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College Students Run High-Powered Real Estate Fund

Wall Street Journal Markets •
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Undergraduates at Indiana University's Kelley School of Business manage approximately $12 million in equity through their real-estate investment business, Sample Gates Management. Unlike typical student investment clubs, this group raises funds from third parties and invests in commercial properties nationwide, including apartment developments and industrial parks.

Brooks Hiller, a 21-year-old rising senior, leads a team of 20 students who operate the business. Hiller chose Indiana University specifically to join this program, which is recognized for managing the most capital among undergraduate-run real-estate investment groups. The program offers students practical experience, enhances educational offerings, and provides investors with returns and continued participation.

The group's achievements highlight shifts in both higher education and the real-estate industry. The industry's increasing digitization and availability of standardized public-market data allow undergraduates to participate effectively, blurring the lines between student and professional involvement. One notable investment in a warehouse yielded a 65% profit.