CRER Vol. 15 (2017)

Permanent URI for this collection

https://hdl.handle.net/1813/70563

Front matter:

Articles:

Program Articles:

Browse

Recent Submissions

Now showing 1 - 20 of 21
  • Thumbnail Image
    Item
    Alumni Highlight: Jinseuk Lee
    Kim, Simon (2017-06-19)
    Jinseuk Lee is the chief representative for Brookfield’s Private Funds Group in Korea. He graduated from Cornell in 2006. He has handled notable transactions at Samsung Life Insurance and Liberty Street Asset Management.
  • Thumbnail Image
    Item
    Alumni Highlight: Sandeep Chadha
    Jain, Tiya (2017-06-01)
    Sandeep Chadha is a Partner at Milestone Capital Advisors (AUM $800 million) and has 14-plus years of experience in fund raising, investments, asset management and divestments. As a part of senior management at Milestone, he oversees the private REIT portfolio including investments and asset management. Sandeep is responsible for setting up a domestic private REIT focused on investments in commercial assets. His past assignments include managing 25 million square feet of commercial real estate for Unitech and asset management of assets for Everstone Capital and IL&FS Milestone Realty.
  • Thumbnail Image
    Item
    Cornell Real Estate Women (CREW)
    Editors, The (2017-06-01)
    The Baker Program in Real Estate is proud to announce the formation of Cornell Real Estate Women (CREW) during the 2016-2017 academic year. CREW is Cornell University’s primary graduate and professional student organization dedicated to the promotion and advancement of women in real estate. The organization was founded with three primary goals: (1) to support members by providing ample opportunities to network and engage with female real estate executives; (2) to attract female speakers for the Baker Program’s Distinguished Speaker Series and other similar events; and (3) to increase the visibility of women in the Baker Program in Real Estate and in the professional real estate industry.
  • Thumbnail Image
    Item
    2017 Argus University Challenge
    Editors, The (2017-06-01)
    The Baker Program in Real Estate continued its success in national real estate case competitions over the past year with a second place finish in the 2017 ARGUS University Challenge. This was Cornell’s first time placing in the ARGUS competition in its six years of existence. Cornell’s team included two second-year students (Yang Yang and Yufei Wang), as well as three first-year students (Paul Heydweiller, Julin Yong, and Alejandro Santander). Professor Crocker H. Liu served as the team’s faculty advisor.
  • Thumbnail Image
    Item
    Alumni Highlight: Dylan Fonseca
    Willis, Harrison (2017-06-01)
    We are pleased to recognize Dylan Fonseca as a Cornell alumnus. Dylan Fonseca (MBA ‘12) is a founding member of Fondo Atlas, an owner and operator of real estate in Florida focused on direct asset level investments in retail and residential properties. Fondo Atlas focuses on strategic acquisitions and best-in-class financial reporting to its investors. Since their first acquisition in Q1 2015, Fonseca and his partners have grown the fund to control 300,000 square feet of retail space valued in excess of $70 million.
  • Thumbnail Image
    Item
    State Intervention to (Un)manage Growth
    Snider, Laura (2017-06-01)
    The classic dream of moving to a spacious, single-family home in the suburbs has led urban sprawl to become the standard pattern of American growth. Unfortunately, this type of growth—in the aggregate—has created a vast array of unintended consequences. From increased commuting times and traffic congestion to the degradation of ecosystems to the demise of the classic, American “Main Street,” sprawl has left its footprint on many facets of the environment and human life. Sprawl’s harms are often periodic and delayed, thus it is unlikely that the underlying issues causing and exacerbating the harms will ever be addressed. Further, as local governments predominantly regulate land use decisions, municipalities rarely, if at all, consider the statewide and regional harms their regulations may create in the aggregate.
  • Thumbnail Image
    Item
    Table of Contents
    (2017-06-01)
  • Thumbnail Image
    Item
    Fifteen Years of Rebuilding the World Trade Center
    Farrell, Matthew (2017-06-01)
    September 11, 2001 stands in history as one of the most tragic days this country has ever known. And nowhere was that tragedy felt more keenly than in New York City, where a senseless act of terrorism claimed the lives of thousands of innocent people and forever altered the city skyline. On that day, all 7 of the original World Trade Center buildings were destroyed, and over 12 million square feet of office space was converted to rubble. Fifteen years later, Ground Zero has undergone a transformation, and vitality and progress honor the memory of those who were taken.
  • Thumbnail Image
    Item
    Letter from the Editors
    Farrell, Matthew; Green, Matthew; Lathan, Robert; Willis, Harrison (2017-06-01)
    The Editorial Board of the Cornell Real Estate Review is pleased to present Volume 15 (2017). The Review strives to be a forum to advance discussions regarding topics in real estate and showcase the talents of students from the spectrum of academic disciplines at Cornell that make up the diverse range of subjects in the Real Estate Industry.
  • Thumbnail Image
    Item
    Megachurches: A Growing Community Anchor
    Wright, Daniel (2017-06-01)
    Real estate value reflects a factor of risk. Community risk inherently is captured in real estate value and is a composition of such elements as employment, income, and population growth (Carr, et al., 2003). These elements provide tenants to rent space and customers to buy products thereby increasing property value. The inverse, then, is true - that the decline of employment, income, or population will negatively impact value. Employment and population growth are accelerated with anchors. The term “anchor” in real estate denotes a use that provides stability and attraction that ultimately lowers risk and increases value. While there are commercial anchors such as large private corporations or retail centers, key community anchors come in the form of public or non-profit entities whose interest is in the long-term viability of the community. Anchors include schools, libraries, public halls, hospitals, and religious institutions. They provide important services to the community such as employment, interaction, communication, education, governance, health services, counseling, and moral teachings.
  • Thumbnail Image
    Item
    Editorial Board
    (2017-06-01)
  • Thumbnail Image
    Item
    The Impact of 3D Printing on Real Estate
    Mashian, Sean (2017-06-01)
    One of the most intriguing, and possibly disruptive, technologies now emerging is 3D printing. While still expensive and relatively unpolished, this new method of manufacturing products - from medical devices to airplanes - could be on a path to revolutionize retail, shipping, and the general need for space. Currently, 3D printing is most often used in the real estate industry as a way of creating scale models for new developments. As the technology grows and becomes more commonplace, there may be huge changes coming to real estate from this emerging technology.
  • Thumbnail Image
    Item
    Brexit: Its Passing and Reverberations
    Lathan, Robert; Green, Matthew; Chagani, Ershad (2017-06-01)
    The most significant financial and economic news story in 2016 was the June 23 decision of the British public to terminate the U.K.’s membership in the European Union. Polls and bookmakers in the days leading up to the vote had constantly maintained that, while the vote would be close, a “Brexit” was unlikely. As we now know, that position proved false. Financial markets around the world reacted quickly and sharply to the unexpected news.
  • Thumbnail Image
    Item
    Balancing Competing Corporate Objectives: The Case of Texmark Real Estate Company
    Zollinger, Morgan; Pamidimukkala, Ravikanth (2017-06-01)
    As William Sullivan walked to his car to begin the commute home after a long day at work, he considered the different options before him. As the CEO of the Texmark Real Estate Company (TexREC), Sullivan was concerned about the future of the company he had been leading for four years now. During this time, TexREC had enjoyed considerable success, nearly doubling the value of assets under management to $7.5 billion; however, the rapid growth also meant new challenges for the company. Sullivan was focused on finding new lines of business and untapped markets with the potential for high risk-adjusted returns, including potential expansion overseas if the right opportunity presented itself. Sullivan innately understood that finding the right talent to lead such initiatives was a crucial first step.
  • Thumbnail Image
    Item
    Survey Highlights: 2016 Institutional Real Estate Allocations Monitor
    Editors, The (2017-06-01)
    Cornell University’s Baker Program in Real Estate and Hodes Weill & Associates are pleased to present the findings of the fourth annual Institutional Real Estate Allocations Monitor (the “2016 Allocations Monitor”). The 2016 Allocations Monitor focuses on the role of real estate in institutional portfolios, and the impact of institutional allocation trends on the investment management industry. Founded in 2013, the Allocations Monitor is a comprehensive annual assessment of institutions’ allocations to, and objectives in, real estate investments. This report analyzes trends in institutional portfolios and allocations by region, type and size of institution.
  • Thumbnail Image
    Item
  • Thumbnail Image
    Item
    2017 Real Estate Industry Leader Award
    Editors, The (2017-06-01)
    Cornell University and the Baker Program in Real Estate are pleased to announce the recipient of the 2017 Real Estate Industry Leader Award: Jonathan Rose, Founder and President of Jonathan Rose Companies. Rose’s visionary leadership in the areas of sustainability and affordable housing have made him an icon in the real estate industry, and it is our privilege to recognize him with this award.
  • Thumbnail Image
    Item
    2017-2018 Treks: Dubai, Seattle
    Editors, The (2017-06-01)
    As it has been discussed and proven, real estate continues to be more than just numbers and financial statements. It involves people, places, and relationships. With that continued understanding, the Baker Program In Real Estate, which functions jointly between Cornell’s School of Hotel Administration, Art, Architecture, and Planning, and the Samuel Curtis Johnson Graduate School of Management will further its mission to provide graduate candidates focused in the commercial business of real estate, the best holistic education available by embarking on Inter-Session trips during the 2017-2018 Academic Year. As second year students prepare for their future careers, they will have the opportunity to study in Dubai over the course of a week, learning firsthand how the country has grown through domestic and international investment. First year students will continue the trend of visiting the city that hosts the fall ULI conference, traveling to Seattle, WA.
  • Thumbnail Image
    Item
    34th Annual Cornell Real Estate Conference Recap
    Green, Matthew; Spritzer, Jennifer; Chagani, Ershad; Mashian, Sean (2017-06-01)
    Every October, the Cornell Real Estate Conference draws together the real estate community of Cornell and other significant industry individuals to meet and discuss current issues in real estate. In 2016, the theme of the conference was Disruption in Real Estate. The central discussion was simple: as with many industries, the pace of change in real estate is accelerating. New technologies have affected every sector of real estate including property management, data analytics and investment sourcing.
  • Thumbnail Image
    Item
    Intercontinental Trek: South Korea
    Editors, The (2017-06-01)
    With an exciting revised curriculum highlighting the importance of the global economy in real estate, second year Baker students participated in the first intercontinental real estate trek from December 19-22, 2016. For this inaugural intercontinental trek, students visited Seoul, South Korea. On the evening of December 18, 2016, Baker students were hosted by the Alumni Association of the Baker Program in Real Estate - Seoul, South Korea chapter at Spark Plus Yeoksam. The keynote speakers from the organization included Chaewook Im ‘05, Executive VP of Genstar, and Sungmok Ryu ’01, CEO of Hwasung ENC, who spoke of their fondness for the program’s history and future. They reminisced on their time with previous Program Director, Brad Olson, whose inspiring remarks followed. Brad spoke of the genuine relationships he developed with the Korean alumni, and his desire to solidify the connection between Ithaca and Seoul.