Fall 2022 REO Industry Trip

On Wednesday, November 9th, seventeen (17) members of the Texas Tech University Real Estate Organization (REO) and sixteen (16) members of the Rawls Banking Association (RBA) headed to Dallas for their Fall 2022 industry trips. Professor Mike Mauldin , Professor Carl Pankratz , Professor Jared H. and Whitnie Hill, M. Ed. joined the students. Over three (3) days, these students from the Texas Tech University - Rawls College of Business met with a variety of real estate firms and capital providers, networked with Texas Tech alumni and supporters, and learned about careers in commercial real estate. Despite a busy schedule, they also managed to have a generous amount of fun and create memories that will last a lifetime.

Their first stop was First Financial Bank Texas in Abilene. The entire group of thirty-three (33) students heard from Scott Dueser , Chairman and CEO,?about his background and banking career. Scott spoke about the importance of integrity, professionalism, and generosity. Several First Bank employees, including Kasey Birchfield Nixon , gave the students a comprehensive tour of the bank's headquarters and operations. First Financial was an ideal way to start the trip, given that real estate and banking are complementary industries. Although the bank tour and discussions were fantastic, the most memorable aspect of the stop in Abilene may have been the reception and dinner with multiple First Financial employees at the Perini Ranch Steakhouse!

After leaving Abilene early Thursday morning, REO and RBA headed their separate ways in Dallas. REO's first stop was Stream Realty Partners where Ryan Evanich gave an in-depth look at one of Stream's newest (and most impressive) development projects. 'The Quad' is a mixed-use site currently under development by Stream. This re-imagination of the Quadrangle (a notable area in Uptown) will contain a state-of-the-art smart building with space for offices, restaurants, expansive greenery, and multiple levels of underground parking. During Ryan's presentation, the group got a live look at construction operations right outside the window. The students left with a better understanding of the sheer size, scope, and scale of this impressive development project.

REO's second stop on Thursday was the HALL Group , where the students participated in a discussion with Kim Butler , Mallory Adams , and Urbashi Mukherjee. Kim shared insights into the history of the Hall Group, the projects they undertake, and their role in the capital market. Mallory and Urbashi gave an overview of Hall's structured finance investments and the group discussed the Hall Park development in Frisco. The visit to Hall was a tremendous learning opportunity for the students that helped them understand the company's investment perspectives.?

Next on the REO itinerary was Woodbine Development Corporation . The group met with King Scovell and Alexis Martinez who started off the visit with a tour of their new office space. After the tour, King and Alexis discussed how Woodbine was founded and answered extensive student questions. Woodbine provided each student with a copy of The Real Estate Playbook, a guide to dealing with some of the problems that their company has encountered. The students walked away from Woodbine with an appreciation of their commitment to encouraging the next generation of commercial real estate professionals.

Continuing their busy day, the REO group then walked back over Woodall Rogers to Ross Tower for a meeting with Pryor Blackwell of Bandera Ventures . Pryor had the group (literally) on the edge of their seats as he shared his inspiring career journey and gave advice on what it takes to succeed in the commercial real estate industry.

The last stop on Thursday was 仲量联行 , a "must-see" on a Texas Tech industry trip to Dallas. Andrew Taguwa started the presentation by giving insight into his day-to-day responsibilities as a tenant representative. Cory Fowler spoke about his capital markets role at JLL and gave an overview of common capital structures. John Brownlee tied the topics together and led a Q&A session along with Mark Brandenburg , Chris Wright , Greyson Fewin , and David Rivero . This gave the students an opportunity to "talk shop" with industry professionals about local market trends, performances of various asset classes, and macroeconomic outlooks. JLL’s visit fostered many questions coving the wide range of roles that JLL plays in the global real estate market.?

To end the day, REO members were invited to a Texas Tech real estate alumni happy hour sponsored by Moody Younger of Younger Partners and Kyle Jacobs of Rubicon Representation . This event allowed students to relax in a casual setting and interact with professionals they met earlier in the day, other local Texas Tech alumni, and potential employers. After a long day, REO met back up with RBA for a late dinner at El Fenix.

To start day three (3) on Friday, REO traveled up to The Star in Frisco to meet with Madera Residential . The Madera team, including Tina Welch , Kelsey Davis , and Thanh Tran , went through case studies of properties that had traded recently. These case studies covered a range of multifamily markets for the group to dissect. Madera was a fantastic host and provided a welcoming atmosphere, a conversational meeting, and answers to every single one of the students' questions.

After Madera, all thirty-three (33) REO and RBA joined together for two (2) final visits. At BBG Inc. , a valuation and assessment services firm, the students heard from Chris Roach, MAI, CCIM about his career journey, his optimism about the appraisal profession, and his enthusiasm for BBG. Chris and his colleagues inspired the group with personal testimonies and company metrics that highlighted the strengths of the firm. Marvin Jones gave an overview of their ground-breaking new training program, BBG University, which provides the in-depth training necessary to become a successful commercial real estate appraiser.

The final industry stop for the group of thirty-three (33) was at Northmarq . Kirsten Evans , a recent graduate and former REO President, started the meeting with an overview of the company and their service lines. Jayson Donaldson spoke to the group about his work on Fannie Mae and FHA platforms and highlighted a few of his recent, unique deals. Charles Hubbard , Deon Green , and Chase Kochwelp spoke about investment sales, debt and equity services, and loan servicing. The entire meeting was engaging for both the REO and RBA students, as Northmarq's lending operations covered elements of both banking and commercial real estate.

After their visit to Northmarq, the group loaded the bus for one last stop before returning to Lubbock. On their way out of Dallas, the REO and RBA students (and their bus driver) joined Tosha Riddle-May and students from the SMU Cox - Folsom Institute for Real Estate for a tour of the American Airlines Center. Dave Brown presented an overview of the operations of one of the nation's busiest arenas and then gave a "behind the scenes" tour of the Mav's’ practice court and locker room. A huge thank you to Tucker Wells of Adventures in CRE (A.CRE) for organizing this incredible experience!

REO would like to express its gratitude to Jim Holcomb of Holcomb Properties for his generous sponsorship of the industry trip. It was an invaluable learning and networking experience for each of the REO and RBA members that attended.

This article was co-authored by Grant Fleming , 2022-23 REO President.