News from The Real Estate Center

Ray Milnes Joins Faculty as Executive in Residence

Graduate Students Participate in REITWise Conference

Research News: Credit Constraints for Small Multifamily Rental Properties

March Neighborhood Dine Around

Ray Milnes Joins Faculty as Executive in Residence

Ray Milnes, left, with graduate student
James Waller

Ray Milnes, who recently retired from a long career as a partner at KPMG, will spend part of his retirement as an executive in residence with the Real Estate Center. Milnes is not unfamiliar with the work of the Center. When he was with KPMG, a sponsor of the Center, he acted as the company's representative to serve on the Executive Committee and guide the direction of the Center's professional and academic program and activities. In his new role as executive in residence, Milnes will help with academic coursework and will also work with faculty and staff to create and implement an undergraduate, non-academic program that will help students develop the professional skills they'll need outside of the classroom. The new program will include exercises in networking, resume writing, career planning, interviewing and business etiquette.

Graduate Students Participate in REITWise Conference

As part of the Real Estate Center's travel scholarship program, six students were able to attend the 2012 REITWise annual conference held in Hollywood, Florida March 21-23. This conference provides attendees with a broad, yet focused educational program that presents a clear picture of current political, economic and market events that impact legal, financial and accounting operations within REITs and publicly traded real estate companies. Participating in the conference also gave students the opportunity to network with senior-level real estate professionals and make connections that will help them as they advance through their own careers.

Scholarship recipients Christine Maksimovic, Nicole Drewery and James Waller network at REITWise

The travel scholarship provides funding for airfare, conference registration, hotel and incidental expenses. The students who attended the conference are: Nicole Drewery, Christina Maksimovic, Adam Short, Benjamin Paolone, James Waller and David Keane.

Scholarship recipients, front row: Nicole Drewery and Christina Maksimovic. Back row: Adam Short, James Waller, Ben Paolone and David Keane

Research News: Credit Constraints for Small Multifamily Rental Properties

Geoff Smith

The Institute for Housing Studies (IHS) released a new working paper co-authored by DePaul University's James D. Shilling, the Michael J. Horne Chair in Real Estate Studies and Jin Man Lee, Research Director at the IHS, that highlights the challenges investors in and owners of small multifamily rental properties (buildings with between 10 and 49 units) face when attempting to access sufficient credit for acquisition, rehabilitation, or refinancing. The research summary brief can be found here and the academic working paper is here.

In addition, the Chicago Tribune Business section featured a related story in Thursday's March 29th issue and quoted Geoff Smith, the IHS executive director, along with James Shilling.

March Neighborhood Dine Around

The Real Estate Finance Forum, a Sustaining Sponsor of the Real Estate Center, hosts an annual March Neighborhood Dine Around event, an informal gathering of REFF members that provides an opportunity for networking while getting acquainted with a new Chicago neighborhood. One of the dinners, held on March 22, was co-hosted by Meredith O'Sullivan and the Real Estate Center director, Susanne Cannon, at her River North home. Cannon is also an active member of REFF.

REFF members enjoy the event

Join the Conversations on the Real Estate Center Social Networking Websites

You no longer have to wait for our monthly newsletter to be up to date with the Real Estate Center. The Real Estate Center has recently joined the social networking movement on both Facebook and LinkedIn. Join these groups to receive up to the minute information about the Real Estate Center.