Alumni News & Events
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Alumni/ae News
Tony Feng Wins Thesis Award for PPA Analysis Tool
Posted November 2, 2010
MIT/CRE graduate Tony Feng '10 has won the 2010 Thesis Award from the MIT Alumni Association for the Center for Real Estate (AACRE) sponsored by New Boston Fund. Entitled "Property-Level Performance Attribution (PPA): Demonstrating a Practical Tool for Real Estate Investment Management Diagnostics," Feng's thesis explores the real-world application of PPA analysis and demonstrates its potential as a tool for a firm to judge the strengths and weaknesses of its investment management approach. Read abstract.
Gala Caps 25th Anniversary Celebration
Posted October 23, 2010
MIT/CRE capped its 25th anniversary graduation weekend on Saturday, October 2, 2010, with a black-tie gala at Boston's InterContinental Hotel. Over 280 alumni, students, faculty, administrators, friends, and founders gathered for an evening of dining, dancing, and reminiscence. Highlights included the presentation of MIT/CRE's Visioneer Award to Jonathan Rose, Google, and to the Center's founder Charles “Hank” Spaulding. Read article...
Volunteer Alums Make 25th Anniversary Weekend Possible
Posted October 1, 2010
The Center's 25th Anniversary weekend wouldn't have been possible without a "volunteer brigade" of dedicated alums helping to make it a reality. In the run-up to our gala weekend, we saluted each of these generous volunteers -- David Cohan '92, Jane Seiden '88, Oliver Carr '92, and Larry Ellmam '92 -- with a life sketch in the spirit of the classic Dewar's Profile series. See profiles...
Alum's Development Blog Scores New York Times Feature
Posted August 20, 2010
Three years ago this month, Alison Novak '06 began a remarkable weekly blog — setting out to chronicle her company's development of the "Third and Bond" residential project in Brooklyn from start to finish. As Senior Project Manager, she reported on the process in candid detail — successes and setbacks — offering a level of transparency that not only won over many critics, but also helped sell units. Read New York Times feature article.
Grads Win 2nd Award for Thesis Research
Posted August 11, 2010
Alumni Ben Bulloch '09 and John Sullivan '09 have been awarded the "ING Most Outstanding Article by a Graduate Student Award" from the Cornell Real Estate Review. The journal invited them to submit a paper after learning about their MIT/CRE thesis — entitled Application of the Design Structure Matrix (DSM) to the Real Estate Development Process — a thesis that previously won the Annual Thesis Award co-sponsored by the New Boston Fund and MIT's Alumni Association of the Center for Real Estate (AACRE). Read MIT/CRE profile of the grads & their work, as well as Cornell RE Review article.
David Marvin '89 in Atlanta Business Chronicle's Who's Who in Hospitality 2010
Posted July 16, 2010
MIT/CRE alum David Marvin '89 -- founder, owner, and president of Legacy Property Group -- is listed in the Atlanta Business Chronicle's Who's Who in Hospitality 2010. Marvin and his firm were cited especially for their leadership in the revitalization of downtown Atlanta, developing numerous downtown hotels and restaurants. Marvin and Legacy have been recognized by Hilton Hotels Corporation as their Multi-brand Developer of the Year.
AACRE Annual Real Estate Symposium Forecasts Market Stabilization by End of 2011
Posted May 18, 2010
On the morning of May 7th, the MIT Center for Real Estate Alumni Association (AACRE) held its annual Real Estate Symposium, featuring opening remarks from Jones Lang LaSalle CEO of the Americas, Peter Roberts, and keynote speaker, Congressman Barney Frank. A distinguished panel of experts from industry, government and academia offered their perspective on the changing real estate landscape by examining the balance between government intervention and private capital as well as emerging policy-driven opportunities. Learn more...
AACRE Hosts Graduate Real Estate Case Competition
Posted April 16, 2010
The Alumni Association of the MIT Center for Real Estate (AACRE) hosted a graduate real estate case competition at the Prudential Center in Boston on April 15. Teams of three to four full-time grad students received a brokers packet for a building or development site in Boston, then spent the next 48 hours creating an Excel-based proforma and determining an acquisition price. Harvard University's Graduate School of Design team won First Prize. Read more...
Recession No Obstacle for Entrepreneurial Grads
Posted January 8, 2010
Is now the right time to launch a new real estate services firm? It's the perfect time, according to MIT/CRE 2009 grads Bryan Lee, John Sullivan, and Mike Tilford, whose Boston-based startup AspinWall Partners set sail in 2009, a venture that began at a Bar-B-Q hosted by Tod McGrath. Read full story.
A Complex Job Just Got Simpler
Posted December 23, 2009
It's no news to a real estate developer that his or her job is complex. What is news is that the job can now be simplified substantially with a tool long used in an entirely different industry. Called the Design Structure Matrix (DSM), the tool has been applied for the first time to real estate development by MIT/CRE grads Alumni Ben Bulloch '09 and John Sullivan '09 in their award-winning thesis. Read full article...
Thanks to All Alums Who Helped Make Fall 2009 a Success!
Posted December 2009
The Center is deeply grateful for the support we received from alumni/ae this past fall. You participated in the Real Estate Development, Leadership, and Entrepreneurship classes, acted as points of contact for current students as "Alumni/ae Connectors," and provided ideas as we began planning for our 25th Anniversary. You have also offered career guidance as part of the Center's Career Development Program, as well as services and support to one another through AACRE. You helped with recruitment by serving as alumni/ae hosts and Open House panelists, and last, but not least, you have supported the Center financially. For all of these acts of generosity, we would like to say a profound "Thank You!" For a complete list of these alumni/ae supporters, click here.
2009 AACRE Spring Symposium: "Is There Light at the End of the Tunnel?"
Posted March 30, 2009
Everyone in real estate is asking, but on Friday, April 24th, some of the best minds in the field will answer the question, "Is there light at the end of the tunnel?" Top researchers, economists, and industry practitioners will come to MIT for a half-day symposium addressing challenges and opportunties in the current market. Register for AACRE's Spring Symposium.
Better Off Renting? Professor Fisher Presents New Research
Posted December 4, 2008
In a talk sponsored by AACRE in the Brown Bag Lunch series, Professor Lynn Fisher shared her new research which questions the widely-held belief that home ownership is always preferable to renting. Specifically, her work shows that those who own homes tend to earn lower wages because they are less mobile, and so are not as responsive to changes in labor market demand. Learn more.
Guma Wins Award for Real Options Thesis
Posted December 5, 2008
MIT/CRE graduate Anthony Guma '08 has been selected to receive the 2008 Thesis Award from the MIT Alumni Association for the Center for Real Estate, sponsored by New Boston Fund. Entitled "A Real Options Analysis of a Vertically Expandable Real Estate Development," (pdf, 2.5M) Guma's work researches the value and feasibility of developing urban sites with the option to add more space vertically in the future. Read full article.
David Marvin '89 Wins Hilton's "Multi-Brand Developer of the Year" Award
Posted November 18, 2008
As noted in the Atlanta Business Journal's October 31 issue, the Hilton Hotels Corporation recently named David Marvin the Hilton Multi-Brand Developer of the Year. Honored as the developer behind the 242-room Hilton Garden Inn Downtown Atlanta at Centennial Olympic Park, as well as the Doubletree Hotel Atlanta Northlake in Tucker, Marvin is President and CEO of Legacy Property Group.
What Bear Market?! For Dave Paladino '00, Now Is the Time to Grow
Posted July 16, 2008
Entrepreneur Dave Paladino '00 sees only growth in his future. As featured in the Midlands Business Journal, his Omaha-based Landmark Management Group focuses on single family housing; his Dino's Storage is an expanding network of self-stowage facilities. The two are growing synergistically in the current downturn market. "The self-storage business is insulated from the economy in general," Dave said. "If people aren't moving into bigger houses, they have to put [their possessions] into storage. Nobody wants to throw anything away." Read article (pdf, 530K).
Colin Riley '00 Featured in Caribbean News
Posted June 13, 2008
On June 4th, Colin Riley '00 teamed up with the University Centre in Montserrat to offer a public lecture highlighting real estate opportunities for small investors. The lecture gave special attention to the value that real estate development could bring to Montserrat in a post-disaster context. Download article (pdf, 13K) or read online at CaribbeanNetNews.com.
2008 AACRE Spring Symposium Features Keynote Bill Wheaton, Who Assures of Coming Recovery
May 16, 2008
A recovery of the real estate market is "in the works" — that’s the good news from William Wheaton, MIT/CRE Professor of Economics. Wheaton shared his news as keynote speaker for the annual AACRE spring symposium, which on May 16th drew a large crowd of real estate professionals, alumni, and students to the MIT Faculty Club. Along with his upbeat forecast, Wheaton stressed that when and how the recovery will occur still remain to be seen. Read full article.
Heather Smith Fellowships for 2008 Awarded to Ai Kong and Yali Wang
Posted April 28, 2008
At a benefit/reception held at The Finale in Boston on April 28th, Ai Kong and Yali Wang were named to receive the Heather Smith Memorial Fellowships for 2008. Their awards bring to twelve the total number of fellowships presented since the program's inception. Find out more about the awardees and learn about the Fellowship.
Roberta Sydney '88 Profiled in Boston Herald Feature
April 1, 2008
"If you think Roberta Sydney was just handed real estate development and management company Sydney Associates by her dad, you’d be wrong. But if you think she carries on his tradition of being honest, decisive and trustworthy, you’d be right." Download article (pdf, 22K) or visit bostonherald.com.
Randy Nichols '89 Breaks Ground on Denver's "Spire"
May 15, 2007
Denver developer and MIT/CRE graduate Randy Nichols '89 broke ground on The Spire, a $175 million, 41-story project projected to be the tallest residential tower between Chicago and Las Vegas when it opens in 2009. Located across from the Colorado Convention Center, the Spire will stand 483-feet tall, and will include 503 condos with 10-foot ceilings, and 602 covered parking spaces. It will be a "green" building, with a Leadership in Energy and Environmental Design (LEED) designation. Read more: download article (pdf, 33K) or view online.
AACRE/ ULI Sustainable Real Estate Symposium
May 11, 2007
In response to the growing need for environmentally sustainable (green) building, the Alumni Association of the Center for Real Estate (AACRE) and the Urban Land Institute (ULI) presented a joint sustainability symposium. Reflecting the real estate industry's increasing interest in environmental impact, the rising cost of energy, and the mounting evidence of the benefits of building green, the program agenda explored how operators, investors, and developers can build, renovate, and operate sustainably. Read a review.
Heather Smith Fellowships Awarded for 2007
February 26th, 2007
Three women in MIT/CRE's Class of 2007 were named today to receive the Heather Smith Memorial Fellowship, bringing to ten the total number of awardees. Nadia Di Carlo, Marianne Ganster, and Katie Nash were chosen based on factors that included financial need and outstanding career promise. Find out more about the awardees and the Fellowship.
Frank Killilea '97 Launches Stratton Development Management
January 31, 2007
Alumnus Frank Killilea '97 has formed a new company that provides project management services to New England real estate developers, corporations, and tenants. Based in North Andover, Massachusetts, Stratton Development Management (SDM) provides end-to-end project management services for real estate developments, but can also focus on specific phases — feasibility, acquisition due diligence, entitlements, construction management, and more — with customized solutions. Read press release (pdf, 28K).
Tarpon Rising: Enhancing the Built Environment with Art
Posted December 2006
MIT Center for Real Estate alumnus David Marvin (MSRED ’89) recently commissioned a major public art project for the Embassy Suites Hotel that his firm developed in downtown Atlanta as a way of tipping his hat to the hotel’s new neighbor, the Georgia Aquarium. Created by artists Ralph Helmick and Stuart Schecter of Newton MA, Tarpon Rising hangs in the hotel atrium, a towering space that offers a long view of the suspended sculpture lit from above by continuous skylights.
Columbia CEO Oliver Carr '92 Announces Merger with JP Morgan
Business Wire, November 6, 2006
Columbia Equity Trust, Inc. today announced that JPMorgan Asset Management's Special Situation Property Fund will acquire Columbia in an all-cash merger valued at approximately $502 million. Oliver Carr '92, Chairman and Chief Executive Officer of Columbia Equity Trust, stated, "As we have indicated to our shareholders since our IPO last year, our sole focus at Columbia is on creating value for our investors, and we believe that the proposed merger with SSPF achieves that objective." Download article (pdf, 26K) or view online.
David Marvin '89 Profiled as "Visonary Developer"
Atlanta Style & Design, Fall 2006
Featured in Atlanta Style & Design, "self-deprecating" David Marvin '89 gets noticed for the changes his team has brought to downtown Atlanta: "You may not know Marvin's name, but you've certainly seen the influence of Legacy Property Group. Legacy is responsible for downtown's first new hotel in 15 years...and downtown's first luxury condominiums." Download article (pdf, 501K).
Heather Smith Fellowship Awarded for 2006
February 2006
On February 27, 2006, MIT Center for Real Estate graduate student Amy Merritt received the Heather Smith Memorial Fellowship Award. A member of the Class of 2006, Amy is the seventh recipient of the award, which is presented each year to one of the Center's female graduate students. Amy came to MIT after working for Green Street Properties, an Atlanta-based urban redevelopment firm specializing in mixed-use New Urbanist infill projects. Before working for Green Street, she worked for J.P. Morgan in New York as a financial analyst. Amy received her B.A. in Architecture and Certificate in Finance from Princeton University in 2001.
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Previous Alumni/ae Events
Please see the main MIT Center for Real Estate Events Page for upcoming events.
MIT Center for Real Estate Graduation
September 30, 2006
The 2006 graduation keynote address was delivered by Matthew Kelly, Vice President of Real Estate Strategy and Development for Walt Disney Imagineering (WDI).
10th and 20th Anniversary Class Reunions
September 29, 2006
To honor of the Classes of 1986 and 1996, the MIT Center for Real Estate invited members of both Classes and guests to attend a special dinner in concert with the Center’s Graduation Weekend.
San Fransciso Alumni Get-Together
May 18, 2006
Planned highlights for the San Franscisco Alumni get-together included touring a $15M home for the 2006 San Francisco Decorator Showcase, then walking down Sacramento Street for dinner.
New York City Annual Trip
May 4, 2006
The Alumni Association of the Center for Real Estate (AACRE) hosted its annual New York City trip on May 4, 2006, at the W Hotel / Icon Restaurant, 130 East 39th Street (on the corner of Lexington). Cocktail reception from 6pm to 8pm included guest appearances by David Geltner and Tod McGrath.
Symposium Addresses Risk and Return in Real Estate Development Ventures
February 16, 2006
On February 16, 2006, a symposium co-produced by the Alumni Association of MIT’s Center for Real Estate (AACRE) and New England Women in Real Estate (NEWIRE) brought together leaders in development theory and practice to address issues of risk and return in real estate development ventures. If developing real estate is far riskier than purchasing stable real estate, how much greater should be the returns on such investment?
Alumni/ae Reunion Weekend 2005
September 29 - October 1, 2005
The MIT/Center for Real Estate's Alumni/ae Reunion Weekend 2005 took place September 29 through October 1. The theme of the weekend was real estate theory versus practice. Click on the link above to learn more about the events that took place and view our webcast.
MIT/CRE NYC Annual Trip
April 28, 2005
In the spirit of hosting current students, AACRE put together a two hour cocktail reception with tasty bites and of course, healthy drinks. It provided a great opportunity to meet the Class of 2005, Tony Ciochetti, the Center's new Chairman, David Geltner, Director, and of course, Tod McGrath.
AACRE & MIT/CRE - New York City Forum on Issues and Innovations in Real Estate
November 3, 2004
A panel presentation featured a select group of Manhattan 's leading planning, design and real estate professionals in a discussion of the future of one of Manhattan 's last developable frontiers, the Far West Side. Download the invitation (pdf, 76k)
Alumni/ae Reunion Weekend 2004
September 30 - October 2, 2004
