Alumni Career Profiles
Many students in the MSRED program enter MIT with a clear idea of how they want to enhance or change their career path through their year of graduate education. After their time in school, they successfully pursue that plan. Others may come into the program with a strong career direction in mind which then shifts through exposure to work options they might not have considered earlier. Still others come to MIT to widen their career horizons and upon graduation seek employment in an area they may have been quite unfamiliar with previously.
The alumni profiles below should give you a sense of the variety of experience students bring with them into the MSRED program and the variety of positions in the real estate industry they later assume.
- Different Markets: The Same Fundamentals, Gonzalo Cortabarria '97
- An Entrepreneur Creates Her Own Luck, Brenda Radichel '93
Alumni Profiles by Job Type
Different Markets: The Same Fundamentals
Gonzalo Cortabarria '97
Having been deeply involved in the Argentine real estate sector over the previous year, Hines Project Manager Gonzalo Cortabarria '97, moved to Buenos Aires in 1999 to set up a new office for the company. His role was threefold: to search for development and acquisition opportunities; to look for opportunities to service third parties; and to take care of all the administrative business that goes with opening an office. Although he was on his own there, he relied heavily on Hines' network for support, both his home office in Chicago, the Latin American head office in Sao Paulo which he helped establish in 1998, and the central office in Houston. He kept in touch through scheduled conference calls as well as phone and e-mail. His job was not easy, given the close connections between the economies of Argentina and Brazil which experienced a severe currency crisis in 1999. "There was a slowdown and a lot of uncertainty," said Gonzalo, "but during bad times one can often find good opportunities."
Before coming to MIT he worked as a manager on a private highway construction project in his native Uruguay. He came to MIT to gain "first class expertise and learn how things are done in the US" so he could apply those tools in Latin America. "MIT was a turning point for me. Through it, I repositioned my career and became an international player. In the globalized situation we find ourselves in in real estate, the same fundamentals apply everywhere. At Hines, I've worked on projects in the U.S., in Brazil, and in Argentina. Those are different markets but the same real estate patterns and behavior."
Gonzalo's days were varied. He met with brokers, ran numbers on a project under consideration, met with potential tenants to assess project marketability, or open a bank account. He was also involved with administration, taxes, legal issues, and recruiting. What makes it doable was the support he got from Houston and Chicago. "We use a team approach." His job suits him well. "I like meeting people and putting things together--finding ways to make something work," he said. "I enjoy negotiation. And I even like doing financials, creating proformas and trying out various scenarios. That, I learned at MIT."
About his time at MIT, he added, "The experience is extraordinary. It is an opportunity to meet interesting people, both faculty and classmates. I made very good friends--now I have a place to stay in many cities around the world."
An Entrepreneur Creates Her Own Luck
Brenda Radichel '93
Since 1997, Brenda Radichel '93, has been the Principal of her own firm, New Era Development. She is also an officer in a family real estate company which holds a small portfolio of commercial buildings in southern Minnesota.
Brenda left her former position as vice president of development for Welsh Companies to start her own company because she felt the time was right in the real estate cycle to take the risk and because she wanted "the kind of experience you can only get by working for yourself."
Her firm owns a 20-acre industrial park in Rochester, MN, home of the Mayo Clinic, where there had been no construction for the past 7 years, but where a new freeway was completed contiguous to her land. She and her sister contributed the capital for the construction of a 35,000 sf office/showroom building in the spring of 1997. The building was fully leased by the time it was completed in June, 1998. Brenda placed her permanent financing with a conduit just a few months before conduit lending ground to a halt in the summer of 1998. "It never hurts to be lucky," says Brenda. "I had no idea of the exposure I had with a conduit. They don't commit to doing a deal until the loan closes." To diversify her risk she will look to a different kind of lender for her next building which was in the planning stage in 1999.
Before coming to MIT, Brenda was a workout lender for Shawmut Bank (now Fleet). While the option of going out on her own was always there, she knew she needed a broader knowledge of the industry which she hoped to get by coming to MIT. What she got in addition was an underlying self-confidence. "It's not that I thought I knew everything when I graduated," she says, "but I did know I could hold my own in a group of real estate professionals and learn what I needed to while climbing the learning curve. Schooling just sets the stage." The other thing she got from MIT was a strong understanding of legal issues and real estate finance. "If you don't understand how to create value, you don't provide anything. Anyone can put up a building."
Asset Management
Julia Viskanta '88
Julia Viskanta is a Senior Asset Management Officer at State Teachers Retirement, Ohio in San Francisco, CA where she is responsible for the Southern California portfolio. Before coming to MIT, she was a Construction Project Manager with Pantheon Corporation in St. Louis, MO.
Joyce Lee '89
Joyce Lee is Chief Architect with the Office of Management & Budget in New York City where she is responsible for oversight of resource intensive projects in New York City's $4 billion capital program. Before coming to MIT, Joyce worked with an architectural firm where she worked closely with developers and their concerns.
Andrew Segal '91
Andrew Segal is Vice President at Jones Lang LaSalle in San Francisco, CA and is responsible for on-site leasing and management of a $750 million portfolio of California office and industrial. Before coming to MIT, Andrew was a project manager for a commercial developer in San Francisco.
Deborah Ulian '98
Deborah Ulian is Director of Asset Management with UBS Realty Investors in Hartford, CT and is responsible for a commercial portfolio of real estate (office, industrial and retail). Prior to MIT, Deborah worked as a Principal Broker in Rhode Island and Massachusetts.
Jenifer Uncapher '01
Jenifer Uncapher is Deputy Director at Aspen Valley Land Trust in Carbondale, CO where she is responsible for creating innovative land conservation activities, increasing the capacity of the organization and implementing the goals of the board of directors. Before coming to MIT, Jenifer worked as a Managing Director at Rocky Mountain Institute.
Consulting/Advisory
Edward Monahan '86
Edward Monahan is a Director of Financial Advisory Services at Price Waterhouse Coopers and is responsible for South American banking, financial services, asset management, and real estate clients. Prior to MIT, Ted worked in the Corporate Banking Group of Citibank in Santiago, Chile.
Bruce Eidelson '87
Bruce Eidelson is the Director of Real Estate Advisory Services for Russell Real Estate Advisors in San Diego, CA and is the Investment Advisor focusing on real estate portfolio issues for major pension funds and tax-exempt investors. Before coming to MIT, Bruce was a Manager at the Los Angeles branch of Laventhol & Horwath, a major national public accounting and consulting firm.
Pietro Doran '90
Pietro Doran is Senior Principal at Doran Capital Partners in Seoul, Korea and is responsible for identifying investment opportunities throughout Korea for Morgan Stanley Real Estate Fund, for which DCP is the operating partner and senior advisor in Korea. Prior to MIT, Pietro owned and operated a real estate investment and development company.
John Fleeman '90
John Fleeman is President of Fleeman & Co. in Miami, FL. Fleeman & co is a commercial real estate brokerage in Miami, FL, specializing in office and industrial properties. Services provided include landlord and tenant representation. Before coming to MIT, John was Director of Leasing for Karsten Realty Advisors in Miami.
William Browning '91
William Browning is the Founder of Green Development Services at Rocky Mountain Institute in Snowmass, CO. Green Development Services provides research and consulting on environmentally responsive development for such clients as Hines, Lucasfilm, Forest City, and the White House. Prior to MIT, William worked at Rocky Mountain as a research associate.
Paul Poston '91
Paul Poston is District Director, Great Lakes Region for Neighborhood Reinvestment in Cincinnati, OH. He oversees direct delivery of funding and consultant services supporting affordable housing and related activities of community-based nonprofits. Prior to MIT, Paul served as Chairperson of Tent City Development Corporation in Boston.
Development
Andrew Gutowski '86
Andrew Gutowski is Vice President of Development at The JBG Companies in Washington, DC where he is the manager for several large multi-family developments in downtown DC. Prior to MIT, Andrew worked with Benjamin Thompson & Associates, an architectural firm in Cambridge, MA.
Kimberly McKay '90
Kimberly McKay is Senior Project Manager at the Related Companies of California in Irvine, which handles the development of affordable and market rate residential on the West Coast. Prior to MIT, Kimberly was responsible for structuring public/private partnerships for the Department of the Navy.
L. Jay Timon '98
L. Jay Timon is a Developer at AIG-Baker Development, LLC in Birmingham, AL where he identifies potential shopping center sites and manages site purchase negotiations, tenant recruitment and news. Before coming to MIT, Jay worked as a consultant through his own real estate development and consulting firm.
Richard Donovan '01
Richard Donovan is a Project Manager with Leggat McCall Properties in Boston where he manages development for third party clients. Before coming to MIT, Rick worked for a large construction manager, Gilbane Building Company in Providence, RI.
Byron Gumbs '01
Byron Gumbs is a Development Associate with Summit Properties in Charlotte, NC where he is responsible for locating sites for acquisition, negotiating with sellers, obtaining permits and necessary approvals in order to facilitate construction, and analyzing investment opportunities present in the market. Prior to MIT, Byron worked in project management with Cesar Pelli and Associates in New Haven, CT.
Michael T. Harrison '90
Michael T. Harrison is Vice President at Hines in Atlanta, GA where he is responsible for the development, acquisition and management of office projects, mixed-useprojects, & master-planned communities throughout the southeastern U.S. & Caribbean. Prior to MIT, Michael worked with Symmes Maini and McKee, an architectural engineering firm in Cambridge, MA.
Development/Entrepreneur
Patrick Kennedy '85
Patrick Kennedy is a Developer with Panoramic Interests, a mixed-use developer in Berkeley, CA. Prior to MIT, Patrick worked as a contractor, renovating several residential properties and one office building.
Ara Aftandilian '87
Ara Aftandilian is a Principal at Summit Properties of Topsfield, MA, a developer of retail, hospitality and commercial mixed-use properties in MA, ME, NH and VT. Before coming to MIT, Ara worked as Director of Development at Emerson Management Group, Inc.
Randy Nichols '89
Randy Nichols is President of Nichols Partnership, a development firm in Denver, CO which focuses on mixed-use developments. Before coming to MIT, Randy was a Vice President with LaSalle Partners, Ltd in New York City.
Development/REIT
Michael O'Connell '95
Michael O'Connell is Director of Development at Taubman Company in Bloomfield Hills, MI where he manages development of new shopping centers and expansion of existing centers. Prior to MIT, Michael worked with O'Day Consultants in Carlsbad, CA.
Margaret Cryer Foody '90
Margaret Cryer Foody works in Special Projects at Avalon Bay Communities in San Jose, CA where she provides consulting advice for the design, development, lease-up, and management of the retail component of mixed use projects. Before coming to MIT, Marnie worked for various architectural firms in Boston, MA.
John Bell '99
John Bell is VP of Development for AMLI in Kennesaw, GA where he is the project manager for a mid-rise condo subdivision. Before coming to MIT, John worked at a residential and commercial construction company which he started.
Finance
Lawrence Ellman '92
Lawrence Ellman is Vice President at JP Morgan Fleming in New York where he is an acquisitions officer responsible for making domestic real estate equity investments in direct investments, joint-ventures and operating companies across all property types. Prior to MIT, Larry worked as a commercial broker with Burke Commercial Real Estate in North Orange County, CA.
Sameer Nayar '96
Sameer Nayar is Director of Large Loans at Credit Suisse First Boston in New York where he is involved in pricing, structuring and securitizing real estate loans over $50 million. Prior to MIT, Sameer worked for Nuchem Weir Ltd., a project management consulting firm.
David Marks '01
David Marks works with The Blackstone Group International in London, England where he is responsible for investing $4.0 billion of capital on behalf of the Blackstone Real Estate International Fund. Before coming to MIT, David worked for Jones Lang LaSalle in both their New York and London offices.
