Merging UDK files together.

First of I'm very new to UDK and I just wanted to quickly ask a question about merging geometry between projects so I don't waste a lot of time doing something wrong.

I'm currently working on a school project where every student is modeling a building, or group of building on their own. My building is the biggest and will require me to break it up in many smaller pieces.

The goal of the project is to put everyone buildings into the same scene/level (not sure what the correct term would be in UDK).

So since my building is very big I want to model it in 3ds max and put it into UDK on my own machine at home, then later when we need to put all the buildings together, I want to merge my building with the master project.

I would want to make my building into one object, I'm pretty sure the best way to do that is to make it into a prefab object. I want to do this so it will be easier to put into place among other things.

So what I'm really asking is can I export a prefab object from one UDK project and import it into another with all the meshes, textures, shaders/materials, LOD and all of that?

I'm sorry if this is a very elementary question, but I had some trouble finding what I wanted by googleing.

Thanks for any help you can give me.

-Firepork