Real Estate Internship in Munich Germany by Torrey Sargent, Class of 2013

I was fortunate this summer to work for a company called BLUE Asset Management, located in Munich, Germany. BLUE is a full service asset manager in commercial real estate with a strong expertise in managing retail and office assets with a geographic scope on Germany, Switzerland and Austria. Their clientele is formed by institutional investors, such as REITs, sovereign wealth fund and investment managers.

This summer BLUE was looking to expand their portfolios and properties throughout Germany. One of my tasks was compiling a list of other companies around the world that had assets in Germany and contacting them to find out if they were disposing of any of their assets in Germany. I was successful in making contact with roughly 10 companies that had assets that they were considering selling.

Throughout the summer I also researched different tenants that will be holding leases in various BLUE properties. From grocery stores to media markets I had to create company profiles that provided financial information and descriptions of the companies. This information will be used in presentations that will be given to BLUE’s clients. Of all the undertakings this summer, the highlights were when I was able to visit the actual properties and sites. There are many different angles to consider and analyze to ensure the asset is profitable or remains at the top of the local market. Analyzing the properties and comparing them to local competition was exciting work for me. My knowledge of the German language consists of bier and danke. Fortunately a majority of their clients spoke English which was also the main language spoken around the office. As a small company of only 12 people it provided a great learning environment and made it easy for me to feel confident in asking questions and completing tasks to exactness.

For anyone who has the opportunity to work abroad, I highly recommend it. Classroom education creates a solid base of knowledge, but gaining international experience, though challenging, is invaluable. Seize any opportunity!

Construction on Campus

This summer at the CU Boulder campus, there are construction projects everywhere. You can’t walk from one end of campus to the other without confronting signs about detours and alternate paths. However this site in front of the College of Engineering has us scratching our heads. It looks like going around in circles is the only choice!

If you are interested in finding out more about the building projects on campus (both short- and long-term), then save the date of October 3 for our Fall Quarterly Meeting. The meeting will be here at the Stadium Club and the campus leaders in charge of facilities will be the featured speakers. Check back later on our website for registration information.

Undergraduate Internship and Job Placement

Thirty real estate certificate students graduated on May 10, 2012 along with their approximately 550 classmates at the Leeds School of Business. Each of these students completed their real estate internship and as of this writing, around fifteen of the students have accepted permanent jobs in real estate. Another eleven seniors will graduate with their real estate certificate in December 2012.

One example of a successful industry partnership is with Evans Senior Investments: Leeds students and several Evans Scholars have taken part in a rigorous training program that teaches them how to interact with owners of Seniors Housing communities across the country while giving them a full understanding of the business. Each student receives individual and group training sessions to ensure they are competent and will enter the work place with the following competencies: business development, real estate finance, and business etiquette.

“We are extremely excited to create this partnership between ESI and the University of Colorado. Lisa Chambers at the CU Real Estate Center has been a fantastic resource and critical part of this program ensuring that all of the interns earn college credit for this opportunity,” said Managing Partner Jeremy Stroiman. “Our hope is for these students to learn all aspects of the industry and find full-time positions within the industry upon graduation.”

In Fall 2012, the real estate certificate program will enroll a record 95 juniors and seniors enrolled. If you are interested in setting up a real estate internship for an undergraduate junior or senior, please contact Lisa Chambers at 303.492.4194.

Leeds MBA Students Win NAIOP Rocky Mountain Challenge

A team of five Leeds Real Estate MBA students won the 10th Annual NAIOP Rocky Mountain Challenge on May 2, 2012. The development team from Leeds beat a team from the University of Denver before a crowd of 700 real estate professionals. This competition gives graduate students the opportunity to prepare a proposal to develop/re-develop a site in the Denver metropolitan area. This year’s site was a 65-acre track containing the former Mile High Greyhound Park in Commerce City, Colorado. This site is particularly challenging because it is surrounded primarily by industrial uses and has limited vehicular access.

The Leeds Real Estate team developed an economically and financially feasible plan for the re-development of the very challenging site. Second-year Real Estate MBA students have been working on their proposal with Leeds faculty and real estate professionals all semester as part of the Real Estate Project Competition class. The plan included uses supported by the local market: a boys and girls club, two technical schools, affordable housing and retail. The proposed development will be financed primarily by Commerce City and by private sources of debt and equity.

The development team did a remarkable job creating a market-driven proposal that meets the needs of the local community while providing market rates of return for the debt and equity capital. Following the competition Sean Ford Sr., the Mayor of Commerce City, said: “We look forward to working with the development community to refine these ideas and make this project a reality.”

Please join me in congratulating John Bauknight, Matt Ferguson, Tyler Field, Blake Ottersberg and Craig Townsend. I would also like to thank the instructors for this class, Kim Koehn and Sherm Miller, and Katie Latier for managing the entire process. This year’s competition is Kim’s and Sherm’s first experience with the NAIOP Rocky Mountain Challenge and they did a remarkable job preparing our students for this event. Well done.

—Tom Thibodeau
Academic Director
CU Real Estate Center
University of Colorado Boulder

CU-Boulder/Harvard Team Wins National Competition

April 6, 2012

A revitalization project for downtown Houston combining residential, retail, and entrepreneurial business elements has secured the first place grand prize of $50,000 in a national urban design competition for a joint team from the University of Colorado Boulder and Harvard University.

The 10th annual Urban Land Institute Gerald D. Hines Student Urban Design Competition pits graduate level teams against each other based on a hypothetical proposal for a redevelopment project. Student teams act as a master developer by proposing a master land use plan for a development site, as well as supplying financial projections needed to support the master development plan. This year’s site is the 16.3 acre landmark United States Postal Service facility in downtown Houston.

The winning proposal, “Bayou Commons,” was strategically designed to be downtown Houston’s first residential district celebrating cultural diversity and urban lifestyle. The master plan, originally named “Downtown Bayou,” was re-branded after the team considerably refined and expanded their initial proposal following University of Colorado/Harvard University team’s final four selection and site tour in early March.

The Bayou Commons design focused on attracting a mix of ethnic and socioeconomic individuals through its enhanced Buffalo Bayou waterfront, variety of residential product, connection to adjacent districts and the University of Houston-Downtown campus, safe community environment, entrepreneurial office space, and new commuter rail station. The scheme’s distinctive features for the site include: an iconic pedestrian bridge spanning the bayou, unique architecture and amply-shaded sidewalks that create comfort and re-establishes downtown outdoor enjoyment in the hot and humid Houston climate, a new cultural center for exhibits and performances. The team designed Bayou Commons to be market-driven and phased to ensure each chapter of development creates a desirable place to live and interact. In addition, the master plan celebrates Houston’s culture while fulfilling the city’s desire of catalyzing residential development and future downtown revitalization.

Chad Murphy and Alex Atherton (second and third from left), two MBA candidates in real estate at Leeds, joined Harvard graduate students Michael Albert, Anna Cawrse, and Victor Perez Amado to form an impressive team with finance and design expertise.

“People have a growing desire to live downtown,” Murphy said of the team’s design. “This is a unique opportunity where some of the strongest real estate oriented people in the country come together in one multidisciplinary competition. It’s amazing and humbling to have been a part of it.”

The winning team took on challenges faced in many cities looking to find new ways to transform blighted areas and address economic issues. “From an experiential learning perspective, the team has had to analyze different product types from affordable housing, to mixed use with retail, office, and had to deal with many engineering and traffic flow issues,” said Miller, who added that the real estate program at the Leeds School of Business is known for its academic depth and practical training.

Established in 1936, the Urban Land Institute is a nonprofit education and research institute with a mission to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.

Press Release