Lifelong learning is the theme of the Burnham-Moores Center's 2007 annual Director's Report, which many of our readers will receive in the mail soon. As a supplement to our annual report we also provide, on the Center's Web site, www.usdrealestate.com, the "2007 Year in Review," which I encourage everyone to read. The "Year in Review" highlights our extensive array of initiatives which, in sum, do provide lifelong learning opportunities for real estate students and industry executives.
Looking toward the fall, we are excited about our many new programs, including the incoming class and fifth cohort of Master of Science in Real Estate students, whose experience and passion for real estate are exceptional; the launch of our new continuing education certificate in Land Use and Sustainable Community Development for practicing real estate professionals; and on Sept. 16, our first 2008 offering of the Breakfast at the BMC series, featuring Dr. Seek Ngee Huat whose GIC Real Estate fund is one of the Top Ten globally and includes assets in this region.
To help us handle that crush of courses administratively, we are thrilled to have Ines Kraft, Ph.D., as our new administrative director of the MSRE program.
No one likes to be part of a weak job or real estate market, to be sure. Nonetheless, as an academic program with our roots deep into this region's real estate markets, our students will benefit even now by learning about the "dark side" of our inherently cyclical business. I have believed always that we learn more from problems than from successes.
San Diego truly is a living laboratory for the science as well as the art of real estate. In that vein USD real estate students are fortunate, because they become intimately familiar with the companies, the executives, and the market behavior of their chosen industry while still in the classroom. To foster that student-industry interaction, I would ask each of you to consider taking on one of our bright and talented students through an internship, or by providing part-time or full-time jobs in the months ahead.
Remember to save those dates above — Sept. 16, Dec. 9 and Feb. 18 — as part of your lifelong learning through the Burnham-Moores Center for Real Estate.
Norm Miller, professor and director of academic programs, will co-chair a newly formed University of San Diego research working group on sustainability. Simon Croom, executive director of the School's Supply Chain Management Institute, will serve as Miller's co-chair. Both were selected for the posts by new SBA Dean David Pyke, who joined the University from Dartmouth College July 1.
The research working group was created to facilitate the exchange of ideas on current and potential research in the area of sustainability, particularly across disciplines. Apart from real estate, research on sustainability issues is also currently under way at USD in environmental sciences, supply chain and law.
"While there will continue to be deep questions in each of these areas, our experience suggests that the most difficult problems are often at the intersection of disciplines," says Pyke. "USD is perhaps uniquely positioned to exploit these intersections because of our size and the flexibility and intellectual curiosity of our faculty."
When Alvin Mansour was 17 years old, he started as a freshman at USD. At 20, he graduated college, completing his undergraduate degree at a break-neck speed of less than three years. Now, as senior director at Marcus & Millichap — almost veteran status in the industry — he is the $1 billion dollar man, having completed investment transactions valued in excess of $1 billion across the United States.
Impressive, considering Mansour '03 is currently the ripe old age of 25.
After only five years in the industry, Mansour has amassed accolades and honors almost unheard of for someone so new to the industry. In 2006, by his third year on the job, he was already a Top 10 Broker for Marcus & Millichap nationwide. He won the honor in his fourth year as well, and garnered the award for No. 1 multi-tenant broker in the National Retail Group. In 2008, Southern California Real Estate ranked him in its top "30 under 30" real estate professionals, as well as in its top "40 under 40." He currently oversees a staff of 10 at the Mansour Group of Marcus & Millichap, including other senior-level employees. With retail as his specialty, at any one time he manages the sale of between 50 and 75 retail properties.
Mansour will tell you achieving such success isn't as easy as he makes it look. After his first few weeks on the job, he hated it, and even considered quitting. He felt like he was drowning in an industry filled with "sharks," he says. He lacked guidance. He had no mentor. He was struggling.
Alvin Mansour's Career Awards
Southern California Real Estate's 30 Under 30 Southern California Real Estate's 40 Under 40 Marcus & Millichap Circle of Excellence Award 2006, 2007 Marcus & Millichap Chairman's Club Recipient 2004, 2005, 2006, 2007 Marcus & Millichap National Achievement Awards 2004, 2005, 2006, 2007, 2008 #1 Agent in the San Diego Office 2006, 2007 #1 Multi-Tenant Broker in the National Relation Group 2007 #2 Retail Broker for Marcus & Millichap Nationwide 2007 #3 Retail Broker for Marcus & Millichap Nationwide 2006 Top 10 Broker for Marcus & Millichap Nationwide 2006, 2007
But he hung in there, focused on working hard and developed thick skin. By the end of his first year on the job, he won Marcus & Millichap's Rookie of the Year award for the entire company, and captured most of the sales records for first-year employees.
Mansour also credits his success to the fact that he lives and breathes his work. He loves it, and tends to find himself restless when not wheeling and dealing.
"Most of my life is work," he says. "But it really doesn't even count as work to me. It's just something where if I am not working, it's almost boring for me. A large portion of my life is the business, but it's also my hobby."
Taking into account Mansour's calculating, workhorse mentality ("I want to build a real estate empire," he says), how he broke into the industry is serendipitous. An undergraduate student studying Business Administration with an emphasis in real estate, Mansour attended the Burnham-Moores Center's Annual Real Estate Career Expo. He had no intention of going to the career fair, but attended because he knew he could get extra credit in class if he went.
At the career fair, Mansour met Kent Williams from Marcus & Millichap. Two interviews later, he was hired. "It all happened because of a career fair that I had no intention of going to," Mansour says laughing.
The Burnham-Moores Center is pleased to welcome Ines Kraft, the new administrative director of the MSRE program. Kraft fills the vacancy left by Lisa Chambers, former director of administration and academic affairs. Kraft received her undergraduate degree in philosophy from Skidmore College, and her master's and Ph.D., both in comparative literature, from Indiana University. After 15 years in the banking industry, in 1993 Kraft changed her career path to higher education. She has since served as a director of academic affairs and as a curriculum development program manager for the University of Phoenix, and most recently was the dean of academic affairs at the Art Institute of California-San Diego. Originally from Bavaria, Germany, Kraft is fluent in German and also speaks French.
In July 2008, the California Legislature adopted the nation's first green building code, known as the "California Green Standards Building Code." The code is designed to promote positive environmental impacts and encourage sustainable construction practices in: 1) planning and design; 2) energy efficiency 3) water efficiency and conservation; 4) materials conservation and resource efficiency; and 5) environmental air quality. For addition at a later time, the code has reserved sections for provisions regarding site selection and design with the stated goal of protecting, restoring and enhancing the environmental quality of the site and the integrity of the adjacent properties. The code is designed to be adopted by cities and counties and consequently adapted based on local climactic, geological and topographic conditions. The code applies to the planning, design, operation, construction, replacement, use and occupancy, location, maintenance, removal, demolition of every building and structure, or improvements connected and attached to such building structures throughout California.
The Burnham-Moores Center is considering offering an educational seminar on the new code. If you would be interested in participating as a presenter or attendee, contact Meghan Bokath at email@example.com.
Mark J. Riedy, executive director of the Burnham-Moores Center, was recently selected for the 2009 list of "Who's Who in America" due to his outstanding achievements in the real estate and banking industries. Riedy has been listed in "Who's Who in America" since 1982, and has also been listed in "Who's Who in the World."
Alan Gin was interviewed by Leslie Berestein of the San Diego Union-Tribune on how the city's economic woes affect Latino workers. The article appeared in the June 5 edition of the paper.
Norm Miller's study, "The Economics of Green," was cited in a June 6 article by Bill Harris of the Hartford Business Journal.
Norm Miller was interviewed by Kirsten Grind of the Puget Sound Business Journal on San Diego's mortgage crisis. The article appeared in the June 6 edition of the paper.
Alan Gin was interviewed by Mike Freeman of the San Diego Union-Tribune on San Diego's unemployment rate. The article appeared in the June 21 edition of the paper.
On June 26, Alan Gin's Index of Leading Economic Indicators, which he compiles for the Burnham-Moores Center for Real Estate, was cited in a North County Timesarticle, a San Diego Union-Tribunearticle, an article that appeared on the Voice of San Diego Web site and in an article that appeared on the 10News.com Web site. On June 30, an article on the same topic appeared in the San Diego Business Journal, and on the Cinncinatti.com Web site.
Alan Gin was interviewed by NBC 7/39 News on San Diego's struggling economy. The segment aired July 15.
Alan Gin was interviewed by Roger Showley of the San Diego Union-Tribune on the current housing slump. The article appeared in the July 16 edition of the paper.
Norm Miller was interviewed by Galia Myron of www.DemoDirt.com on the profit opportunities related to going green. The article was featured on the Web site July 23.
Norm Miller was interviewed by Rich Acello of San Diego Magazine on the real estate downturn in San Diego. The article appeared in the magazine's July issue.
Alan Gin was interviewed by Emmet Pierce of the San Diego Union-Tribune on foreclosures in San Diego. The article appeared in the July 23 edition of the paper.
On July 29 Alan Gin's Index of Leading Economic Indicators, which he compiles for the Burnham-Moores Center for Real Estate, was cited in a North County Timesarticle, a San Diego Business Journalarticle and in an article that appeared on the 10News.com Web site. On July 30, Gin was interviewed by Dean Calbreath on the same topic for a San Diego Union-Tribunearticle.
Breakfast at the BMC with Dr. Seek Ngee Huat Sept. 16, 2008
· 7:30 a.m. to 8 a.m. Breakfast and Networking, 8 a.m. to 9 a.m. Presentation and Q&A session, Joan B. Kroc Institute for Peace & Justice, University of San Diego campus. Register Now
Real Estate Alumni Honors Oct. 3, 2008, 5:30 p.m. to 7 p.m.
· Olin Hall patio, University of San Diego campus. For more information, contact Lauren Lukens.
Ninth Annual Residential Real Estate Conference Dec. 9, 2008
· Hahn University Center, University of San Diego campus
13th Annual Real Estate Conference Feb. 18, 2009
· San Diego Marriott Hotel & Marina
New Land Use and Sustainable Community Development Certificate First class: Managing the Entitlement Process
· Starts Sept. 4, 2008
· To register, contact Julia Chemers, or register online
For more information about this class or the new certificate program, go here.
Real Estate Finance, Investments and Development Certificate Next class: Introduction to Real Estate Finance, Investments and Development
· Starts Sept. 9, 2008
· To register, contact Jodi Waterhouse, or register online
For more information about this class or the certificate program, go here.