SPRING/SUMMER 2015
TRENDS CONFERENCE / CHICAGO 2015
ABOUT
The Equity Kicker is the official newsletter of the Wisconsin Real Estate Alumni Association, Inc. CONTACT US:
www.wreaa.org office@wreaa.org (262) 746-9030 THEME: Cycles of Opportunity in a Globally Connected Market WHEN: September 17-18 WHERE: Chicago
President
Brian Berry
Oakpoint Investors McLean, VA Executive Director and Editor
Christine Dicks WREAA, Inc. Pewaukee, WI
GOLD PARTNERS
Trends Conference to Feature Cycles of Opportunity in a Globally Connected Market The Wisconsin Real Estate Alumni Association will host the 2015 Wisconsin Real Estate Trends Conference September 17-18 in Chicago, Illinois. The Conference, themed Cycles of Opportunity in a Globally Connected Market, is being chaired by Steve Buss of CBRE. The program will begin with a Networking Reception sponsored by Gold Partner Eastdil Secured on Thursday, September 17 at the River Roast in Chicago, Illinois, and will continue with a series of speakers and commercial real
SILVER PARTNER
estate industry panels on Friday, September 18 at the Mid-America Club. Friday’s program will begin with an economic overview by Jerry Webman, Chief Economist at Oppenheimer. The program will also feature discussions on global capital flows, entrepreneurial investments and innovative development projects. This conference is a high-caliber industry event providing valuable networking opportunities for attendees. Watch for details to be released soon.
IN THIS ISSUE
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New Board Member Introduced ...
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Real Estate Club Update ...
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New Hire Bolsters Program ...
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Connection Fund News ...
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WREAA BOARD OF DIRECTORS EXECUTIVE COMMITTEE Brian Berry, President (202) 365-8419 Andrew Weir, Vice-President (202) 533-2504 Steven Buss, Secretary/Treasurer (952) 924-4618 Christine Dicks, Executive Director (262) 746-9030
DIRECTORS Robert Perry, Immediate Past President (952) 984-3251 Tyler Downs, Colorado/Texas (750) 420-1568 Kristine O’Meara, Eastern Wisconsin (414) 750-0008 Maxwell Peek, Illinois (312) 948-4566 Peter Deanovic, Minnesota (612) 779-4371 Cody Langeness, Northeast (212) 277-6427 John Simerlein, Northern California (415) 276-6947 James Geimer, Pacific Northwest (206) 661-3764 Tyler Edgarton, Southeast (404) 601-9500 Alan Carmichael, Southern California (949) 509-5006 Matthew Braun, Western Wisconsin (608) 833-8100 Kelli Carhart, At-Large Director (512) 681-4507 Alex Antolino, At-Large Director/ Recent Graduate (216) 755-6706
ADMINISTRATIVE OFFICE Christine Dicks, Executive Director Mandy Kaegy, Communications and Program Coordinator Jane Miller, Admin. Coordinator
Wisconsin Real Estate Alumni Association, Inc. P.O. Box 307 Pewaukee, Wisconsin 53072 Website: www.wreaa.org Phone: (262) 746-9030
BOARD / INTRODUCING NEW MEMBERS
Say Hello to ... Kelli Carhart AT-LARGE DIRECTOR
The WREAA Board of Directors welcomes Kelli Carhart (BBA 2002) who was elected to serve as an At-Large Director in February. Kelli is Freddie Mac’s Director of Multifamily Production & Sales – Texas. She relocated to Austin, Texas to open the Texas office for Freddie Mac Multifamily in April of 2013. She is responsible for managing and structuring multifamily transactions in Texas through Freddie Mac’s extensive network of seller-servicers, which represents over $4 Billion in annual production. Freddie Mac’s Texas multifamily mortgage portfolio totals $18 Billion across loans held for investment, K-deals and guarantees. The state of Texas led originations nationally in 2014 and has consistently represented 15% of national originations at Freddie Mac. During her ten year tenure at Freddie Mac, Kelli has sourced over $6 billion in multifamily transactions. In addition to her Texas responsibilities, Kelli manages a team of four producers based in Texas and Chicago, who are responsible for loan originations in excess of $6 billion. She is also actively involved in Freddie Mac’s student housing platform, serving as Freddie Mac’s student housing representative for the Central and Western Regions of Freddie Mac. In her free time, Kelli enjoys spending time outdoors and traveling, as well her passion for yoga and skiing. CORNERSTONE & SUSTAINING MEMBERS 2015 1965 – 1969 Sustaining Members: Andrew Singer, BBA 1967. 1970 – 1974 Cornerstone Members: Michael Feiner, MS 1970; Bruce Johnson, MS 1972; C. J. Raymond, MS 1972; David Lenz, BBA 1973; Paul Zeller, MS 1973; Stephen Bye, MBA 1974; Paul Gilbert, MS 1974. Sustaining Members: Ray Anilionis, MS 1971; Sam Opresik, BBA 1973; Gregory Schmitt, BBA 1973; Arun Bhatia, MS 1974; Jon Hammes, MS 1974; Thomas Klein, MS 1974; James Martell, BBA 1974. 1975 – 1979 Cornerstone Members: Brad Calbert, BBA 1975; V. Michael Komppa, MS 1975; Jeffrey Davis, MS 1976; J. Peter Jungbacker, MS 1976; Milo Pinkerton, MS 1979; Malcolm Sina, MS 1979. Sustaining Members: Curt Culver, MS 1975; Mark Schmidt, MS 1976; Steven Leaffer, MS 1977; Allen Hill, BS 1979; Edward Suharski, MS 1979; Sunny Tong, MS 1979. 1980 – 1984 Cornerstone Members: Dale Gruen, MS 1980; Kristine O’Meara, BBA 1980; Arthur Pasquarella, MS 1980; Robert Aldrich, MS 1982; Michael Arneson, MS 1982; Peter Gloodt, MS 1982; Robert Bond, MS 1983; Michael Casey, MBA 1983; Jeffrey Cavanaugh, MS 1983; Christopher Casey, MS 1984; William Evans, MS 1984. Sustaining Members: Thomas McCahill, MS 1980; Catherine Quinn, MS 1980; Pamela Boneham MBA 1981; Craig Manske, MS 1981; Yvonne Schell, MS 1981; Charles Carpenter, MS 1982; Jill Hatton, MS 1982; Charles Heath, MS 1983; Stephen Rozga, BS 1983; Robert Bergenthal, BBA 1984; Lawrence Bond, BBA 1984. 1985 – 1989 Cornerstone Members: Michael Hoffmann, MBA 1985; Susan Schnoll, MS 1985; Brian Wirtz, BBA 1985; Stuart Zadra, MS 1985; Paul Rezents, MS 1986; Roy Splansky, MS 1986; Alan Chesler, MS 1987; Kevin Coffey, MS 1987; Charles Murphy, MS 1987; John Stathas, MS 1987; Gregory Reed, MS 1988; Jeffrey Rotter, MS 1988; Anthony Zanze, MS 1988; Brian Berry, BBA 1989; James Cope, MS 1989; Rod Engel, MS 1989; David Kim, BBA 1989; James Mazzarelli, MS 1989; Bruno Pasquinelli, MS 1989. Sustaining Members: Robert LeFeber, MS 1985; Charles Wagener, MS 1985; Stephen Cortese, MS 1986; John DiVall, MS 1986; Mark Ebacher, MS 1986; Michael Hines, BA 1986; Scott Dixon, MS 1987; R. Tyler Edgarton, BBA 1987; Christopher Kelly, BS 1987; Andrew Kerwin, BBA 1987; John Kiernan, MS 1987; James Roemer, BBA 1987; Patrick Dempsey, MS 1988; Michael Fruchtman, BA 1988; Howard Levy, MS 1988; Scott H. Miller, MS 1988; Paul Muldoon, MS 1988; Timothy Richey, MS 1988; Jim Ring, MS 1988; Dominic Visconsi, Jr., MBA 1988; Kevin Crummy, MS 1989; Robert Derse, MS 1989; Robert Ryan, MS 1989. < continued on Page 8
3 MESSAGE FROM THE PRESIDENT / BRIAN BERRY
Focusing on Our Goals and Objectives in 2015
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ith a productive year underway, the WREAA continues to focus on building a strong, integrated and growing Alumni Association. At the WREAA Spring Board meeting we outlined specific goals and objectives for this year that we believe will position our organization for continued success and relevance. These goals and objectives are outlined below, as well as other important updates. 2015 Goals and Objectives • Plan and conduct a highly successful Fall 2015 Trends Conference • Increase engagement with graduating students and younger alumni • Conduct 3-6 Events in all major regions within the United States • Increase awareness of and participation at WREAA activities • Enhance WREAA website • Continue growth of WREAA Career Center • Increase social media engagement • Commit to strong stewardship and governance of WREAA WREAA Career Center – Identifying New Opportunities The WREAA Career Center continues to be an important resource to alumni and students. Companies and recruiters are invited to post short job opening descriptions through WREAA at no cost. This services provides companies with potential access to our experienced WREAA members and enables those WREAA members that elect to review openings, to do so confidentially. We request that all members work to strengthen the Wisconsin real estate network by identifying and referring potential employers and recruiters so that we can enhance the WREAA Career Center. If you are not currently receiving Career Center postings by email, please edit your alumni profile on the WREAA website.
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Student Argus Training Argus continues to be the dominant software used in the property appraisal, financing and investment sale process for office, industrial and retail properties. Given this, UW Real Estate Lecturer, Arif Qureshi, developed and is now teaching an Argus software training class each semester. To round out this offering, the WREAA has committed to significantly subsidize the cost of the Argus Certification Exam for those student members who pass this course and who elect to become certified. Argus training is one of many tools that help prepare students for summer internships and full time employment. New WREAA Board Members Effective at our Spring 2015 meeting, we welcomed two new members to the WREAA Board. Kelli Carhart has joined our Board as an At-Large Director. Kelli is a 2002 graduate of the Real Estate Program at UW and is currently a Director for the Central Region at Freddie Mac, based in Austin, Texas. Kelli recently led the coordination of the Real Estate Club field trip to Austin, Texas. Alex Antolino has joined our Board as the AtLarge Recent Graduate Director. Alex is a Senior Development Manager at DDR Corporation in Cleveland and graduated from the UW Real Estate program in 2010. We welcome Kelli and Alex to the WREAA Board and look forward to serving with them. New Faculty Next fall we will see an addition to the UW Faculty. Professor Andra Ghent will be joining the UW Real Estate Faculty, coming to the program from Arizona State University. She brings a unique mix of innovative research, practical experience, teaching expertise, see BERRY on Page 7
With a productive year underway, the WREAA continues to focus on building a strong, integrated and growing Alumni Association.
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UPDATE / REAL ESTATE CLUB
Speaker Series, Spring Semester Club Trips, & Community Service Highlight Recent Activities By Bridget O’Meara & Joe Mahoney Co-Presidents
Spring Speaker Series
The Real Estate Club’s spring kickoff meeting was held on Thursday, January 29th with Steven Weiss, Vice President of Leasing with General Growth Properties. Other presenters from the semester include: Rob Toomey, Managing Director at Amstar, (Rob was joined by Peter Norenberg (BBA – 2006) and Brent Lieberman (BBA – 2014)), Rajen Shastri, CEO & Founder of Akara Partners, and Mark Theine, Senior Vice President of Asset and Investment Management of Physicians Realty Trust. Our final meeting was held on April 30th with Gary Gorman, CEO of Gorman & Company. Spring Semester Club Trips
The Wisconsin Real Estate Club headed to Austin, Texas for its spring semester trip March 4-6th. Through the generous support
of WREAA and the help of local alumni including Kelli Carhart (BBA – 2002) and Adam Cibik (BBA – 2002, MBA - 2007) it was a very successful trip to Texas’ capital city. Tours included the Seaholm Power Plant development site (a previously dormant power plant built in the 1950’s that is being redeveloped to include a mix of office space, high-rise condos, retail shops, restaurants and meeting space), WeWork (a co-working office space), JW Marriot Hotel, the Austonian (and the tallest residential building in Texas) and the Domain (a 304-acre thoughtfully planned community that is setting new standards in urban development and includes residential, retail, dining, entertainment, office, and hotel). The Club also spent an afternoon in April touring the lavish Epic Systems facility in Verona, Wisconsin. The office campus features an Indiana Jones inspired tunnel, a real life treehouse equipped to handle business meetings and a slide that takes employees down one floor. A
special thanks to club Social Chair Avery Lefkowtiz (BBA - 2017) for organizing a great trip! Community Service
On April 17th club members headed to the UW Arboretum to help restore its gardens from the wear-and-tear of winter. Volunteers dismantled the fences that protected specimens over winter, pulled weeds and repaired trails used by visitors. It was a successful outing and a great opportunity for the Club to give back to the community. Special Thanks
We would like to thank Chris Dicks and the WREAA staff for their steadfast support of the Real Estate Club. We also want to thank our advisor Sharon McCabe, Graaskamp Center faculty and staff and the countless alumni who have dedicated their time and resources to making the Real Estate Club great. On Wisconsin!
5 UPDATE / REAL ESTATE PROGRAM
Program Bolsters Faculty Roster With New Hire By Abdullah Yavas Department Chair
Andra’s research focuses on mortgage markets and mortgage securitization, with a special emphasis on aspects of mortgage markets and mortgage products that have contributed to the recent financial crisis.
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see NEW HIRE on Page 7
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One of the great strengths of our program – along with great students and terrific alums – has been the depth and breadth of our faculty. We have added to that strength by hiring a new faculty member. We are extremely pleased to have Professor Andra Ghent joining us this August. Andra holds a B.A. in economics from the University of British Columbia, an M.A. in economics from the University of Toronto and a Ph.D. in economics from the University of San Diego. Following her graduation from the University of California at San Diego in 2008, Andra joined the Zicklin School of Business at Baruch College, the City University of New York, as an assistant professor. In 2012, Andra moved to Arizona State University where she is currently an assistant professor in the Finance department at Carey School of Business. Andra’s research focuses on mortgage markets and mortgage securitization, with a special emphasis on aspects of mortgage
markets and mortgage products that have contributed to the recent financial crisis. Andra’s research has played an important role in identifying some very specific causes of the financial crisis and has made important contributions to the policy debate on the interplay of mortgage markets and financial crisis. In her highly cited paper that appeared in Review of Financial Studies, “Recourse and Residential Mortgage Default: Evidence from US States,” Andra and her coauthor Marianna Kudlyak challenge the popular viewpoint that state recourse laws are ineffective, since it has been observed that lenders rarely actually actively pursue recourse. Thus, in this received view, all loans are effectively non-recourse loans. Andra and Marianna use loan-level data to rigorously quantify the effect of recourse, and provide empirical evidence that state recourse laws do indeed play an important role in borrowers’ default decisions. Their finding that the threat of recourse deters a significant number of borrowers from default has an important implication: it suggests that a portion of mortgage default is strategic rather than involuntary. That is, a portion of borrowers default not because of inability to make their mortgage payments, but because they find it financially profitable to default (their home value fell below their mortgage balance). Given the significance and policy relevance of these results, it is not surprising that this study attracted the attention of national media outlets, including The New York Times
6 UPDATE / CONNECTION FUND
UPDATE / REGION EVENT HIGHLIGHTS
Refinancing Deal Brings Badgers Together
Madison Area Alums and Friends Tour the New Edgewater Hotel
The Wisconsin Connection Fund was the beneficiary of a donation to commemorate two transactions between UW real estate alumni Tony Carlson (BBA 2005) and Milo Pinkerton (MS 1979). Carlson, Vice President at Grandbridge Real Estate Capital, refinanced $8.6 million of multifamily property owned by Pinkerton’s MSP Real Estate. The loans were secured by rental housing properties in Milwaukee suburbs and featured a fixed rate over a fully amortizing 15 year term. The loans did not require a personal guarantee. The refinances closed in December 2014 and February 2015.
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Alumni Team Up During Acquisition Wisconsin real estate alumni teamed up to make a Wisconsin Connection donation when Ryan Companies US, Inc. acquired a 67,212 square foot office building located in Minneapolis, Minnesota. Financing was provided by Bell State Bank & Trust represented by alumnus Judy Jandro (BBA 2001). Ryan Companies was represented by alumni Daniel Levitt (MS 1987), Anders Pesavento (BBA 2005) and Andrew Twito (BBA 2008). The investment involved repositioning a 109 year old, historically significant building in a dynamically improving sub-market of the Minneapolis central business district. At acquisition, the property was 70% leased to a local law firm.
About the Connection Fund Since 1997, the Wisconsin Connection Fund has been the beneficiary of donations made by alumni and friends of the UW Real Estate Program who are involved in real estate transactions with one another. The fund is controlled in its entirety by the Connection Fund Committee for the benefit of the UW Real Estate Program and is invested in the UW Foundation. To learn more about making a donation to the fund, visit the WREAA website or call the WREAA office at (262) 746-9030.
A large group of alumni and friends gathered at the Wine Room at the Statehouse inside the Edgewater Hotel in Madison, Wisconsin in March. The get-together began with drinks, appetizers and networking. The group then heard a presentation of the history, mission and branding of the hotel from the developer, followed by a tour of the newly renovated and expanded hotel, including a special tour of the Presidential Suite. The Edgewater, a 1948 Art Deco hotel overlooking Lake Mendota, was known to have been the choice of visiting celebrities. The restoration has retained and enhanced its luxury and glamour. The hotel now features four restaurants, a spa and fitness center with lake views, and luxurious rooms. One highlight of the tour was the 90 foot media wall which showcases Madison history and history makers, and features Dr. Graaskamp. Thanks to WREAA Regional Director Matt Braun (BBA 1999) for coordinating the event!
By Minnesota Market Rep Anders Pesavento of Ryan Companies, Inc.
Nearly 30 members of the Twin Cities chapter met on Thursday, May 14th for a tour of the newly renovated Mayo Clinic Square development in downtown Minneapolis. This state of the art facility is the first of its kind for any professional sports team and showcases the unique partnership between The Mayo Clinic and the MN Timberwolves. The tour was led by the original developer Phillip Jaffe who was accompanied by Brent Robertson and Ann Rinde of JLL and Beckie Whipp of Hines Management.
Northeast Region Gets Insider Look at The Wharf By Michael Zelin, BBA 2001 of Eastdil Secured.
The WREAA Northeast region recently got an insider’s tour of The Wharf in Washington, D.C., one of the nation’s largest urban waterfront renewal projects. Led by PN Hoffman and Madison Marquette, The Wharf represents the premier mixed-use urban development on D.C.’s Southwest Waterfront. Spanning nearly a mile of continuous shoreline along Washington’s waterfront, The Wharf will create a truly exceptional, pedestrian friendly, mixed-use urban destination that will reconnect Washington with its historic waterfront. Upon full build-out, the project will encompass over 3 million square feet of total development with a variety of high-end apartments, luxury condos, premier office and retail space and a 3,500 seat music/cultural venue. Jon McAvoy, Vice President and Director of Finance for PN Hoffman guided alumni and friends through the development model. After touring the model, the group was able to view down at the large construction site and then headed over to a nearby restaurant for some Friday afternoon beers!! It was a great day.
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this is UPDATE/REAL ESTATE PROGRAM from Page 5
and dedication to the business community. Her research interests include the study of mortgages, mortgage laws, and the MBS market. Please join me in welcoming Professor Ghent.
and Wall Street Journal. Another widely debated issue around the financial crisis involves the role of securitization, the practice of pooling a group of mortgages and selling shares/ securities based on the pool to third-party investors. In her solo article in the Review of Financial Studies, “Securitization and Mortgage Renegotiation: Evidence from the Great Depression,” Andra challenges another popular viewpoint: that securitization is the reason lenders did not voluntarily modify the loan terms for distressed borrowers during the crisis. This viewpoint is based on the argument that securitization reduces the incentives for the lender to modify the loan. The securitized loan is owned by third parties, and the received view is that securitization makes it more difficult and legally challenging to modify the loan because the approval of all thirdparty investors might be needed. To test this view, Andra collected mortgage loan data for the 19201939 period, a period that also involved a major economic crisis, but from a time when very few mortgages were securitized. She shows that loan modifications were rare during the 1920-1939 period as well. This casts substantial doubt on the hypothesis that securitization is the main reason lenders are reluctant to modify residential mortgages. Andra is also a first-rate teacher. Andra’s dedication and strong teaching performance was recognized by the Zicklin School of Business at Baruch College in 2010 when she was given the Dean’s Teaching Excellence Award. Andra has taught a wide range of courses including Real Estate Finance, Advanced Financial Analysis for Commercial Real Estate, Real Estate Fundamentals, Real Estate Capital Markets, Investment Strategies in Property Markets and Property Investments and Real Estate Finance. Andra brings a unique mix of innovative research, practical experience, teaching expertise, and dedication to the business community, an excellent fit for the Wisconsin Real Estate program. We competed with at least one other top real estate department in
Fall 2015 Career Night In addition, the WREAA plans to host a Career Night during one of the Real Estate Club fall meetings in order to increase interaction among alumni and students. 2015 WREAA Trends Conference Finally, the WREAA will host the Wisconsin Real Estate Trends Conference in Chicago, Illinois, commencing with a reception on Thursday September 17 and a one-day conference on Friday, September 18. This year’s Trends Conference Chair is UW Alum Steve Buss (MS 1994). The conference agenda and keynote speakers will be announced shortly. We look forward to seeing you at the Trends Conference. In conclusion, on behalf of WREAA, I would like to express our gratitude to our 2015 corporate partners, Eastdil Secured, First American Title Company and JLL. We would also like to recognize the many members of WREAA who work to strengthen the Wisconsin Real Estate Network and Program. This begins with Connection Fund donors and extends to our Cornerstone and Sustaining members, our Regional Market Representatives and student mentors. The support we receive from our corporate partners and our members make it possible for the WREAA to forge innovative pathways to a stronger alumni network and real estate program. We welcome your ideas and feedback. Please reach out to me or any member of our Board or to our Executive Director, Chris Dicks. Your involvement has a direct positive impact on our success.
the country to hire Andra. When asked about why she chose to join the UW Real Estate faculty, Andra’s response was “Wisconsin’s reputation as an international leader in real estate education was the main draw for me. The real estate faculty at Wisconsin are worldclass researchers and teaching at Wisconsin will allow me to shape the future leaders of the real estate industry.” We are also excited by the substantial rise in our undergraduate enrollment. The number of real estate majors has increased to 211 this semester, from 156 majors in the spring of 2014 and 141 majors in the fall of 2013. We have had significantly more MBA applications this year but not all have hit our desired mix of metrics, including experience and passion for real estate. We expect the incoming class to be similar to the incoming classes in the last few years and to have between 12 to 14 students. The enrollment in our GREM program for next fall is looking very promising. Our efforts to increase enrollment in GREM have started to pay off. Compared to six students we have had in each of the last three years, we expect the next year’s GREM class to have 18-20 students. As they do every year, our first year MBA students went to Cannes, France to attend MIPIM and our undergraduates attended the EXPO Real in Munich, Germany. Our second-year MBA students had a fantastic global study tour to Dubai, Abu Dhabi, and Istanbul. The Real Estate Club Career Fair in February was also a great success. We had capacity attendance with 40 companies attending and over 100 real estate undergrads and MBA students. Our undergraduate and MBA students continue to perform exceptionally well in almost every case competition in which they participate. We offer a world-class education to our students and engage in cutting edge research and outreach activities. We will continue to focus on improving the quality of our education, outreach, and research so we can maintain our leadership in global real estate education. On Wisconsin!
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CORNERSTONE & SUSTAINING MEMBERS 2015 (continued) 1990 – 1994 Cornerstone Members: Jerome Fink, MBA 1990; Aaron Goldman, BBA 1990; Derek Chen, MBA 1991; Richard Kalvoda, MS 1991; Howard Paster, BA 1991; Robert Perry, MS 1992; Patrick Waite, MS 1992; Scott Haskins, MS 1993; Duane Lund, MS 1993; Steven Buss, MS 1994. Sustaining Members: Mark Berry, MS 1990; Christopher Charnas, MS 1990; Michael Conaghan, MS 1991; Richard Bondarowicz, BBA 1992; John Ehle, BA 1992; Sharon McCabe, MS 1992; Joseph Walsh, MS 1992; Thomas Craig, MS 1994. 1995 – 1999 Cornerstone Members: David Desforges, MBA 1995; Ron Hubbard, MS 1995; Paul Melkus, MS 1995; Michael LaCour-Little, PHD 1996; Joseph Wagner, MS 1996; Jaime Fink, MS 1997; Andrew Weir, MBA 1997; Jonathan Block, BBA 1999. Sustaining Members: Brett Matzek, BBA 1995; Shari Crivello, MBA 1996;
Matthew Ewig, BBA 1996; Brandon Buza, MS 1997; Jeffrey Possin, BBA 1997; Susan Chapman, MBA 1998; Fredric DeVillers, MBA 1998; Matthew Lund, MS 1998; Brandon Megal, BBA 1998; Brian Mutchler, BBA 1998; Sean Phelan, MS 1998; Ted Carlson, BBA 1999; Robert Gersch, BBA 1999; Andrew Hess, BBA 1999; Justin Leonard, BBA 1999; Ryan Mallery, BBA 1999; Daniel Rikkers, BBA 1999; Aaron Siegel, BBA 1999. 2000 – 2004 Cornerstone Members: Christopher Barnes, BBA 2000; Shannon Bauer, BBA 2000; Brian Eisendrath, BBA 2000; Kevin Page, BBA 2000; Steven Pape, BBA 2000; Brenton Rogers, BBA 2000; Jonathan Weerts, BBA 2000; Marissa Behrens Downs, BBA 2001; Marc Freschl, BBA 2001; Samuel Ankin, BBA 2002; Tyler Downs, MS 2002; Stewart Kirkham, MBA 2003; John Simerlein, BBA 2003; Ryan Freedman, BBA 2004; Arif Qureshi, MS
2004. Sustaining Members: Christopher Leff, BBA 2000; Kendra Stensven, BBA 2000; Raymond Young, MBA 2000; Andy Goetz, BBA 2001; Gabriel Pozo, BBA 2001; Shampa Bhattacharya, MS 2002; James Graham, MS 2002; Jesse Zarouk, BBA 2002; John Hoffman, MBA 2003; Maxwell Peek, BBA 2003; Joshua Cromer, BBA 2004. 2005 – 2009 Cornerstone Members: Michael Moran, MBA 2006. Sustaining Members: Jeffrey Robbins, BBA 2005; Peter Deanovic II, BBA 2006; Gabriel Horstick, BBA 2006; Cody Langeness, BBA 2006; Scott San Filippo, BBA 2007; Michael Pfaff, MBA 2008; Katherine Bergen, BBA 2009. 2010 – 2014 Sustaining Members: Daniel Soyka; MBA 2010; Alejandro Mazariegos, MS 2011. WREAA Friends Cornerstone Members: Stuart Ackerberg, Nicholas Howard.
NAMES IN THE NEWS Jason Brandenborg (BBA 2008) has joined GLP as a Senior Associate - Asset Management in Chicago, Illinois and can be reached at Jason.Brandenborg@gmail.com. Ian Johnson (BBA 2013) has joined Redwood Capital Group, LLC as an Analyst in Chicago, Illinois and can be reached at itjohnson123@gmail.com. Nicholas Siegel (BBA 2012) has joined Bridge Development Partners, LLC as a Financial Analyst in Chicago, Illinois and can be reached at nsiegel@bridgedev.com. Robert Stanek (MBA 2009) has joined CarVal Investors LLC as Director in Hopkins, Minnesota and can be reached at robert.l.stanek@gmail.com. Jessica Entingh (BBA 2007) has relocated from Wheaton, Illinois to Maple Valley, Washington. She is a Senior Project Manager for JLL and can be reached at jessica.entingh@am.jll.com. Stewart Miller (BBA 2004) has joined Blue Cross Blue Shield as a Project Coordinator/Manager in Chicago, Illinois and can be reached at SJMillerJK@gmail.com. Daniel Metzger (BBA 1998) has joined Brue Capital Partners, LLC as a Senior Vice President in Denver, Colorado and can be reached at danvmetz@yahoo.com. Andrew Schwartz (MBA 2010) has joined Taconic Investment Partners, LLC as a Senior Associate in New York, New York, and can be reached at andrewaschwartz@gmail.com. Lynn Pearson (MBA 2006) has joined Walker & Dunlop as a Senior Analyst in Hartland, Wisconsin and can be reached at lpearson@walkerdunlop.com. Ann Hempfling (BBA 2002) has joined PennyMac CREF as Vice President, Acquisitions and Asset Management in Irvine, California and can be reached at Ann.Hempfling@pnmac.com. Peter Deanovic II (BBA 2006) has joined Buhl Investors as Founding Principal in Edina, Minnesota and can be reached at Pete@Buhlinvestors.com. Geoffrey Kieffer (BBA 1971) has joined PM Realty Group as Senior Vice President in Washington, DC and can be reached at gkieffer@pmrg.com. Brandon Wiltgen (BBA 2003) has joined Great Southern Bank as a Commercial Loan Officer in Coralville, Iowa and can be reached at brwiltgen@uwalumni.com.