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The Commercial Real Estate Finance Council (CREFC) and the Schack Institute of Real Estate at the NYU School of Professional Studies (NYU SPS) partnered together to create the CREFC Center for Real Estate Finance at the Schack Institute. The Center will serve as a hub for industry collaboration on research initiatives, novel programming, and student engagement. The venture is supported by an endowment gift to NYU from CREFC shared at the its January 2020 conference.
  
In addition to student scholarships, programming during the upcoming academic year includes an industry-leading certificate program for CREFC members, standalone courses responsive to current market conditions, and a research paper series with contributions from faculty and CREFC Industry Fellows. The Center’s inaugural research symposium, which will serve as a premier information-sharing endeavor, is planned for Summer 2021.

 “The Center will convene members of academia and industry in addressing issues of critical importance for the commercial real estate finance sector,” said Lisa Pendergast, CREFC’s Executive Director. “Educating the next generation of commercial real estate finance professionals and providing cutting edge content and research are issues we take very seriously, and we could not think of a better partnership than NYU’s Schack Institute of Real Estate. On behalf of myself and CREFC’s Board of Governors, we are steadfast in our support of this endeavor and we are confident this program will make great strides in helping more women and underrepresented minorities enter the pipeline of students we are able to recruit to the industry sector."

“We are excited for this opportunity to deepen our long-term partnership with one of the real estate industry’s leading trade associations and are grateful to CREFC’s members for their leadership gift,” added Sam Chandan, Larry & Klara Silverstein Chair in Real Estate Development and Investment at Schack. “The Center’s collaborative approach to applied research will support the industry while providing important guidance for regulators and policymakers.”

About the Schack Institute of Real Estate
For more than 50 years, the Schack Institute of Real Estate has been at the forefront of real estate education and is recognized globally as one of the world’s leading centers of real estate research and pedagogy.
  
Across the Institute’s graduate degree programs—the MS in Real Estate, the MS in Construction Management, and the MS in Real Estate Development—as well as a rapidly expanding undergraduate degree program, enrollment has grown to more than 700 full- and part-time students from across the United States and nearly 50 other countries. In addition to its flagship degree programs, thousands of working professionals enroll in the Schack Institute’s executive education and career advancement programs each year. 
  
An anchor of real estate academia’s engagement with industry, the Institute is home to the REIT Center, the Center for the Sustainable Built Environment, and the recently established Urban Lab. In addition, the Institute hosts global industry events, including annual conferences on real estate capital markets, the REIT sector, and women in real estate. Under the direction of the Schack Institute’s faculty, ongoing applied research at the Institute spans an exceptional range of issues in real estate development and investment, urban economics, and market structure and regulation.

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