Scholarship & Fellowship Award Recipients: Tushar Bundhela & Ana Kalugina

The Baker Program in Real Estate is proud to announce that two of its students have been presented significant nationally recognized scholarship and fellowship awards.

NAIOP Diversity Scholarship – Ana Kalugina

Ana Kalugina, MBA/MPS RE Candidate 2017

Ana Kalugina is a dual-degree candidate (MBA|MPS RE) graduating in May 2017.  Ana is a co-founder of Cornell University’s Real Estate Career Work Groups and vice president of career development for Cornell Real Estate Women (CornellREW).  She also worked as a research intern for Hodes Weill & Associates, a real estate advisory boutique with a focus on the investment and funds management industry.  Her interest in how the built environment impacts human lives has influenced her real estate career plans.  Ana is currently pursuing a career in real estate finance and investments or real estate development.

The NAIOP Diversity Scholarship is an effort, in conjunction with NAIOP University Members, to increase diversity in commercial real estate.  NAIOP champions diversity through a strategic initiative that also provides resources and case studies on incorporating professionals from traditionally under-represented groups – including young people, women, African Americans, Asians, and Hispanics – throughout the industry.  The association is unequivocal in its position that commercial real estate companies should take a leading role in encouraging and increasing diversity in the workplace.

Ana’s interview with NAIOP can be found at the following link: Interview with Ana Kalugina.

NAREIM Fellowship – Tushar Bundhela

Tushar Bundhela, MPS RE Candidate 2017

Tushar Bundhela is a MPS RE candidate in the Baker Program’s Class of 2017 with a focus in real estate finance and investments.  His fascination with real estate began when he joined India’s largest real estate company, DLF Ltd., in the domain of asset management and strategy at the Vice Chairman’s Office after graduate business education from Cardiff Business School in the United Kingdom.  His role as an asset manager involved performing incisive financial analysis for budgeting of capital expenditures and operating expenses, leases, and capital deployment for the financial year.  His asset portfolio at DLF included 20 million square feet of leased office and retail space with an annual rental income in excess of $350 million.  He has had first-hand exposure to private equity real estate deals, asset dispositions, asset repositioning, asset acquisitions, and several investment grade tenant deals in his real estate career.

Tushar worked with the real estate private equity firm Cohen Equities in New York City for the summer of 2016.  He worked in acquisitions where he evaluated and underwrote new investment opportunities utilizing Excel and Argus to prepare financial models for distressed commercial assets.  Upon graduation, Tushar plans to pursue a career in real estate finance, real estate M&A, and real estate private equity.

NAREIM (National Association of Real Estate Investment Managers) members manage investment capital on behalf of third party investors in commercial real estate assets such as office, retail, multi-family, industrial and hotels. Collectively, NAREIM members manage over a trillion dollars of investments assets. The NAREIM Fellowship Program was established with the two goals of shifting young people’s focus towards the real estate investment management industry while also shining light on the abundance of young, enthusiastic talent available to firms, all by involving young people in NAREIM internships, meetings, and research activities

As part of his fellowship, Tushar wrote an article on the impact of crowdfunding specific to real estate investment.  The article can be found at the following link: 2016 NAREIM Executive Officer Meeting.

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