PCSD

Who did you meet with today?

Today, I met with Scott Thomas, who holds a Bachelor of Science degree in Biology and Mathematics from Georgetown University, a Master of Science degree in Cellular Biology from New York University, and a Master of Business Administration from the UCLA Anderson School of Management. Scott loves reading books in his free time, and enjoys dealing with math problems as he once was a Math teacher.

Where do they work? What does the company do?

Scott works as the Project Finance Coordinator at Blueprint, which is a non-profit organization that partners with charter schools to help give students a better opportunity with a new school or a remodeled version of it.

What did you learn today? What were some highlights?

Today I learned that the flow of money for a project–it has to go through many different steps and that it must start at a lender, then to a borrower, and finally to a vendor–as well as the different roles of a Finance Director, a Project Finance Coordinator, and a Project Manager. Some highlights consisted of tracking budget and the changes they lead to if not followed properly.

What insights did you gain into the field of real estate development?

Some insights I had were just how much budget can change throughout the process of managing a project, and that sometimes it varies if the final costs end up high or lower than expected. Also, if the budget goes over, the conversation with the client might not turn out pleasantly.

What did you find the most interesting about the field after today?

What I found most interesting about the field after today was that the original approved budget is usually never the final total at the end of the finished project.

Who did you meet with today?

Today we met with Crystal Langdon, a Managing Director of Investments at Blueprint. Her key responsibilities at Blueprint include assessing the affordability of construction projects for schools, managing a team that identifies sources of financing for school construction projects, and overseeing Blueprint’s investments in projects. Her reason for taking on this role is that she believes every child should have access to an amazing school where they are safe and loved as there has been a negative history of unequal education in the United States. Also, she believes everyone deserves an affordable home and equal housing. She has a strong belief in trying to do what’s right when something is unfair.

Where do they work? What does the company do?

Crystal works at Blueprint as the Managing Director of Investments. Blueprint is a full-service nonprofit real estate development firm that manages the aspects of site search, construction, design, and financing. This company partners with charter schools to improve learning environments and even create new ones to provide more learning opportunities for all students, regardless of their background, in various under-resourced communities.

What did you learn today? What were some highlights?

During our meeting, I learned many more concepts related to financing, expanding my knowledge of different kinds of loans, such as student, home, car, business, and payday loans. Even the basic parts of loans, like the principal, interest, and term, all play a role. I needed to remember there is less interest if more principal is paid monthly, and longer loan periods increase interest paid even if the monthly payment itself is less. A highlight was watching a clip of the movie It’s a Wonderful Life, which is a favorite for or is known to many. Another highlight was the game “Shady Sam,” which helped us think more about how the basics can come into play in real-life situations, and how loan sharks can take advantage of many when they do not understand financial concepts.

What insight did you gain into the field of real estate development?

The insight that I gained from this session into real estate development is that projects will always need to be financed. There are various basics of loans, like collateral, which can be secure or unsecured, and the interest rates that can be predictable or unpredictable. I learned how people have to manage all of this and be able to understand this for personal gain. Financing plays a very important part in real estate development as it impacts the cost of the overall project.

What did you find the most interesting about the field of real estate after today?

I found the concept of loans the most interesting in the field of real estate after today.  I did not think interest had as big of an impact as it does when getting a loan. When you want to purchase anything and take a loan, you should really pay attention to the details to ensure you are not losing money. There is a loan, most of the time, taken out when purchasing something large, and there are many parts to it that contribute to its price and how the process can work.

 

Who did you meet with today?

Today we met Mary Grace Houlihan who graduated from UC Berkeley and studied geology there.  She loves travelling and the outdoors. She enjoys working with Blueprint and working to create positive learning environments that improve education. She has a lot of experience as she has worked for land developers and worked 17 years in local government. Mary Grace is registered as a Civil Engineer and Land Surveyor in the State of California.

Where do they work? What does the company do?

Mary Grace works for Blueprint as a Project Director. Blueprint is a full-service nonprofit real estate development firm. This company partners up with charter schools to either build a new school or remodel an existing one giving many kids an opportunity to have a better education.

What did you learn today? What were some highlights?

I learned that there are many requirements to developing a property including compliance with CEQA guidelines and local codes, which I didn’t know before today. Another thing I learned was that Agency Permitting can take pretty long. Some highlights of today were that if you want to build in a community, one of the best ways is to go talk to neighbors and businesses in person.

What insights did you gain into the field of real estate development?

Some insight that I gained into the field of real estate development is that not everything goes as planned because of one of the questions asked to Mary Grace was, “Have you ever had a bad experience while doing your job?” She responded by saying that many years ago there was a lot of controversy with a project since they were making too many houses and the community voted against it.

What did you find the most interesting about the real estate field after today?

The thing that surprised me about real estate after today was that you need to have a good connection with the community. For example, if they don’t really agree with the project, they can bring up their issues. And that was really interesting to me. Now I know that you should build support from the community by reaching out to groups that are involved in that area.

Who did you meet with today?

Today we met with Gregory Hunter, Albero Beroul, Amber Merrigan, Rebecca Scalfaro, Benjamin Lewis, Shelia Mellenthin, and Morgan Parker. They provided insight into their current occupations.

Where do they work? What does the company do?

All of the experts we met work side by side at Colliers. While they all have different positions, they all get along as a big friend group, with Gregory having a lead role as Vice President, Albero being the Operations Manager, Amber stepping up as a representative for landlords and tenants, Rebecca offering herself as a backup broker and assistant for all sorts of tasks, Benjamin being one of thirteen research analysts, Sheila demonstrating her skills as Marketing Manager, and Morgan working as another competitive research analyst. Colliers serves as a top nationwide and international commercial real estate company, offering a broad range of services, including real estate brokerage, property management, capital markets, engineering, and investment management, serving property owners, occupiers, and investors.

What did you learn today? What were some highlights?

Today, we learned just how important each individual’s role is, how everyone pulls their own weight when it comes to real estate as well as how Colliers offers its services to a diverse clientele, including small businesses, schools, individuals, government agencies, and global brands. Some highlights we experienced include getting to know a part of the Colliers team and learning about each of their members’ personal hobbies and interests, as well as how their life changes guided them to where they are today.

What insight did you gain into the field of real estate development?

An insight we gained into the field of real estate is how locations influence the property’s value and development progress, and how the teamwork of brokers, data analysts, and property managers is needed to finalize deals and manage properties. We also learned about the importance of meeting with clients and seeing to their requirements.

What did you find the most interesting about the real estate field after today?

Today’s most interesting thing we learned was how important it is to pick a site, different clients change the requirements that must be met as well as how, if a broker meets with an industrial client, then they will pass that client to an industrial broker.

Photos: Alexis Melgar, Fall Intern | Jennifer Afdahl Rice, Blueprint | Colliers

Who did you meet with today?

Today, we met with Keivan Abidi, Mary Grace Houlihan, and Jennifer Afdahl Rice, who helped us understand their roles and experiences. They provided a small tour of the office building and insight into this journey.

Where do they work? What does the company do?

Keivan, Mary Grace, and Jennifer all work at the company, Blueprint. Keivan and Mary Grace have the roles of Project Directors, while Jennifer is the Executive Director. Blueprint is a full-service nonprofit real estate development firm. This company partners with charter schools to improve learning environments and even create new ones, in order to give more learning opportunities for all students of all backgrounds in different communities, mainly under-resourced ones.

What did you learn today? What were some highlights?

Today, I learned more about what we interns will be engaging in during our time with Blueprint, from the scheduling and the people we will be meeting with. A highlight was learning more about the people we met with today and even each other [the other interns] to build connections.

What insight did you gain into the field of real estate development?

Insight that I have gained into the field of real estate development is that the projects have more to them than one may think. With people in more specific fields and their teams working together, this is what ensures a successful outcome. Moreover, the development process can take a long time, taking up to 2-3 years, and it can be very costly depending on what is wanted.

What did you find the most interesting about the real estate field after today?

After today, I found it interesting how there are multiple groups of people involved in real estate development, such as the roles of the broker, investors, architects, etc. Also, I was interested in the different kinds of analysis that are done to ensure a site is feasible, taking many aspects into account to finalize the development, such as what needs to be done and its surrounding area.