homer Hoyt Institute and Edward Galka, Altus Group.
“For the past four years, our University Challenge has given students the opportunity to solve real issues in a fun and competitive way,” said Lynn Clarke, Vice President of Client Services, ARGUS Software. “Our goal with this Challenge, and with our university programs, is to prepare the next generation of real estate professionals with the tools and skills to solve the issues that they will face in their real estate careers.”
The next ARGUS University Challenge will utilize the most up to date valuation and asset management tool, ARGUS Enterprise. “Staying with our mission to educate using the latest in technology, we will offer ARGUS Enterprise as the platform of choice for university programs,” said Lynn Clarke.
A complete listing of the winners of the 2013 ARGUS University Challenge:
|First Place: York University|
|Academic Sponsor: Andre Kuzmicki|
|Team Members: Christina Giannone, Simon La, Hosup Lee, David Lyons and Phil Ristevski|
|Second Place: University of San Diego|
|Academic Sponsor: Charles Tu|
|Team Members: Matt Bean, Evan Lippow, Anthony Ly, Nick Norris and Ari Weinstein|
|Third Place: Florida International University|
|Academic Sponsor: George Wu|
|Team Members: Adam Dahari, Kevin Gibbons, William Lee, Juan Morales and Zavier Moreno|
Honourable mentions were given to Covenant University from Nigeria, and NYU. Altus Group recognizes all of the teams that participated in the 2013 ARGUS University Challenge and thanks them for their effort and hard work.
About ARGUS Software
ARGUS Software is the leading provider of software and solutions for analyzing and managing the value of real estate investments worldwide. ARGUS Software has a Global client base, consisting of over 90,000 users, and has been dedicated to providing solutions to the commercial real estate industry for over 25 years. The ARGUS Software portfolio includes industry-standard products, including ARGUS Enterprise, the most open and integrated platform for valuation, budgeting and asset management solutions.
About Altus Group Limited
Altus leads the global real estate industry in offering professional real estate advisory services, data solutions and intelligence about an organization’s assets, generating a wealth of knowledge and insight. With a staff of over 1,700, Altus has a network of over 50 offices in a number of countries worldwide, including Canada, the United Kingdom, the United States, Australia and China. We operate five interrelated Business Units, bringing years of experience and a broad range of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Property Tax, Geomatics and ARGUS Software. Altus’ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
Certain information in this press release may constitute “forward-looking information” within the meaning of applicable securities legislation. Generally, forward-looking information can be identified by use of words such as “may”, “will”, “expect”, “believe”, “plan”, “would”, “could” and other similar terminology. Inherent in the forward-looking information are known and unknown risks, uncertainties and other factors which could cause actual results, performance or achievements of Altus, or industry results, to differ materially from any results, performance or achievements expressed or implied by such forward-looking information. Those risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information include: general state of the economy; competition in the industry; ability to attract and retain professionals; integration of acquisitions; dependence on oil and gas sector; dependence on Canadian multi-residential market; customer concentration; currency risk; interest rate risk; reliance on larger software transactions with longer and less predictable sales cycles; success of new product introductions; ability to respond to technological change and develop products on a timely basis; ability to maintain profitability and manage growth; revenue and cash flow volatility; credit risk; protection of intellectual property or defending against claims of intellectual property rights of others; weather; fixed-price and contingency engagements; operating risks; performance of obligations/maintenance of client satisfaction; appraisal mandates; legislative and regulatory changes; risk of future legal proceedings; insurance limits; income tax matters; ability to meet solvency requirements to pay dividends; leverage and restrictive covenants; unpredictability and volatility of common share price; capital investment; and issuance of additional common shares diluting existing shareholders’ interests, as well as those described in Altus’ publicly filed documents, including the Annual Information Form (which are available on SEDAR at www.sedar.com). Given these risks, uncertainties and other factors, investors should not place undue reliance on forward-looking information as a prediction of actual results. The forward-looking information reflects Altus’ and management’s current expectations and beliefs regarding future events and operating performance and is based on information currently available to management. Although Altus has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information contained herein, there are other factors that could cause results not to be as anticipated, estimated or intended. The forward-looking information contained herein is current as of the date of this press release and, except as required under applicable law, Altus does not undertake to update or revise it to reflect new events or circumstances. Additionally, Altus undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus, its financial or operating results, or its securities.
Camilla BartosiewiczBartosiewiczVice President, Investor Relations
Last updated on August 28th, 2019 at 09:46 am