Publications

November 2008
Case

The StarNight Hotel Construction Bid: Real Time Competition on Schedule, Scope, and Cost

By: John D. Macomber

The case is intended for use with the HBS Educational Technology Group "Construction Bidding Simulation." Material that can be taught includes quantity survey methodology (from the case); analyzing preliminary estimated costs per building trade (from the discussion... View Details

Keywords: Decision Choices and Conditions; Construction; Cost; Contracts; Bids and Bidding; Real Estate Industry

June 2016 (Revised March 2017)
Case

Reworking Office Space: Industry City, Brooklyn

By: Arthur I Segel, Andrew Baum, Nori Gerardo Lietz, Charles F. Wu and Sid Yog

Jamestown is contemplating how to best lease a portion of their new development along the Brooklyn waterfront, Industry City. The 6 million square foot, mixed-use development is meant to accommodate Brooklyn’s growing innovation, creative, and “maker” communities.... View Details

Keywords: WeWork; Office Space; Real Estate; Jamestown; Level39; Shared Office Space; Information Technology; Leasing; Property; Strategy; Real Estate Industry; United States

February 2022 (Revised February 2024)
Case

Sekisui House and the In-Home Early Detection Platform

By: John D. Macomber and Akiko Kanno

To address an aging population and sales declines, a major Japanese homebuilder considers pivoting to provide and support an in-home health detection platform, in competition with tech companies. This case considers the point of view of major builders regarding how... View Details

Keywords: Voice Assistants; Architecture; Smart Home; Aging Society; Digitalization; Real Estate; Home Automation; Sensors; Strategy; Digital Platforms; Health Care and Treatment; Housing; Age; Real Estate Industry; Real Estate Industry; Real Estate Industry; Japan

January 2017 (Revised March 2018)
Case

United Housing—Otis Gates

By: Steven Rogers and Mercer Cook

Otis Gates, the only African-American in his HBS graduating class, is an entrepreneur from greater Boston area and has built a successful affordable housing firm. Along the way, he and his partners have contributed countless hours of community service to the... View Details

Keywords: Affordable Housing; Real Estate; Community Engagement; Social-good; Request For Proposal; Diversity; Entrepreneurship; Social Entrepreneurship; Moral Sensibility; Fairness; Corporate Entrepreneurship; Housing; Business and Community Relations; Real Estate Industry

2020
Book

Healthy Buildings: How Indoor Spaces Drive Performance and Productivity

By: Joseph Allen and John D. Macomber

By the time you reach 80, you will have spent 72 years of your life indoors. Like it or not, humans have become an indoor species. This means that the people who design, build, and maintain our buildings can have a major impact on our health.
Ever feel tired... View Details

Keywords: Architecture; Real Estate Development; Air Pollution; Air Quality; Public Health; Productivity Gains; Buildings and Facilities; Health; Pollutants; Performance Productivity; Construction Industry

Find at Harvard

July 2017
Case

Centerbridge Partners and Great Wolf Resorts: Buying from a Highly Regarded Competitor

By: Josh Lerner, John D. Dionne and Amram Migdal

The case examines the March 2015 Centerbridge Partners investment decision regarding whether to acquire Great Wolf Resorts, a North American family-oriented indoor water parks and hotel operator, from a private equity (PE) competitor, Apollo Global Management. The case... View Details

Keywords: Private Equity Financing; Commercial Mortgage Backed Securities; CMBS; Secondary Buyouts; Business Ventures; Acquisition; Finance; Borrowing and Debt; Cost; Cost of Capital; Equity; Private Equity; Financial Instruments; Debt Securities; Accommodations Industry; Entertainment and Recreation Industry; Financial Services Industry; North and Central America; United States

January 2023
Case

Crow Holdings Development: Mass Timber Construction

By: John D. Macomber, Robert Hernandez and Kyle MertensMeyer

Jim McCaffery and Cody Armbrister of Crow Holdings Development evaluate the pros and cons of committing to mass timber construction instead of conventional concrete or steel for a new 260,000 SF multi-story office building in Texas. Benefits include substantially... View Details

Keywords: Real Estate Development; Architecture; Air Quality; Health ＆ Wellness; Office Property; Sustainability; Carbon Abatement; Natural Environment; Environmental Accounting; Green Buildings; Design; Construction; Cost vs Benefits; Environmental Sustainability; Real Estate Industry; Real Estate Industry; Texas

March 2023
Article

Not from Concentrate: Collusion in Collaborative Industries

By: Jordan M. Barry, John William Hatfield, Scott Duke Kominers and Richard Lowery

The chief principle of antitrust law and theory is that reducing market concentration—having more, smaller firms instead of fewer, bigger ones—reduces anticompetitive behavior. We demonstrate that this principle is fundamentally incomplete.

In many... View Details

SSRN

February 2013 (Revised December 2015)
Case

Groom Energy Solutions: Selling Efficiency

By: Michael W. Toffel, Kira R. Fabrizio and Stephanie van Sice

Groom Energy Solutions helps organizations reduce their energy use and costs through the implementation of energy efficiency measures, which create long-term financial and environmental benefits. With early success serving customers in the cold storage and industrial... View Details

Keywords: Groom Energy Solutions; Jon Guerster; Salem, MA; Energy Management; Energy Efficiency Paradox; Sustainability Management; Manufacturing; Cold Storage; Commercial Real Estate; Enterprise Smart Grid; Carbon Accounting; LED Lighting; Sustainability Research; Entrepreneurship; Environmental Entrepreneurship; Energy Entrepreneurship; Energy Services; Electricity; Startup; Expansion; Growth; Sustainability; Business Startups; Forecasting and Prediction; Energy Conservation; Revenue; Geographic Location; Human Resources; Management; Growth and Development Strategy; Market Entry and Exit; Operations; Service Delivery; Strategic Planning; Science; Environmental Sustainability; Climate Change; Society; Social Issues; Technology Adoption; Energy Industry; Green Technology Industry; Technology Industry; Utilities Industry; United States; Boston

May 2002
Case

Aspen Financial

By: Arthur I Segel and Melissa Yin-Yin Lam

Jack and Bruce Aspen must decide how they want to grow their commercial real estate finance company during a time of tremendous change in the industry. View Details

Keywords: History; Organizational Change and Adaptation; Change Management; Growth and Development; Real Estate Industry

September 2018 (Revised November 2018)
Case

From Beirut With Love (A)

By: Christina R. Wing, Esel Y. Cekin and Samer Al-Rachedy

This case describes how Robert Fadel, CEO and chairman of ABC, one of Lebanon’s leading retail and real estate groups, professionalized the family business. Robert was the second son of the company’s founder, Maurice Fadel, who had run it single-handedly. Concerned... View Details

July 2024
Case

RMZ 4.0: 'How Fast Do We Want to Run?'

By: Boris Groysberg and Sarah L. Abbott

In 2023, RMZ Corporation (“RMZ”) a large family-owned real estate firm based in Bengaluru, India, announced plans to transform from a commercial real estate developer to a diversified alternative asset owner. Over the next 5 years, RMZ looked to grow its real estate... View Details

Keywords: International Expansion; Growth Management; Family Business; Talent and Talent Management; Goals and Objectives; Transformation; Growth and Development Strategy; Diversification; Change Management; Global Strategy; Organizational Change and Adaptation; Real Estate Industry; India

December 2021 (Revised January 2023)
Case

Katerra (A)

By: Lindsay N. Hyde, Thomas R. Eisenmann and Tom Quinn

In April 2020, Katerra executives struggled with a series of decisions that would determine the fate of one of the best-funded construction startups in history. Katerra was founded in 2015 by technology-industry executive Michael Marks and commercial real estate... View Details

Keywords: Business Startups; Insolvency and Bankruptcy; Entrepreneurship; Failure; Construction; Real Estate Industry; Real Estate Industry; United States

August 1999
Background Note

Note on Property Types

By: William J. Poorvu and Daniel J. Rudd

Commercial real estate in the United States can be divided into five distinct property types: apartment, office, hotel, industrial, and retail. This note presents the important characteristics of each of these five property types and highlights the "value drivers" for... View Details

Keywords: Organizational Structure; Property; Commercialization; Value; Real Estate Industry; United States

January 2013 (Revised June 2017)
Case

The Perfect Storm: What Happens When the Market Moves Four Standard Deviations?

By: Nori Gerardo Lietz

Adam Carter was the portfolio manager for Tate Modern Finance III, L.P. (“Tate” or the “Fund”), the third in a series of U.S. commercial real estate debt funds sponsored by the London-based Tate Partners. The Fund was capitalized with $700 million of equity... View Details

Keywords: CMBS; CLO; Repo Financing; Financial Strategy; Investment Funds; Financing and Loans

15 Aug 2023
Cold Call Podcast

Ryan Serhant: How to Manage Your Time for Happiness

Keywords: Re: Ashley V. Whillans; Real Estate

February 2004 (Revised May 2007)
Case

George Barker

By: John A. Davis

George Barker, the 40-year-old CEO of his family's commercial real estate design and development firm, must deal with the unsatisfactory performance of his brother Peter, who is also in the business. Although Peter's performance is upsetting to George, George feels... View Details

Keywords: Family Business; Leadership Style; Business or Company Management; Performance Evaluation; Problems and Challenges; Family and Family Relationships; Real Estate Industry

March 1994 (Revised December 1995)
Case

McArthur/Glen Realty Corp.

By: William J. Poorvu and John H. Vogel Jr.

Jonathan Potter is considering an investment in the newly formed McArthur/Glen Real Estate Investment Trust. The case gives some background on real estate investment trusts and their history. Also discusses manufacturers' outlet shopping centers, the type of real... View Details

Keywords: Investment; Real Estate Industry

November 2012 (Revised March 2015)
Case

Pricing and Partnership at Zillow, Inc.

By: Peter Coles and Benjamin Edelman

As Zillow's real estate search service gains user adoption, some real estate professionals question Zillow's policies, fees, and power. Dissatisfied real estate professionals could remove listings from Zillow, reducing the service's value to users. Should Zillow... View Details

Keywords: Business Strategy; Multi-Sided Platforms; Property; United States