On Thursday, February 8, both undergraduate and graduate students filled the Pyle Center for pizza, beverages, and the first Real Estate Club meeting of the Spring semester. Students came out despite the snowstorm to see the recipient of the 2018 Innovator Award. Before introducing the award, new Co-Presidents Nick Brown and Bethany Corbae highlighted a few of the exciting things planned for the semester including the 18th Annual Real Estate Career Fair and a Real Estate Club Spring trip to Boston, MA.
Mike Brennan, Executive Director of the Graaskamp Center for Real Estate, was introduced to discuss and present the award. The origins go back to Richard Ely and James A. Graaskamp, known as the founders of urban land economics and real estate education not just at the University of Wisconsin, but in the United States. The Innovator Award recognizes individuals who help advance the Real Estate Industry through their commitment and innovation. Mike also spoke about a recent $250,000 gift to the Innovator award from alumni James Cope, Patrick Dempsey and Walker & Dunlop. The gift includes a scholarship for a first year MBA student designed to inspire students to carry on the great tradition at UW.
Mike Brennan then presented the 2018 Innovator Award to Bob White, founder of Real Capital Analytics (RCA). Bob White founded Real Capital Analytics in 2001 and currently serves as President. In 2005 he was rated one of “10 CEOs to Watch” by Real Estate Investor Magazine. Real Capital Analytics provides real time information about real estate capital markets all over the world.
White presented on several interesting trends from 2017 and what to expect in the future of real estate. RCA reported $485 billion in US Real Estate transactions of the main property types, and $1.55 trillion globally. White discussed how RCA now tracks the development cycle and reported $1 billion in development in Madison, WI. White touched on how suburban office sector is experiencing more growth than the CBD office sector, a trend that is expected to continue. An interesting trend within the multifamily sector is apartments branding themselves in a similar fashion to hotels with several different brands targeting different people. He also touched on real estate from an international perspective, indicating the highest capital outflow from the US is to Germany, Spain, and the UK. White acknowledged that RCA believes in real estate education and offers industry data to students with an .edu email address free of charge. The presentation provided students with great metrics describing the current real estate capital markets industry.
The next Real Estate Club meeting is on February 22. Dean Shapiro from Oxford Properties Group will be the speaker and will discuss Oxford’s investment in the Hudson Yards development project. The Club will be traveling to Boston, MA on March 1 for the annual spring trip.
Click here to view Bob White’s presentation.