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Dallas, Texas: Day Two, Afternoon

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Sean Mashian

Sean came into the Baker program with a background in public accounting and finance. He most recently interned at Capstone Advisors, a diversified real estate investment, development and asset management company. In his role as Summer Associate, Sean helped update asset management models for over 1 million square feet of real estate, and worked on special development projects as they arose Sean also has career experience in complex analysis models for the calculation and presentation of discounted cash flows, IRR, hurdle rates, cap rates, financial statement analysis, and profit & loss projections for purchases and developments across the country. He also has received CPA licensure in California. Sean graduated cum laude from UCLA in 2013 with a Business Economics major and an Accounting minor

On the second day of First-Year Baker students’ 2017 trip to Dallas, students had the opportunity to meet with Trammell Crow Company, a subsidiary of CBRE. Headquartered on McKinney Avenue in Dallas, Trammell Crow Company is one of the nation’s oldest and most prolific developers of commercial real estate. Trammell Crow currently has offices in 16 major US cities and has developed or acquired over 565 million square feet of real estate. Trammell Crow’s primary asset classes consist of office and industrial real estate.

The presentation to Baker students was led by Joel Behrens, Principal and K.C. Bills, Vice President of the Dallas office. Students first learned about the beginnings of Trammell Crow and how the firm became the national presence it is today. The company began in Dallas with a focus on industrial real estate, and now has over 16 offices with over 200 people. The company then began to speak of the work they had been doing in Dallas. Last year, the Dallas office was extremely active, with over $1.1 billion in process and 7.3 million square feet of work done just in the Dallas area.

Students then learned about the largest project currently underway, the Park District development. The Park District will be located at the heart of Downtown Dallas, the Arts District, Uptown and Klyde Warren Park. The two tower, mixed-use development boasts more than 900,000 square feet of premier Class A office space, restaurants, and luxury residences.

Mr. Bills and Mr. Behrens walked students through the process of its development, from the initial identification of the property to negotiations with the city over the affordable housing aspect, and the subsequent agreement to have PwC as a headlining tenant within the office space. After watching a video that detailed the project and the vision that Trammell Crow hold for the development, students received a chance to visit the construction site, located within walking distance.
Donning cowboy hard hats to add to the Texas experience, Baker students split into two groups led by Mr. Behrens and Mr. Bills. Both toured the development, which is currently slated for a 2018 unveiling. Students viewed and learned of many of the construction processes currently underway, such as the excavation of a five-level parking lot below ground. After the tour, students received a chance to have any questions answered. Baker Students are thankful to Trammell Crow for hosting and providing a unique opportunity to visit a development as it takes place.

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