Key Takeaways
- • Villanova University's DAN-TOM Real Estate Student Managed Fund, established in 2018 through donations as an index within the university endowment, is described as the first commercial real estate investment fund in the nation managed by undergraduates.
- • According to the article, the fund is valued at $650,000 and co-invests as a limited partner in commercial real estate projects across the United States.
- • In the 2020–21 academic year, the fund won four pitches to its advisory committee, growing its portfolio to six properties in South Carolina, Arizona, Pennsylvania, Mississippi and Minnesota.
- • Recent additions include a senior living facility, a life sciences building and two retail outlets.
- • The fund received its first investment proceeds in the spring, and participants hope to complete at least one sale in the following year.
Summary
Villanova University's DAN-TOM Real Estate Student Managed Fund, named for donors Daniel M. DiLella and Thomas M. Mulroy, is described in a Villanova feature as the first commercial real estate investment fund in the nation managed by undergraduates. The fund was established in 2018 through donations and operates as an index within the university endowment. Students invest as limited partners in projects across the United States, and a committee of advisors, including DiLella ('73) and Mulroy ('85), votes to approve or reject student investment pitches.
Three senior fund managers, all Real Estate majors, lead a team of more than 20 student analysts and interns who research, evaluate and underwrite commercial real estate opportunities, review deal legal documents and monitor property development and management. Business Fellow Vincent Sanfilippo, an experienced investor, advises the senior managers on investment strategy throughout the year. The article names Kelsea Wong, who served as a senior manager for both semesters of 2020–21, along with Ryan Dell and Kyle Keenan in fall 2020 and Matthew Farenhem and Matthew Winschuh in spring 2021.
In 2020–21, the fund made four successful pitches and expanded its portfolio to six properties in South Carolina, Arizona, Pennsylvania, Mississippi and Minnesota. Recent additions include a senior living facility, a life sciences building and two retail outlets. Wong said the team made its first investment as senior managers in November, pitching over Zoom from three locations, and that the remaining three deals came together over the course of the year.
The fund received its first investment proceeds in the spring. Participants hope to achieve at least one sale in the coming year, which the article characterizes as the quantitative measure of success. Ryan Dell described the qualitative benefits, saying the experience gave him leadership skills and fundamental knowledge and contributed to a job offer from Ernst & Young.
Three senior fund managers, all Real Estate majors, lead a team of more than 20 student analysts and interns who research, evaluate and underwrite commercial real estate opportunities, review deal legal documents and monitor property development and management. Business Fellow Vincent Sanfilippo, an experienced investor, advises the senior managers on investment strategy throughout the year. The article names Kelsea Wong, who served as a senior manager for both semesters of 2020–21, along with Ryan Dell and Kyle Keenan in fall 2020 and Matthew Farenhem and Matthew Winschuh in spring 2021.
In 2020–21, the fund made four successful pitches and expanded its portfolio to six properties in South Carolina, Arizona, Pennsylvania, Mississippi and Minnesota. Recent additions include a senior living facility, a life sciences building and two retail outlets. Wong said the team made its first investment as senior managers in November, pitching over Zoom from three locations, and that the remaining three deals came together over the course of the year.
The fund received its first investment proceeds in the spring. Participants hope to achieve at least one sale in the coming year, which the article characterizes as the quantitative measure of success. Ryan Dell described the qualitative benefits, saying the experience gave him leadership skills and fundamental knowledge and contributed to a job offer from Ernst & Young.
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