Leveraging Science, Developing Innovation
"We shape our buildings and our buildings shape us."
– Winston Churchill
Two women from MIT/CRE's Class of 2012 were named to receive the Heather Smith Memorial Fellowship. Melissa Schrock and Canan Ceylan Safar were chosen based on factors that included financial need and outstanding career promise.
The Heather Smith Fellowship honors the memory of Heather Smith, a member of the Boston real estate community who was aboard American Airlines Flight 11 on September 11, 2001.
To sustain our work into the 21st century, MIT/CRE has established a variety of Giving Funds, some targeting specific programs and some supporting Center activities in general. how your contributions can help.
By Jonathan O'Connell
THE WASHINGTON POST, April 21, 2012
By Chris Vogel
BOSTON MAGAZINE, November 2012
Each year, the Alumni Association of the Center for Real Estate (AACRE) selects a current student to receive the New Boston Fund Outstanding Thesis Award. Thesis advisors nominate the submission that best represents both excellence in academic achievement and the practical application of advanced techniques and analysis to the field of real estate. A panel of AACRE members carefully reviews each nominated submission and grants the award during the graduation ceremonies. This year’s recipient, En-Wei Edwin Liang received the award for his thesis entitled “ Not Just About the Money: Managing Beyond Extrinsic Rewards to Thrive in the Real Estate Industry”, pictured here with Jeff Harper, Co- President, AACRE and Dan McGrath, New Boston Fund. Click here for thesis abstract.
Professor David Geltner won the prestigious James A. Graaskamp Award, making MIT the only academic program anywhere to have two recipients on the same faculty (Professor Bill Wheaton shared the award in 2007). Presented at the Pension Real Estate Association Conference, the Graaskamp Award honors important research in the area of institutional investment in real estate. Learn more...
In a recent Fortune / CNN article, MIT/CRE Professor Bill Wheaton and Harvard's Kenneth Rogoff propose that the government should facilitate particular mortgage write-downs in exchange for claims on a percentage of future appreciation – potentially making it a win for under-water homeowners as well as for lenders and investors. Read article...
We are pleased to announce the appointment of Dennis Yeskey as the 7th Thomas G. Eastman Chair of the MIT Center for Real Estate. For more than four decades, Dennis has been a recognized thought leader and practitioner in developing successful businesses, capital and operational strategies, particularly in identifying, analyzing and investing in profitable real estate opportunities. Read more...
The Spaulding Award is presented to an MIT/CRE graduate whose work in the real estate industry has enriched the profession, and/or whose community involvement has been marked by distinguished service or leadership. Established in 1991, the Award honors the leadership, energy, and vision of Center founder Hank Spaulding. Winners of the Spaulding Award embody the "leadership, energy, and vision of Center founder Hank Spaulding...." This year's winner was Mike Smith, Class of 1987, for North Bethesda Center, a 2.7 million square foot, mixed-use transit-oriented project located adjacent to the North Bethesda Metro Station in suburban Washington, D.C. To learn more, visit NorthBethesdaCenter.com.
Boston Properties Senior Vice President and Regional Manager, Bryan J. Koop, presented his analysis and vision of a Revolution in the Workplace to our MSRED graduate students. Bryan’s presentation, as part of Professor Frenchman’s and Professor Roth’s Real Estate Products class, revealed a peek into the future of high-value office environments – specifically office and R & D space. Focused on the knowledge worker, these work environments will have a much greater emphasis on high-quality – yet informal – collaborative spaces over individual, private offices. Bryan’s presentation also included a case study of Boston Properties' recent Atlantic Wharf project, Boston's newest 31-story office tower. Carefully preserving the original facades, this high-rise was constructed atop seven stories of historic 1890’s wharf buildings.
The Alumni Association of the MIT Center for Real Estate (AACRE) is now accepting applications to its CASE competition. This annual challenge gives teams of graduate students in real estate a chance to compete and learn via their analysis of a complex real-world development project. The competition sold out in 2011, with 16 teams from across the US and Canada competing, so register early for 2012. Learn more...
In April, the MIT Center for Real Estate (CRE) and its alumni association – together with their media partners, The Real Reporter – hosted a day-long forum on global real estate, featuring prominent leaders of local and international real estate firms. Read full article.
Renowned Urban Economist, Professor Bill Wheaton, on the Impact of Energy Costs on the Growth and Development of Cities.
Professor Wheaton presented at the recent MIT Global Real Estate Forum, held at the Federal Reserve Bank of Boston. See related story above.
MIT is a leader in fostering collaborative enterprises, with notable acclaim in all of the disciplines that directly impact the built environment — architecture, finance, urban planning, the sciences, and technology.
During 2005-2010 the MIT/CRE played a lead role, jointly with industry partners, in the historical development of three new types of indices for tracking the pricing and investment performance of commercial properties. These R&D projects pioneered the development of practical, industry commercializable methodology for basing such indices on property sales transaction prices and on REIT-based stock market valuations. The resulting improvement in information available for industry and academia holds the potential to be a transformational historical development for the commercial property investment industry. Read more...