Source
Members bring deals from sponsors, brokers and alumni, then screen them against the fund's mandate.
University of Michigan · Stephen M. Ross School of Business
Michigan Ross Real Estate Fund: Real capital.
Real responsibility.
A student-run investment fund sourcing, underwriting and managing minority positions in commercial real estate across the United States.
Discover the fundThe fund
An investment platform built to turn academic rigor into informed conviction.
Members work in teams to evaluate opportunities, build institutional underwriting, present to the investment committee and remain accountable through each hold period.
The portfolio spans multifamily, retail, industrial and hospitality investments, with structures ranging from common equity to senior debt.
- $600K+
- Equity invested
- 13
- Acquisitions
- 50
- Active members
- 12.5%
- Target net IRR
Investment approach
Members run the process, start to exit.
Underwrite
Deal teams build the model, write the memo and defend the assumptions in front of the room.
Commit
The investment committee votes. Approved deals become LP positions we track through distributions and exit.
Recent acquisitions
A portfolio built one thesis at a time.
Minority positions selected through member-led diligence and tracked from acquisition through exit.
Student housing
Vie at University Downs
Tuscaloosa, Alabama
Acquired September 2026
Garden-style multifamily
Alkire Meadows
Columbus, Ohio
Acquired September 2026
Alumni placement
Experience that compounds beyond the classroom.
REF alumni carry the fund's discipline into leading real estate and investment firms — as analysts, associates and principals.
Start a conversation
Bring us the next opportunity.
Sponsors with a deal, alumni who want to engage, and Michigan students interested in joining can reach the officers here.