The first year MBA real estate concentrators completed a real estate financial modeling class led by Scott Coblentz (MBA ’11). Scott worked in Bank of America’s investment banking group prior to graduate school and after receiving his MBA, he worked for multi-family developer Crescent Communities. In his latest role, Scott has assumed a director role for a developer and investment manager out of Charlotte, Princeton Communities.
The financial modeling class was taught using a case format, where students had the opportunity to build full models for value add, development, and joint venture projects. Throughout each case study, there was a premium put on best practices to create flexible and easily understandable models. This focus was designed to replicate the demands of today’s investors and investment committees. The most anticipated part of the day was the JV case, where students were responsible for creating waterfall return structures. The in-depth review of this subject was centered around JV operating agreements from historical deals, and the students came out with a much better understanding of preferred returns and promote structures.
The modeling session was a major success in that students picked up new skills and were afforded the opportunity to work alongside a very talented alumnus with extensive real-world modeling experience. It also speaks volumes about the UNC Kenan-Flagler real estate program that Scott gave up an entire Saturday to enhance the skill sets of current students. This type of commitment and support is just one of the reasons that UNC Kenan-Flagler’s real estate program continues to gain national awareness.
By John Duckett (MBA ’16)