Childress Klein Center for Real Estate 2020-21 Annual Report

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2020–21

ANNUAL REPORT


A Message from the Childress Klein Center for Real Estate Director I am excited to continue the trajectory of the Childress Klein Center for Real Estate that my predecessors, Dr. Richard Buttimer and Dr. Steven Ott, established. Since entering the role in summer 2020, we are developing new strategies to build upon the Center’s success. This includes: ● ● ●

Further development of the undergraduate concentration in real estate; Achieving greater student diversity; Strengthening the Center’s academic research component.

Taking the helm of the Center in the middle of the COVID-19 pandemic presented some big challenges, from figuring out an instructional format to maintaining student engagement, especially in a relationship-based industry like commercial real estate, and raising awareness for our Center’s research. Our faculty were innovative in creating opportunities virtually so our students continued to benefit from networking and mentorship opportunities and to interact with alumni and real estate professionals in the region. We also responded with virtual events, including the State of Housing in Charlotte Summit, which examined the challenges in housing affordability facing our fast-growing region. There is great work being done within the Childress Klein Center for Real Estate that I am honored to share. Thank you for your support of the Center. Sincerely,

Yongqiang Chu Director, Childress Klein Center for Real Estate Childress Klein Distinguished Professor of Real Estate and Urban Economics


About Us The Childress Klein Center for Real Estate at UNC Charlotte was established in 2005 with support from the real estate industry. Their financial contributions, along with the contributions of program alumni, have supported course development, scholarships for incoming graduate students, special events, research and community outreach activities. The Center administers and supports: ● ● ● ●

The Master of Science in Real Estate (MSRE) The MBA Real Estate Concentration The Bachelor of Science in Business Administration (B.S.B.A.) Real Estate Concentration (finance major) The Graduate Certificate in Real Estate Finance and Development

The Center also manages programming and outreach for the Alumni of the Center for Real Estate (ACRE) and the Real Estate Advisory Board.

Mission Our mission is to advance knowledge in real estate, public policy and urban economics through graduate education, applied research, and industry/community collaboration. Primary goals include: ●

Interdisciplinary Graduate Real Estate Education. To recruit and attract top real estate students seeking comprehensive and interdisciplinary graduate education in commercial real estate studies, using faculty and practitioners to combine academic theory with industry best practices. Innovative Research in Real Estate and Urban Economics. To provide academic research and expertise that guide decision-making and offer solutions for urban development, land use, real estate investment, and capital market issues and foster innovative real estate theory, policy, and practice. Strategic Collaborations with Industry. To become a critical link between academics and industry, students and the community, and public and private sectors, including partnering with key trade organizations, an advisory board of real estate professionals, and other affiliated groups to provide community outreach on current real estate issues, to collaborate on applied research, and to enrich professional networks for our students and alumni.

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Leadership Dr. Yongqiang Chu Director, Childress Klein Center for Real Estate, and Childress Klein Distinguished Professor of Real Estate and Urban Economics

Daniel Wright M.S. in Real Estate Program Director, Lecturer

Faculty and Staff Scott Coblentz Part-time Faculty

Meagan Conley Senior Director of Development, University Advancement

Elona Ellis Program Manager

Kiplan Womack Associate Professor of Real Estate

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In Memoriam: Steven Ott (1955-2021) We remember the legacy of Dr. Steven Ott, who founded what would become the Childress Klein Center for Real Estate in 2005. Dr. Ott passed away on Feb. 9, 2021, at age 65. Dr. Ott joined the Belk College faculty in 1999 as the Crosland Distinguished Professor of Real Estate. He served as the sixth dean of the Belk College of Business from 2011-19. His time as dean was a time of growing student enrollment, expansion of academic programs and research, and growing engagement with alumni and corporate partners. Under his leadership, he secured more than $10 million from real estate supporters to fund scholarships, research, and programs for the center. This included the largest single gift in the center’s history, $2.5 million from Childress Klein to name the center in 2015. A native of Wisconsin, Ott received his bachelor’s degree from the University of WisconsinWhitewater, and his master’s and doctoral degrees from the University of Wisconsin-Madison. He is survived by his wife, Connie, and daughters Ella and Ramie.

Remembering Dr. Ott “It is difficult to measure the true breadth of Steve Ott’s impact on UNC Charlotte. In addition to Steve’s visionary contributions to the development of signature University programs that have expanded to become regional and statewide discipline leaders, he leaves a remarkable legacy for the students of Belk College. He will be missed as a leader, colleague and friend.” – Joan F. Lorden UNC Charlotte Provost and Vice Chancellor for Academic Affairs “It was through Steve’s leadership and tireless efforts that a fledgling real estate program was turned into the great success that it is today… Steve’s good work has and will continue to benefit countless students and the real estate industry in our region for years to come.” – Fred Klein, Senior Managing Partner and Founder, Childress Klein “For Steve, it was always about everyone else. He pushed the college forward by serving the college. He was always interested in what was best for others. Steve made difficult decisions carefully and thoughtfully, always trying to do what was best for our students, staff and faculty.” – Jennifer Troyer, Dean, Belk College of Business

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The Power of Giving Below is a reflection of the total generosity to the Childress Klein Center for Real Estate from generous alumni, corporate partners and friends.

* UNC Charlotte’s fiscal year is July 1– June 30

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FY 20, Total Gifts & Pledges, Giving Designation Area Scholarships, 25.93%

Unrestricted Endowment, 55.56% Research, 18.52% Scholarships

Research

Unrestricted Endowment

FY 21, Total Gifts & Pledges, Giving Designation Area

Scholarships, 37.50%

Unrestricted Endowment, 47.50%

Scholarships

Research

Research, 15.00% Unrestricted Endowment

* UNC Charlotte’s fiscal year is July 1– June 30

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Scholarships and Fellowships 2020-21 Leveraging our Future Real Estate Talent • • • • • • • • • • • • • •

Bissell Scholarship Bunker Land Group, LLC Endowed Real Estate Scholarship Charlotte Regional Commercial Board of Realtors (CRCBR) Scholarship in Real Estate Childress Klein Scholarship CoreNet Global Carolinas Chapter Scholarship CREW Charlotte, Inc. Scholarship Crosland Scholarship Institute of Real Estate Management Endowment Fund MSRE Scholarship NC Realtors Education Foundation Endowed Scholarship for Minorities or Women in Commercial Real Estate Real Estate Alumni Association (REAA) Communications Ambassador Scholarship Empire Communities Scholarship Sior Carolinas Chapter and Sior Foundation Scholarship The Faison Scholarship

Student Scholarship Spotlights (2020-21) JAKE ALEXANDER REAL ESTATE ALUMNI ASSOCIATION AMBASSADOR SCHOLARSHIP Jacob “Jake” Alexander started in the real estate industry right out of college as an intern with JLL then was promoted to brokerage assistant shortly thereafter. After three years of working in the Charleston office, Jake was promoted to the JLL Carolinas Capital Markets team in Charlotte. After serving as a project coordinator for over a year, Jake transitioned over to the Carolinas Retail Capital Markets team where he serves as an analyst. Impressed with the opportunities and resources of the Belk College of Business and Childress Klein Center for Real Estate, Jake entered the MSRE program in fall 2019.

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TIFFANY BROWN CREW CHARLOTTE, INC. SCHOLARSHIP A dedicated and self-motivated professional, Tiffany Brown’s background includes more than 12 years of experience in successfully managing the assets of multi-family properties. Her experience in this realm includes managing capital projects, interior redevelopment, strategic planning, and developing high performing teams. This experience fueled a passion for Tiffany to pivot to the development side of real estate. She is thrilled to be a part of the program. MEREDITH COX MSRE SCHOLARSHIP An assistant general manager at JLL, Meredith Cox entered the MSRE program in 2019 after working several years in property management. In addition to her professional and academic work, Meredith served two semesters as part of the CKCRE Student Managed Real Estate Investment Fund. Meredith received her bachelor’s degree in marketing from Clemson University in 2016 where she was active in Zeta Tau Alpha and the Public Relations Student Society of America.

MICAYLAH CUNNINGHAM CHILDRESS KLEIN SCHOLARSHIP Micaylah Cunningham received her bachelor’s in finance degree from UNC Charlotte in 2020. Inspired by a professor and intrigued by the intimate program size, Micaylah decided to pursue her MSRE. She enjoys the inclusivity of the program as well as the many networking opportunities although those have been limited to virtual interactions. In addition to her graduate program work, Micaylah manages the Waxhaw Farmers Market.

STEVEN DEMARAS THE FAISON SCHOLARSHIP Steve Demaras is a 2012 graduate of Clemson University with a Bachelor of Science in Finance. At Clemson, Steve was a member of the football team, an employee of the CU Academic Success Center, and a graduate of the Calhoun Honors College. Steve started his career in accounting and now works at Nuveen Real Estate on the Southeast Retail Acquisitions and Asset Management team, where he manages a portfolio of 20+ assets and sources investment opportunities for clients.

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MATT GAHRMANN CROSLAND SCHOLARSHIP AND MSRE SCHOLARSHIP Matt Gahrmann’s interest in real estate was sparked following an internship with the Target Corp. as a rising junior at High Point University. This interest led to an internship with Winning Link Property Resources (WLPR) in High Point then a full-time position immediately following graduation. After working with WLPR and other organizations in the Triad area, Matt relocated to Charlotte to pursue his MSRE in fall 2020. In February 2021, Matt joined Northwood Office as a Development and Leasing Associate.

DAVID JACOB THE FAISON SCHOLARSHIP David Jacob entered the MSRE program in 2019 after working with several financial institutions as a credit analyst. David received his bachelor’s degree in economics from the University of WisconsinWhitewater. While an undergraduate student, David worked as an intramural sports supervisor along with undergraduate research within the department of economics. DANIEL MAINOUS CHILDRESS KLEIN SCHOLARSHIP Daniel “Dan” Mainous joined BB&T’s Leadership Development Program after graduating from Clemson University, Since moving to Charlotte in 2017, Dan has been a real estate relationship manager and banker for developers, asset managers, and investors in the region. For as long as he can remember, Dan has had a passion for real estate, helping create the places where people sleep, eat, live, and work. He joined the MSRE program in August 2019 to increase his ability to help create the best projects and communities in Charlotte and around the country. During his time in the program, Dan has led the CKCRE Student Managed Real Estate Investment Fund and participated in the ULI Hines Competition.

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CAITLIN McCAIN BISSELL SCHOLARSHIP MSRE SCHOLARSHIP A Childress Klein Center for Real Estate Ambassador, Caitlin McCain’s dream job is “anything related to Commercial Real Estate Appraisal.” After completing her bachelor’s degree in real estate and property management from Virginia Tech, Caitlin worked as an intern with a properties management company in Blacksburg, Virginia, for a year before moving to the Charlotte area where she was a registered appraiser trainee with T.B. Harris Jr. & Associates. In January 2020, Caitlin became a licensed North and South Carolina Certified Real Estate Appraiser participating in all aspects of the appraisal process. Caitlin entered the MSRE program in August 2019 and graduated in summer 2021. BRANDON MIKELL SIOR CAROLINAS CHAPTER AND SIOR FOUNDATION SCHOLARSHIP Brandon Mikell graduated from UNC Charlotte with a bachelor’s degree in finance in 2020. While a student, Brandon worked with CBRE in the company’s Carolinas Multifamily Group. After graduation, he took a position with TD Bank as a commercial real estate analyst. Brandon possesses a true passion for real estate and wishes to become a wellrounded member of the industry. ERICK MILLER CORENET GLOBAL CAROLINAS CHAPTER SCHOLARSHIP AND EMPIRE COMMUNITIES SCHOLARSHIP After earning his bachelor’s degree in finance from University of Florida, Erick Davis embarked on a career in the financial services industry including the implementation of modeling and business strategy projects of real estate companies to create profitable and sustainable business models. Erick joined Red Hill Ventures, a real estate investment and technology firm, in 2019. He started the MSRE program that same year.

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DIANA OMEROVIC CREW CHARLOTTE, INC. SCHOLARSHIP AND MSRE SCHOLARSHIP A recent bachelor of science in finance graduate of UNC Charlotte, Diana Omerovic began pursuing her MSRE in fall 2020. While pursuing her undergraduate degree, Diana worked with Andersen Heating and Cooling and Charlotte Motor Speedway, steadily advancing in responsibilities with each company. She joined NVR Inc. as a Loan Processor in August 2020. Diana has always wanted to be in real estate development but did not know the steps to get there. Thanks to connections she made with a UNC Charlotte professor, real estate program alumni, and CREW members, Diana is now pursuing her dream. JOHN SMITHERMAN BUNKER LAND GROUP, LLC ENDOWED REAL ESTATE SCHOLARSHIP, CHARLOTTE REGIONAL COMMERCIAL BOARD OF REALTORS (CRCBR) SCHOLARSHIP, IN REAL ESTATE INSTITUTE OF REAL ESTATE MANAGEMENT SCHOLARSHIP Possessing a bachelor’s degree in finance from UNC Charlotte and a real estate license from the State of North Carolina, John Smitherman currently works in the real estate department for Extended Stay America. There, he focuses on creating shareholder value through real estate transactions while continuing to grow their brand’s footprint through franchising. His desire to develop his skills and expand experience in real estate development motivated him to enter the MSRE program. MEGAN STENMARK NC REALTORS EDUCATION FOUNDATION ENDOWED SCHOLARSHIP FOR MINORITIES OR WOMEN IN COMMERCIAL REAL ESTATE A 2019 Belk College of Business finance graduate, Megan Stenmark went on to represent Lincoln Harris Property Management at Legacy Union, a 10-acre development site in Charlotte that includes Bank of America Tower, Seven20 Garage, Deloitte Tower, Honeywell Headquarters, and Retain. After this space management experience, Megan decided to enter the MSRE program to transition to real estate asset management.

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Research Center faculty frequently publish their research in leading peer-reviewed journals. Here is a recently sampling: Journal of Finance Review of Financial Studies Journal of Financial and Quantitative Analysis Management Science Journal of Corporate Finance Real Estate Economics Research Topics Risky mortgage lending and the financial crisis Housing in Charlotte Social and environmental impact of banking deregulation Green hedge fund activism

Research Profile The Center is establishing a community environment where public policy, and its impact, can be more fully examined and positive outcomes can be accelerated. Through research and presenting these facts in a community-centric manner, the Center is encouraging and enabling more informed decision making in the marketplace. In particular, Center faculty are exploring the social and environmental impact of the real estate and financial markets. For example, Dr. Chu explores how capital market forces affect mortgage lending discrimination. He finds: ● ● ●

Banks targeted by hedge fund activism reduces lending discrimination against minority borrowers; Banks reduce lending discrimination after going public; Interstate banking deregulation in fact increased lending discrimination.

In another paper, Dr. Chu finds that hedge fund activism reduces toxic chemical releases.

Award-winning Research

Center Director Yongqiang Chu was awarded the Belk College 2021 “Best Paper” award for a paper he co-authored that was published in the Journal of Finance, one of the top three finance journals. In the paper, “The Causal Effect of Limits to Arbitrage on Asset Pricing Anomalies,” Dr. Chu uses Regulation SHO to examine whether limits to arbitrage help explain several well-known asset pricing anomalies. Regulation SHO relaxed the short-sale constraints for a set of pilot stocks. They provide the first causal evidence that many of the asset pricing anomalies can be explained by limits to arbitrage rather than risk. This paper was featured by Yahoo Finance.

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State of Housing in Charlotte Report The Childress Klein Center for Real Estate is analyzing housing trends and helping to identify strengths and challenges affecting the fastgrowing Charlotte housing market through its award-winning State of Housing in Charlotte report. The data-driven analysis of owner-occupied, rental and subsidized housing in Charlotte’s eight-county region is informing government leaders, policymakers, the development sector and the general public. The report, released in October 2020, was shared at CKCRE’s virtual State of Charlotte Housing Summit, which included a presentation by CKCRE’s Director Yongqiang Chu and is discussed in the following section. In just its second year, the report, supported by industry partners, has quickly become the “go-to source” for local journalists and others who report on growth as they seek reliable data about all sectors of Charlotte’s housing market. Since the first report in 2019, which was featured in a news segment that aired on more than 50 NBC stations, the Center has facilitated a dozen or so community presentations throughout the Southeast. As cities nationwide watch closely the ways Charlotte manages its growth, UNC Charlotte is providing a foundation for smart development. The report was recognized in 2019 by the Association to Advance Collegiate Schools of Business (AACSB), the world’s largest business education alliance, to recognize the Belk College of Business as one of only 25 business schools worldwide for innovative collaboration. CKCRE’s State of Housing in Charlotte is supported by these industry partners: ● ● ● ● ● ●

Canopy Realtor® Association Crosland Southeast Evergreen Strategies INLIVIAN Piedmont Public Policy Institute True Homes Inc.

“2020 State of Housing in Charlotte”: Highlights ● ●

Land prices are rising rapidly, especially in Mecklenburg County. Both the median and average home prices in the Charlotte market are higher than they were at the height of the housing boom. The growth in house prices has been accelerating in recent years and even during the COVID-19 pandemic. The lowest-priced segment of the owner-occupied market has seen the sharpest price increases. Childress Klein Center for Real Estate Annual Report (Fall 2020-Spring 2021)

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● ● ●

● ●

Population growth in the region is outpacing housing growth. From 2010 to 2019, the population grew by 1.9%, but housing units grew by only 1.6%. Land prices are rising rapidly across the region, which is driving up the price of housing and also pushing more people toward the suburban fringe. The lowest-priced segment of the owner-occupied market has seen the sharpest price increase, impacting low-income and middle-income affordability. Between 2010 and 2019, home prices in this segment have risen 195%, from $48,990 to $145,000. That’s an annual increase of 14.5%. Middle-income housing affordability is becoming a significant challenge for the region. A household earning $65,000 a year can only comfortably afford about 36% of the homes available for sale. As rates increase for all types of rental housing, the percentage of cost-burdened renters is high; and there is an ongoing need for additional low-income housing. In the region, 45% of all renters meet the definition of being cost-burdened, spending more than 30% of their gross incomes on housing costs. Between 2018 and 2019, Charlotte’s population growth was the second highest among 11 national competitor cities and was the highest among eight regional competitor cities. Home prices in Charlotte are moderate compared to regional and national competitors. However, the growth rate is among the highest. Between 2018 and 2019, the median housing price in the Charlotte region increased by 8.5% to $266,000. Among regional competitor cities, Charlotte renters pay among the highest rates. However, the region is roughly average among national competitors.

State of Housing in Charlotte Summit The second annual State of Charlotte Housing Summit occurred on October 29, 2020, directly following the release of the State of Housing in Charlotte Report. This virtual event opened with the release of the "2020 State of Housing in Charlotte" research report and a presentation by Center Director Yongqiang Chu. The summit also included two industry panel discussions featuring local industry experts and moderated by Center faculty. Owner-occupied housing panel: ● ● ●

Laura Belcher, President and CEO of Habitat for Humanity Charlotte Mark Boyce, Founding Partner, True Homes John Kindbom, President, Canopy Realtors

Moderator: Daniel Wright, Program Director, M.S. in Real Estate Rental housing panel: ● ● ●

David Kennedy, Property Manager, TR Lawing Shaun McCutcheon, Vice President, Meyers Research Liz Ward, Founder, Give Impact

Moderator: Kiplan Womack, Associate Professor, Belk College of Business

More than 200 real estate professionals, governmental leaders and media attended the summit. Childress Klein Center for Real Estate Annual Report (Fall 2020-Spring 2021)

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Academics Leading School for Real Estate The Belk College of Business was ranked as one of the “Leading Schools for Real Estate” by Commercial Property Executive in 2020. The Belk College was the only college in the Carolinas to make Commercial Property Executive’s list, which features institutions that demonstrate a commitment to developing tomorrow’s

leaders in the real estate industry.

Master of Science in Real Estate - By the Numbers (2020-21) Fall 2020 Enrollment

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Undergraduate Real Estate Concentration – By the Numbers (2020-21) Fall 2020 Enrollment

BACHELOR’S DEGREE REAL ESTATE CONCENTRATION (B.S.B.A. FINANCE) FALL 2020 ENROLLMENT:

54

2020-21 DEGREES AWARDED:

AVERAGE GPA:

3.2

23

COURSES OFFERED:

3

MASTER OF SCIENCE IN REAL ESTATE FALL 2020 ENROLLMENT:

33

AVERAGE GPA:

3.7

NUMBER OF GRADUATES:

5

PERCENT OF GRADUATES EMPLOYED:

100%

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COURSES OFFERED:

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Engagement Student Managed Real Estate Investment Fund Thanks to a generous donation by Peter Fioretti, an investment fund was established in 2016 to provide students with real-world experience in the analysis, investment and management of private and public real estate securities. The fund, one of only a few in the country, provides students the opportunity to gain hands-on experience by actively participating in private real estate deals. Working closely with real estate faculty, students identify and evaluate real estate investment opportunities. The students then present to an investment committee composed of faculty and real estate investment professionals.

MSRE Seminar Series To further the mission of using industry and community collaboration to educate and develop real estate professionals, the center sponsors the MSRE Seminar Series to facilitate monthly discussions on relevant topics. These monthly seminars, open to current MSRE students, alumni and special guests of the Center, include time for commercial real estate networking, Q&A and lunch in addition to a robust discussion on the featured topic. Due to the ongoing pandemic, sessions during 2020-21 were held virtually. September 2020 Seminar: “Career Conversations” Featuring: Dr. Debbie Phillips, President of The Quadrillion October 2020 Seminar: “Retail Real Estate in the Time of COVID… Is there a Silver Lining?” Featuring: ● Darrell Palasciano, Senior Vice President, TSCG; ICSC State Chairman (NC/SC) ● Lauren Ball, Vice President of Leasing, SITE Centers ● George Dewey, President and CEO, Aston Properties ● Melissa McDonald, Principal, The Providence Group of the Carolinas November 2020 Seminar: Development of Noble Smoke Featuring: Matt Broder, Founder/Owner of Browder Group Real Estate, LLC February 2021 Seminar: “Vantage South End: The Ecosystem of the Future of Office Space Offerings” Featuring: Virginia Luther ’18 MSRE, Managing Director, Charlotte Commercial/The Spectrum Companies April 2021 Seminar: “OZworks group discussing Opportunity Zones” Featuring: Chris Cooley and Ashley Tison, OZworks

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#CREfuture #CREfuture is a panel discussion on forward-thinking topics in commercial real estate for current and future real estate leaders. Professionals in commercial real estate provide an insider perspective on their career paths, current projects making waves in the market and their experiences as young leaders in commercial real estate. This event brings current students, young alumni and friends of the Center together to network and connect over engaging topics impacting tomorrow's real estate market. Due to the ongoing pandemic, #CREfuture was held virtually on March 19, 2021. Topic: Diversity & Inclusion in Commercial Real Estate Featuring: Kimarie Ankenbrand, Managing Director & Broker Lead, JLL) LaToya Faustin, Executive Director, She Built This City Montell Watson, Director of Movement Direct and Minority Initiatives, Movement Mortgage Moderator: Renee Hill, MSRE Instructor, Belk College of Business

Dean’s Leadership Series The Center partnered with the Belk College on a virtual program to highlight the challenges facing commercial real estate during the global COVID-19 pandemic. “Implications of COVID-19 for Commercial Real Estate,” part of the Dean’s Leadership Series, featured three CRE leaders. The session, presented via Zoom, focused on the impact of the shift toward remote work, uncertainty around retail, and how the pandemic is affecting the travel and leisure sector. The session was presented on Oct. 15, 2020. Panelists: Peter Fioretti, Founder and CEO, Mountain Funding Jane Wu '07 MAFI, President, Panorama Holdings, LLC Landon Wyatt, Partner, Childress Klein Moderator: Yongqiang Chu, Director of the Childress Klein Center for Real Estate

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Media Outreach Research and expertise from the Center is helping governmental influencers as well as the general public better understand issues regarding housing and commercial real estate. Here is a sampling of interviews and coverage for the Center during 2020-21: ● ● ● ● ● ●

The Charlotte Business Journal WSOC-TV (Charlotte) WCNC-TV (Charlotte) WNCN-TV (Raleigh) The Charlotte Observer Spectrum News

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Childress Klein Center for Real Estate Board of Advisors* *As of March 3, 2022

Composed of more than 50 real estate leaders, the Board of Advisors is a core support group for the Childress Klein Center for Real Estate, advising the Center, participating, and contributing as guest lecturers and mentors. Representing senior executives in the real estate industry and policy makers, the board draws from the array of functional areas related to real estate and urban development. Landon Wyatt, Chair Childress Klein Properties H.C. Bissell, The Bissell Companies, Inc. Robert Brinkley, Womble Carlyle Sandridge & Rice, LLP Bryan Brooks, Medalist Capital, Inc. Jefferson Brown, Moore & Van Allen Shippen Browne, Bellwether John Caruso, Nuveen Real Estate Yongqiang Chu, Childress Klein Center for Real Estate Walker Collier, Trinity Capital Advisors Alyson Craig, City of Charlotte John Culbertson, Cardinal Real Estate Partners, LLC Geoffrey Curme, Mt. Vernon Asset Management, LLC Anne Marie DeCatsye, Charlotte Regional Realtor® Association Darryl Dewberry, The Spectrum Companies Fred Dodson, Dreamkey Partners Tracy Dodson, City of Charlotte Jubal A. Early, Lincoln Harris Peter Fioretti, MREC Walter D. Fisher, Jr., Troutman Sanders LLP, Charlotte Office Paisley Gordon, Allen Tate Companies Doug Irmscher, Beacon Partners Leslie Johnson, Mecklenburg County Government

Kris Fetter, Vice Chair Faison Properties Fred W. Klein, Childress Klein Properties Kevin Lambert, Crescent Communities Daniel Levine, Levine Properties Ken Loeber, Foundry Commercial George Maloomian, Cambridge Properties, Inc. Charles Lindsey McAlpine, CitiSculpt Fulton Meachem Jr., INLIVIAN Brent Milgrom, Jr., Parker Poe Adams & Bernstein LLP Chase Monroe, Jones Lang LaSalle Rob Nanfelt, REBIC Dionne Nelson, Laurel Street Compie Newman, CBRE John Ockerbloom, Barings Keith Poettker, Poettker Construction Curt Rigney, Batson-Cook Company Pat Rodgers, Rodgers Builders Inc. Ellen Rogers, Bank of America Merrill Lynch Ed Rose, Shelco, Inc. Arthur Samet, Samet Corporation Tim Sittema, Crosland Southeast Brad Smith, Bank of America Shannon Smith, Abundant Power Jennifer Troyer, Belk College of Business Todd Williams, Grubb Properties Jane Wu, Panorama Holdings

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