2019 Summer Internship Series: Wilson Blum, Rialto Capital

This Summer I had the opportunity to join Rialto Capital as a Summer Associate.  Rialto was formed in 2007 by industry veteran Jeff Krasnoff as a subsidiary of Lennar, the nationally recognized homebuilder.  Krasnoff was previously president of LNR, another prior subsidiary of Lennar that was formed in the early 90’s to take advantage of… Continue Reading 2019 Summer Internship Series: Wilson Blum, Rialto Capital

DSS Wrap-Up: Mark Fogel, Founder, President and Chief Executive Officer of ACRES Capital

On Thursday, May 2nd, the Cornell Baker Program in Real Estate welcomed Mark Fogel, Founder, President, and Chief Executive Officer of ACRES Capital, as part of its Distinguished Speaker Series.  Mr. Fogel has more than twenty years of experience in commercial real estate finance, with a focus on providing debt and equity solutions for transitional,… Continue Reading DSS Wrap-Up: Mark Fogel, Founder, President and Chief Executive Officer of ACRES Capital

D.S.S. Wrap-Up: Erica Henning ’96 (A&S), ’97 (MPA)

  This past Thursday, the Baker Program in Real Estate’s Distinguished Speaker Series (DSS) had the pleasure of welcoming Cornell alumna Erica Henning back to campus. After leaving Cornell in 1997 with a Bachelor’s in history and a Master’s degree in public administration, Erica held consultant and financial analyst positions in New York City while… Continue Reading D.S.S. Wrap-Up: Erica Henning ’96 (A&S), ’97 (MPA)

Tokenized Real Estate: Creating New Investing and Financing Channels Through Blockchain

In 2018, New York City-based asset management firm Elevated Returns completed a tokenized real estate offering for $18 million on the Ethereum blockchain. The asset was the St. Regis Resort in Aspen, Colorado. The high-profile property and the employment of an unusual fundraising method caught the attention of investors, fintech enthusiasts and blockchain communities. Not… Continue Reading Tokenized Real Estate: Creating New Investing and Financing Channels Through Blockchain

The Need for Land Value Capture in Infrastructure: the case of the Tappan Zee Bridge

Public infrastructure has long been financed through direct government budgetary appropriation, grants, and government borrowing.  The long-term debts have typically been repaid from revenues generated by the asset through user charges, or from the general taxing power of the government.  With an increasingly high demand for infrastructure investments, and limited resources to achieve them, other… Continue Reading The Need for Land Value Capture in Infrastructure: the case of the Tappan Zee Bridge

The Need for Privatized Student Housing

In today’s hyper-competitive college application process, student housing is a focus for many institutions of higher learning.  The administrations and boards of trustees often believe that, by creating more attractive housing opportunities, they can improve their institution’s ability to attract and retain students and faculty residents.  College housing preferences have changed drastically as students are… Continue Reading The Need for Privatized Student Housing

California High Speed Rail – Sidetracked, but not the End of the Line

Last month, California Governor Gavin Newsom scaled back the California High Speed Rail (HSR) planned from Los Angeles to San Francisco due to budget and time overruns.  The trimmed-down line will now run from Bakersfield to Merced – which was previously the Initial Operating Section (IOS) of the Bay-to-Basin alignment.  With due respect to the… Continue Reading California High Speed Rail – Sidetracked, but not the End of the Line

DSS Wrap-Up: Alan Riffkin (CALS ’88), Managing Director, Real Estate Investment Banking – M&A, Lazard

This past Thursday the Baker Program in Real Estate had the pleasure of welcoming Cornell alumnus Alan Riffkin (CALS ’88) of Lazard, a global leader in merger and acquisition (M&A) advisory services. Alan is a managing director of the real estate M&A group, a dynamic team that provides advisory services to a wide variety of… Continue Reading DSS Wrap-Up: Alan Riffkin (CALS ’88), Managing Director, Real Estate Investment Banking – M&A, Lazard

Alternative Financing — Real Estate Crowdfunding

Online crowdfunding is a model that has become increasingly popular over the past decade.  Crowdfunding is defined as the practice of funding a project or venture by obtaining small amounts from individuals via the Internet. Several crowdfunding platforms exist and each one serves a different purpose.  Some of the most popular are:  Kickstarter, Indiegogo, Crowdrise, Razzo,… Continue Reading Alternative Financing — Real Estate Crowdfunding