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REIAC Forms Alliance with MRED Program at W. P. Carey School of Business

The Southwest Chapter of REIAC, an organization of real estate executives involved in developing, acquiring and/or financing real estate, has formed a partnership with Arizona State University’s Masters of Real Estate Development (MRED) program at the W. P. Carey School of Business.

REIAC has provided $5,000 in scholarships for the 2013-14 academic year and recently awarded two MRED students with $2,500 awards. Requirements of the scholarship program include being a full-time student, an Arizona resident and preferably, having the desire to work locally upon graduation.

“Aligning with the MRED program is a way to bridge the gap between academic knowledge and professional standards, strengthen the investment management arena and ultimately better the commercial real estate community as a whole,” said Todd Jarman, board president of REIAC Southwest and senior vice president, BBVA Compass.

In addition to the scholarship program, REIAC is hosting the REIAC/Rockefeller Group Challenge in the spring, a MRED student case study competition sponsored by The Rockefeller Group. The competition will be judged by REIAC members and MRED faculty, for a cash prize of up to $6,000 to the winning student team.

REIAC is looking for MRED teams to demonstrate their strategy for a local development project that includes acquisition, financing, entitlements and design.

“Our students will be demonstrating their ability to apply mastery of a real estate investment and development opportunity and determining the feasibility of development, from analyzing existing buildings to working with local agencies, dealing with market realities, design, construction, finance and legal issues,” said Mark Stapp, executive director of MRED.

“The REIAC/Rockefeller Group Challenge provides students an experience that teaches them how to apply the theory of real estate in a practical way only available because of local industry support that comes from this Challenge,” Stapp said.

“Many of Phoenix’s real estate executives have ties to ASU and a significant number are also members of REIAC. The alliance allows for the students to have access to local real estate leaders and we’re looking forward to seeing the teams showcase their talents in the annual REIAC/Rockefeller Group Challenge,” said Mark Singerman, REIAC board member and regional director-Arizona for The Rockefeller Group.

The Rockefeller Group has a longstanding history of supporting education. The W.P. Carey Evening MBA program will be located at The Rockefeller Group’s Chandler 101, an 844,000 SF mid-rise office development in Chandler’s Price Corridor.

Phoenix-Area Housing Market

How to Survive the Phoenix-area Housing Market

The Phoenix-area housing market is especially difficult for home buyers to navigate right now. They face rising prices, competition from investors and other bidders, and a short supply of available homes for sale. That’s why The Arizona Republic and the ASU Real Estate Council at the W. P. Carey School of Business are hosting a free event to help people sort through the complications.

“We keep hearing from potential home buyers how tough it is to deal with current conditions in the Valley housing market,” says Catherine Reagor, who covers the real estate market for The Arizona Republic and azcentral.com. “This is one way to help.”

The event called “Phoenix Housing Market Explained” will be held Saturday, April 6, starting at 9:30 a.m. at Arizona State University’s Tempe campus.

It will feature:

* Catherine Reagor, senior real estate reporter for The Arizona Republic
* Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business
* Mark Stapp, the Fred E. Taylor Professor in Real Estate and director of the Master of Real Estate Development (MRED) program at the W. P. Carey School of Business

The three will participate in a panel discussion and then take questions from the audience. Reagor will offer insight into what she’s seeing as buyers and sellers negotiate ever-changing market conditions…and prospective buyers try to secure a mortgage.

Orr, a prominent real estate expert whose monthly reports on the Phoenix-area housing market are often covered by the national media, will talk about many factors that could affect prospective home buyers right now.

“Everything from investors to rising prices and the short supply of houses are coming into play for people who want to own a new home,” says Orr. “It can be frustrating to bid repeatedly for properties and still come up dry. I’ll go over some of the latest data that could help provide an edge.”

Stapp, an established real estate developer himself, will moderate the discussion and explain current trends in new-home building.

The event will be held in the Business Administration C-Wing Building, or BAC, at 400 E. Lemon St. at ASU in Tempe. Parking is available just across the street at the intersection of Apache Boulevard and Normal Avenue. Signage will direct participants from the garage to room BAC 116 on the first floor of the BAC building.

Because space is limited, registration is encouraged at conversations.azcentral.com. More information about the event can be found at www.money.azcentral.com, www.wpcarey.asu.edu, or by calling (602) 444-4931.

More information about the Valley real estate market is available in the W. P. Carey School’s monthly reports at http://wpcarey.asu.edu/finance/real-estate/market-reports.cfm.