CSUF Center for Real Estate Summer Newsletter

CENTER FOR REAL ESTATE

OC'S BEST INTERNS & GRADS

CSUF's unique real estate program p. 11

SUMMER 2020

JOE DECARLO

virus effects on apartments and real estate p. 6

FOUNDING MEMBERSHIPS

reinventing real estate education for the next generation p. 20

CENTER FOR REAL ESTATE

Presents the

11 th Annual

C O M M E R C IA L R EAL ESTAT E F OR UM

SAVE THE DATE JANUARY 2021

The CSUF Center for Real Estate presents its annual program and panel discussion. We look forward to presenting our 2021 panel of top real estate and industry leaders who will highlight trends and issues in the commercial real estate market.

FOR MORE INFORMATION:

Linsey Carbone | 657-278-4125 | CRE@fullerton.edu

www.business.fullerton.edu/CRE Sponsorship funds support student scholarships and research programs. Sponsorships are payable to Cal State Fullerton Philanthropic Foundation, a 501 (c) (3).

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| CRE@fullerton.edu

Table of Contents Message & Mission.......................................................................................................................................................................................2 Of Note: Virus Effects on Apartments and Real Estate........................................................................................................... 6 Around Campus.............................................................................................................................................................................................. 9 Student Intern Program............................................................................................................................................................................11 Students Seeking Full-Time Careers................................................................................................................................................ 12 Students Seeking Full-Time Internships......................................................................................................................................... 13 Students Seeking Part-Time Internships.......................................................................................................................................14 Leadership & Partners.............................................................................................................................................................................18 Join Us........................................................................................................................................................................................................ 20-21 Information regarding advertising or becoming a partner with Center for Real Estate please contact Linsey Carbone, Assistant Director, licarbone@fullerton.edu or (949) 293-1245. www.business.fullerton.edu/CRE | CRE@fullerton.edu 1

MESSAGE & MISSION From the Director of the Center of Real Estate About the Center for Real Estate Dear Partner, In this unprecedented time in our history we at the California State University Fullerton’s Center for Real Estate stand committed to supporting our students in their preparation for a career in real estate. Our outreach has been inclusive of many of the organizations that are part of the foundation of our industry.

We continue our building of an intern program which assists students to find their beginning roles in entry positions throughout the industry. With a list of 7,000 firms and a broad reach into opportunities we have now placed several students into positions and have over 40 in our interview process.

The Center works closely with the REA (Real Estate Association) a club that has grown its membership from 12 to 60 members. This cornerstone program moves our goal of assisting students along at an amazing pace.

Industry groups such as CCIM, IREM, BOMA, ICSC, PWR, NAIOP have joined with us with advice and support of our initiatives.

We are proud to include many successful leaders in our industry on our Board of Advisors. Industry groups such as CCIM, IREM, BOMA, ICSC, PWR and NAIOP have joined us with advice and support of our initiatives. The curriculum at CSUF is being expanded with a goal of creating a minor in Real Estate under a finance major. This approach is being recognized by the California DRE and will allow students to sit for a brokers license and possibly bypass the two year experience hurdle.

Programs like Argus training, attendance at special events such as ICSC RECON in Las Vegas (on hold currently), the annual Real Estate Forum, and events held by the above industry organizations will give students a unique “hands-on” view of the industry.

This momentum is still moving forward with a strong belief in our industry, our University, and our students.

Sincerely,

Bob Osbrink Director, Center for Real Estate Cal State University, Fullerton www.business.fullerton.edu/CRE | CRE@fullerton.edu 2

MESSAGE & MISSION The Mihaylo College of Business and Economics

The Center for Real Estate The purpose of the Center for Real Estate is to prepare students to enter careers in real estate. It provides the student with both general and specialized real estate knowledge that is applicable to professional areas such as real estate finance, brokerage, development, management, acquisition and disposition of real property. The program provides the analytical, communication and interpersonal skills to make decisions about real estate assets under conditions of risk and uncertainty. The student will be better able to apply the acquired knowledge to specific real estate issues in a wide variety of corporate, entrepreneurial, and personal situations.

As the largest accredited business school on the West Coast, the quality of a Mihaylo College of Business and Economics education is reflected in its network of nearly 60,000 alumni and business partners who are a driving force of Southern California business. Mihaylo students experience a full range of business courses and programs led by faculty purposely integrating innovative classroom education with best business practices, technology, award-winning research, functional applications and real-world experience.

Located in one of the most vibrant business communities in the United States, Mihaylo College creates networking and internship opportunities for students, as well as partnerships that strengthen and enrich the educational experience and program. Its graduates are ready to meet the business challenges of today and the future.

Academic Courses: Bachelor of Arts (BA) and Master of Business Administration (MBA) v Finance 351 Introduction to Real Estate

[Principles] (3 units)

v Finance 352 Real Estate Finance (3) v Finance 353 Real Estate Valuation (3) v Finance 355 Real Estate Investment

Analysis (3)

v Finance 400 Property Management (3) v Finance 451 Real Estate Practice (3) v Finance 452 Real Estate Law (3) v Finance 454 Real Estate Market Analysis

[Economics] (3)

v Finance 495 Internship (3) ***Our MBA Program is affiliated with the CCIM Program

Photo courtesy of Marc Weisberg, luxuryrealestateimages.com

www.business.fullerton.edu/CRE | CRE@fullerton.edu 3

MESSAGE & MISSION The Center for Real Estate is part of the 23-campus California State University system’s applied research and professional center for real estate and urban land use.

3 Assists in the development, coordination, and administration of countrywide continuing education programs related to real estate;

California State University, Fullerton’s branch of the institute, now called the Center for Real Estate, was established in 1996 to promote and advance real estate education, including curriculum, program reputation, student placement, and outreach to the local business community.

The Center:

3 Maintains liaisons with the government agencies, private industry, and associated organizations with interest in public policy affecting real estate and land use; 3 Provides a neutral forum where professionals in the field address key real estate issues.

3 Promotes the general well-being of undergraduate and graduate real estate education and CSUF;

www.business.fullerton.edu/CRE | CRE@fullerton.edu 4

REAL ESTATE INVESTMENTS BUILD WEALTH 50 Years of Real Estate Investing for Wealth Creation and Asset Preservation

A Proud Supporter of The Center For Real Estate at CSUF

1200 Newport Center Drive, Suite 260, Newport Beach, CA 92660 W SchroederlnvestmentPartners.com T 949.675.4900 www.business.fullerton.edu/CRE | CRE@fullerton.edu 5

Virus Effects on Apartments and Real Estate

by Joseph W. DeCarlo, MBA, CPM, CCIM, CRE have moved back with their parents during this lockdown period.

Will they now want to move into their own apartment again? Will they want roommates? Will they want a smaller less expensive unit? Since many employees have worked remotely from their homes during this lockdown, will they want to continue to do so and not have a daily commute to work? Maybe they will go in one day a week. Having good Wi-Fi is a necessity for apartments in the future.

We are now in unchartered and difficult waters with the COVID-19 virus epidemic.

The rules, customs and ways of doing business are changing and still unknown.

Social Distancing will alter how people buy, sell and lease apartments after the COVID-19 crisis has ended. We must be flexible, adaptable and changeable in the future.

DEMOGRAPHICS The buzz word of liberals in California and other states, prior to COVID-19, was “higher density”. Build more high-rise apartments in urban centers (cities) and near rapid transit lines. The highest death rates and infections have come from New York City and other highdensity areas. In the future, will apartment tenants, condo owners, choose to live in closely packed urban areas 24-7 with crowded buses and subways?

Suburban areas have fared better as well as semi-rural areas just outside the suburbs with more room to spread out and observe the safe distancing (6 feet). Even when they find a cure for COVID-19, viruses will reoccur in the future and the fear will linger and people may not want to live in cities.

The real demand is for the homeless and people who cannot afford to pay market rent. Our Governor never mentions the State providing rent subsidies, like HUD Section 8, to the potential tenants who cannot afford rent. Rent control caps what landlords can charge, thereby effectively reducing the dollar amount State and Local housing programs pay in affordable housing subsidies.

The demand for apartments in Southern California will continue to grow.

SUPPLY OF APARTMENTS The development pipeline has lots of new apartment projects, however most of these are Class A, high end and high rent apartments. Due to high land costs and using union labor, it is not feasible to build working class “C” apartments in Orange County and Los Angeles. The potential of even more stringent rent control measures on the November ballot is also a deterrent to construction of new apartment buildings which are only exempt for 15 years.

DEMAND FOR APARTMENTS The demand for apartments in Southern California will continue to grow. The jobless rate has soared and those that remain employed fear losing their jobs or having their job eliminated. The single-family housing market will decline in price as employment will determine qualifying for a mortgage loan. Many younger people

I see additional housing supply coming from

www.business.fullerton.edu/CRE | CRE@fullerton.edu 6

underutilized hotels and office buildings in the future. Due to the fear that COVID-19 carries, fewer people will travel and or want to commute to work in a large office building. The value of these properties will drop with an adaptive reuse that would be to retrofit them into lower rent apartments in the future. If this happens, supply will exceed demand and the rent and price (cap rates) for existing apartments will decrease.

and maintenance expenses. Operating expenses come to 61.9% + NOI of $162,864.

The new owner still must pay a mortgage payment before any cash flow. As shown in the graph below, the real cap rate on such a project is only 2.7% for a 20 unit apartment building sold at $6,000,000.00 (expenses rounded off).

GOVERNEMENT CONTROLS FOR APARTMENTS The State and Local governments are increasingly putting more restrictions and rules on landlords. Evictions are more difficult and the time for landlords to regain possession has been lengthened. There are curbs and caps on rental increases and landlords still must provide the same habitability on aging apartment buildings. Where will landlords get the funds to make the improvements for new electrical and plumbing on these 50-year-old apartment buildings with strict rent control?

US ECONOMY We are likely to have a severe recession when the Federal government subsidies are stopped. The current unemployment benefits of $400.00 per week from the State and $600.00 from Federal, which adds up to $4,300 per month. Most residents can pay rent but what does the future hold for them if they work in hotels, restaurants or the travel industry? State taxes and fees will increase as California cannot print money like the Feds. As a real estate investment, apartments will fare better than retail or office buildings. However, prices and rents will drop to a realistic level after COVID-19, placing us in a new - and different - normal.

The purchase cost of existing apartments at todays high prices do not pencil out.

Let us take property taxes for instance.

Even under Prop 13, most cities have added water, sewer, school, utility bonds to property taxes. Some cities have even added paramedic services to tax bills. For example, an existing 20-unit apartment building sold for $6 million and the tax rate is approximately 1.4% and not 1% which is the basic tax levy. The tax bill is $84,000 per year or $7,000 per month or $350.00 per month/per unit. If the rent is $1,600 per month, that equates to 21.9% of the rent goes towards property taxes. You also must figure 5% for vacancy and eviction along with a manager’s salary, water, utilities, trash

Joe is President of JD Property Management, Inc. located in Costa Mesa, which manages both Apartments and Commercial properties. joe@jdproperty.com

www.business.fullerton.edu/CRE | CRE@fullerton.edu 7

FROM SAN DIEGO TO SEATTLE BEST-IN-CLASS RETAIL PORTFOLIO $3.5 BILLION STRONG...AND GROWING NOW LEASING OVER 60 OF THE FINEST CENTERS ON THE WEST COAST

www.business.fullerton.edu/CRE | CRE@fullerton.edu 8

AROUND CAMPUS

Commercial Real Estate Forum panel discussion on emerging commercial real estate topics. Held annually since 2009.

CSUF Real Estate Association - student organization promoting real estate education and community involvement. Membership has doubled annually since 2018.

ICSC RECon Conference student delegations explore ICSC’s RECon and gain exposure to the commercial real estate world.

ICSC RECon: CSUF forms second-largest student delegation.

Argus Financial Certification; Commercial real estate valuation software training. Held annually since 2009; Going digital in 2020.

www.business.fullerton.edu/CRE | CRE@fullerton.edu 9

Engagement Opportunities Student Engagement The Center for Real Estate welcomes guest speakers who bring real-world experiences to the classroom. Our guest speaker program and Professor for a Day event have been enthusiastically received by both companies and students alike.

Advisory Boards The Center for Real Estate’s advisory board welcomes real estate luminaries and philanthropists from all aspects of the industry. Advisory Board members provide a foundation of financial support to the Center, growing and sustaining its educational and outreach activities. Board members are invited to participate in many of the Center’s activities including classroom lectures and student career advancement, public conference speaking engagements, and research initiatives.

Partner With Us Join us as we continue Orange County’s tradition as a real estate powerhouse, creating synergies between academic study and pragmatic understanding. Donations can be earmarked either to underwrite the Center for Real Estate or designated to assist student scholarship within the field of real estate.

For more information email: cre@fullerton.edu

Photo courtesy of Marc Weisberg, luxuryrealestateimages.com

www.business.fullerton.edu/CRE | CRE@fullerton.edu 10

STUDENT INTERN PROGRAM

A Titan education is defined by experiential learning amid a rich diversity of perspectives and backgrounds. Internships, collaborative research, study away, service in the community, and a vibrant co-curricular life keep students engaged and empowered on their way to a degree. These high-impact experiences yield high-impact people.

Paid or Unpaid Internships?

Whether the internship is paid or unpaid, students may earn course credit as long as the internship meets requirements and is approved in advance for academic credit. Host organizations are encouraged to consider offering fuel reimbursements or a stipend to offset the costs students incur for traveling to work sites and enrolling in the internship course.

Graduating Students Today’s real estate students recognize the importance of real world experience.

The CRE Student Intern Program provides students with meaningful opportunities to engage in all aspects of the industry. Participating businesses gain an essential pipeline to fill entry-level positions with some of the nation’s best prepared graduates.

For more information email: cre@fullerton.edu.

www.business.fullerton.edu/CRE | CRE@fullerton.edu 11

STUDENT INTERN PROGRAM REAL ESTATE STUDENTS SEEKING FULL-TIME CAREERS Christopher Betts (Graduating Spring 2020) A business major with a concentration in finance, real estate track, Christopher participates in both CSUF’s Finance Society and the Real Estate Association. For the last 7 years, Christopher has been working at Albertsons. He enjoys working with people and making customers leave with a smile.

He hopes to enter real estate after graduation. A dedicated student, worker, and friend Christopher is determined to always complete a task. View Christopher’s LinkedIn profile https://www.linkedin. com/in/christopher-betts-a278a9184/ .

Matthew Hill (Graduating Spring 2020) A business major with a concentration in entrepreneurship, Matthew is a member of CSUF’s Real Estate Association. For the past five years he has been working as a home inspector and hopes to grow his career into property management and development after graduation. View Matthew’s LinkedIn profile https://www.linkedin.com/in/ matthew-hill-0b1863b3/ .

Honey Jain (Graduating Spring 2020) An entertainment and hospitality management major, Honey is involved with CSUF’s Sales Leadership Center, the Real Estate Associates and the Center for Leadership. After graduation, Honey hopes to launch a career in commercial brokerage and development. View Honey’s LinkedIn profile https://www.linkedin.com/in/honey-jain0a2987117/.

Nick Belida (Graduating Spring 2020) A finance major, Nick sits for the real estate agent exam this month. His strong interest in asset management and commercial real estate was enhanced by his training as a loan officer at Fidelity Bancorp Funding. Nick is active in CSUF’s Real Estate Association. He looks forward to launching a career in commercial brokerage and management.

View Nick’s LinkedIn profile https://www.linkedin. com/in/nicholas-belida-abb885128/.

Fang Li (Graduating Spring 2020) A business major with a finance concentration, Fang hopes to enter the real estate industry either in accounting or asset management and would be willing to start either in an internship or with entrylevel work.

Andrea Berumen (Sophomore) A licensed real estate agent studying business with a concentration in finance at CSUF, Andrea has been working her way through school as a delivery operations advisor at Tesla Motors for the past four years. She is certified in SketchUp 3D Pro for rendering and remodels and looking to move her career into multidisciplinary real estate. View Andrea’s LinkedIn profile https://www.linkedin.com/ in/andrea-berumen-4a1570121/ .

Quang Ly (Graduating Spring 2020) A business major with a finance concentration, Quang hopes to enter the real estate industry either in accounting or asset management.

To set up an interview, contact the Center for Real Estate’s Program Director at licarbone@fullerton.edu www.business.fullerton.edu/CRE | CRE@fullerton.edu 12

STUDENT INTERN PROGRAM REAL ESTATE STUDENTS SEEKING PART-TIME INTERNSHIPS

Michael Herrera (Graduating Spring 2020) A business major with a concentration in finance who has been working in guest relations at Disney since 2017, Michael has been active with CSUF’s Real Estate Association and a plethora of volunteer activities. In 2019 he interned as a financial analyst at Nationwide Financial. Michael is looking to start a career in commercial brokerage and appraisal upon graduation. View Michael’s LinkedIn profile https:// www.linkedin.com/in/michael-herrera-05423213b/ .

Humberto Osuna Acosta (Junior) A business major with a concentration in finance and emphasis in real estate, Humberto is extremely eager to get started in real estate industry. A member of the CSUF Real Estate Association, Humberto is a highly motivated, goal-oriented student.

Johnny To (Graduating Spring 2020) A business major with a concentration in Finance, Johnny is involved in both CSUF’s Real Estate and Finance Associations and has served as an investment analyst for Titan Capital Management.

In preparation for entering real estate management, development, or appraisal fields upon graduation, Johnny has completed a private equity internship at the Cebron Group in Irvine and currently works as an accounting clerk at RAJ capital management.

View Johnny’s LinkedIn profile https://www.linkedin. com/in/johnnybato/.

Evelyn Aguirre (Graduating Winter 2020) A licensed real estate agent, majoring in business with a finance concentration (real estate and marketing tracks), Evelyn is completing her internship at the CSUF Center for Real Estate and will be serving as the first female president of CSUF’s Real Estate Association this fall. She is looking for hands-on experience in property management. View Evelyn’s Linkedin profile https:// www.linkedin.com/in/evelyn-aguirre-000/.

George Bahbah (Senior) A business administration major concentrating in finance, George will start his term as CSUF’s Real Estate Association (REA) president in Spring 2021. Currently, he serves as REA Events Director and is Student Ambassador to Orange County’s CCIM chapter. George volunteers with the Special Olympics. He will bring significant sales experience to his desired internship in commercial real estate brokerage, having served in sales roles for the Los Angeles Chargers, and in marketing for Fantasia Distribution in Anaheim. View George’s LinkedIn profile https://www.linkedin.com/in/georgebahbah-a43246159/ .

SEEKING A FULL-TIME INTERNSHIP Juan Villegas (Graduating Spring 2020) A business major with a concentration in information systems, Juan is a member of CSUF’s Real Estate Association, as well as the Business Data & Analytics Club. He enjoys programming, data analysis, and network administration.

Additionally, Juan enjoys working with groups and helping businesses develop technical fluency.

Upon graduation, Juan hopes to explore real estate through a systems analyst, data analyst or asset management internship. View Juan’s LinkedIn profile https://www.linkedin.com/in/jmvillegasjr/.

To set up an interview, contact the Center for Real Estate’s Program Director at licarbone@fullerton.edu www.business.fullerton.edu/CRE | CRE@fullerton.edu 13

STUDENT INTERN PROGRAM REAL ESTATE STUDENTS SEEKING PART-TIME INTERNSHIPS

Selene Hanna (Junior) A business major concentrating in finance and entrepreneurship, Selene became a licensed realtor at 18 years old and has had a passion for the industry ever since. She serves as CSUF Associated Students’ Board of Director Finance Committee Member, is active in the Real Estate Association, and volunteers with THINKTogether, a local non-profit. Selene is looking for an internship in real estate development and commercial brokerage. View Selene’s LinkedIn profile https://www.linkedin.com/in/selenehanna-327312159/.

Sterling Brown (Junior) A business major with an emphasis in marketing, Sterling is active with CSUF’s Real Estate Association and Club Soccer and is currently completing a marketing internship at Ware Malcomb. After graduation, Sterling hopes to launch a career in real estate sales and brokerage and is open to all internship opportunities in that area. View Sterling’s LinkedIn profile https:// www.linkedin.com/mynetwork/invite-sent/sterlingbrown/?isSendInvite=true.

Dario Hernandez (Junior) A business major with a finance concentration (real estate track), Dario has experience in materials management with Kaiser Permanente. He hopes to start a real estate career after graduation and is looking for an internship that will let him explore the various facets of the industry.

Daniel Canizales (Senior) A business administration major concentrating on operations and supply chain management, Daniel is looking for an internship in property management. View Daniel’s LinkedIn profile https://www.linkedin.com/in/ daniel-canizales-3545b898/.

Joseph Herrera (Graduating Winter 2021) A business major concentrating in marketing, Joseph has served CSUF as a Resident Advisor, (overseeing 54 freshmen), the Vice President of Phi Sigma Kappa Fraternity, and looks forward to serving on CSUF’s Associated Student Board of Trustees for the coming year. Joseph seeks an internship in commercial brokerage and sales. View Joseph’s LinkedIn profile https://www.linkedin.com/in/josephherrera-32b1a0174/.

Roberto Castro (Graduating Winter 2020) A business major with an emphasis in Information Systems, Roberto has a strong drive to enter the field of real estate. With experience as a sales and marketing team lead at Bear Holdings, his current interests lie between property management and accounting. Roberto is open to all internship opportunities. View Roberto’s LinkedIn profile https://www.linkedin.com/in/robcvstro/.

Daisy Estrada (Graduating Winter 2020) A business major with a finance concentration (real estate track), Daisy seeks an internship in commercial real estate.

Dominic Huynh (Sophomore) A second-year business major with aspirations to learn about the various business industries of the world with a goal of pursuing a real estate career in the future. Dominic believes letting his results speak for his value, is willing to learn, and open to all opportunities - specifically in the area of brokerage and sales.

Lauren Guillen (Graduating Winter 2020) Lauren is working toward an associate’s degree in real estate in parallel to her studies for a Bachelor’s degree in English. She is active in the Real Estate Association and looking for an internship in property management.

To set up an interview, contact the Center for Real Estate’s Program Director at licarbone@fullerton.edu www.business.fullerton.edu/CRE | CRE@fullerton.edu 14

STUDENT INTERN PROGRAM REAL ESTATE STUDENTS SEEKING PART-TIME INTERNSHIPS Diana Mendoza (Graduating Spring 2020) Diana is a first-generation college student graduating with a Bachelor’s in Finance and magna cum laude.

She has been active with CSUF’s Real Estate Association and a plethora of other roles activities including serving as an equity lead in the Student Management Investment Fund and board member in the Leadership Scholars Program. Diana is currently expanding her customer service and negotiation skills by helping out in her friend’s startup Think66.

She is known for her humility, strong work ethic, and willingness to learn. She is open to all opportunities, including property management and residential sales.

View Diana’s LinkedIn profile https://www.linkedin. com/in/diana-mendoza-8aa79218a/.

Ryan James (Graduating Winter 2020) A business major with a concentration in Finance (real estate track), Ryan is a member of CSUF Real Estate Association and volunteer with Habitat for Humanity. He has worked as the head coach for Fullerton High School Baseball and held a number of server roles at well-known area eateries. He seeks internship experience in real estate development and commercial brokerage.

Duy Le (Graduating Spring 2020) A business major concentrating in finance who plans to sit for the Broker’s Exam upon graduation, Duy is also completing his Certified Financial Planning licensure. He seeks internship experience in commercial real estate sales.

Yuliana Morales (Senior) A sociology major with a passion for real estate, Yuliana is looking for an internship in property management.

Ramon Lopez (Sophomore) A business major active in the Real Estate Association, Ramon is looking for a part-time internship in property management or real estate accounting.

Jesse Nunez (Sophomore) A business major concentrating in finance (real estate track) who is active in both CSUF’s Latino Business Student and Real Estate Associations, Jesse is seeking internship experience in property management and development.

Joceline Marroquin (Graduating Spring 2020) Motivated finance student seeking an opportunity in commercial real estate. Joceline has been a part of CSUF’s Real Estate Association since February 2019. In her prior roles, she developed customer service, sales, and administrative skills that she seeks to transfer to either an internship or entrylevel position in property management. View Joceline’s LinkedIn profile https://www.linkedin. com/in/joceline-marroquin-1a9470156/.

Stephanie Ordaz (Junior) A business administration major with a concentration in finance, Stephanie has been a valuable part of CSUF’s Titanthon (an affiliated nonprofit organization), Camp Titan (a camp for underprivileged children), a sales intern at Telecom Communications out of Oxnard, and a leader of Zeta Tau Alpha. Stephanie is looking for an internship in asset management or real estate accounting. View Stephanie’s LinkedIn profile https://www.linkedin. com/in/stephanieordaz24/.

To set up an interview, contact the Center for Real Estate’s Program Director at licarbone@fullerton.edu www.business.fullerton.edu/CRE | CRE@fullerton.edu 15

STUDENT INTERN PROGRAM REAL ESTATE STUDENTS SEEKING PART-TIME INTERNSHIPS Ivan Prochko (Junior) An experienced agent always looking to learn more about the industry, Ivan is currently completing a bachelor’s in business with a concentration in finance (real estate track) as well as the CFA financial analyst program. He is looking for an internship in commercial brokerage and development. View Ivan’s LinkedIn profile https://www.linkedin.com/in/ivanprochko/.

Jayson Tang (Sophomore) A business administration major concentrating on operations and supply chain management, Jayson has a strong interest in the real estate field -specifically land development, appraisal, brokerage, and capital improvements. He is seeking a part-time internship in a related field. View Jayson’s LinkedIn profile https://www.linkedin.com/in/jayson-tanga7925115b/.

Efrain Ramirez (Graduating Winter 2020) A business administration major with a concentration in finance, Efrain is active in CSUF’s Real Estate Association, where he serves as the director of fundraising. He is interested in pursuing an internship internship in financial analysis or commercial real estate investing positions. View Efrain’s LinkedIn profile https://www.linkedin.com/in/efrain-ramirez5b3306180/.

Paul Torres (Graduating Winter 2020) A marketing major, Paul - who is Spanish/English bilingual - is a Mater Dei alumnus currently working as an assistant in the pre-owned department at Crevier BMW. He is seeking internship experience in commercial development, sales, and brokerage.

View Paul’s LinkedIn profile https://www.linkedin. com/in/paulandrewtorres/.

Carina Truong (Graduating Spring 2020) An accounting major who is currently a marketing intern with Portillo Sales and Marketing, Carina would like to grow her career into property management, asset management or appraisal. View Carina’s Linkedin profile https://www.linkedin.com/ in/carinatruong/.

Shayla Servantez (MBA Student) Shayla completed her undergraduate degree in public administration with a minor in international politics and is now enrolled in CSUF’s Mihaylo Flex MBA Program. Shayla currently assists a property management company run Airbnb listings from Florida, while also working as an Evaluations Specialist for Mihaylo Graduate Programs. Shayla has strong experience in customer service, including stints at Disney and Seattle’s Union Gospel Mission.

Shayla is also CSUF student alumni ambassador, coordinator for the Associated Students’ Community Engagement Commission, and a member of the Real Estate Association. She has an intense work ethic and drive to achieve. Shayla is seeking an internship in commercial brokerage, property management or appraisal. View Shayla’s LinkedIn profile https://www. linkedin.com/in/shaylaservantez/.

To set up an interview, contact the Center for Real Estate’s Program Director at licarbone@fullerton.edu www.business.fullerton.edu/CRE | CRE@fullerton.edu 16

Looking for Qualified, Enthusiastic Interns?

Contact cre@fullerton.edu today.

www.business.fullerton.edu/CRE | CRE@fullerton.edu 17

Center for Real Estate Advisory Board Members Harriet Alexson, Attorney, Lee, Hong. Degerman, Kang & Waimey Shannon Alter, Owner, Leaders Exceed Andrew Bermudez, CEO, Digsy Mark Bridge, Managing Director, Capital Markets, Cushman & Wakefield Scott Coler, President, Capital Pacific Real Estate Pat Donahue, Chairman & CEO, Donahue Schriber Ron Duong, Executive Managing Director, Cushman & Wakefield Brian Erhahon, CEO, Keller Williams / Real Estate, Service Pros Karen Flanigan, President, BOMA OC, Executive Vice President Greenlaw Steve Haddadin, CEO, King Real Estate Mike Hefner, Executive Vice President, Voit Real Estate Services Mike Kent, National Director, Asset Management Goodman Tyler Leeson, Senior Managing Director, Marcus & Milichap Joone Lopez, General Manager, Moulton Niguel Water District Gary Martinez, Senior Vice President, Ashwill & Associates President, Southern California Chapter CCIM Bob Osbrink, Director, Center for Real Estate Geoff Payne, President & CFO, Tahiti Properties Corp Julie Rodriguez, President, IREM OC, VP of Membership Ernie Schroeder, President, Schroeder Management Panos Skordi, Faculty Advisor, Real Estate Associates Bob Taylor, President, REMM International Sandra Vaughan-Acton, Director, Real Estate Development, Cal Poly Pomona Brenna Walraven, President & CEO, Corporate Sustainable Strategies, Inc. Dana White, Director of Business Development, Greensworks Lending

Real Estate Associates Board Members Spring 2020 President ..................................................................................James St. Louis ........................................... Senior, Graduating Incoming President.............................................................Evelyn Aguirre........................................................................Senior Co-VP .........................................................................................Matthew Andoaga ..............................................................Senior Co-VP .........................................................................................Evelyn Aguirre .......................................................................Senior Treasurer ..................................................................................Jorgeluis Vargas ....................................................................Junior Director of Events ................................................................George Bahbah .......................................................................Junior Co-Director of Marketing ................................................Ashley Johnson ......................................................................Junior Co-Director of Marketing ................................................Julia Moon ...................................................... Senior, Graduating Director of Sponsorship ...................................................Melissa Munoz ..............................................................Sophmore Directoer of Fundraisers ..................................................Efrain Ramirez ........................................................................Junior Director of Member Engagment .................................Jason Abdulnour ........................................................... Freshman www.business.fullerton.edu/CRE | CRE@fullerton.edu 18

Professional Real Estate Association Partners Institute of Real Estate Management (IREM) www.iremco.org

Commercial Real Estate Women (CREW) www.crew-oc.org vvvv

Building Owners and Managers Association (BOMA) www.bomaoc.org

Pacific West Association of REALTORS® (PWR) https://www.pwr.net

Certified Commercial Investment Member (CCIM) www.ccim.org

National Association of Industrial and Office Properties (NAIOP) https://www.naiop.org

CRE Sponsors and Supporters

JOIN US! https://giving.fullerton.edu/giving.aspx www.business.fullerton.edu/CRE | CRE@fullerton.edu 19

CALIFORNIA STATE UNIVERSITY

FULLERTON

CENTER FOR REAL ESTATE MIHAYLO COLLEGE OF BUSINESS AND ECONOMICS PO BOX 6848 FULLERTON, CA 92834-6848

To join the Center for Real Estate as a Founding Member, please complete and return the form below to: Cal State Fullerton, Center for Real Estate SGMH 5163, PO Box 6848, Fullerton, CA 92834-6848. Thank you for your support!

GIFT AGREEMENT

The gift agreement (“Agreement”) confirms the commitment of ______________________________________________ (“Donor”) to contribute $30,000 to the Cal State Fullerton Philanthropic Foundation (“Foundation”) for the benefit of California State University, Fullerton (“University”) to support the Mihaylo College of Business and Economics’ Center for Real Estate.

This Agreement clarifies the intent of the Donor with respect to use of the gift by the University, gift fulfillment, and the respective responsibilities and expectations of the Donor, Foundation, and University.

Gift Fulfillment: The Donor agrees to fulfill this gift by the following schedule: ● ● ●

$10,000 on or before December 31, 2020 $10,000 on or before June 30, 2021 $10,000 on or before June 30, 2022

The gift may be satisfied with direct cash gifts or gifts of securities at the discretion of the Donor directly to the Foundation. The Donor may accelerate pledge payments; however, it is the Donor’s intent to complete this pledge no later than​ June 30, 2022.

The recording of a pledge will be made upon this document being signed by the Donor and the appropriate representatives of the Foundation and the University.

The Donor acknowledges that any contributions through corporate matching gifts cannot be used to reduce the outstanding balance of this Agreement.

Purpose and Use of Gift Proceeds: The proceeds will be used to support the Mihaylo College of Business and Economics in support of the Center for Real Estate endowment and operating funding priorities as managed by the Director of the Center. ​Donor is aware the gift and the use of funds must comply with current policy and administrative guidelines of the University.

Unforeseeable Changes in Circumstances The proceeds shall be used for purposes consistent with the laws of the State of California and the educational mission of California State University. Fullerton. In the unlikely event that future circumstances should change so that the purpose of procedure set forth herein conflict with state law or practices of the University or make the awarding of this gift impracticable or impossible, then the Foundation, in consultation with the University, may make such modifications as may be deemed appropriate or may designate the use of the funds in a manner most closely aligned with the donor’s original intent.

Donor_____

College______

AVP_____

www.business.fullerton.edu/CRE | CRE@fullerton.edu 20

Center Director_____

CALIFORNIA STATE UNIVERSITY

FULLERTON

CENTER FOR REAL ESTATE MIHAYLO COLLEGE OF BUSINESS AND ECONOMICS PO BOX 6848 FULLERTON, CA 92834-6848

Recognition of Donor In consideration of and appreciation for the gift, the University will publicly disclose the source of the gift as: __________________________________________________________________________________________________.

The University and Foundation may publicize the gift in annual recognition publications, press releases, and other University publications and media.

The Foundation and University may make public reference to the gift and the names of the Donor indefinitely.

Consistent with University and Foundation policy, the names of donors, who have not requested anonymity, may be included in listings of donors. Further, it is University and Foundation policy to maintain donor confidentiality with respect to its completed gift agreements and other donor correspondence and gift documentation to the full extent allowed by law.

Binding Obligations: This Agreement shall be binding upon and inure to the benefit of the Donor, Foundation, and the University, and their respective successors, heirs, assigns, administrators, and executors. The Donor intends the Agreement to be fully enforceable against the estate of Donors to the extent that the obligation has not been satisfied by gifts completed following the date of this Agreement. The Donors agree to insert dispositive provisions in their wills that will be consistent with this Agreement.

This Agreement is executed in and shall be governed by the laws of the State of California.

Except as otherwise provided, this Agreement is irrevocable.

This Agreement may be amended by written and signed agreement of the Donor, Foundation, and University.

Exempt Status: The Donors and University recognize that the Foundation was established to receive philanthropic gifts to promote, assist, and enhance the educational mission of the University. The tax identification number of the Foundation is 33-0567945, and it is qualified as a charitable organization under Internal Revenue Code 501(c)(3) for which the Donor may be entitled to tax deductions for charitable contributions under Internal Revenue Code sections 170(b)(1)(A), 170(c), 2055, and 2522.

Executed by: Donor: __________________________________________________________________________ Date: _____________ For the Mihaylo College of Business and Economics: ________________________________________________________________________________ Date: _____________ Dr. Morteza Rahmatian, Dean of the Mihaylo College of Business and Economics For the Cal State Fullerton Philanthropic Foundation: ________________________________________________________________________________ Date: _____________ Greg Saks, Executive Director of the CSUF Philanthropic Foundation

Donor_____

College______

AVP_____

www.business.fullerton.edu/CRE | CRE@fullerton.edu 21

Center Director_____

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CALIFORNIA STATE UNIVERSITY

FULLERTON

Mihaylo College of Business and Economics Center for Real Estate

cre@fullerton.edu | (657) 278-4125 https://www.linkedin.com/company/42694092 www.business.fullerton.edu/CRE | CRE@fullerton.edu 23