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New name reflects expanded offerings to support students, local real estate community.

LAS VEGAS – July 9, 2020 – An institute housed within UNLV’s Lee Business School dedicated to real estate education and research is getting a new name to reflect its recent growth and expansion.

The Lied Institute for Real Estate Studies is now the Lied Center for Real Estate, a change that mirrors its expanded support to students in and out of the classroom, and increased offerings and research for the local real estate community.

“We are proud of how we have grown over the last few years to provide more support for our students and resources for the community,” said Vivek Sah, director of the Lied Center for Real Estate. “The name change is a reflection of the work we have been doing for some time, and also aligns us with real estate centers at other universities across the country with similar missions.”

Within the past year, the center launched a new Nevada Housing Market Sentiment Report and revived its Apartment Market Trends Report, a quarterly publication that provides detailed analysis of the multi-family sector using data from more than 600 apartment complexes and more than 150,000 units across Southern Nevada.

The center also provides original analysis of Nevada’s housing market through its monthly housing market report, and professional development opportunities like its annual real estate conferences that brings together nationally recognized real estate experts. The center has also restructured its professional advisory board to include leaders from the local real estate community.

The center will continue to manage and support the educational offerings in real estate for the university. These include a Bachelor of Science degree in business administration with a major and minor in real estate. Additional opportunities for students offered by the center include a recently expanded mentorship program, the student-led Real Estate Club, and an exclusive annual real estate career expo. The center also coordinates scholarship opportunities for students studying real estate as well as internship and job opportunities.

About the Lied Center for Real Estate
The Lied Center for Real Estate (Formerly Lied Institute for Real Estate Studies) was established in 1989 by the Lee Business School at the University of Nevada, Las Vegas to foster excellence in real estate education and research. The center was endowed in 1991 through a generous gift and a challenge grant from the Ernest F. Lied Foundation Trust. The center produces relevant and timely real estate research, supports educational programs in real estate for students and professionals, and provides community outreach. Learn more at https://liedcenter.unlv.edu/

About Lee Business School
Established in 1967 as the College of Business, the now Lee Business School is one of the largest schools at UNLV with approximately 3,500 undergraduate students, 500 graduate students, and 100 faculty and staff and offers the only accredited business program in Southern Nevada. The school offers ten undergraduate majors, 14 minors and five graduate degrees, including the MBA and Executive MBA programs. Lee Business School is among the top 5 percent of business colleges and schools worldwide to hold international dual accreditation in business and accounting by the Association to Advance Collegiate Schools of Business, the premier accrediting body for business and management education. In addition to its scholastic endeavors, Lee Business School is home to three centers that bring together faculty and students with business and industry. These include the Troesh Center for Entrepreneurship and Innovation, Center for Business and Economic Research (CBER), and Lied Center for Real Estate. With more than 20,000 graduates, the Lee Business School Alumni Chapter is one of the largest alumni chapters on campus.

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Real estate was not the industry I expected to launch a career in when I signed up for my first class, three years into a bachelor’s in finance from the Lee Business School, with Wall Street ambitions fueling late nights in the Lied Library. I was interested in growing my knowledge base and the introductory class supplemented my investment banking curriculum. That semester, under the tutelage of Dr. Vivek Sah, Director of the Lied Institute for Real Estate Studies, I developed an understanding of commercial real estate and became convinced of its central role in the future of our economy.

On the last day of class, Dr. Sah suggested that I enroll in the finance internship program as a senior. He offered to introduce me to a company that would support my studies, and that summer, I met Randy Norton, Chairman of the Board at MultiGreen Properties, a real estate operating company set to launch in January 2020 – the coming year. MultiGreen’s vision, to build 40,000 multifamily units by 2030 and become a global leader in sustainable entry-level housing, piqued my interest in impact investing. Founded on the United Nations’ Principles for Responsible Investment, MultiGreen committed to fulfilling 13 of the U.N.’s 17 Sustainable Development Goals. I felt connected to the company’s priorities. After the 07-08 housing crisis, my parents feared foreclosure, and for the families of many friends, the cost of housing became too great a burden. Today, a shortage of affordable multifamily housing has become the new concern, with a growing 20 million American households devoting over 30% of their income to rent ^[1].

During my last semester, my internship with MultiGreen was an accelerated course in mindful investing and the trends of U.S. multifamily markets. As my knowledge grew, so did my passion for the subject, and my hunger to amend a social plight that I’d only peripherally understood. With graduation weeks away, I received a job offer from a company that I was excited to be a part of.

It was an opportunity I would have missed without faculty guidance, and it’s a testament to the Lied Institute’s outreach with our local businesses. I strongly encourage my peers to learn more about the internships available to them through the Lee Business School, and to join the UNLV Real Estate Club to learn more about the field’s rewarding careers.

— Vincent P. Badalamenti

About MultiGreen
MultiGreen Properties, LLC, is a real estate operating company headquartered in Henderson, Nevada. MultiGreen is a joint venture between Green Mesa Capital and i(x) investments, and was founded by three principals: Randy Norton, Alex Prokhorov, and Brad Mertz. MultiGreen launched from Davos, Switzerland, on January 20, 2020 and specializes in the ground-up construction of attainable housing and the neighbor experiences provided from Building-as-a-Service (BaaS). Visit us at www.multi.green.

[1] Bousquin, J. (2020, January 27). “Answering the Demand for Attainable Apartments (Without Subsidies).” National Apartment Association. Retrieved from https://www.naahq.org/news-publications/units/february-2020/article/answering-demand-attainable-apartments-without

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