Georgetown McDonough Announces Steers Center for Global Real Estate
Georgetown University’s McDonough School of Business today announced the launch of the Steers Center for Global Real Estate, which provides an innovative educational experience for undergraduate and graduate students preparing to become leaders in global real estate.
“Thanks to the generosity of Robert and Lauren Steers, students at the McDonough School of Business studying at the new Steers Center for Global Real Estate will participate in a transformative program that provides an opportunity to engage the world of real estate through a very practical approach,” said David A. Thomas, dean of Georgetown’s McDonough School of Business. “The Steers Center will elevate the school toward its aspiration of becoming the premier destination for global business education.”
Formerly known as the school’s Real Estate Finance Initiative, the Steers Center for Global Real Estate will provide individualized career planning for students through one-on-one sessions with professors and mentors; hands-on learning opportunities through the Real Estate Clinic and Real Estate Laboratory; and a growing focus on global opportunities through consulting projects and career treks.
“It was important to me to see Georgetown McDonough create a formal real estate center with the financing to be permanent and to think and plan strategically,” said Robert H. Steers, a 1975 McDonough School of Business graduate and CEO of leading global investment manager Cohen & Steers. “To be a preeminent school and center, we need to constantly strive to innovate and come up with additional strategies that prospective students and employers look at and say ‘wow, that’s really something special.’”
Under the leadership of Matthew Cypher, professor of the practice and director of the Steers Center for Global Real Estate, the real estate curriculum at Georgetown McDonough has been built with the following guiding principles:
- A student-centered approach: All students meet individually with faculty, executives in residence, and alumni mentors to develop and execute a career plan tailored to their goals;
- A highly applied program that supplements classroom knowledge with on-the-ground experience: The school’s location in the gateway real estate community in Washington, D.C., provides Georgetown McDonough undergraduate and graduate business students the unparalleled opportunity to participate in a globally significant real estate market. Through the Real Estate Clinic, MBA students have worked with Invesco to underwrite more than $1 billion in live real estate transactions. Through the Real Estate Laboratory, undergraduate and MBA students have full access to a building on Wisconsin Avenue near Georgetown’s campus in Washington, D.C., owned by JOSS Realty Partners and have worked on projects ranging from building valuation to studying how to maximize parking revenue to working with architecture firms to redesign the courtyard. Students also have the opportunity to gain an applied understanding of technical areas within real estate through the on-campus McBride Family Lecture Series and the Real Estate Luminaries Series, as well as New York-based events each year; and
- A global mindset that is the hallmark of the Georgetown McDonough education: Real estate projects now are part of the Global Business Experience for MBA students, who have traveled abroad to complete consulting projects ranging from making recommendations on investment strategies for a global private equity firm in Brazil to developing a market entry strategy for a luxury hotel group in the Asia Pacific. Students also are meeting with global real estate employers around the world, most recently through a career trek to Bogota, Colombia.
“Through the Steers Center for Global Real Estate, we have married the academic excellence of the Georgetown University classroom with the applied experiences afforded by our location in the global Washington, D.C., real estate community,” Cypher said. “No other program will be able to match our strengths in developing students to become leaders in the field of real estate.”
The Steers Center for Global Real Estate is made possible by a transformative gift from Robert and Lauren Steers. As part of their support, the Steers family also has endowed the Robert and Lauren Steers Chair in Real Estate, which is held by Host Hotels & Resorts CEO and President W. Edward Walter, who created and began teaching a new course on Real Estate Public Equity this spring while continuing as CEO of the company.
In addition to the support of Robert and Lauren Steers, the Steers Center in Global Real Estate has received significant funding from Mary and Bill Poland (P'13); Orit Mardkha-Tenzer and Gil Tenzer (B'84, P'17); Janice and Robert Billingsley (F'68, P'99, P'03); and Timothy McBride (L'74, L'80, P'04).
To be added to the Steers Center for Global Real Estate's contact list, send an email to firstname.lastname@example.org.