Embed Size (px)
Citation preview
Volume 10, Issue 1, Winter 2017
The Indiana Real Estate Professional
The Indiana Real Estate Professional Page 1 www.kelley.indiana.edu/bcres
STUDENT LEADERSHIP: What some of our student leaders have to sayJames Alex Collins
HOMETOWN: River Forest, IllinoisMAJOR: Finance & Real EstateGRADUATION YEAR: May 2018SUMMER PLACEMENT: I do not yet have an internship for the summer of 2017. During the summer of 2016 I interned in
Allstate’s Investments Commercial Mortgages Department where I valued properties in Allstate’s current mortgage portfolio.LEADERSHIP ROLE: This year I am the Treasurer of the Real Estate Club and next year I will be Co-President.WHY REAL ESTATE? My passion and motivation to pursue a career in commercial real estate comes from the fact that it requires an individual to be analytical, creative, and probably most important, possess interpersonal skills. Real estate is dynamic in that it does not boil down to numbers on a financial statement. While the financials are vital to any successful deal, a real estate transaction requires a larger understanding of how a property positions itself in a market, and how it can be altered to enhance its position. A real estate professional must not only be practical, but they must also possess a vision for a property’s potential uses, and be able to convince buyers, city officials, and investors of that vision. I drive around Chicagoland and can’t help but think of the rents tenants are paying in particular neighbor-hoods, cap rates that should be applied to value certain properties, and potential tenants that could fill an open store front. My passion for real estate comes from knowing I possess the analytical skills that allow me to make smart investment decisions, knowing I am creative enough to have a vision for a property, and that I ultimately have the interpersonal skills to sell others on my vision. WHY KELLEY? What has stood out the most about my Kelley Real Estate Program experience is the passion that resonates through the program. It starts at the top with Professor McCoy’s passion for teaching and exposing stu-dents to the industry. The passion Professor McCoy brings permeates throughout the student body. His passion for the program leads its members to committing themselves to working hard in the classroom, participating in program events, and building relationships with one another. I have loved being a part of such a passionate educational pro-gram that has seen the growth of the Real Estate Club and Commercial Real Estate Workshop during my three years at Kelley. The program has not only provided a tremendous education, but also the opportunity to help shape the pro-gram for future generations and build relationships that will extend well beyond my collegiate years.
Courtney Sporleder
HOMETOWN: Greenwood,INMAJORS: Accounting & Real EstateGRADUATION YEAR: May 2018SUMMER PLACEMENT: Core Assurance Intern - PricewaterhouseCoopersLEADERSHIP ROLE: Director of Membership - Real Estate Club ; Incoming Co-President- Real Estate ClubWHY REAL ESTATE? Real Estate encompass-
es and touches all parts of society. It is constantly changing and requiring research and new innovation. The opportunity to be a part of changing society and creating new structures is both exciting and rewarding.WHY KELLEY? Within my Kelley real estate experience, I have had the ability to participate in a multitude of case competitions ranging on topics from private equity to real estate development. These cases require knowledge of all real estate concepts and help me master each concept with real life application.
Amanda Doster
HOMETOWN: Grand Rapids, MichiganMAJOR: Finance, Real EstateGRADUATION YEAR: May 2018SUMMER PLACEMENT: Intern, Eastdil Secured in SanFranciscoLeadership role: Co-President for 2017-2018 Commercial Real Estate Workshop WHY REAL ESTATE? Commercial real estate is a very broad term, and that’s what makes
it so exciting! It’s kind of like its own economy with sales people, capital sources, and supply/demand cycles. I am motivated by the endless opportunities commercial real estate provides and the important role it plays in so many business ventures. WHY KELLEY? There is a healthy level of competition be-tween students. There are always students who excel in cer-tain areas, and this drives me to continue to improve my own skills. However, it is simultaneously an extremely supportive community, and that’s pretty cool to be a part of!
ADVISORY BOARD MEMBER NEWSThe Center would like to acknowledge the acheivements and share the news of those on our Advisory Board
The Indiana Real Estate Professional Page 2 www.kelley.indiana.edu/bcres
doubt in our minds that we wanted to be a part of the Bloomington commu-nity,” said Sally Grant, executive vice president of Crew Carwash.
Crew is currently hiring for management positions as well as full and part-time associates at its new Bloomington facility. New employees earn a starting wage of $10 per hour, and applicable college students have the opportunity to take advantage of the Crew Carwash Tuition Assistance program, providing up to $2,500 per year. Candidates should be passion-ate about delivering exceptional customer service and eager to gain future leadership skills.
Hank Rassel Named President of Don R. Scheidt & Co.
Don R. Scheidt & Co., Inc. is pleased to announce that Hank Rassel, MAI has been named as president of the firm, effective January 1, 2017. Hank has been with the firm since 1992, and previously served as Executive Vice President and Director of Commercial Services for the past 20 years. Don R. “Randy” Scheidt, MAI, CCIM, FRICS has transitioned ownership to a group of long-time principals of the firm. Randy will remain with the firm as Director of Advisory and Real Estate Invest-ment Services. Don R. Scheidt & Company has office locations in Indianapolis, Lafayette and Columbus, IN; and provides primarily commercial and residential valuation services through-out the state of Indiana and surrounding states. Commercial brokerage and property management services will continue to be provided out of our Columbus, IN location. The principals of Don R. Scheidt & Co., Inc. include: Hank Rassel MAI, David Lawrence MAI, Doug Cooper MAI, York Pollert MAI (Director of Operations for the Lafayette Office), Jon Scheidt SRA (Director of Operations for the Columbus, IN office), Monty Ewing, and Shaun Wilson MAI.
Gene B. Glick Company Celebrates 70th AnniversaryOpening new Class A apartment community in Indianapolis
The Gene B. Glick Company celebrates its 70th anniversary this year. After initially building single-family homes during the post-WWII building boom, Glick turned to multifamily housing in the 1960s. Today, Glick is one of the largest privately owned real estate ownership, management and develop-ment companies in the U.S.
Glick’s latest project is River North at Keystone, a $60 million office and apartment project on Indianapolis’ north side that is home to the company’s new national headquarters as well as a 196-unit luxury apartment commu-nity, Quarry. Quarry is set to open its first units on March 1, with condo-quality finishes and resort-style amenities and easy walkable access to nearby shopping and dining at the Fashion Mall at Keystone. The company is also in the process of acquiring two additional apartment communities totaling more than 500 units during this 70th anniversary year.
Crew Carwash Opens New Facility in Bloomington
Crew Carwash, a long-standing Central Indiana carwash establishment, announces the opening of its newest location in Bloomington, Indiana. Located at 3430 W. 3rd St., the new facil-
ity is the company’s first location in Bloomington. This is Crew’s 29th location in Indiana. The new state-of-the-art $5 million facility will feature several new high-tech amenities, providing custom-ers with a more robust car cleaning
experience. Self-service dual hose vacuums will be available 24 hours a day, 365 days a year. The Bloomington location will also include new LED lighting, advanced soap and detergent delivering technology and an environmentally-conscious water reclamation system that cleans and reuses water during certain parts of the washing process.
In addition, the latest Crew Carwash facility has an exclusive automated lane, allowing customers who have purchased the “Unlimited Washes” monthly plan to bypass traditional lines for a quicker, hassle-free experience. “As we continue to grow our statewide footprint, there was no
Birge & Held Awarded Property Management Company of the Year
Tag Birge and Andrew Held are the founders of Birge & Held, B&H, a multi-family real estate and asset management company headquartered in Indianapolis, Indiana. Combined, the gentlemen bring over twenty years’ of real estate development and finance experience to the organization. Tag and Andrew are both graduates of Indiana University;
The Indiana Real Estate Professional Page 3 www.kelley.indiana.edu/bcres
ADVISORY BOARD MEMBER NEWS
(continued from page 2)
Tag graduated cum laude in 1993 with a Bachelor of Arts, B.A., in Political Science and Andrew in 1999 with a B.A. in History where he also excelled as a student-athlete, receiving academic All-American honors. Both men went on to receive their Juris Doctor degrees, JD. Tag attended the University of Virginia and Andrew gradu-ated from Indiana University’s School of Law. Under their leadership, B&H continues to expand into new markets, currently owning and managing 4,400 units, totaling over $450,000.000 in multi-family assets across the country. In 2016, B&H was awarded the Indiana Apartment Associa-tion’s “Property Management Company of the Year”.
Cripe Celebrates 80 with Growth and Expansion This year Cripe marks its 80th year as a proud Indiana design firm. From its incep-
tion as a survey firm Cripe has expanded to six main service lines with survey, civil and architecture still at its foundation. In addition, the Paul I Cripe Charitable Founda-tion (PICCF) marks its 30th year and donates its millionth dollar in community outreach in 2017.
Cripe’s success and longevity would not be possible without its dedicated and talented profes-sionals. As such, we are proud to
share the news of our two newest Professional Engineers – Civil De-sign Engineers Bob Gaffer, PE and Stev Pierre, PE. Our new year also began with four new hires starting in January - Alex Ray, Project Sur-veyor, Tyler Stenger, Field Surveyor and Jaclyn Altstadt, Civil Design Associate and James Hastings, Architectural Grad Intern and two
new hires starting in May – Civil Design Associates Susan Norris and Anders Franzon.
Bob Gaffer, PE
Stev Pierre, PE
on the formerly blighted site of the Wirk Garment Factory in Ligonier, IN. This community boasts a convenient downtown location, green building standards and six fully ac-cessible apartment homes for those with physical challenges. Finally, Arcadia Park is an acquisition and HKP’s first community in South Carolina. Located in Columbia, Arcadia continues our growth on the East Coast. HKP’s portfolio now consists of over 14,150 apartment homes and 500 team members in 18 states. Our growth means we have great career opportunities throughout the company. Please visit hermankittle.com/careers to see how you can grow with us!
Steve Hardin of Faegre Baker Daniels Represents IKEA and TopGolf
IU Center for Real Estate Studies Advisory Board Member and IU Kelley School of Business and Maurer School of Law gradu-ate, Steve Hardin, recently quarterbacked two significant projects in Fishers, Indiana. Hardin, a partner at Faegre Baker Daniels in Indianapolis, represented IKEA regarding the zoning, development and economic incen-tives for its $40+ million new store – its first location in Indiana. The new store is under construction and is expected to open later this fall. Hardin also represented TopGolf in its new $18+ million 3-story golf entertain-ment venue in Fishers, leading the TopGolf team to securing the required zoning and economic incentives.
Hardin is a 25-year veteran in the real estate development industry and one of Indiana’s top real estate attorneys. He provide strategic leadership in the development and redevelopment of retail, office, multi-family, industrial, residential and mixed-use projects. See more about Steven at http://FaegreBD.com/steve-hardin.
Herman & Kittle Properties Adds 597 Units to Portfolio
Herman & Kittle Properties, Inc. (HKP) of Indianapolis has added 4 properties, totaling 597 units, to its portfolio in the 2nd half of 2016. The Gables, is located in the heart of the highly desirable Indianapolis suburb of Greenwood. This amenity-rich community will be built according to the Enterprise Green Community standards, which will help contain costs for residents. Our Ashford Park community provide residents of Columbus, IN with a new housing choice with a modern appeal. Riverside Villas will be built
Hoosiers Impact HFF’s Growth
HFF, Inc. achieved record production volume of $82 billion (preliminary figures) in 2016, which represents 8% growth from 2015’s previous high of $76 billion. HFF successfully launched its U.K. office in January 2017. The opening of the London operation represents HFF’s 24th office location and the first outside of the U.S.
Since yearend 2006, HFF has increased its total headcount by 119%. IU alumni have been a meaningful part of this growth and currently have 14 Hoosiers in 5 office locations throughout the U.S., including Carolinas, Chicago, Dallas, India-napolis, and New York. Further to IU’s influence within HFF, 3 of the 24 offices are led by Hoosier alums.
The Indiana Real Estate Professional Page 4 www.kelley.indiana.edu/bcres
ADVISORY BOARD MEMBER NEWS(continued from page 3)
HFF is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliate, HFF Securities, offers clients a fully inte-grated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales, and commer-cial loan servicing.
GLP ESTABLISHES US$1.5 BILLION GLP US INCOME PARTNERS III
-GLP US Income Partners III to invest US$1.5 billion over three years - US$1.1 billion initial portfolio and identified pipeline assets from Hillwood - ~US$400 million mandate for further acquisitions in the US -Fully committed to six capital partners from Asia, US and Middle East -GLP’s approx. 10% stake expected to generate 13% ROE (including fees)
GLP, the leading global provider of modern logistics facilities, has established GLP US Income Partners III (“the Fund”) with total equity commitments of US$620 million. Six leading global institutional inves-tors from Asia, US and Middle East have committed for a stake of approximately 90%. GLP is the asset manager and will retain a stake of approximately 10% post-syndication.
GLP US Income Partners III is expected to invest US$1.5 billion2 over three years. In September 2016, GLP entered into a definitive agreement to acquire a US$1.1 billion US logistics portfolio from Hillwood. These assets will be held by GLP US Income Partners III. The initial US$700 million portfolio will be acquired in December 2016, with a further US$400 million of identified pipeline assets to be acquired in phases upon satisfaction of stringent lease-up metrics. As the asset manager, GLP has a US$400 million mandate for acquisi-tions in the US that satisfy the Fund’s investment criteria.
John Philipchuck Curates Real Estate Technoogy Panel at ULI Global Exchange Council
Innovators and entrepreneurs around the world are fundamentally reshaping the real estate ecosystem with game-changing technology. Augmented reality games are finding their way into real es-tate marketing budgets. Data scientists are infusing tools from bioinformatics and climate science with global real es-tate risk and performance analytics. Do we even need to mention the inevitable impact of autonomous vehicles and the Internet of Things (IoT) on real estate?
While scores of leading real estate companies are embracing tech-nological change, the industry is still full of “tech dinosaurs.” At the Urban Land Institute’s National Fall Meeting held in Dallas this past October, John Philipchuck moderated a technology-focused panel for the Global Exchange Council, a group of leaders who range from global investment heads to principals at leading architecture firms. Three panelists discussed recent trends ranging from data science and machine learning algorithms used in investment analytics to 3D visualization of space using Virtual and Augmented Reality technology to employees controlling temperature in their micro areas through cell phone apps that learn their preferences over time.
The impact of technology on real estate is unequivocally gaining momentum, and it will be important for all industry participants to un-derstand its potential to disrupt, but also to benefit from the potential value it can create.
Hunden Strategic Partners Grows in 2017
Hunden Strategic Partners continues to grow in the new year, and has recently announced former AECOM Economics Principal (and ’94 IU Kelley alum) David Stone will be joining HSP as Vice Presi-dent. Stone will work alongside Founder and President Rob Hunden. HSP is also pleased to welcome Derek Bratrud and Chris Block, both ’17 Kelley graduates, as new analysts this summer.
HSP grew revenue by more than 50 percent in 2016, with more than 55 studies conducted. Some notable projects in 2016 included a stadium and convention center study for the San Diego Chargers, an analysis for multiple Native American mega-casino and mixed-use complexes, mixed-use projects in downtown Columbus, Ohio; several sports studies in Florida, and a football stadium study for the University of South Alabama. HSP also worked on large mixed useentertainment-oriented projects in Texas, Chicago and California, not to mention several bourbon distilleries in Kentucky.
RESOURCE Commercial Real Estate Grows Office Group with Two New Brokers
RESOURCE Commercial Real Estate has recently grown in num-bers with the addition of two “Next Gen” Associate Brokers. Jordan Seabrook and Joshua Abrams have joined the Office Services Group and will expand the company’s services to clients in this specialty including local and national occupiers of commercial real estate. The new brokers will work closely with Sam Smith, Principal and Chair-
man, through the company’s mentoring program.
Prior to joining RESOURCE, Seabrook played professional soccer for seven years in the United States, Sweden and Finland. He earned his Masters of Business Administration degree from Indiana University’s Kelley School of Business in 2016. In addition, Seabrook has an undergradu-ate degree in Mass Communication-Journalism from the University of South Florida.
Abrams was previously a Technology Consultant at Sondhi Solutions in Indianapolis before joining RESOURCE. In this role, he provided technical expertise to Marion County’s government agen-cies and their clients. He is a graduate of Indiana University with a degree in Informatics.
The Indiana Real Estate Professional Page 5 www.kelley.indiana.edu/bcres
ADVISORY BOARD MEMBER NEWS(continued from page 4)
JC Hart Begins New Projects
J.C. Hart Company, Inc. has closed on a construc-tion loan provided by U.S. Bank to begin demoli-tion and construction of Penrose on Mass. This upscale development is located in the heart of Mass Avenue in downtown Indianapolis, across the street from the Old Na-tional Centre and north of the Athenaeum. The project will consist of 236 luxury apartments, 40,000 square feet of retail, and a 379 space parking structure. Construction started in January of 2017.
J.C. Hart Company has also acquired the former Rogers Pool property on Westfield Boulevard and will construct their 2nd multifamily project in Broad Ripple to be named The Line - Urban Flats on the Monon.The Rogers property has been owned
by the Blickman family since opening Rogers Swimming Pools there in 1959. The family has joined forces with J.C. Hart Company in a joint venture to build the project which will feature 130 studio, 1, & 2 bedroom flats. Demolition and construction will commence beginning in early summer of 2017. The Line will have spectacular views, fronting the Monon Trail to the west and with views of the
White River to the east.
In another joint venture, J.C. Hart is partnering with Old Town Development LLC to build an urban industrial style single-building project called Midtown Carmel Ur-ban Flats in the Mid-town redevelopment
area of Carmel. Located directly along the Monon Trail and walking distance to downtown Carmel and City Center, Midtown Carmel will consist of 209 studios, one, two and three bedroom flats.
with a built-to-suit in Atlanta. First Park 94, the company’s master-planned business park in the Keno-sha County submarket of Chicago, is a prime example of First Indus-trial’s platform at work. Developable up to 4.6 million square feet, First Industrial kicked off the Park with a $29 million, 601,000 square-foot facility that was completed in the second quarter of 2016. The building was successfully leased at completion and now serves as the distribu-tion home of Ariens Company, a leading manufacturer of outdoor power equipment for both consumer and professional use. First Industrial is currently constructing a 602,000 square-foot sister building at the Park that will be available for occupancy in Spring 2017.
First Industrial also added to its portfolio in 2016 with acquisitions in South Florida, Orlando, Southern California, and Indianapolis. First Industrial is a Chicago-based publicly-traded industrial REIT (NYSE: FR) with a total market capitalization of nearly $5 billion. Advi-sory Board member Johannson (Jojo) Yap serves as Chief Investment Officer and Executive Vice President of First Industrial. The company currently has an opening for an Investment Analyst. Interested parties are encouraged to apply by visiting the “Careers” tab at http://www.firstindustrial.com.
New Developments at First Industrial Realty Trust – and Acquisitions Too First Industrial Realty Trust wrapped up an active year of invest-ments in 2016, including launching more than $225 million of new developments. Across its national footprint, First Industrial’s new projects included speculative development of distribution facilities in Southern California, Phoenix, New Jersey and Chicago, along
TWG Development, LLC starts construction on The Park at Pulliam Square
TWG recently started construction on The Park at Pulliam Square, a $52 million dollar project located in the heart of downtown Indianapolis. The development is TWG’s largest to date. The Park at Pulliam Square is a 334 unit, 9 story luxury apartment development. The units will have unmatched views of the city and University Park, as well as the finest amenity package and features available in the downtown Indianapolis market. The property encompasses the city block once occupied by the Indianapolis Star. The project features top of the market interior finishes as well as resort style community amenities designed to cater to resi-dents every need. These include a state of the art fitness center, rooftop pool and lounge, and access to a connected, covered parking garage. The infill location of The Park appeals to those looking for convenient access to all Indianapolis’s major employment centers while maintain-ing a presence along Mass Avenue, one of Indianapolis’ most desirable neighborhoods.
TWG is a real estate development company specializing in commer-cial, market rate, affordable and senior housing developments. TWG was formed in 2007 to develop, own and manage housing communi-ties. Through its related entities - TWG Construction, LLC and TWG Management, LLC, TWG is able to see a development from concept to lease-up and stabilization. Visit: twgdev.com
Terry Tallen Receives IU Clevenger Award
California based entrepreneur and investor Terry Tallen has been named a recipient of Indiana University’s 2016 Clevenger Award. The Z.G. Clevenger Award is presented to living Hoosier athletic letter winners who, as alumni, have made outstanding contributions to Indi-ana University through service to its athletic program.
ADVISORY BOARD MEMBER NEWS
(continued from page 5)
The Indiana Real Estate Professional Page 6 www.kelley.indiana.edu/bcres
Coming to IU after a stellar high school career in Hamilton, Ohio, Terry distinguished himself as a football player, team leader and bowl champion in four seasons with the Hoosiers, 1977-1980.
A Kelley School of Business graduate with a double major in marketing/management and a minor in finance, Terry has enjoyed 35 years of busi-ness success as a corporate officer with several Real Estate Investment Trusts as well as a private business owner. For the last fifteen years, Terry has founded, owned and operated a successful privately held retail real estate investment platform. He is an investor in and formed a venture with West Coast based Gerrity Group, a large and well funded fully integrated privately held retail property platform. Terry is considered one of the lead-ing shopping center investors and developers in Northern California. His projects can be found throughout the Bay Area and Monterey Peninsula.
Terry has also been recognized for his philanthropy and volunteer work in California and at IU-Bloomington, he endowed and created the “Terry Tallen Football Leadership Scholarship,” a fully funded athletic scholarship granted annually to a football team captain enrolled in the Kelley School of Business. He also co-chaired and created the Holiday Bowl Championship Scholarship Fund.
Scannell Breaks Ground on New Facility
New Operations Will Handle Production for Riddell: A premier designer and developer of football helmets, protective sports equipment, head impact monitoring technologies, apparel and related acces-sories.
The North Ridgeville operations will be Riddell’s new home for assembly
of on-field football helmets and custom shoulder pads, and will serve as the company’s primary reconditioning plant. Additionally, Riddell will relocate its production of full-size collectible football helmets and distribu-tion of most football gear and apparel to the new facility. The new facility is expected to open in early 2017. Riddell’s new 347,205 square-foot facility will be located on 30 acres of property adjacent to the Ohio Turnpike in North Ridgeville. The construc-tion will require 12,500 cubic yards of concrete, which would be enough to fill about 400,000 football helmets. The development will use 1,000 tons of steel for the building support structure and when lined up lengthwise equals 65,000 linear feet or 216 football fields end to end. The new building will be temperature controlled to accommodate changes in the weather and will feature a fitness center, larger break and training rooms, additional storage and shipping/receiving access, and ample parking.
Buckingham Companies: New Projects and Team Addition
Buckingham Companies is in final stages of construction andslated to open Aertson Midtown on May 1st. A mixed-use development located in Nashville, TN, Aertson Midtown will include retail tenants, 16 floors of residences, and a Kimpton hotel located in the heart of Midtown. The project is comprised
of many features Buckingham has become known for including a positive environmental footprint, art, design, community impact, and culture.
The CityWay project in Downtown Indianapolis has made signifi-cant impact in the footprint of the central business district, which is why Buckingham Companies will begin construction on Phase II this summer. The project will include 350 units, retail space, and new residential amenities.Construction is now underway for north of the Central Library in Downtown Indianapolis. The Congress will include 110-units, retail space, a parking structure, and residential amenities. The Congress will be managed as a part of a residential neighbor-hood soon to be known as Library Square, which also includes The Plaza (30 units), and The Ambassador (62 units). This addition allows Buckingham Companies to increase their down-town footprint, which also includes 26 West (30 units), Harness Factory (100 units), Lockerbie Court (42 units) and Janus Lofts (23 units).
Buckingham Companies welcomed Chris Hentschel to the acqui-sitions and asset management team under Justin Brown. Chris graduated from the Kelley School of Business with a degree in Economic Consulting and Public Policy Analysis. He has previ-ous experience in multifamily investment brokerage at Colliers International, RCRE. With a background in real estate invest-ments, Chris focuses on multifamily acquisition, development opportunities, and market analysis for the Buckingham team.
The Indiana Real Estate Professional Page 7 www.kelley.indiana.edu/bcres
The Paul I. Cripe Charitable Foundation, Inc., along with case sponsors Faegre Baker Daniels and Nancy Hunt, is funding a series of case studies in honor of developer, Stanley E. Hunt, real estate developer and CEO of the Shorewood Corpora-tion. Hunt was a big proponent of helping young people in their careers and he did so asking nothing in return except that they do the same in the future.
Douglas M. McCoy, J.D., senior lecturer in real es-tate and Director of the IU Center for Real Estate, is overseeing the creation of the case study to be taught in the real estate appraisal and develop-ment course each fall semester. At the end of the semester, the student groups voted to have the best overall presentation for the development of the site will win a cash award. As part of the case study curriculum, professionals from the Bloom-ington community who have experience with the selected case study site speak to the class.The case series began in 2008 – we are now in our tenth year of the series and couldn’t be happier with the value this case has added to our real estate program. A large percentage of stu-dents in the real estate classes are interested in development and IU’s real estate program does not currently offer a class focused exclusively on this topic. This case study project provides students with highly valuable real world based learning in the area of real estate development.
Stanley E. Hunt Case Study 2016The ninth annual Stanley E. Hunt Real Estate Case Competition took place at the Virgil T.
DeVault Alumni Center on the Bloomington campus in November. The top four teams from the Real Estate Development and Appraisals class competed, proposing development plans for a real property located in Bloomington. This year’s site was the old “Chocolate Moose” site on South Walnut in downtown Bloomington. Real estate professionals were invited to speak in class throughout the semester to discuss their area of expertise as it related to the case site. Speakers were Randy Goodman and Mark Franklin, German American Bank; Steve Har-din, Faegre Baker Daniels LLP; Christy Langley, Planning Director, City of Bloomington; Mark Lauchli, President, Dwellings, LLC; and Dennis McGuire, Director of Real Estate, Cripe Archi-tects + Engineers.
The first place team, made up of Kristy Goh, Tyler Martin, Daniel Shepherd and Troy Shiley,
took home the $1000 prize. The team of Chris Block, David Friedman, Riddhima Kapoor, and Zacarias Moreno placed second, winning $750. Sam Antreasian, Kathryn Eischen, Caitlin Jinkins, and Hayden Johnson received the third place prize of $500.
Ninth Annual Stanley E. Hunt Real Estate Development Case Competition Complete
The winning Stan Hunt team with case sponsors. From left: Doug McCoy, Al Oak, Cripe Architects + Engineers; Troy Shiley, Daniel Shepherd, Fred Green, Cripe Architects + Engineers; Nancy Hunt; Dennis McGuire, Cripe Architects + Engineers; Steve Hardin, Partner, Faegre Baker Daniels; Kristy Goh; and Tyler Martin
Real Estate Club at Indiana University
The Indiana Real Estate Professional Page 8 www.kelley.indiana.edu/bcres
IU Bloomington President’s Update
The Real Estate Club at IU thanks the Indiana Univer-sity Alumni and the Advisory Board for the support we have received. As you may know, the club has a guest speaker for each meeting give a presentation to the members. We aim to have these presentations cover a broad range of topics and occupations and we want to thank all those who came down to Bloomington over the past fall semester and we appreciate the time you spent with us.
This past semester saw great success and we are proud of what we have accomplished. There are now over 100 members in the club with many regularly at-tending the meetings. The club has seen more interest from freshman at the student involvement fairs and we expect our numbers to grow even more throughout the spring semester.
The club once again had a successful set of events we hosted or attended. These events include the Fall Lun-cheon, Eisenberg Conference, and Cornell Case Com-petition. Many students wanted to attend these events with more demand than spots for each of the events.
During the fall the club held its second annual Club Case Competition. This case competition is geared towards the freshman and sophomores in the club and focuses on a property in Bloomington. The case has students performing multiple analyses on the property and giving an end recommendation on what should be done with the property. In its second year we saw a sharp rise in the amount of participants and interest in the competition.
For the upcoming semester we have four meetings with guest speakers, NAIOP Case Competition, the spring luncheon, and multiple conferences to which we are
looking forward. We expect to see high interest in all of the events and to perform well at the case competi-tion.
Once again, the Real Estate Club at IU would like to thank the IU Center for Real Estate, in particular Professor Douglas McCoy and El-len Stauffer, the Center’s Advisory Board, and the alumni for all of your effort, and for all of the opportuni-ties given to the Club and its mem-bers.
Troy Shiley, President,Real Estate Club at IU, Bloomington
FALL 2016 GUEST SPEAKERS
DEVELOPMENTDave Martin, VP of Development, Mainstreet
ENTREPRENEURSHIP PANELAasif Bade, President, Ambrose Property GroupJerry Gershman, Principal, Gershman PartnersSam Smith, Principal & Chairman, RESOURCE Commercial Real Estate
CORPORATE REAL ESTATE CEO PERSPECTIVEDavid O. Barrett, President & CEO, Gene B. Glick Company
CAPITAL MARKETSJeff Bramson, Senior Managing Director, HFF
Aasif Bade, Sam Smith, and Jerry Gershman.
Jeff Bramson with members of the IU Real Estate Club Executive Board.
David Barrett with members of the IU Real Estate Club Executive Board.
Real Estate Club - http://kelley.iu.edu/reclub
Commercial Real Estate Workshop -http://kelley.iu.edu/cre/
The Indiana Real Estate Professional Page 9 www.kelley.indiana.edu/bcres
Real Estate Club at Indiana University
(continued from page 8)
The IUPUI Real Estate Club continues to see growth in the Fall of 2016 as we expand to 50 active members and add one more executive position, Director of Communications, sophomore Savannah Lane. As IUPUI student interest in real estate and finance increases, our main goal remains boosting both membership and enroll-ment in the real estate courses. To date IUPUI offers three courses, Intro to Real Estate Analysis, Real Estate Apprais-als and Real Estate Finance & Investment Analysis and an independent study in Real Estate and Land Economics. It is ultimately the goal of the club to increase membership and course enrollment to support the addition of the Real Estate Law course and the Major. Throughout Fall 2016 Club activities focused on Brokerage,
Investment Sales and Capital Markets. As we approach the Spring Semester we will expand on this to introduce topics in Development, Asset Manage-ment and Financial Analysis. For the first time, IUPUI is proud to announce that the Club will also be competing in the NAIOP University Challenge.
The club continues to offer great opportunities to the students of Kelley Indianapolis and connect with IU Real Es-tate Alumni in the Indianapolis area. The new year also brings new opportunities as members of the club will also have the chance to tour some great new developments in the Indianapo-lis area.
Stephan Arsich, PresidentReal Estate Club at IUPUI
IUPUI President’s Update
IU and IUPUI students viewing a presentation by Magellan Development at the VIsta during Eisenberg Career Day. IU and IUPUI students on a site visit in downtown Chicago as part of
Eisenberg Career Day.
Dave Martin with members of the IU Real Estate Club Executive Board.
Students before a Real Estate Club meeting.
Fall 2016 IU Real Estate Luncheon & Career Fair Recap
The Indiana Real Estate Professional Page 10 www.kelley.indiana.edu/bcres
Recruiting Reminder:
Recruiting for internships and jobs is underway. Send your internships and jobs to [email protected]
The topic of real estate brokerage industry mergers and consolidations took center stage at our fall luncheon in September with Sam Smith, Principal & Chairman of RESOURCE Commercial Real Estate, and Dan Spiegel, Executive VP, Operations, Colliers International, Chica-go, speaking. Philip Powell, Associate Dean of Academic Programs, Kelley Indianapolis, provided a Kelley update on behalf of the Dean’s Office.
The luncheon once again sold out, as did the career fair with 21 companies in attendance. Over 60 real estate students from both IU and IUPUI attended seeking jobs or internships.
The next luncheon and career fair will take place February 17th, 2017, again at Meridi-an Hills. To accomodate a larger group, we’ll be hosting our September 2017 luncheon at a larger venue, TBD.
The Indiana Real Estate Professional Page 11 www.kelley.indiana.edu/bcres
UPCOMING EVENTS IU Real Estate Luncheon & Career Fair -Friday, February 17thSpeaker: Maureen Krauss, Chief Economic Development Officer, Indianapolis Chamber of Commerce
Chicago Alumni Network Luncheon-Tuesday, February 21st Speaker: Tim Ellsworth, Managing Director and Head of Real Estate Transactions, Americas, Deutsche Asset Management
Chicago Real Estate Alumni Dinner-Friday, April 7th
IU Real Estate Alumni & Friends Dinner-Thursday, April 27thJeffrey D. Fisher Real Estate Legacy Award Recipient: Joseph I. Neverauskas, Sr. VP, Equus Capital Partners
IU Real Estate Alumni Network Golf Outing-Friday, April 28th
On homecoming weekend 2016 the Center held its first ever Advisory Board Dinner on the IU campus, an event exclusively for Advisory Board members and their guests along with IU real estate and Kelley faculty. The event allowed members, some of whom had never met, to get better acquainted. Laureen Maines, Executive Associate Dean of the Kelley School, gave an introduction and John Holloway and Nick Kanich, both Advisory Board members and coordinators for our Indianapolis and Chicago Alumni networks, respectively, spoke about the efforts of the Alumni Network. The presidents of the IUB, IUB MBA, and IUPUI Real Estate Clubs also spoke to the group.
IU’s own men’s acapella group, “Another Round”, made a surprise appearance and per-formed for the group during the dessert course.
Inaugural Advisory Board Dinner included surprise performance and networking among members
The Indiana Real Estate Professional Page 12 www.kelley.indiana.edu/bcres
IU Real Estate Alumni Network iurean.com [email protected]
The Alumni Network hosts alumni events across the country to facilitate and coordinate networking between alumni and students with the goal of creating one of the strongest real estate alumni networks in the country.
New Alumni Coordinator in Los Angeles & Game Watch February 21st
Bryce Tobias is the lead Acquisition Ana-lyst at Alden Capital Partners in Los An-geles. Mr. Tobias works with the Acquisi-tions group in underwriting and structuring affordable multifamily hous-ing development projects; placing tax credit equity, bond financing and non-traditional debt sources in projects across the U.S. and territories. Bryce graduated from the Kelley School of Business in May 2015 with a BS in Fi-
nance and Real Estate Finance. While at IU, Mr. Tobias was active in the Real Estate Club and was a member of the case competition teams that traveled in Chicago and New York.
The LA group will be hosting an IU Game Watch on Febru-ary 21st at S.F. Saloon, 11501 W. Pico Boulevard. For more information and to be added to the LA email list, contact Bryce: [email protected].
Denver Group to Host Spring Alumni Event
The Denver Alumni Network will be hosting an event in the spring with the IU Alumni Association. The date is TBD. Be on the lookout for the invi-tation. If you are in the Denver area and want to make sure you’re included on the invite, please email Denver coordinator, Bryon Stevenson at [email protected].
Join the LinkedIn GroupIU Center for Real Estate
Save the Date! IU Real Estate Alumni Network will host its 5th Annual Golf Outing April 28th
The 5th Annual Golf Outing will take place on Friday, April 28th, the day after the IU Real Es-tate Alumni & Friends Dinner. The golf outing will take place at the Golf Club of Indiana. For more information and to register please visit the iurean website’s golf outing page: http://www.iurean.com/2017-golf-outing or email John Holloway at [email protected].
IU Real Estate Homecoming Tailgate
The IU Real Estate Alumni Network hosted the 2nd annual Homecoming Tailgate that was an opportunity for alumni, students, and faculty to network and cheer on the Hoosiers. We look forward to 2017 and support the team towards 3 straight bowl games. Go IU!
New York Group November Event Recap
On November 15, 2016 over 40 IU real estate profession-als in the NYC area attended a happy hour event in Man-hattan. They were joined by 12 students and Professor Doug McCoy after the Cornell Real Estate Case Competi-tion. Students were able to mingle with IU alumni from various real estate organizations including, Natixis Real Es-tate Capital, Ladder Capital, MetLife Investments, Modern Spaces, Freddie Mac Multifamily, Cushman and Wakefield, First American Title, PWC, Brookfield, Hospitality House, CBRE, Meridian Capital Group, Berkadia, W Financial, JP Morgan and many others.
To be added to the distribution list for upcoming NYC IU real estate events, please contact Michael Zaremski or Deepak Hadpawat.
Or visit the LinkedIn page and request to join: https://www.linkedin.com/groups/8431768
John Holloway and Nick Kanich speak about the Alumni Network atthe Advisory Board Dinner.
The Indiana Real Estate Professional Page 13 www.kelley.indiana.edu/bcres
IU Real Estate Alumni Network
The Chicago group’s August 3rd networking event was well attended with over 65 alumni present. The event was held and Pearl Tavern on the River and a number of new connections were made.
CHICAGO REAL ESTATE ALUMNI LUNCHEON FEBRUARY 21ST
The Chicago group will be hosting a luncheon with Tim Ellsworth of Deutsche Asset Management To hear about Tim’s recent acquisitions, his view of the market and what he sees on the horizon for real estate. on Tuesday, February 21 from 11:30 - 1:30 at Petterino’s Restaurant. To register, visit https://www.eventbrite.com/e/luncheon-with-tim-ells-worth-of-deutsche-asset-management-tickets-31166275168 or email Nick Kanich, Chicago Alumni Coordinator at [email protected].
Alumni Network Coordinators
INDIANAPOLIS & NATIONAL: John Holloway [email protected]
ATLANTA: Tom Schmitt [email protected]
BOSTON: Andrew Mahr [email protected]
CHICAGO: Nicholas G. Kanich - [email protected]
DENVER: Bryon Stevenson [email protected]
EVANSVILLE: Christopher M. Folz - [email protected]
LOS ANGELES: James Crowder & Bryce Tobias - [email protected] [email protected]
NEW YORK:Deepak Hadpawat & Michael Zaremski [email protected]@berkadia.com
PHOENIX AREA: Jim Dickson [email protected]
SAN FRANCISCO: Jimmy Hessing [email protected]
SOUTH FLORIDA: Denyse O’Grady [email protected]
SOUTHWEST FLORIDA: Matthew Petra [email protected]
WASHINGTON, D.C. AREA: John P. Doan, [email protected]
Chicago Alumni Network: August Event a Success and February Luncheon on the Horizon
CENTER CONTACTS
Douglas M. McCoy, JD Director
Senior Lecturer in Real [email protected]
Ellen Stauffer Assistant Director
AFFILIATED FACULTY
Jeffrey D. Fisher, Ph.D. Founder, Professor Emeritus
Victor Bongard Lecturer in Real Estate
Chris CockerhamLecturer in Real Estate
Ryan EibenVisiting Assistant Professor
Mark M. LevinClinical Associate Professor
SPEA
Tom Peck Lecturer in Real Estate
John SnellAssociate Faculty, IUPUI
Dan Hampton, Market PresidentHorizon Bank
Steven D. Hardin, PartnerFaegre Baker Daniels, LLP
John C. Hart, Jr., PresidentJ.C. Hart Company, Inc.
Jack Hennessey, Senior Vice PresidentGLP U.S. Management LLC
Steven T. Holland, CRI, Vice PresidentOneAmerica
David B. Keller, Senior Managing DirectorHFF
Loren P. King, CEOTrinitas Ventures, LLC
Chris Kirles, Principal & President of ConstructionFlaherty & Collins Properties
Jeffrey L. Kittle, PresidentHerman & Kittle Properties, Inc.
Wilhelm Kreuzer, PrincipalTartan Realty Group, Inc.
Michael C. Lady, MAI, SRA, CCIM, MRICS, Mng. Dir.Integra Realty Resources, Indianapolis
Steve LaMotte, Jr., CCIM, Sr. VPCBRE Multi-Housing Group
W. Kent Manuel, PartnerKatz Sapper & Miller
Douglas M. McCoy, FounderGrant Properties
Thomas K. McGowan, President & COOKite Realty Group Trust
Barbara A. McKenzie, Executive DirectorPrincipal Global Investors
J. Timothy Morris, FounderProprium Capital Partners, LLC
Joseph I. Neverauskas, CRE, Sr. VPEquus Capital Partners, Ltd.
Thomas Peck, Executive VP –Real EstateHageman Group
Michael F. Petrie, CMB, PresidentPR Mortgage & Investment Corp.
Wes Podell, Senior VP, DevelopmentPK Partners
Hank Rassel, MAI, PresidentDon R. Scheidt & Co., Inc.
Rick Roethke, CEOBarrington Investment Company, LLC
Michael Schwartz, Esq., Principal, Real EstateRSM US LLP
Ralph I. Shiley, Managing Dir., PrincipalScannell Properties
Kyle Shoemaker, Managing DirectorAffordable Housing Investment Brokerage, Inc.
Samuel F. Smith, II, Chairman, PrincipalResource Commercial Real Estate
Jeffrey S. Sporleder, CFOREI Real Estate Services, LLCJeremy Stephenson, PresidentMilhaus Development, LLC
Stephen E. Sterrett, Exec. VP & CFOSimon Property Group
Terrence Tallen,CEO & PresidentTallen Capital Partners, LLC
Rebecca Wells, CCIM, Exec. VP, Captial MarketsJones Lang LaSalle Americas, Inc.
Chris Yeakey, Market LeaderCushman & Wakefield
Darrell E. (Gene) Zink, Jr., Chairman & CEOStrategic Capital Partners, LLC
Associate Level
Aasif Bade, PresidentAmbrose Property Group
Richard W. Block, PresidentParagon Realty, LLC
Duane Bobeck, PresidentBobeck Real Estate Company
Dennis M. Dye, PrincipalThe Whitsett Group
Erik Foster, Principal –Capital MarketsAvison Young
Bruce Habig, Managing DirectorNatixis Real Estate Capital LLC
Rob Hunden, PresidentHunden Strategic Partners, Inc.
Wayne F. Johnson, II, MAI, RM, PresidentFirst Appraisal Group, Inc.
Keith Kleinmeier, CEO & PresidentTenant Tracker & Retail Realty, Inc.
Charlie E. Podell, Senior VPDuke Realty Corporation
Matt Stavroff, PresidentStavroff Land & Development, Inc.
Johannson Yap, CIO & Executive Vice PresidentFirst Industrial Realty Trust, Inc.
Contributor Level
Valerie Dye, AnalystM3 Capital Partners
John Holloway, Director of LeasingThe Cellular Connection
Nicholas G. Kanich, Director, Capital MarketsCushman & Wakefield
John M. Philipchuck, Assistant Vice PresidentHarrison Street Real Estate Capital, LLC
Justin Yap, Analyst M3 Capital Partners
1309 East Tenth StreetBloomington, Indiana 47405
Phone: 812/855-7794
Our Mission: To further the excellence of the IU Real Estate Program by supporting academic excellence, facilitating industry involvement, encouraging life-long relationships, and inspiring impactful service.Our Vision: To produce a community of outstanding commercial real estate leaders by providing excellence in an integrated educational platform that merges relationships, academics, and practice.
Advisory Board
Partner Level
David O. Barrett, President & CEOGene B. Glick Company, Inc.
Alex D. Oak, Chairman & CEOCripe Architects & Engineers
Director Level
Rex M. Barrett, Executive VPBarrett and Stokely, Inc.
Taggart Birge, PresidentCornerstone Companies, Inc.
Bradley B. Chambers, President & CEOBuckingham Companies
Mike Curless, Chief Investment OfficerPrologis
Bill Dahm, CEOCrew Carwash, Inc.
Mark Denien, EVP, CFODuke Realty Corporation
John P. Doan, Managing PrincipalJPD Real Estate Investment Consultants
Jeffrey D. Fisher, Ph.D., PresidentHomer Hoyt Institute
Donald Haber, Managing DirectorLadder Capital
