Shaping the next generation of real estate professionals. Hollo School of Real Estate
Hollo School of Real Estate
TIBOR HOLLO
Together we can shape the next generation of real estate professionals. Real estate is a dynamic profession, one that challenges our best minds to explore how to use our limited resources in order to finance and create useful, exciting places to live, work, and play. I am grateful that Florida International University embraces this challenge in its real estate program, and I am proud of our association. I hope you will join me in supporting FIU and its mission to protect and expand our real estate profession. There are many ways in which you can engage with the real estate program, and play an integral role in its growth and expansion. With your help—whether as a mentor, employer, guest speaker, or contributor—together we can shape the next generation of real estate professionals. Tibor Hollo
PLAY AN INTEGRAL ROLE.
MENTOR EMPLOY SPEAK CONTRIBUTE
Tibor Hollo, Chairman & President of Florida East Coast Realty (FECR), is considered the architect of modern Miami, having built the first high-rise on Brickell Avenue. Hollo has made his mark by advocating and developing innovative projects that emphasize living, working, and playing in the urban core. Since its founding over 60 years ago, FECR has been involved in the development of over 60 million square feet of residential, commercial, retail, hotel, and industrial space, with landmark projects from New York to Nevada and throughout Florida—and with even more yet to come.
DR. WILLIAM HARDIN
We welcome your involvement and support. Real estate is a strategic focus for Florida International University. Faculty at the Hollo School of Real Estate are world-renowned and our Jerome Bain Real Estate Institute is highly regarded for its research and outreach. Through our undergraduate and graduate programs, we are developing leaders who can solve the most challenging problems for the best organizations in the real estate industry. Miami and South Florida have a unique global real estate profile, and our student body reflects this, with 80% of our students having international backgrounds. Our programs provide our students with a real-world, practical education focused on critical thinking skills balanced with solid academic research and theory. Students graduate with a keen understanding of the risks, rewards and responsibilities that come with creating new urban landscapes. As a globally recognized, university-based school of real estate, we offer vast resources for real estate professionals in our community. Whether you are interested in the award-winning research of our faculty, the pursuit of an undergraduate or graduate degree in real estate, unbiased real estate reporting and commentary, measures of market performance, connecting with current students or alumni, we welcome your involvement and support. Dr. William Hardin Director Tibor and Sheila Hollo School of Real Estate
STRATEGIC FOCUS.
Shape the future of real estate professionals
JEROME BAIN REAL ESTATE INSTITUTE
EVENTS
The Jerome Bain Real Estate Institute:
Signature Events at the Institute
Linking FIU to the real estate community.
Bi-annual Developers Luncheon This educational forum allows students, young professionals, and alumni to gain true insight into the world of commercial and residential development. Speakers have included:
The institute is named for FIU alumnus Jerome Bain and honors his commitment to real estate and the Miami Association of Realtors. The founding endowment for the institute was from an estate gift administered by the Miami Association of Realtors’ Educational Foundation which created a partnership with FIU to foster university level real estate education.
Michael Adler Chairman of The Adler Group
The Jerome Bain Real Estate Institute partners with the Miami Association of REALTORS to link FIU real estate students, faculty and alumni to industry through three pillars:
Education
Research
Ê Coordinates a real estate major for undergraduate students through FIU’s Landon Undergraduate School of Business
Ê Supports FIU faculty in the development and dissemination of internationally recognized research and analysis
ÊS ponsors seminars, symposia, webinars and conferences for real estate professionals
ÊH elps fund research by faculty members recognized as being in the Top 20 in Real Estate Research (Journal of Real Estate Finance and Economics (2008)
Ê Supports the Chapman Graduate School of Business’ Master of Science in International Real Estate program
ÊR ecognizes director Dr. William Hardin as a member of the real estate research “Hall of Fame”
Malcolm Butters President and Co-Founder of Butters Construction & Development Alan Ojeda President and CEO of Rilea Group and the developer of 1450 Brickell
Miami River Boat Tour This educational real estate tour gives students and alumni the opportunity to learn about the commercial and residential properties that flank the Miami River. Faculty members and real estate professionals share "behind the scenes" information about the success and failures of properties along this critical artery of commerce. Through this plot-by-plot tour, students and alumni learn about zoning, project development, speculation, property utilization and more.
Outreach Ê Fosters connections across all facets of the real estate industry ÊA llows for an advisory board of leading real estate professionals providing counsel and support ÊP rovides students with unique opportunities to connect with the real estate community ÊC onnects students with industry leaders from the Miami Association of REALTORs
FOSTERING CONNECTIONS.
LEADERSHIP SUPPORT DEVELOPMENT OPPORTUNITY
FACULTY RESEARCH
FACULTY
Active researchers at the frontier of knowledge. The faculty members of the Hollo School of Real Estate are leading scholars, pursuing research that advances knowledge in key areas of real estate and finance. Faculty members are highly published in the top journals in the field, work with industry leaders, and present cutting edge research throughout the world. William Hardin Tibor and Sheila Hollo Fellow Director, Jerome Bain Real Estate Institute Professor, T&S Hollo School of Real Estate Dr. Hardin has an extensive publication record in the top real estate journals, and has presented his research at major real estate and finance conferences. Dr. Hardin’s research has been published in Real Estate Economics, Journal of Real Estate Finance and Economics and Journal of Real Estate Research. His areas of expertise include commercial real estate, mortgage choice and finance, and real estate brokerage, finance and pricing. In a recent article, he was ranked 11th globally in academic real estate research during the 2000-2006 period. Dr. Hardin worked in commercial banking and development prior to earning his terminal degree.
Zhonghua Wu Tibor and Sheila Hollo Research Fellow Associate Professor, T&S Hollo School of Real Estate Dr. Wu’s research interests include real estate capital markets, commercial property markets, and corporate finance. Dr. Wu’s research has been published in Real Estate Economics, Journal of Real Estate Finance and Economics and Journal of Real Estate Research. Prior to his academic career, Dr. Wu worked as a research associate for the National Bureau of Statistics in China.
Suzanne S. Hollander Instructor, T&S Hollo School of Real Estate Industry Liaison for the Jerome Bain Real Estate Institute Suzanne Hollander represents national and international owners with commercial property in Downtown Miami. She provides real estate consulting services to private clients with properties in the City of Miami and serves as the official representative to the real estate community on behalf of FIU’s Jerome Bain Real Estate Institute.
Eli Beracha Tibor and Sheila Hollo Research Fellow Assistant Professor, T&S Hollo School of Real Estate Dr. Beracha’s research interests include real estate finance, investments and corporate finance. He is the managing editor of the Journal of Real Estate Practice and Education, and his research has been published in Real Estate Economics, Journal of Real Estate Finance and Economics and Journal of Real Estate Research. Previously, he was an assistant professor in the Department of Economics and Finance at the University of Wyoming. Outside of his academic experience, Dr. Beracha was the principal financial consultant for a $25 million real estate development in Jackson Hole, Wyoming, and is the co-founder of the Beracha, Hardin and Johnson Buy vs. Rent Index.
Faculty Research Recent faculty research papers: Ê REIT Stock Prices and Inflation: Inflation Hedge or Inflation Illusion? *
Ê Pictorial Representation in a Multiple Listing Service and its Impact on Property Price and Marketing Time*
ÊL essons from Over 30 Years of Buy versus Rent Decisions: Is the American Dream Always Wise? ¹
Ê Information Asymmetry and Corporate Liquidity Management: Evidence from Real Estate Investment Trusts*
Ê Flood Zone Uncertainty and the Likelihood of Marketing Success†
Ê Green Design and the Market for Commercial Office Space*
ÊT he Inventory-Sales Ratio and Homebuilder Return Predictability*
ÊT he Corporate Governance Premium, Returns, and Mutual Funds⁰
ÊA full summary of faculty research can be found at realestate.fiu.edu/ research
* Journal of Real Estate Finance and Economics ⁰ Financial Review ¹ Real Estate Economics † Journal of Housing Research
OUR PROGRAMS
The largest real estate program in Florida.
Industry Interaction Industry Relations with Hollo School of Real Estate
The Master of Science in International Real Estate (MSIRE) is the only program that combines the mastery of real estate fundamentals with a true international focus. The program focuses on the assessment of financial, legal, project development, risk and marketing aspects of real estate that link domestic and international real estate transactions. Students may choose from a variety of program delivery options: Ê MSIRE at the Chapman Graduate School of Business’ Downtown on Brickell facility
Ê Online MSIRE, a fully online program through FIU Online Ê Dual degree program through Universidad Francisco Marroquín University (UFM) in Guatemala: Masters in Project Management (MAPI) from UFM and the MSIRE from FIU Ê J oint master's degrees are offered with the Master of Business Administration, the Master of Science in Finance and the Master of Science in Hospitality Management
The Bachelor of Business Administration with a major in Real Estate provides undergraduates with a solid foundation in the functions of real estate markets, real estate practices, and real estate institutions. Graduates emerge ready to play a vital role in the real estate industry.
75
FIU is one of fewer than 75 universities in the United States that offers an undergraduate major in real estate, and one of less than 60 universities that offers a business focused graduate program in real estate.
THE HIGHEST
15%
Fully accredited degree program from top-ranked Chapman Graduate School of Business — in the highest 15% in the U.S.
EXPANDED BY
60k
Outstanding facilities — MSIRE at FIU Downtown on Brickell, the university’s recently expanded, 60,000-square-foot facility in the heart of downtown Miami.
We believe that the best way to succeed in the real estate industry is through participation in its leading professional organizations. Through the real estate program’s industry relationships, students gain crucial knowledge to help them advance their careers and each industry partner plays an important role in shaping the next generation of real estate professionals. The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors. MIAMI represents more than 26,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage and is the largest local association in the nation. A gift from the MIAMI Educational Foundation was instrumental in creating the Jerome Bain Real Estate Institute.
Ê Flex MSIRE, a hybrid program that includes online interactive video streaming and in-person classes
FEWER THAN
OUR PARTNERS
THE FIRST
online Online MSIRE is the first online graduate program in real estate in the nation from an AACSBaccredited college of business.
The REALTORS Commercial Alliance of MIAMI (RCA) seeks to serve commercial members and to shape and unify the commercial real estate brokerage and service industry in South Florida. The RCA often provides excellent educational events on our main campus and works with our Real Estate Alumni and Affinity Council to promote real estate education to the FIU alumni involved in the real estate industry. The International Council of Shopping Centers (ICSC) is the global trade association of the shopping center industry with 60,000 members in over 80 countries. ICSC is providing excellent speakers for the MSIRE program and make it possible for our MSIRE students to attend the annual South Florida Idea Exchange. Certified Commercial Investment Member (CCIM) Institute The MSIRE program participates in the CCIM/University Fast Track Program. Through this program, CCIM candidates who graduate from FIU’s MSIRE program earn credit for three of the four required CCIM courses, to earn their designation. Miami Chapter of CCIM has been working with our students to allow them to attend networking social events at no cost. Urban Land Institute (ULI) The Urban Land Institute provides leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. ULI is an independent global nonprofit supported by members representing the entire spectrum of real estate development and land use disciplines.
RESA
REAAC
REAAC
RESA
Real Estate Alumni Affinity Council (REAAC) The Real Estate Alumni Affinity Council at Florida International University links active real estate professionals with one another and with FIU’s real estate programs. Members encompass professionals from all areas related to real estate including brokerage, investments, law, architecture, engineering, finance, appraisal and other related areas. REAAC also serves as a resource for the Real Estate Student Association (RESA) and helps facilitate the transition of students to professionals. REAAC is organized and managed by its members with program support from FIU’s College of Business and the Jerome Bain Real Estate Institute.
The Real Estate Student Association (RESA) at FIU links students with the real estate community. RESA is open to undergraduate and graduate students with a broad interest in real estate as it impacts society and as a career choice. Career workshops, property tours and monthly speakers introduce students to the many career paths in commercial and residential real estate.
Real estate professionals can help shape vibrant communities, neighborhoods and cities. REAAC wants to be at the forefront of that change, with events that help members enhance their ability to sell the vision of Miami to the world. We are professionals from all areas of real estate, but the common ground we share is FIU. Our focus is on creating events that build relationships—bringing in speakers that have something important and insightful to say about the current and future state of Miami real estate. Fernando Arencibia, Jr. ‘13, P.A. President FIU REAAC
Shaping vibrant communities, neighborhoods & cities.
REAAC Partnered Events bus tours
networking
Bus tours of Wynwood, the Design District and other Miami neighborhoods
Networking events with industry leaders, with speakers and panelists that have included city planners and representatives from the Beacon Council, Art Basel, and Greater Miami Convention & Visitors Bureau
co-sponsoring Co-sponsor of the professional organizations program, which brings leaders from CRA, CCIM, NAIOP, ULI and ICSC on campus
Access to students who are ready to be future leaders in the community. Through RESA, I'm able to gain first-hand knowledge from the people who are vital in the real estate market—the developers, asset managers and brokers who are shaping South Florida—and that's exciting. Real estate companies that connect with RESA have access to students who are motivated and hard working, and who are ready to be future leaders in the community. Joshua Kaufman '13 President Real Estate Student Association
RESA Events Panel of Professionals This annual event offers students the opportunity to network with real estate professionals from various organizations and learn about career options.
Leadership and CEO Speakers Florida International University has strong ties with the real estate community and many leaders interact with students as panelists for special programs, guest lecturers in the classroom, speakers at forums and other events.
Commercial Real Estate Women Miami’s U-CREW This annual event features CREW Miami professionals discussing their careers and answering questions with FIU students.
Property and Neighborhood Tours Students get an insider’s perspective through property and neighborhood tours guided by real estate professionals. Past events have included an industrial property tour of Beacon Lakes with developer Prologis, and neighborhood tours of the Design District, Wynwood and Mary Brickell Village, among others.
ARGUS CHALLENGE
First time competitors; third place win. ARGUS University Challenge A team of graduate students from from FIU’s Hollo School of Real Estate embarked on their first national contest, entering ARGUS Software’s 2013 University Challenge, a business case competition using the real estate software. With 20 other prestigious university programs in the mix, the FIU team was expecting a solid learning experience in their first outing. Yet their hard work and skilled analysis brought something they didn’t expect: a third place finish, placing ahead of top-tier programs that included NYU, Wharton School, Columbia and the University of Chicago.
“The opportunities for networking are limitless.” Even before I have earned my degree, I am already reaping tremendous rewards from the MSIRE program. The faculty and alumni were instrumental in opening doors to my current position at one of the top real estate appraisal firms in the nation. And with guest lecturers, panel discussions with industry leaders and the chance to attend industry conferences, the opportunities for networking are limitless. With students from China, Peru, Spain, Venezuela, Germany and Italy—the MSIRE program is truly international in scope; it has more than lived up to my expectations. David Maggard BS in Hospitality '13 MSIRE '14
TREMENDOUS REWARDS.
CHALLENGES COMPETITIONS ANALYSIS AWARDS
SCHOLARSHIPS
Scholarships made possible with generous support. Scholarships A variety of awards are available for entering and continuing students. FIU’s Hollo School of Real Estate alumni are generous supporters of scholarships. The FIU Real Estate Program is also proud of additional awards it distributes in partnership with such distinguished organizations as the Miami Realtors, Urban Land Institute (ULI) and International Council of Shopping Centers (ICSC).
“No other school in South Florida keeps you as connected and engaged as FIU does.” The specialized knowledge that you gain from the program is invaluable. I landed my internship at a retail real estate firm through the School of Real Estate's network—no other school in South Florida keeps you as connected and engaged as FIU does. Coming from the world of professional tennis, I feel as if FIU has prepared me for the Wimbledon of real estate. Now it will be up to me to earn the trophy. Alyona Tstutskova MSIRE '12
Glenn J. Rufrano Scholarship
Malcolm Butters Real Estate Award
$2,000 scholarship for undergraduate students named after FIU alumnus, Glenn J. Rufrano. Mr. Rufrano formerly served as President and CEO of Cushman & Wakefield, as well as, CEO of New Plan Excel Realty Trust, Inc.
An annual amount totaling $25,000 will be award to one or more graduating students in the Master of Science in International Real Estate program with documented student loan debt.
ICSC Chapman Graduate School Scholarship $5,000 for students affiliated with the International Council of Shopping Centers (ICSC).
Jerome Bain Endowed Scholarship $2,500 merit-based scholarship available for applicants to the MSIRE Program.
Miami Realtors Chapman Graduate School Scholarship $5,000 for students affiliated with Miami Realtors.
ULI Chapman Graduate School Scholarship $5,000 for students affiliated with the Urban Land Institute (ULI) Southwest Florida/Caribbean District Council.
VALUABLE PARTNERSHIPS.
SUPPORTERS ORGANIZATIONS SCHOLARSHIPS PARTNERS
GET INVOLVED
Get involved. Make an impact. The Hollo School of Real Estate offers a number of ways for real estate professionals to connect with faculty and students. We value your time, your talent and your philanthropic contributions—all of which make our real estate programs vibrant, relevant and innovative. Connect in whatever way is best for you and your company. We look forward to developing and maintaining partnerships that are mutually beneficial. Mentor a student Through our mentoring program, student protégés gain insights into career paths while mentors experience the satisfaction of guiding the next generation of real estate professionals.
Hire our students FIU offers employers a uniquely qualified talent pool. From interns to senior executives, the Hollo School of Real Estate is your source for business talent. We have a full range of options to help you identify the perfect candidate from among MSIRE and BBA students.
Donate Your contributions are the fuel that allows our students and faculty to do more—whether it’s travel to an international conference or the next real estate competition, or underwriting the cost of bringing new technology into the classroom—your financial gifts, in any amount, are always appreciated. You may contribute to the Real Estate Fund for Excellence at realestate.fiu.edu/donate
Give a property tour Help make classroom concepts come alive for our students through a tour of your commercial, residential or industrial property. Property tours are one of the best ways for us to forge strong links between our programs, students and the projects that are moving South Florida's real estate industry forward.
AT THE FOREFRONT OF CHANGE.
CONNECT CONTRIBUTE DEVELOP BENEFIT
HOLLO SCHOOL OF REAL ESTATE 1101 Brickell Avenue, S-1100 Miami, FL 33131 (305) 779-7898 realestate.fiu.edu msire@fiu.edu
Shaping the next generation of real estate professionals.