Alumni Career Profiles
Students come to the MIT Center for Real Estate's MSRED program at many different stages in their careers. Some have clear goals that they follow through on after graduating. Others come with a strong career focus that shifts as they discover talents and interests they didn't realize they had, and alternatives within the real estate industry. Still others come to explore their career options fully, and on graduation find employment in an area of the industry that they hadn't considered before coming to MIT.
The alumni profiles below give a sense of the variety of backgrounds that students bring into the MSRED program, and the range of real estate careers they have launched after graduation.
Feature Profiles
- Doing Well by Doing Good — Will Bradshaw '06
- Follow Your Interest: New Focus Bringing New Excitement — Rebecca Asser '04
- The Difference Is Confidence — Caroline Lange '02
- Different Markets, the Same Fundamentals — Gonzalo Cortabarria '97
- An Entrepreneur Creates Her Own Luck — Brenda Radichel '93
Capsule Profiles
Doing Well by Doing Good
Will Bradshaw '06
Describing his real estate education at MIT, Will Bradshaw calls himself "an odd duck" -- completing his MSRED in three years rather than one, while simultaneously pursuing a MIT doctoral degree in city planning.
Even though his approach has been non-traditional, there is nothing odd about Will's desire to do well by doing good. The New Orleans-based developer proved this by helping to rebuild his hurricane-battered city -- and in ways that are profitable, sustainable, and centered in the needs of his community.
Will enrolled at MIT after serving as Organizational Director for the Davidson Housing Coalition, a North Carolina-based Community Development Corporation. He wanted to give his background in community development a technical edge.
"I came to MIT/CRE because of the strong analytical focus on real estate," he said, "and the fact that the Center is housed within a planning school (I was dual-degree with MIT's city planning program). I could focus on advanced green building techniques while honing the ideas for my business."
Will says that his work at MIT gave him a greater sense of the world, and of real estate's place in it. "For the first time, I gained a true understanding of what it means to create value in an economic sense." he said. "I was able to rigorously test my ideas about how economic value is tied directly to creating social and environmental value."
Sooner than he expected, Will had the chance to test his ideas and his education. He graduated with an MSRED in 2006 -- one year after hurricanes Katrina and Rita hammered the Gulf Coast with what is arguably the worst natural disaster in U.S history. Will felt called to apply everything he'd just learned to help rebuild the region.
The obstacles to rebuilding have been monumental, but Will found that his MSRED served immeasurably -- not only through the knowledge and skills it gave him, but also through intangibles. "It gave me self-confidence," he said. " I didn't know everything when I graduated, but I knew I could hold my own in a roomful of real estate veterans. I had a much keener sense of my own knowledge and ability."
This was key to his entrepreneurial venture. "I'm the president of my own firm, Green Coast Enterprises, and a principal in a related firm NOLA Community Development," he said. "We're engaged in rebuilding New Orleans and the Gulf Coast region by creating healthier, safer, stronger, more efficient, and more affordable homes and neighborhood-scale commercial structures."
Green Coast emphasizes innovative solutions for underserved communities. One example is a recently completed 4-unit condominium project called The Arabella, which is offering a new model for green building in the region. "These steel-framed condos are super-efficient," he said, "and are elevated well above flood levels. They use a range of recycled and rapidly renewable materials for flooring, baseboard, crown molding, and countertops."
At the same time that Will seeks financial profit for his company, he seeks social profit for his community. "We are the owner's representative on a philanthropic project called Project Home Again," he said. "It seeks to rebuild over 100 homes for New Orleans families."
His company started construction on the project's pilot phase in the Gentilly neighborhood by overseeing construction of 20 homes. "These homes are supported by a Building America team from the U.S. Department of Energy," he said, "and will help 20 families come back home to the city they left during storms of 2005."
Even though his development work keeps him busier than ever, Will's academic ties remain strong. "I continue to work on my doctoral dissertation from New Orleans," he said, "in addition to running my businesses." Ongoing progress on his MIT Ph.D. in Regional and Urban Economics and Sustainable Community Development maintains a healthy dialog between the theoretical and practical sides of his work.
He is also leading a novel project on sustainability -- partly through his role as an Adjunct Faculty member in the Tulane School of Architecture -- that investigates the use of live plants for contamination removal. "We're looking at using plants to remove contamination from small lots currently owned by the redevelopment authority," he said. "We focus on those plants that can also be harvested to create ethanol or other bio-fuels."
He hopes to launch a pilot program in 2009. "Ideally, this project will create green-collar jobs -- many with low educational hurdles. It could also put blighted property back into productive use, model how urban farming can work on small infill lots, remove soil contamination so property can be safely used in the future, and generate a new source for biofuel generation."
Asked what was most important about his time at MIT/CRE, Will was unequivocal. "It was the people," he said, "students, faculty, and staff. A number of my classmates remain important friends and business associates. Several serve as advisers to my business."
And if he were advisor to a younger real estate professional, what advice would he give? It seems to come directly from his experience helping to rebuild after a disaster: "Seek out the opportunities that frighten you."
Follow Your Interest: New Focus Brings New Excitement
Rebecca Asser '04
Rebecca Asser knew one thing for sure – she wanted a change. After three years on various assignments in the real estate industry (as analyst of business relocation and occupancy cost consulting projects for Arthur Anderson; as consultant on organizational development and property management for Rockrose Development) she was ready for a sharper focus.
"I wanted to shift my career toward real estate development," Rebecca said, "and MIT offered an intense and prestigious program to help me do it." She completed her MSRED in 2004 – the first step toward her current position as Vice President of the New York City Economic Development Corporation (NYCEDC).
Now Rebecca is working on projects she finds especially exciting because they're grounded in her clearer focus. "I recently completed the sale of approximately 175,000sf of development rights to a private developer for the construction of a 725' tall Gold LEED Certified mixed-use tower," she said.
The new "green" tower will be constructed in Manhattan’s Financial District at the foot of the Brooklyn Battery Tunnel, and the sale was one of her most interesting in terms of land use. "It relied on the creation of development rights through the de-mapping of a street bed," she said, "as well as writing new zoning text to allow the transfer."
The transaction brought in over $30M of revenue to the City of New York, but the project is doing much more. "It will bring the area to life by attracting residents to a neighborhood that is largely commercial. The project will also create a better pedestrian connection between the Battery Park City and Financial District neighborhoods."
Rebecca found that her experience at MIT/CRE gave her an edge as VP in her new position. "When I came to NYCEDC, many people had expertise in financial analysis, or planning, or law, or architecture, but I had knowledge of them all – an understanding of the industry that few of my colleagues had. It was easy to transfer what I learned at MIT to real world projects," she said. "I had all the tools I needed to be a successful project manager."
Currently, Rebecca is working with the Whitney Museum of American Art to construct a new facility in Manhattan’s Meat Packing District. The project is located on a site at the beginning of the High Line – a park being constructed on an abandoned elevated rail, and slated to open at the end of 2008.
"It’s an exciting partnership with multiple City agencies on a complicated site," she said of the project, which will also will house a maintenance and operations facility for the High Line park. "It will add cultural space and public open space to a neighborhood that is being overtaken by hotels and high end retail."
Asked what advice she would give a young real estate professional deciding on a next move, Rebecca kept it simple: "Do what you're interested in. Do what you believe in."
The Difference Is Confidence
Caroline Lange '02
Caroline Lange came to MIT/CRE to learn about real estate finance, but she left with much more — a newfound knowledge of herself and her capabilities that would take her career to impressive heights.
Her journey began with a practical goal: "I was keen to learn about architecture and real estate projects from about the investor's point of view," she said. "I wanted to know corporate finance, real estate finance, and the related legal issues." Caroline came to MIT after working as Architect and Urban Planner for a German office in Shanghai. She developed the master plan for Anting New Town, a city of 30,000 inhabitants that has since been built.
But she wanted a more rigorous understanding of the money side of real estate, and MIT looked like the place to get it. "Of the many schools that I visited," she said, "including Columbia, Harvard, and London Business School, the real estate program at MIT/CRE was by far the most structured and challenging."
She describes her year at MIT in terms of both its challenge and its human dimension. "I was profoundly influenced by a number of great professors — all admirable experts in their field and all great personalities. And my classmates were the most intelligent and inspiring crowd I've ever met."
The demanding courses and exceptional influences proved a winning combination. "After my year at MIT, I felt that no challenge in the field of real estate was beyond me. Even though I wasn't an expert in all areas, I had the comprehensive overview of the industry I needed to know how to deal with them. Successfully completing my MSRED degree gave me the feeling that I could manage any incredible challenge in life. It was great for my self-confidence when I applied for new jobs. And with an MIT degree in my hand, it seemed that employers' doors immediately opened wide," she said.
The knowledge and insight Caroline gained at MIT/CRE has been key in her current role. "I'm now Senior Facilities Manager at Dell Computers, head of construction for all projects in Europe, the Middle East, and Africa (EMEA) with projects in Paris, Milan, Lisbon, Geneva, and more. I'm also head of construction and operations for emerging countries that include the UAE, Saudi Arabia, Egypt, Morocco, South Africa, Russia, Turkey, Poland, Hungary, Romania… a total of 39 countries," she said.
Caroline's year at MIT taught her strategies and disciplines that can be applied throughout life. "My speed at managing workloads had drastically increased. In my current position, I'm proud to have delivered all projects on time and within budget — projects in some of EMEA countries as large as 200,000 SF."
With the academic foundation provided by her MSRED, she has continued her academic pursuit. "What I learned at MIT/CRE was essential to my completing a Ph.D. in Retail Theory and Shopping Centers at the Berlin University."
Now a seasoned real estate pro with impressive academic credentials, Caroline's advice to younger professionals is simple — "Go for it!" — advice that comes from the knowledge that the reward for facing and overcoming challenge is confidence.
Different Markets, the Same Fundamentals
Gonzalo Cortabarria '97
Two years after graduating from MIT/CRE, Gonzalo Cortabarria moved to Buenos Aires to set up a new office for Hines. He'd been deeply involved in the Argentine real estate sector over the previous year, and his role as a Hines Project Manager was now threefold: (1) to search for development and acquisition opportunities; (2) to look for opportunities to service third parties; and (3) to take care of all the administrative business that goes with opening an office.
Although he was on his own, he relied heavily on Hines' network for support, both his home office in Chicago, the Latin American head office in Sao Paulo which he helped establish in 1998, and the central office in Houston. He kept in touch through scheduled conference calls as well as phone and e-mail. His job was not easy, given the close connections between the economies of Argentina and Brazil which experienced a severe currency crisis in 1999. "There was a slowdown and a lot of uncertainty," said Gonzalo, "but in bad times one can often find great opportunities."
Before coming to MIT he worked as a manager on a private highway construction project in his native Uruguay. He came to MIT to gain "first class expertise and learn how things are done in the US" so he could apply those tools in Latin America. "MIT was a turning point for me," he said. "It helped me reposition my career and became an international player. At Hines I've worked on projects in the U.S., Brazil, and in Argentina — different markets, but with the same basic real estate behaviors. The fundamentals apply everywhere."
Gonzalo's days were varied. He met with brokers, ran numbers on a project under consideration, met with potential tenants to assess project marketability, or open a bank account. He was also involved with administration, taxes, legal issues, and recruiting. What makes it doable was the support he got from Houston and Chicago. "We use a team approach." His job suits him well. "I like meeting people and putting things together--finding ways to make something work," he said. "I enjoy negotiation. And I even like doing financials, creating proformas and trying out various scenarios. That, I learned at MIT."
About his time at MIT, he added, "The experience was extraordinary. An opportunity to meet fascinating people, both faculty and classmates. I made very good friends--now I have a place to stay in many cities around the world!"
An Entrepreneur Creates Her Own Luck
Brenda Radichel '93
Since 1997, Brenda Radichel has been the Principal of her own firm New Era Development, as well as an officer in a family real estate company that holds a small portfolio of commercial buildings in southern Minnesota.
Brenda left her former position as vice president of development for Welsh Companies to start her own company because she wanted "the kind of experience you can only get by working for yourself." She felt that the time was right in the real estate cycle to take that risk.
Her firm owns a 20-acre industrial park in Rochester, MN, home of the Mayo Clinic. Although there had been little local construction during the previous seven years, a new freeway contiguous to her land had just been completed, and the time for opportunity seemed ripe. She and her sister contributed the capital for the construction of a 35,000 sf office/showroom building in the spring of 1997. By the time the building was completed in June of 1998, it was fully leased.
Brenda placed her permanent financing with a conduit just a few months before conduit lending ground to a halt in the summer of 1998. "It never hurts to be lucky," says Brenda. "I had no idea of the exposure I had with a conduit. They don't commit to doing a deal until the loan closes." To diversify her risk she will look to a different kind of lender for her next building which was in the planning stage in 1999.
Before coming to MIT, Brenda was a workout lender for Shawmut Bank (now Fleet). While the option of going out on her own was always there, she knew she needed a broader knowledge of the industry which she hoped to get by coming to MIT. What she got in addition was an underlying self-confidence. "It's not that I thought I knew everything when I graduated," she says, "but I did know I could hold my own in a group of real estate professionals and learn what I needed to while climbing the learning curve. Schooling just sets the stage." The other thing she got from MIT was a strong understanding of legal issues and real estate finance. "If you don't understand how to create value, you don't provide anything. Anyone can put up a building."
Snapshot Alumni Profiles by Job Type
Asset Management
Julia Viskanta '88
Julia Viskanta is a Senior Asset Management Officer at State Teachers Retirement, Ohio in San Francisco, CA where she is responsible for the Southern California portfolio. Before coming to MIT, she was a Construction Project Manager with Pantheon Corporation in St. Louis, MO.
Joyce Lee '89
Joyce Lee is Chief Architect with the Office of Management & Budget in New York City where she is responsible for oversight of resource intensive projects in New York City's $4 billion capital program. Before coming to MIT, Joyce worked with an architectural firm where she worked closely with developers and their concerns.
Andrew Segal '91
Andrew Segal is Vice President at Jones Lang LaSalle in San Francisco, CA and is responsible for on-site leasing and management of a $750 million portfolio of California office and industrial. Before coming to MIT, Andrew was a project manager for a commercial developer in San Francisco.
Deborah Ulian '98
Deborah Ulian is Director of Asset Management with UBS Realty Investors in Hartford, CT and is responsible for a commercial portfolio of real estate (office, industrial and retail). Prior to MIT, Deborah worked as a Principal Broker in Rhode Island and Massachusetts.
Jenifer Uncapher '01
Jenifer Uncapher is Deputy Director at Aspen Valley Land Trust in Carbondale, CO where she is responsible for creating innovative land conservation activities, increasing the capacity of the organization and implementing the goals of the board of directors. Before coming to MIT, Jenifer worked as a Managing Director at Rocky Mountain Institute.
Consulting/Advisory
Edward Monahan '86
Edward Monahan is a Director of Financial Advisory Services at Price Waterhouse Coopers and is responsible for South American banking, financial services, asset management, and real estate clients. Prior to MIT, Ted worked in the Corporate Banking Group of Citibank in Santiago, Chile.
Bruce Eidelson '87
Bruce Eidelson is the Director of Real Estate Advisory Services for Russell Real Estate Advisors in San Diego, CA and is the Investment Advisor focusing on real estate portfolio issues for major pension funds and tax-exempt investors. Before coming to MIT, Bruce was a Manager at the Los Angeles branch of Laventhol & Horwath, a major national public accounting and consulting firm.
Pietro Doran '90
Pietro Doran is Senior Principal at Doran Capital Partners in Seoul, Korea and is responsible for identifying investment opportunities throughout Korea for Morgan Stanley Real Estate Fund, for which DCP is the operating partner and senior advisor in Korea. Prior to MIT, Pietro owned and operated a real estate investment and development company.
John Fleeman '90
John Fleeman is President of Fleeman & Co. in Miami, FL. Fleeman & co is a commercial real estate brokerage in Miami, FL, specializing in office and industrial properties. Services provided include landlord and tenant representation. Before coming to MIT, John was Director of Leasing for Karsten Realty Advisors in Miami.
William Browning '91
William Browning is the Founder of Green Development Services at Rocky Mountain Institute in Snowmass, CO. Green Development Services provides research and consulting on environmentally responsive development for such clients as Hines, Lucasfilm, Forest City, and the White House. Prior to MIT, William worked at Rocky Mountain as a research associate.
Paul Poston '91
Paul Poston is District Director, Great Lakes Region for Neighborhood Reinvestment in Cincinnati, OH. He oversees direct delivery of funding and consultant services supporting affordable housing and related activities of community-based nonprofits. Prior to MIT, Paul served as Chairperson of Tent City Development Corporation in Boston.
Development
Andrew Gutowski '86
Andrew Gutowski is Vice President of Development at The JBG Companies in Washington, DC where he is the manager for several large multi-family developments in downtown DC. Prior to MIT, Andrew worked with Benjamin Thompson & Associates, an architectural firm in Cambridge, MA.
Kimberly McKay '90
Kimberly McKay is Senior Project Manager at the Related Companies of California in Irvine, which handles the development of affordable and market rate residential on the West Coast. Prior to MIT, Kimberly was responsible for structuring public/private partnerships for the Department of the Navy.
L. Jay Timon '98
L. Jay Timon is a Developer at AIG-Baker Development, LLC in Birmingham, AL where he identifies potential shopping center sites and manages site purchase negotiations, tenant recruitment and news. Before coming to MIT, Jay worked as a consultant through his own real estate development and consulting firm.
Richard Donovan '01
Richard Donovan is a Project Manager with Leggat McCall Properties in Boston where he manages development for third party clients. Before coming to MIT, Rick worked for a large construction manager, Gilbane Building Company in Providence, RI.
Byron Gumbs '01
Byron Gumbs is a Development Associate with Summit Properties in Charlotte, NC where he is responsible for locating sites for acquisition, negotiating with sellers, obtaining permits and necessary approvals in order to facilitate construction, and analyzing investment opportunities present in the market. Prior to MIT, Byron worked in project management with Cesar Pelli and Associates in New Haven, CT.
Michael T. Harrison '90
Michael T. Harrison is Vice President at Hines in Atlanta, GA where he is responsible for the development, acquisition and management of office projects, mixed-use projects, & master-planned communities throughout the southeastern U.S. & Caribbean. Prior to MIT, Michael worked with Symmes Maini and McKee, an architectural engineering firm in Cambridge, MA.
Development/Entrepreneur
Patrick Kennedy '85
Patrick Kennedy is a Developer with Panoramic Interests, a mixed-use developer in Berkeley, CA. Prior to MIT, Patrick worked as a contractor, renovating several residential properties and one office building.
Ara Aftandilian '87
Ara Aftandilian is a Principal at Summit Properties of Topsfield, MA, a developer of retail, hospitality and commercial mixed-use properties in MA, ME, NH and VT. Before coming to MIT, Ara worked as Director of Development at Emerson Management Group, Inc.
Randy Nichols '89
Randy Nichols is President of Nichols Partnership, a development firm in Denver, CO which focuses on mixed-use developments. Before coming to MIT, Randy was a Vice President with LaSalle Partners, Ltd in New York City.
Development/REIT
Michael O'Connell '95
Michael O'Connell is Director of Development at Taubman Company in Bloomfield Hills, MI where he manages development of new shopping centers and expansion of existing centers. Prior to MIT, Michael worked with O'Day Consultants in Carlsbad, CA.
Margaret Cryer Foody '90
Margaret Cryer Foody works in Special Projects at Avalon Bay Communities in San Jose, CA where she provides consulting advice for the design, development, lease-up, and management of the retail component of mixed use projects. Before coming to MIT, Marnie worked for various architectural firms in Boston, MA.
John Bell '99
John Bell is VP of Development for AMLI in Kennesaw, GA where he is the project manager for a mid-rise condo subdivision. Before coming to MIT, John worked at a residential and commercial construction company which he started.
Finance
Lawrence Ellman '92
Lawrence Ellman is Vice President at JP Morgan Fleming in New York where he is an acquisitions officer responsible for making domestic real estate equity investments in direct investments, joint-ventures and operating companies across all property types. Prior to MIT, Larry worked as a commercial broker with Burke Commercial Real Estate in North Orange County, CA.
Sameer Nayar '96
Sameer Nayar is Director of Large Loans at Credit Suisse First Boston in New York where he is involved in pricing, structuring and securitizing real estate loans over $50 million. Prior to MIT, Sameer worked for Nuchem Weir Ltd., a project management consulting firm.
David Marks '01
David Marks works with The Blackstone Group International in London, England where he is responsible for investing $4.0 billion of capital on behalf of the Blackstone Real Estate International Fund. Before coming to MIT, David worked for Jones Lang LaSalle in both their New York and London offices.
