Newsletter of the Kelly A. Bergstrom Center for Real Estate Studies
It's hard to believe that we are at the beginning of a new decade. For all of us in the real estate industry, we look forward to the prospects of 2011 and a recovering economy. Here at the Center we've been extremely busy. As you can see, we are upgrading our communications with the inaugural edition of our newsletter, The Pinnacle, which will be produced quarterly. This is just one of many changes that are occurring. We recognize that to be the best at something requires hard work and constant change. As a result we've been focused, with the help of our Advisory Board Chair Kelley Bergstrom, on our brand and message, upgrading our correspondence and providing higher quality events.
Many of you may have received a post card from the Center discussing the tremendous success of Dr. Ling and Dr. Archer's text book. This is another effort to promote the great work being done in real estate at the University of Florida. We expect to send three or four postcards per year highlighting different aspects of the Center and our real estate program. We also just completed another successful Real Estate Trends and Strategies Conference, this time in Orlando. Moving the conference to Orlando helps alleviate the space problems in Gainesville but also allows us to increase the visibility of the program and Center by attracting leading experts to the conference. More changes are being made to the conferences and the schedule which will be highlighted in future newsletters.
While many things are changing the one foundation in our program is the tremendous support all of you provide. We are truly grateful for all you do to help the students, faculty and center staff in furthering our goal of becoming the best university based real estate program in the country. We hope you enjoy the first edition of The Pinnacle. As always we welcome your feedback and suggestions. rom all of us at the Center, we hope you and your families have a wonderful and prosperous new year!
2010 UF Real Estate Trends and Strategies Conference
We hope you were one of the 235 industry professionals who participated in the 2010 Real Estate Trends and Strategies Conference and enjoyed an optimistic message from our panelists and speakers. If you weren't able to attend you missed a great show. This was our first year away from Gainesville and the program set a high standard for the future. Many thanks to John Crossman of Crossman & Co., our conference committee chair. His team put together a top quality program packed with industry experts and valuable information. John even summoned beautiful weather which made the opening reception the best yet. Long-time Gator supporter and Orange County Mayor Richard Crotty opened the evening with a warm welcome to the attendees on the lawns of the Hilton Bonnet Creek Resort overlooking the Waldorf golf course. The food was great, the weather was perfect but talking with all the great people in attendance was priceless.
The main sessions on Friday brought a host of industry experts to the stage discussing the current and future state of real estate. The capital markets panel was extremely informative and entertaining and featured Douglas Poutasse, the former Executive Director of NCREIF and currently the Executive Vice President of Investment Strategy and Research at Kennedy Associates, Scott Bois, Director of Commercial Mortgage Originations at Wells Fargo and advisory board member Chuck Davis, Director of Real Estate at MetLife. Our keynote speaker was Tom Nolan, President & COO of General Growth Properties who gave an insider's view of GGP over the past year and firsthand accounts of how the company emerged from bankruptcy with all stakeholders fully whole.
We continued our annual tradition of award presentations during our luncheon session. The session was kicked off by Heisman winning UF quarterback and Executive Director of Desire Street Ministries, Danny Wuerffel. He gave a tremendous speech about giving back. Danny's message echoed the sentiments of the two inductees into the Bergstrom Center Hall of Fame, who are well known for contributions to their communities. This year we inducted Armando Codina, Chairman of Flagler and James Pugh, Founder and Chairman of Epoch Properties. Mr. Codina was introduced by former UF president Marshall Criser while Mr. Pugh was introduced by advisory board vice-chair Dick Donnellan. Both inductees provided inspirational acceptance speeches. We concluded the ceremony with the Alumni of the Year award. This year's recipient was a surprised Todd Jones. Todd has given a tremendous amount of his time participating in every Bergstrom Center event, teaching the MSRE Real Estate appraisal course and consulting with the Center on our initiative to take our Survey of Emerging Market Conditions national.
We concluded the day's events with a new format. We introduced roundtable sessions for the first time at our conference to a tremendous reception. Nine tables with nine topics were arranged so attendees could interact with advisory board and industry experts on a variety of topics affecting the industry today. The small interactive sessions provided great dialogue and exchange of ideas to cap a great conference.
Don't miss the next great event. Due to the feedback from our advisory board and conference attendees we are moving the Trends and Strategies Conference to the first quarter in future years. Our next conference will take place in February 2012 in Orlando.
A Great Loss
It's with a heavy heart that we report the passing of two of our advisory board members last year, both from Jacksonville.
As many of you may know we lost a great friend of the program in June with the passing of Bill Sulzbacher. Bill joined our advisory board in 2006 and quickly made an impact on the Center and the students. Bill was involved in the development and management of retail shopping centers and mixed use developments for more than three decades. His passion for this industry carried over to the classroom as well. He had a passion for helping students and was actively involved in mentoring. In his short time with our board he hired a student, participated in class sessions, attended almost every event and sponsored the Capstone project for the 2008-2009 MSRE class. The Capstone project was an experience that Bill greatly appreciated. Because of these positive interactions Bill made a commitment to help lead the center by joining the executive committee this past year.
Bill's giving didn't stop with UF. He lived most of his life in Jacksonville and was a tremendous supporter of the community. He was very active in the Sulzbacher Center, the city's homeless shelter that is named for his father. Bill was a member of the boards of the Florida Theatre, Ability Housing of Northeast Florida and the Catholic Charities Diocesan Board. He was a past chairman of the Jacksonville Housing Authority and the Florida Theatre for the Performing Arts, and past president of the Arts Assembly of Jacksonville, the San Jose Catholic Housing Association, Catholic Charities Bureau, Family Housing Co., St. Paul's Catholic Church Parish Council and the Northeast Florida Penn Club.
We lost another great member of our board, Dave Materna, in October after a long and courageous battle with cancer. Dave was a wonderful mentor to many of our graduates while serving on our board since 2004. Dave had a distinguished career in real estate serving as the Director of Real Estate Capital Markets at Bank of Boston as well as President and CEO of The Paradigm Group in Gainesville. Most recently he was with Taurus Stornoway Investments in Jacksonville.
Dave was a graduate of the Naval Academy and a Vietnam veteran, serving three tours of duty as a naval aviator in the skies over Vietnam. He served on the board of the National Multi-Housing Council, the Multi-Family Housing Executive Leadership Council and was a member of the National Association of Real Estate Investment Trusts.
Bill and David's contributions to our Center, the real estate program and the City of Jacksonville will be greatly missed.
Bergstrom Center Membership Structure Changes
Over the past year, we've been working hard to develop a membership structure that would better integrate all the supporters of the Bergstrom Center and the real estate program. Additionally we are focused on strengthening the Bergstrom Center brand and ensuring that one clear message is sent and received in the industry. With those goals in mind and with the approval of the executive committee we're pleased to announce our new structure.
The Bergstrom Center for Real Estate Studies will now have four levels of membership: the Chairman's Circle, the Advisory Board, the Bergstrom Council, and the Friends and Alumni of Real Estate. This change recognizes a clear progression of participation within the Center from the free Friends and Alumni category for those who want to stay in touch to the Chairman's Circle for the senior executives who want to have a high level of involvement in the Center.
While this may seem like a small change, it has large ramifications for our brand. Since inception, we've effectively had two separate groups, The Bergstrom Center and UF-FARE. Technically speaking UF-FARE was always intended to be a part of the Center but over time developed a brand of its own. By officially bringing UF-FARE into the membership of the Center we can provide more services and better brand management as we try to fulfill our vision of becoming the best university based real estate program in the country.
In making the transition, we started a new giving level within the Center, the Bergstrom Council. This level was developed to provide a mechanism for supporters of the center to donate. The Bergstrom Council level is specifically for those professionals who want to actively participate in our mission but either don't have the resources or time to join the advisory board or they don't yet have the experience to join the advisory board. We encourage you to consider this level and pass it along to your employees. It's a great way to support real estate at UF and get involved!
Membership Drive Update
At the Spring Retreat in April, we laid out plans for a membership drive for the advisory board. Our intention was to add thirty new individuals to fill our open slots and anticipate future attrition. Thanks to our advisory board's continued commitment and support, we've added 22 new advisory board members. Please join us in welcoming them to the board and the Center.
- Barry Altshuler, Senior Vice President, Equity Residential, Ft. Lauderdale, FL
- Dean Asher, Treasurer, Florida Realtors, Orlando, FL
- Gary Bauler, CB Richard Ellis, Tampa, FL
- Timothy Clark, President, Cypress Real Estate Advisors, Austin, Texas
- Mary Pat Dunleavy, Vice President, Fidelity National Title Insurance, Orlando, FL
- Robert Finvarb, Principal, Robert Finvarb Companies, Miami, FL
- Brian Gale, Managing Director, Taylor & Mathis, Miami, FL
- Zac Gruber, Senior Vice President, Easton Lynd Management, Miami, FL
- David Hunter, Vice President, Butler Enterprises, Gainesville, FL
- Charles Margiotta, Senior Vice President, Rayonier, Jacksonville, FL
- David Metalonis, Senior Vice President, Collier International, Miami, FL
- William Nicholson, Principal, Heritage Capital Group, Jacksonville, FL
- Larry Nordmann, Executive Vice President, SunTrust Bank, Orlando, FL
- Todd Powell, Director of Real Estate, Plum Creek, Gainesville, FL
- Daniel Sheehan, Managing Director, Cohen Financial, Miami, FL
- Marc Spencer, Vice President, The Ryland Group, Tampa, FL
- Cliff Taylor, First Vice President, CB Richard Ellis, Jacksonville, FL
- Doug Tuttle, Market President, Bank Atlantic, Tampa, FL
- Milton Vescovacci, Shareholder, Gray Robinson, Miami, FL
- Lisa Walters, Partner, Burke, Blue, Hutchison, Walters & Smith, Panama City, FL
- Chip Webb, Principal, Trammel Webb Partners, Inc., Orlando, FL
- Rachel Wein, Principal, Wein + Associates, Tampa, FL
In addition, since launching our new Bergstrom Council level we've added 47 members. We want to thank these members for being the founding members of the Council!
- David Arnold, Manager, Crosland LLC, Charlotte, NC
- Carl Barraco, Development Manager,
- Concept Development, Gainesville, FL
- Tim Becker, Director, Bergstrom Center, Gainesville, FL
- Beau Beery, Vice President, AMJ Realty, Gainesville, FL
- Clete Bernhardt, Orlando, FL
- Dan Byrnes, Account Executive, Capital Source Bank, Orlando, FL
- Brian Carolan, Research Analyst, Crossman & Co., Orlando, FL
- Svein Dyrkolbotn, President, SHD Development, LLC, Gainesville, FL
- Tanya Eberhardt, Miami, FL
- Felipe Echarte, Associate Vice President, Marcus & Millichap, Miami, FL
- Patrick Fitzgerald, Vice President, BankUnited, Orlando, FL
- Michael Gibbs, Director, Duff & Phelps, LLC, Atlanta, GA
- Dennis Gilkey, Principal, Gilkey Organization, Bonita Springs, FL
- Nicolas Hamann, Manager, Rockefeller Group Development Corporation, Miami, FL
- Chris Henderson, Attorney, Smith, Hulsey, Busey, Jacksonville, FL
- Abe Jose, Intern, Butler Enterprises, Gainesville, FL
- Andrew Kennedy, Associate, Metlife Real Estate Investments, Tampa, FL
- Michael Kerman, Partner & Deputy Chair, Sutherland Asbill & Brennan LP, Atlanta, GA
- Kris Kral, Real Estate Representative, Delhaize America, Tampa, FL
- George Kruse, Managing Director, Vesta Equity, LLC, Sarasota, FL
- Barry Lapides, Attorney, Duane Morris LLP, Miami, FL
- Whitaker Leonhardt, Leasing Associate, Crossman & Co., Orlando, FL
- Joe Marconi, Senior Asset Manager, Guggenheim Real Estate, Boston, MA
- Jeff McCammon, Analyst, Apartment Realty Advisors, Boca Raton, FL
- Bobby McGihon, Investment Associate, Vesta Equity, LLC, Sarasota, FL
- Eduardo Moreno, Miami, FL
- Mark Nakleh, Director, Cushman & Wakefield, Inc., New York, NY
- Michael Narula, Associate, Commodore Realty, Miami, FL
- Patrick Nutt, Senior Associate, Calkain Companies, Tampa, FL
- Jeremy Pino, Assistant Vice President, Grandbridge Capital, Tampa, FL
- Richard Reid, Director, Holliday Fenoglio Fowler, Atlanta, GA
- Preston Reid, Analyst, SunTrust Robinson Humphrey, Atlanta, GA
- Bryson Ridgway, Asset Manager, Stiles Corporation, Ft. Lauderdale, FL
- Katherine Ridgway, Associate, CB Richard Ellis, Ft. Lauderdale, FL
- Grant Rogers, Investment Analyst, Prudential Real Estate Investors, Atlanta, GA
- Orlando Sharpe, Founder, Sharpe Development Projects, Ft. Lauderdale, FL
- Scott Sherman, Senior Associate, Thor Equities, New York, NY
- Troy Simpson, Analyst, Kolter Land Partners LLC, Tampa, FL
- Frank Tetel, Vice President, Prospect Property Group, Longwood, FL
- Catey Vaughn, Assistant Development Manager, Stiles Corporation, Ft. Lauderdale, FL
- Raymond Veal, Director, Integra Realty Resources, Tampa, FL
- Paul Vera, Analyst, NAI Realvest, Orlando, FL
- RJ Walker, Director, Hawkins Construction, Tarpon Springs, FL
- Kyle Wood, Analyst, BishopBeale, Orlando, FL
- Samir Yajnik, Senior Associate, DeBartolo Development, Tampa, FL
Meet the Students
Please join us in welcoming the 2010-2011 MSRE Class into the Gator Real Estate family. Check out their resumes. They look forward to meeting as many of you as possible during their short stay with us!
The real estate program at the University of Florida continues to garner top rankings. The program was recently ranked by U.S. News & World Report "2011 America's Best Colleges" as the 6th best program overall and the 4th best program among public institutions.
In addition to our program being consistently ranked among the top in the country, our research is also top notch. According to a paper presented in the May 2010 issue of the Journal of Real Estate Finance & Economics titled World Ranking of Real Estate Research, the University of Florida was ranked #3 in the world in real estate research.
These rankings are the result of the tremendous efforts of our faculty, students and supporters.