The CU Real Estate Club sponsored a hard hat tour of the CU Athletic Facilities including the new indoor football practice field and the Hall of Champions. The tour (limited to 15 seniors) was led by the project managers at Mortenson Construction and Development Company. The students were especially interested in learning how a project of this immensity is managed at the ground level. Several of the seniors on the tour had gone on a similiar tour last fall when the project was just a huge hole in the ground. What a difference a year can make!
The Real Estate Club sponsored their 5th annual Habitat for Humanity volunteer day which took place this year on Friday, Oct 16th. Thirteen students participated in the full-day event in Longmont. The students spent the majority of the day hanging drywall inside two houses (ceilings and walls). They were all tired at the end of the day but felt that they had made a lot of progress. It certainly made a big difference to the two new homeowners. A BIG thanks to all of the volunteers!See additional photographs in our gallery, here!
The 2015/2016 school year is well underway, and activity at the CU Real Estate Center is brisk. There are currently 125 undergraduate students enrolled in the RE Certificate program, and over 315 seats filled with interested students in offered classes this fall. In the MBA program there are currently 19 students taking Real Estate Finance and Investments and 15 students in Real Estate Economics. There is no shortage of questions to be answered or careers to be shaped. Fortunately for all our students, the real estate industry is in generally good shape, so internships and jobs are available in many areas of finance, marketing, leasing, sales and development.
We are offering a new class in Risk Management, which will be beneficial for anyone who wants to better understand the various areas of risk in the real estate world. Weighing the various risk elements in portfolios and individual assets, from portfolio balancing, construction risk, interest rate risk, lease-up risk, and general overall economic risk, is critical in the decision-making process in buying, selling, holding, financing and developing real estate assets.
We are rapidly approaching our fall National Advisory Board (NAB) meeting, where key real estate practitioners from around the country come to Boulder to discuss and debate current topics in the industry, and to help direct the growth and direction of the Real Estate Center. In this session, we will be hearing from Mr. Tom Clark, the Executive Director of the Metro Denver Economic Development Corporation, who will brief us on the state of the real estate market in Denver and the Rocky Mountain West. Tom has a wealth of experience in the economic development arena, and we are certain to gain valuable insights from his presentation.
We are currently tabulating the results from our first-ever member/stakeholder survey at the Real Estate Center. Our goal is to make sure we are providing the best value possible to our various constituencies. From our students, to our Council, NAB and Board of Governors members, we want to make sure that the Center is relevant, effective, and growing. We want to maintain our already strong reputation in the industry, and grow our stature beyond the Rocky Mountains, to ensure our students and faculty are recognized and rewarded for their efforts and expertise.
On the hiring front, we have commenced our search for a full-time Executive Director. The position is highly desirable and prominent, and we want to make sure we find the best possible individual to move the Center forward. A search committee is being formed, and the job description is being finalized. We hope to identify and secure a new Executive Director by the end of the calendar year. We are also searching for a replacement for Professor Liang Peng, who departed in June to take a post at another top-notch program in the eastern US. We wish Liang well, and thank him for his years of service to CU.
Finally, we are pleased to announce that we we now have two meaningful endowment funds that will help support the Center financially, and will ensure its growth and stature for years to come. Bill Reynolds, a longtime supporter of the program, has made a generous donation which, with the help of matching funds from the Chancellor, has created a $2.1MM fund to support general Center operations. In addition, our Experiential Learning Endowment is now approaching $900,000, which will help support student activities beyond the classroom, including student treks, case competitions and other hands-on learning opportunities that compliment our formal academic curriculum.
No matter how you look at it, the current and future state of the Center is exciting and growing. We are looking forward to continuing our great tradition of providing top notch experiences for our students and Center supporters. Much more to come soon!!
Interim Executive Director
There are two Real Estate related positions available at Leeds School. First, Dean Ikenberry has approved a full-time position to replace Sherm Miller as the Executive Director of the University of Colorado Real Estate Center. A search committee is being formed to identify qualified candidates. The expectation is that a qualified candidate can be identified during the fall and begin leading CUREC in January 2016. In the meantime, Kim Koehn is doing an outstanding job as the interim Executive Director. Kim has agreed to continue as the interim Executive Director until January 1, 2016.
Second, the Provost of the University and the Dean of the Leeds School have approved a faculty position to replace Associate Professor Liang Peng. Liang left the Leeds School in May to become an Associate Professor of Risk Management at the Smeal College of Business at Penn State University. The faculty position may be at any rank: Assistant Professor (without tenure) or Associate or Full Professor (with tenure). The Finance Division is advertising this position in the usual academic publications. The Division plans to solicit interest in the faculty position and begin interviewing qualified candidates during the fall semester. If all goes well, CUREC will have another tenure-track real estate faculty member on board for the Fall 2016 semester.
Finally, I would like to thank Linda Kaboth for taking on additional teaching responsibilities at Leeds. Linda is currently teaching two undergraduate real estate courses for us: Real Estate Principles and Real Estate Finance and Investments. In addition to these two classes, Linda plans to teach the MBA Principles of Real Estate couse and an undergraduate Real Estate Finance and Investments course for us during the Spring 2016 semester. Thank you Linda.
Academic Director of the University of Colorado Real Estate Center