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