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Letter from the Executive Director

Mark RiedyMark Riedy, PhD

Real Estate and financial services firms and professionals support the USD real estate program in many ways. Most recently, the Burnham-Moores Center (BMC) committed $160,000 to scholarships for recruiting Master of Science in Real Estate (MSRE) students for the class of 2014-2015. Of that total, $50,000 came directly from the BMC’s operating funds and $110,000 came from a scholarship fund-raising campaign. One of the Center’s Executive Committee (EC) members generously donated $50,000 over the summer and challenged us to raise matching funds. By Oct. 2, we raised $60,000 more, thanks to our incredibly loyal and understanding EC members and other terrific donors.

Women in Real Estate ConferenceScholarships are an increasingly critical resource because we compete for graduate students with top university-based programs throughout the United States and globally. In part, as a result of having sizable scholarships available for recruiting high quality MSRE candidates, in the ARGUS University Software Challenge we are able to field championship teams in international competition. Scholarships also enable us to attract uncommonly talented MSRE students who add value to classroom discussions, reflect well on the BMC when networking and interacting almost on a daily basis with industry professionals during their enrollment in the program, and find themselves in strong demand when entering the job market as alumni. Moreover, MSRE students receiving scholarships benefit not only financially but also find their reputations and career prospects are expanded. Scholarships, while recognizing and rewarding students’ achievements, also serve as strong endorsements of the scholarship students’ exceptional potential and thereby distinguish them as job prospects.

We believe in generating scholarship funds dedicated to attracting outstanding MSRE students, but we don’t stop there. Another major initiative recently announced is the new dual degree MSRE program with the European Business School outside Frankfurt, Germany. We expect to enroll several European real estate students annually, thereby offering our students a more global perspective in the classroom. Furthermore, we are also exploring the most effective ways to recruit veterans transitioning out of their military service and into real estate careers. One of the career paths we will highlight, of course, is our MSRE program. It will be exciting to observe our students become more mission-driven and focused as former Navy Officers, SEAL team members and other elite veterans work alongside them on classroom projects.

Beyond the scholarships we use to recruit MSRE candidates, currently enrolled graduate and undergraduate students also compete for 12-15 existing scholarships each year. Scholarships recognized and rewarding performance excellence inside and outside the classroom range from $1,500 to $10,000. Some also include free registrations to industry programs.

In these and many other ways, the Burnham-Moores Center marshals support from the real estate and financial services industries. We focus that support on our top priority—educating the real estate industry’s leaders of today and tomorrow. If you believe in our mission and prize the well-educated students coming out of USD’s real estate program, please consider contributing to our pool of scholarship resources. We will be thrilled to name scholarships in your honor. You, in turn, can take quiet pride in making a dramatic difference in the careers and lives of future real estate professionals. If you do not yet know enough about us and our students, please contact me to discuss the BMC’s programs and how you might get involved. Support of the BMC is an extraordinary way of “giving back” to the industry you love.

Mark Riedy
Mark J. Riedy, PhD
Executive Director

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Mark Gleiberman Receives 2013 Mulvihill Leadership Award

Mark Gleiberman (left) accepts his award at the Sept. 30 Policy Advisory Board Executive Committee dinner.

At the Center’s Policy Advisory Board Executive Committee dinner Sept. 30, committee member and President and Founder of MG Properties Group, Mark Gleiberman, received the Daniel F. Mulvihill Leadership Award. At the dinner, Executive Director Mark Riedy, PhD, presented Gleiberman the award in recognition of his “extraordinary enthusiasm, service, support and belief in the Center’s value to the community.”

The award was created in 2002 to honor Dan Mulvihill, chairman of Pacific Southwest Realty Services, for his leadership in helping to launch USD’s real estate program as well as his integral involvement in building the program to its current level of prominence. This was the 12th year the award was given to a Burnham-Moores Center supporter.

During his remarks, Riedy thanked Gleiberman and highlighted his wide-ranging support of USD’s real estate program.

“Mark has come on like gangbusters in terms of adding value to the USD real estate program since he joined in 2009,” said Riedy on why Gleiberman was selected for the award. “He believes in us and enhances our program. In a short period of time he has recommended two strong candidates that we invited to join our Policy Advisory Board Executive Committee, encouraged his son to enroll in our MSRE program and, along with his wife, agreed to serve on the dinner committee for the black tie gala celebrating the 20th anniversary of the founding of the USD real estate program expected to take place in Spring 2014. Mark Gleiberman gives us time and effort and financial support. His endorsement of the Center and MSRE program adds to our value. We treasure his faith in us.”

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USD and IREM Sign MOU to Advance Real Estate Management

IREMThe University of San Diego (USD) and the Institute of Real Estate Management (IREM) recently signed a Memorandum of Understanding (MOU) outlining a collaborative relationship to advance the real estate management profession. USD’s responsibilities will be carried out by the faculty and staff of the BMC.

Under the terms of the MOU, USD will, among other initiatives: recognize IREM as a principal provider of real estate management education and credentials; promote USD’s real estate programs as fulfilling many of the specified educational requirements for IREM’s CPM designation; utilize IREM textbooks and resource material, as appropriate, to develop and deliver its real estate management curriculum; and make information about IREM’s Student Membership program available on the USD website.

IREM will recognize USD as a leading provider of real estate education on IREM’s website and in other promotional materials; recognize USD’s real estate program as one that fulfills many of the specified educational requirements for IREM’s CPM designation; provide USD with resource material to use in developing its real estate curriculum and provide materials about careers in real estate management for distribution to its students; and enhance the connection between USD, represented by the BMC, and IREM’s San Diego Chapter for purposes of mutual collaboration.

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Real Estate Society Hosts First-Time Homebuyers Seminar

FirstTimeHomebuyers Seminar
(Left to right) Fred Gregory and Michael Graves offered their insights on first-time homebuying at the Sept. 26 seminar on campus.

On Sept. 26, members of the Linda Vista Community, along with USD students, faculty and staff, attended the “First-Time Homebuyers Seminar” and luncheon sponsored by the Burnham-Moores Center for Real Estate and USD’s Real Estate Society. The California Mortgage Bankers Association Foundation provided funding for the event to give prospective homebuyers information on the current local housing market and requirements for entry.

The seminar featured information and views from Michael Graves, sales manager at Residential Wholesale Mortgage Inc. and Fred Gregory, broker and president of Avalar San Diego Real Estate. After presentations from the panelists, moderated by the BMC’s Director of Residential Real Estate, Joe Bertocchini, attendees peppered the experts with questions, a sign of their growing interest in homeownership.

The week prior to the seminar, USD’s Real Estate Society kicked-off its first meeting of the fall semester with guest speaker Charlie Abdi ’83 (BBA), principal of Finest City Realty Advisors. The Real Estate Society, coordinated through the Burnham-Moores Center, is a student-led organization open to all USD undergraduate students designed to help them identify and explore career opportunities in residential and commercial real estate.

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Center To Offer ARGUS Training in December

Argus LogoThe Burnham-Moores Center will offer another two-day ARGUS training workshop for industry professionals on Dec. 7 and 8. ARGUS Valuation-DCF is the industry standard for commercial real estate cash flow projection, transaction analysis and asset valuation solution.

Professor Charles Tu, PhD, will teach the course. Tu has served as faculty adviser for the winning MSRE teams each year the “ARGUS Software University Challenge” competition has been held.

The workshop, which is limited to 20 attendees, is $600 per person and will be held on the University of San Diego campus. A 10 percent discount is available for USD alumni and for multiple registrations.

To register for the course, go here. For registration questions, contact For questions about the workshop, contact

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Past Woodruff Scholarship Recipients Attend Annual Dinner

Woodruff Dinner
Past recipients of the Woodruff Scholarship gather for the annual dinner, which took place at Stath Karras’ home this year.

On Oct. 3, Stath Karras, San Diego area executive managing director of Cushman & Wakefield, and his wife, Terry, graciously hosted the 10th Annual Daniel B. Woodruff Memorial Scholarship recipients dinner at their home. Karras is a member of the Burnham-Moores Center’s Executive Committee, the 2008 winner of the BMC’s Mulvihill Leadership Award and is currently chairman of the San Diego Regional Economic Development Corporation.

The Woodruff Memorial Scholarship was established by the Center in 2000 as a permanent tribute to USD alumnus Dan Woodruff ’98 (BA), to honor outstanding students pursuing careers in real estate. A U.S. Navy veteran, Woodruff died of cancer at the age of 27, less than two years after graduating from USD.

Ten Woodruff Scholarship recipients attended the dinner including: Carey Algaze ’12 (MSRE), Ann Bruce ’02 (BBA), Molly Jones ’11 (BBA), Ron May ’07 (MSRE), Caleb McKinley ’02 (BBA), Rodd Miller ’01 (BBA), Nick Norris ’13 (MSRE), Jacob Schwartz ’02 (BBA), Justin Shifrin ’11 (MSRE) and Jesse Votaw ’06 (MSRE).

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Undergraduate and Graduate Students Meet Mentors

MSRE Mentor Breakfast
(Left to right) MSRE student Lori Motooka and her mentor, Daniele Horton, founder and principal of Verdani Partners.

USD’s Real Estate Alumni Association hosted a breakfast on campus Oct. 1, to introduce 15 undergraduate students to their industry mentors. Each student is paired with a local real estate professional and is required to meet with his or her mentor three times throughout the fall semester. Students are required to submit a written account of their experiences.

Undergrad Mentor Breakfast
Undergraduate student Jonathan Fuller meets with his mentor, Merrick Matricardi, broker at CBRE.

Graduate students in the Master of Science in Real Estate (MSRE) program met with their respective mentors at a “Mentor Kickoff Breakfast” held on campus Oct. 8. Although the mentor program is optional for MSRE students, almost all take advantage of this opportunity to network and learn from industry leaders. MSRE students who partake in the Burnham-Moores Center’s mentor program are matched with executives based upon the student’s career interests. They meet regularly with their mentor throughout the academic year. In many instances these professional relationships carry over and beyond the student’s graduation from USD.

Interested in mentoring an undergraduate student in the future? Please contact Brittany Conway. Interested in mentoring an MSRE student? Please contact John Ferber.

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Center Establishes Real Estate Research Fund

The Burnham‐Moores Center for Real Estate (BMC) encourages, supports and promotes high-quality research and publication in areas related to real estate. To advance these goals the BMC recently established a Real Estate Research Fund to foster real estate research. The Fund will enhance the national and international recognition of scholarly research at the University of San Diego’s School of Business Administration (SBA) and the BMC.

All tenure‐track, tenured and full‐time faculty within the SBA are eligible to apply by submitting real estate research proposals in the topic areas of commercial real estate, housing, capital markets and demographics. The Fund supports research-related expenses including data acquisition, travel for conference presentations, journal submission fees and other relevant research assistance. The funding of the program began Sept. 1, 2013 and ends Aug. 31, 2014.

For more information, please contact Charles Tu, PhD.

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NAIOP Conference Keynote Speaker Guest Lectures in MSRE Class

Hans Norby
Hans Nordby speaks to the MSRE class Oct. 8.

The Burnham-Moores Center for Real Estate enjoyed multiple benefits from NAIOP’s “Development ‘13: The Annual Meeting for Commercial Real Estate” in downtown San Diego Oct. 7-9. MSRE students attended conference sessions, networked with industry professionals and promoted the MSRE program. Professor Norm Miller, PhD, gave several presentations during the conference, offering his latest research findings on workspace trends and productivity.

Taking full advantage of the conference’s resources, Professor Miller invited Hans Nordby, managing director of PPR/CoStar and keynote speaker for NAIOP’s program, to guest lecturer during Miller’s “Real Estate Market Analysis” class on Oct. 8. Nordby expanded on his conference presentation, “The Economy and What it Means to Commercial Real Estate in General – and to Your Business in Particular.”

Nordby leads a team of 65 professionals, including 40 economists, at PPR in Boston, Washington, D.C. and the United Kingdom. With PPR since 2002 and until October 2011, Nordby was director of advisory services, managing customized strategic research projects for large public and private pension funds, pension fund advisors, bank holding companies and REITs.

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MSRE Students Visit Cushman & Wakefield

Stath Karras
Stath Karras welcomes the MSRE students to the Cushman & Wakefield’s new UTC office.

On Sept. 27, Cushman & Wakefield welcomed the Master of Science in Real Estate (MSRE) class to a private meeting at their new office in UTC. The graduate students attended a networking luncheon with company executives, toured the building and listened to presentations from senior management. The executives included: Stath Karras, executive managing director of the company’s San Diego office and a member of the Burnham-Moores Center’s Executive Committee; Steve Center, senior managing director of investment services; Pamela Flora, director of research; Matt Marschall, executive managing director; Edward Rosen, executive director; and Travis Trautvetter ’04 (BBA). Each member of the Cushman & Wakefield team offered career advice, industry insights and information on the company and their respective positions.

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Alumni Matters

Jamas Gwilliam
Jamas Gwilliam ’06 (MSRE)
Jessie Greer
Jessie Rich-Greer ’11 (MSRE)

Jamas Gwilliam ’06 (MSRE) was recently promoted to director of development of Kilroy Realty Corporation. In less than three years at the company’s Los Angeles headquarters, Gwilliam has become an integral part of the team that acquired over $1.5 billion of assets since 2011. Additionally, he has worked on the development team at Kilroy’s Carmel Valley mixed-use project “One Paseo,” along with the company’s two million square foot development pipeline in San Diego. In Los Angeles, Gwilliam led the acquisition and subsequent development in Hollywood of “Columbia Square,” currently under construction and in lease-up.

Jessie Rich-Greer ’11 (MSRE) was selected as the 2014 president-elect of the San Diego CCIM chapter. “I am deeply humbled and honored to be selected as a candidate for president-elect,” Rich-Greer said. “I only hope to carry forward the storied tradition of CCIM values and professionalism the industry has come to expect from this organization, while serving alongside such a high caliber board of directors.” Rich-Greer will continue to provide strategic direction to Greer Group Inc., an industry leader in cost segregation and real estate services, while serving on the board of CCIM.

Alumni News
If you are an USD alum working in the real estate industry, we would like to hear from you. We are expanding the “Alumni Matters” section of The Pipeline. Please e-mail Diane Gustafson with recent and significant career-related awards, promotions, job moves, etc. All submissions will be considered for publication. 

Tell us how your experience as an MSRE student enriched your career and created opportunities for your future. Your comments about the MSRE program will serve as a testament to the value of your educational experience at USD. Your endorsement will help us compete against other highly recognized graduate real estate programs in recruiting top-quality candidates for future classes. We also want to hear from companies which have hired our exceptional students. Please contact Kimberly Malasky to learn more about sharing your testimonial with the Burnham-Moores Center.

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MSRE Staff and Students Attend ICSC Conference

ICSCThe Master of Science in Real Estate (MSRE) program was well-represented at the International Council of Shopping Center’s (ICSC) “2013 Western Division Conference and Deal Making,” held Sept. 18-20 at the San Diego Convention Center. Our MSRE exhibit promoted the benefits of the program and value of the Burnham-Moores Center.

Several MSRE students also attended the conference, which included panels on getting development projects off the shelf and into the ground; a Next Generation session and six Special Industry Groups (SIGs); deal making; and invaluable networking opportunities.

This event is the premier retail real estate networking event in the Western United States. It offers tenants, industry professionals, career builders and entrepreneurs ways to forge and maintain business relationships within the western region.

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USD Index of Leading Economic Indicators

Alan Gin
Alan Gin, PhD

Alan Gin, PhD, associate professor of economics has compiled the “USD Index of Leading Economic Indicators for San Diego County” for the Burnham-Moores Center since January 2002. The Index, a highly regarded monthly report on the outlook for the local economy, makes Gin a popular resource for information and analyses. He has given over 1,000 interviews to local and national media sources since 2002.

The Burnham-Moores Center recently assumed responsibility for handling electronic distribution of Gin’s Index. Manual distribution of the Index ended in September 2013. If you would like to be added to the electronic distribution list for future issues, please contact Diane Gustafson. To view past Index reports, go here. To schedule a media interview with Gin, please contact Kimberly Malasky, director of communications and administration.

Back to TopIn the News

Director of Residential Real Estate, Joe Bertocchini, was quoted in a Sept. 10 Daily Transcript article on foreclosures stabilizing in San Diego due to new laws and increasing home prices.

Professor Norm Miller, PhD, and associate professor Alan Gin, PhD, were included in the Sept. 13, Sept. 20, Sept. 27 and Oct. 4 editions of U-T San Diego’s “EconoMeter.”

Executive Director Mark Riedy, PhD, was quoted in a Sept. 27 Daily Transcript article after participating in The Transcript’s executive roundtable Sept. 19. The group discussed what makes a business successful. In addition to bottom-line profitability, roundtable participants emphasized that employee and client satisfaction are the most important factors and gave specific illustrations of how they pursue these goals.

Alan Gin, PhD, was featured in the U-T San Diego, The Daily Transcript, the San Diego Business Journal, Malaysia Sun and, following his most recent release of the “USD Index of Leading Economic Indicators for San Diego County,” which he compiles for the Burnham-Moores Center.

Mark Riedy’s op-ed piece was published in the U-T San Diego Oct. 6. The piece offered his perspective on the causes of multi-billion dollar losses in the FHA program, Fannie Mae and Freddie Mac, and explained how these agencies should be regulated in the future. referenced the article on their site on Oct. 7.

An article highlighting the Burnham-Moores Center’s upcoming Breakfast at the BMC event, featuring John Kratzer, appeared in The Daily Transcript Oct. 11.

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TUESDay, OCT. 22, 2013

Breakfast at the BMC

Time: 7:30 - 8 a.m. breakfast and networking; 8 - 9 a.m. program
Location: Joan B. Kroc Institute for Peace & Justice, University of San Diego campus

Cost: $45 per person; includes registration fee and continental breakfast

Keynote: John Kratzer, president and chief executive officer of JMI Realty
Moderator: Dennis Cruzan, principal of Cruzan/Monroe Investments


To register, go here. For sponsorship opportunities or more information, contact Diane Gustafson at (619) 260-2379.

WEDNESDay, NOV. 13, 2013

Third Annual Women in Real Estate Conference

Time: 7 – 8 a.m. breakfast and networking; 8 - 10 a.m. program; 10 - 10:30 a.m. networking

Location: Joan B. Kroc Institute for Peace & Justice, University of San Diego campus

Cost: $50 per person; includes registration fee and breakfast


Keynote: Beth Fischer, division president of Pardee Homes
Featured Speaker: Kris Michell, president and chief executive officer of Downtown San Diego Partnership
Moderator: Lori Holt-Pfeiler, executive director of San Diego Habitat for Humanity and former mayor of Escondido.


To register, go here. For sponsorship opportunities or more information, contact Kimberly Malasky at (619) 260-4786.


ARGUS Training Workshop

The Burnham-Moores Center for Real Estate will offer a two-day workshop covering the key features of ARGUS Valuation-DCF, the industry standard in commercial real estate investment analysis. ARGUS software is used to project cash flow for office, industrial and retail properties.


Time: 9 a.m. – 4:30 p.m.

Location: University of San Diego, Olin Hall Room 226, 5998 Alcala Park, 92110

Cost: $600; a 10 percent discount is available for USD alumni and multiple registrations.


To register for the course, go here. For questions about workshop content, contact Charles Tu, PhD. For registration questions, contact Diane Gustafson at (619) 260-2379.

THURSDAY, DEC. 12, 2013

14th Annual Residential Real Estate Conference: Outlook 2014


Time: 7:30 – 8:30 a.m. continental breakfast and networking; 8:30 - 10:30 a.m. program
Joan B. Kroc Institute for Peace & Justice, University of San Diego campus

Cost: $65 per person or $550 for 10 reserved seats


Keynote: Stan Humphries, PhD, chief economist of Zillow Inc.

Panelists: Nathan Moeder, principal of The London Group Realty Advisors and John Olinski, executive vice president of OneWest Bank

Moderator: George Chamberlin, executive editor of The Daily Transcript.


To register for the conference, go here. For sponsorship opportunities or more information, contact Diane Gustafson at (619) 260-2379.

THURSDay, FEB. 13, 2014

18th Annual Real Estate Conference and the USD Real Estate Program’s 20th Anniversary Celebration - SAVE THE DATE

Time:  7 – 8 a.m. full breakfast and networking; 8 – 11:30 a.m. program; 11:30 a.m. – 12:30 p.m.  20th Anniversary celebration
Location: San Diego Marriott Marquis & Marina, 333 West Harbor Dr., San Diego, 92101

Cost:  $175 per person: includes registration fee, breakfast and complimentary access to the 20th Anniversary celebration including hors d'oeuvres and refreshments
Keynote Speaker: Sam Zell, founder and chairman of Equity Group Investments


For sponsorship opportunities or more information, contact Diane Gustafson at (619) 260-2379.

Back to TopContinuing Education Courses- November 2013

STARTS TUESDay, NOV. 5, 2013

CEQA and Other Environmental Regulations

  • Course taught by Ryan Birdseye, environmental planning specialist
  • Course helps meet the requirements for a Certificate in Real Estate Finance, Investments and Development.
  • To register, or for more information on this course, go here or contact Adriana Serrano.
  • For more information on Real Estate Continuing Education, go here.


For more information on the Burnham-Moores Center for Real Estate, go here.


For more information on the Master of Science in Real Estate program, go here.