Spring 2017 Newsletter

The 2017-2018 school year promises to be an exciting one, with a lot of great activities planned. We look forward to working with you as we collectively build upon the UNO Real Estate legacy.

Thanks for your support! Have a great summer.

• David Beberwyk, director of outreach and education
• Dr. Steve Shultz, director of research

realestate@unomaha.edu

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Contents

• Student enrollment and practitioner support
• Research initiatives
• Students attain ARGUS Enterprise certification
• UNO Real Estate founder honored, statue dedicated
• Rho Epsilon student association update
• Honoree of the Year award
• Omaha Commercial Real Estate Summit
• Spotlights: faculty, student and young alumnus
• Save the dates: Real Estate Center seminars (free CE opportunity)

Student enrollment and practitioner support

Student interest in UNO Real Estate courses has grown drastically over the past two years, with 100+ students in our Principles and Practices classes each semester. As a result of this interest in our real estate “pipeline” class, the number of students declaring a Real Estate concentration has doubled since 2015, reaching a decade-high 71 students.

We are pleased with this renewed interest in the UNO Real Estate program, as it will enable us to better serve the real estate community by meeting the industry’s ever-increasing demand for competent real estate professionals.

We are grateful to the many real estate professionals who give their time and make the learning experience memorable for students. Thanks to the following individuals who visited our classes and Rho Epsilon during the spring semester:

Research initiatives

Director of Research Dr. Steve Shultz released a timely, impactful study during the spring semester, “Omaha single-family housing price appreciation, 2000-2016.” In case you missed it, view and download a copy of the report.

This summer, Steve is working on two projects funded by the UNO Real Estate Excellence Fund, which is supported by center benefactors (Ted Seldin, Joe Kirshenbaum and the Baright Foundation):

• “Trends in multi-family housing eviction rates in Omaha: Do property management styles play a role?”
• “The impact of the legislatively mandated band of investment approach on assessments of Low Income Housing Tax Credit (LIHTC) properties: Sarpy, Douglas, and Lancaster counties”

In the coming year, several research articles will be published in peer-reviewed journals:

• “Using assessed housing values to estimate depreciated structural replacement costs: Opportunities for natural disaster management planning” Journal of Property Tax Assessment and Administration
• “The accuracy of HAZUS general building stock data” Natural Hazards Review
• “Correcting HAZUS general building stock structural replacement cost data for single-family residences” Natural Hazards Review
• “The extent and nature of potential flood damage to commercial property structures in the Midwestern United States” (under review)
• “Physical and functional housing depreciation over time: Comparisons of assessment versus market derived estimates to improve the cost replacement approach” (under review)
• “Correcting HAZUS general building stock structural replacement cost data for commercial structures family residences” (under review)

Students attain ARGUS Enterprise certification

After much planning and work over the past year, we are pleased to announce that the UNO Real Estate Center completed its inaugural ARGUS Enterprise certification offering during spring semester. This pilot program was offered as an option for students taking Real Estate Investments (RELU 4390).

Overall, the pilot program was a resounding success: 5 students will graduate with the coveted ARGUS Enterprise Certification on their resumes.

Many thanks to Robert Celsi, who taught the Investment/ARGUS class, and congratulations to the following students for attaining the certification:

• Andrew Broyles
• Zachary Fisher
• Clayton Gibson
• Samantha Gunia
• Jackson Taylor

ARGUS is an industry standard software in commercial real estate that focuses on real estate cash flow projection, transaction analysis, and asset valuation.

UNO Real Estate founder honored, statue dedicated

A statue unveiling honoring UNO’s founding professor of real estate took place Friday, May 12, at Mammel Hall.

The Rho Epsilon real estate student association and University of Nebraska Foundation hosted the event, which included a reception and scholarship dinner in addition to the unveiling.

Situated outside the north entrance of Mammel Hall, the new statue depicts Dr. C. Glenn Lewis, who founded UNO’s real estate program in 1948. Lewis led the program for more than 20 years, including developing curriculum, teaching and establishing partnerships with local real estate organizations. He retired in 1971.

The statue was made possible by a gift from Alfred G. and Beverly A. Thomsen, both UNO alumni. The sculptor was Matthew Placzek.

Rho Epsilon student association update

The spring semester was an exciting time for Rho Epsilon — awesome guest speakers and activities as well as many first-rate opportunities to interact with the Omaha real estate community.

The semester culminated with the 52nd annual Rho Epsilon Scholarship Banquet, held on May 12 to honor UNO’s top real estate students and to dedicate a statue of C. Glenn Lewis. There were a record number of attendees (100+) at this year’s banquet.

View photos from the 52nd Annual Rho Epsilon Banquet

Scholarships

Rho Epsilon Alumni President John Bredemeyer presided over the awards ceremony, where the following UNO Real Estate students were honored with scholarships:

Sponsors

Many thanks to the Rho Epsilon sponsors who make all of the great student activities throughout the year possible:

• Alfred G. and Beverly A. Thomsen, UNO alumni
• Omaha Area Board Of Realtors
• Mark Wohar, UNO Distinguished Professor of Economics & Finance
• NAI NP Dodge
• PJ Morgan
• Greenslate Management
• Reesults Coaching School of Real Estate
• Omaha Municipal Land Bank
• Larry Saxton, Core Bank

Rho Epsilon Officers

Rho Epsilon was also fortune to have dedicated student and alumni officers in 2016-2017.

Student Officers

• President | Tyler English
• Vice President | Louis Brunning
• Secretary | Erin Howard
• Treasurer | Ryan Liberty

Alumni Officers

• President | John Bredemeyer, Realcorp Inc.
• Treasurer | Roger Porter, Q10 Daisley Ruff
• Historian | John Layman, Layman & Associates
• Publicist | Lisa Burnside, Union Pacific
• Secretary | Zach Reinhardt, Burlington Capital

Honoree of the Year

The Honoree of the Year Award is presented annually to an individual who goes above and beyond in support of students, Rho Epsilon, and UNO Real Estate.

The 2017 Honoree of the Year is Doug Rotthaus, CEO of the Omaha Area Board of Realtors.

Doug received his award at the Rho Epsilon banquet on May 12. Congratulations, Doug, and thank you for all you do for UNO Real Estate.

Doug Rotthaus

Omaha Commercial Real Estate Summit

On March 24, more than 20 students attended the annual Commercial Real Estate Summit, held at the CenturyLink Center in downtown Omaha. This year’s summit theme was “A Changing Playbook,” and the event attracted a record-setting 800+ members from the Omaha real estate community.

Throughout the day, UNO students attended targeted breakout sessions to enhance their real estate knowledge and obtained a snapshot of what’s going on in the Omaha real estate market. They also had the opportunity to network with leaders in the Omaha commercial real estate community.

Six years ago, CRE Summit founder Jerry Slusky — partner at Smith, Slusky, Pohren & Rogers and a UNO alumnus — invited UNO students to the event, offering a greatly discounted rate to attend ($25 vs. $260). This strategy has clearly worked to the benefit of students, and the UNO Real Estate Center is grateful to Jerry Slusky and the CRE planning committee for their efforts to include UNO.

Spotlights

Faculty

Andrew Biehl has taught Commercial Real Estate Finance (RELU 4460) for three years. He has also been involved in numerous activities within the College of Business Administration, including Rho Epsilon, Real Estate Advisory Board, and Finance-Banking Advisory Board.

In his day job, Andrew is an associate attorney with Walentine O'Toole McQuillan & Gordon LLP, where he is a member of the firm’s banking and commercial practice group. He specializes in complex business and banking transactions, regulatory matters, commercial litigation, foreclosures, and Chapter 7, 11, 12 and 13 bankruptcy proceedings, including adversary bankruptcy proceedings.

As an attorney and former commercial loan officer, Andrew brings invaluable experience and insights to the classroom. We are grateful for his contributions.

Andrew Biehl

Student

A life-long Omahan, Ryan Liberty has had a strong interest in property management and real estate investing since taking his first real estate class sophomore year.

He is very active in extracurricular activities and has served as a CBA student senator, Phi Kappa Alpha council delegate, and Rho Epsilon social chair and treasurer. He is the newly elected 2017-2018 Rho Epsilon president and has great plans for the organization’s future.

Ryan has also interned at PJ Morgan for the past two years and has garnered valuable commercial and residential property management and brokerage experience. He plans to continue on this path after graduation and is on track to obtain his real estate license soon.

In his free time, Ryan enjoys hiking and spending time with family and friends in the great outdoors.

Ryan Liberty

Young Alumnus

Zach Reinhardt is a 2014 graduate and currently works as a real property financial analyst for Burlington Capital in Omaha. Despite his recent grad status, Zach has amassed an incredible amount of experience over the past five years, working as a credit analyst at a commercial bank and interning with real estate development and appraisal companies while in school.

In addition to his professional accomplishments, Zach is very active in the community, serving on the Commercial Real Estate Summit Planning Committee and as the alumni secretary of Rho Epsilon. He is also a regular speaker in UNO Real Estate classes and mentors students on how to succeed in school and career.

We are proud of Zach’s accomplishments and grateful that he gives back to UNO students.

Zach Reinhardt

Save the Dates: August 25 & September 15

Friday, August 25: Real Property Analytics Seminar

The Real Estate Center is partnering with the Nebraska Real Property Appraisal Board to host a day-long real estate valuation analytics seminar from a renowned national speaker.

The seminar will educate practitioners on analysis tools available and provide practical steps to improve their businesses. Licensed attendees will earn continuing education (CE) credit for this free event (real estate, 6 CE credits; appraisal, 7 CE credits).

UNO students and faculty members are encouraged to attend. More to follow soon on this exciting event.

Friday, September 15: Real Property Analytics Seminar

The Real Estate Center will be presenting a short seminar on Omaha-centric real estate research at UNO:

“Trends in multi-family housing eviction rates in Omaha: Do property management styles play a role?”

“The impact of the legislatively-mandated band of investment approach on assessments of Low Income Housing Tax Credit (LIHTC) properties: Sarpy, Douglas, and Lancaster Counties”

We hope you’ll join us for these timely and relevant discussions about the local real estate market.

Additional details about this event are forthcoming. If you are interested in learning more about these topics or other research areas at the Real Estate Center, email realestate@unomaha.edu.