Sanderford Speaker Series Featuring ASB Real Estate Investments

On February 24, 2025, the White Ruffin Byron Center for Real Estate welcomed UVA alumni Jack Hallemann (Comm ’15), Mary Clarke Wallace (A&S ’22, Comm ’23), and Michael Wiest (Comm ’10) from ASB Real Estate Investments for a discussion on their firm, career opportunities, and a real estate case study. The event hosted over 80 students across UVA, giving them a chance to learn about ASB’s research-based approach to investing. Students had a chance to hear about the typical day-to-day as an analyst at ASB, detailing the variety of tasks. The presentation concluded with a real-world case study on Berkshire 54, a garden-style apartment community in North Carolina. The team explained how they analyzed the property, assessed its value, and made investment decisions. The case study helped students understand how real estate deals are structured and evaluated in a professional setting.

About ASB Real Estate Investments
ASB manages two major real estate funds that invest in different types of properties, including self-storage, retail, multifamily housing, and office buildings. ASB manages two major real estate funds, the Allegiance Fund (focused on long-term investments and income-generating properties) and the Meridian Fund (a more flexible, opportunity-driven fund). These funds invest in various property types, including self-storage, retail, multifamily housing, and office buildings. In rental housing, ASB focuses on older, more affordable buildings rather than luxury apartments, making their investments accessible to a wider range of renters. Their research team evaluates key data points like rent-to-income ratios and average salaries in different areas to decide where to invest.

Analysts at ASB start as generalists, working across asset management, acquisitions, and dispositions within the Capital Investments Group. Their responsibilities include reviewing financials by comparing actual property performance to projections, tracking market trends through conversations with brokers, and reviewing lease agreements. Analysts also take on special projects, such as portfolio valuations and loan refinancing, ensuring that ASB’s investments remain strong.

The event provided a great opportunity for students to connect with ASB professionals, gain insight into the firm’s investment strategy, and explore potential career paths in real estate investment.