Spring 2019 Newsletter
2nd Annual Mid-Year Market Sentiment Report
The Real Estate Center recently launched the survey that is the centerpiece for the Chicago Mid-Year Sentiment Report. The report, to be published in June, will serve as the theme for the Center’s Spring Conference.

In 2018 The Real Estate Center launched its first Mid-Year Sentiment Report with great success. Along with the results of the survey, expert commentary was provided by sponsors of the center, faculty and members of the DePaul Real Estate Alumni Alliance (DREAA). News stories about the report appeared in major real estate trade publications, including GlobeSt., Illinois Real Estate Journal, Bisnow, Heartland Real Estate and Connect Chicago. The Report also was the focal point of the Fall DePaul-REIA Back to School Program.

If you would like to participate in the 2019 Chicago Mid-Year Sentiment Report, please contact Kathleen O’Hare, Associate Director of the Center at kohare@depaul.edu or 312-362-7211. 
View the 2018 Report Here .
15th Annual Collegiate Real Estate Conference
The Real Estate Center hosted the 15th Annual Collegiate Real Estate Conference on March 22nd and attracted a record-breaking crowd of nearly 150 students. This unique event brings real estate students together from regional universities to learn about the complex, multifaceted real estate industry from senior level professionals representing multiple business sectors.

The afternoon program opened with a round table luncheon followed by three breakout sessions representing careers in: brokerage, corporate real estate, development/project management, finance, property/asset management, REIT/institutional investment and valuation/consulting. Students had the opportunity to attend three of these panel discussions to learn from seasoned professionals about career paths and job functions in each discipline. The event is a rare and valuable opportunity for students to engage in real conversations with experts in their respective field.

The program is a favorite to both panelists and participating students alike. Several speakers have returned year after year to share their insights with the future industry professionals. In fact, Jack Bernhard, Executive Director at JPMorgan Chase, received a commemorative plaque for his 15-years of participation in the event.

This year's sponsoring universities included: University of Illinois, Indiana University, the University of Iowa and Marquette University.
2019 Chicago Mid-Year Sentiment Report is Theme for June 12 Spring Conference
Save the Date!!! The Real Estate Center has announced plans for its Spring Conference to be held on June 12 at DePaul’s Loop Campus, 1 E Jackson Blvd.

The Real Estate Center will leverage the timeliness of its 2019 Chicago Mid-Year Sentiment Report, and focus the conference on a mid-year forecast and review. The program will include a key note question and answer with a key figure from the Chicago real estate industry as well as a panel discussion that further discusses the findings of the report.

In addition to how the markets are performing and the expectations for the rest of 2019 and beyond, both the report and the panel will explore the impact of having three newly elected officials—Governor J.B. Pritzker, Mayor Lori Lightfoot and Cook County Assessor Fritz Kaegi—on the real estate communities in Cook County, the City of Chicago and the State of Illinois.  

Look for more information on speakers, topics and registration in the weeks ahead!
Raymond Milnes
Raymond G. Milnes Jr., an adjunct professor in the Real Estate Department at DePaul University has passed away after battling cancer.

At DePaul Ray led a class on Career Management in Real Estate where he taught his students how to navigate through the industry by networking and participating in the local and national professional associations. For several years, he led a contingent of students and advisors to the REITweek Investor Conference hosted by NAREIT. As part of the trip Ray created opportunities for the students to meet with industry experts from across the country.

Ray joined DePaul in 2012 after retiring in 2011 from KPMG. A veteran of 38 years at KPMG, retired as Partner, National Real Estate Industry Leader. During his career with KPMG he provided services to all sectors of the real estate industry including real estate investment trusts, developers, real estate investment advisors, owner/operators, real estate services companies and lenders.

Other activities in which Ray was involved during his retirement included serving as a member of the board of directors of Piedmont Office Realty Trust, an Atlanta-based real estate investment trust. He also chaired the Board of trustees of Holy Trinity High School in Chicago. Equally as important to Ray, because of his affinity for basketball, Ray was a volunteer assistant varsity basketball coach at Stagg High School for the 2011 -2017 seasons.

Ray was devoted to his family—his wife, Cheryl, four children and their spouses and nine grandchildren.

Funeral services have been held. In lieu of flowers, contributions may be made in memory of Ray Milnes to Holy Trinity High School, 1443 W. Division St., Chicago, IL 60642.
Sustaining Sponsor Updates
Two Chicago-based firms have become sustaining sponsors of The Real Estate Center at DePaul and a new sponsor representative will be joining the Executive Committee.
Chicago-based Ventas, Inc., a leading real estate investment trust valued at $34 billion, is returning as a sustaining sponsor. 

Through development and acquisition activities, Ventas, an S&P 500 company, has built a diverse portfolio of approximately 1,200 assets in the US, Canada and the UK, including seniors housing communities, medical office/outpatient buildings, university-based research and innovation centers, inpatient rehabilitation and long-term acute care facilities, and health systems. 

According to Ventas Chairman and CEO Debra A. Cafaro, the Company is delighted to support DePaul’s well-regarded commercial real estate program
Golub & Company is the newest sustaining sponsor. The Chicago-based real estate development and investment firm is one of the most prominent and well-known family businesses in the City. One of the firm’s most visible projects in Chicago is the renovation and conversion of the Tribune Tower. In addition, Golub owns, manages and has developed an international portfolio of office, multifamily and mixed-use projects totaling more than 45,000 residential units and 50 million square feet of commercial space.

Michael Newman, President and CEO of Golub, is excited to join the ranks of sustaining sponsors and participate in the various programs and opportunities that come with that position. Newman has always found it rewarding to be a guest lecturer, a speaker or presenter at conferences, and a mentor to young people in the industry. The sustaining sponsor affiliation at The Real Estate Center demonstrates that commitment.
In addition to welcoming new sponsors, we also welcome a new sponsor representative from Chicago Title: Jennifer Rench, VP Executive Account Manager for Commercial Sales, will serve on the Executive Committee beginning in June. She began her real estate career as an examiner and escrow officer with Chicago Title 19 years ago, and returned to her alma mater nine years ago in a sales and management capacity. Jennifer brings a wealth of knowledge to the Chicago NCS team, having spent 10 years as a customer – most recently as an Assistant Vice President with Merrill Lynch Capital Services. Her experience at Equity Residential Properties and Sonnenschein Nath & Rosenthal LLP has instilled a strong customer perspective and understanding of how to best manage multi-site, multi-state transactions - some topping $1B in total portfolio value.

We look forward to welcoming Jennifer at our June 14th Spring Executive Committee Meeting.
Sponsors & Endowment Funds
Endowment Funds

Susanne Ethridge Cannon Endowed Scholarship

Chicago Commercial Real Estate Industry Endowed Scholarship

Douglas & Cynthia Crocker Endowed Director of the Real Estate Center

Douglas & Cynthia Crocker Real Estate Endowed Scholarship  
 
Michael J. Horne Endowed Real Estate Scholarship 
  
Kenneth McHugh Real Estate Endowment

George L. Ruff Real Estate Studies Professorship

Robert & Howard Weitzman Endowed Scholarship

Charles H. Wurtzebach & Susan M. Marshall Endowed Scholarship 
The Real Estate Center | DePaul University | 312-362-7211 | Email | Website