News:
Brokerage
Posted: May 23, 2013
ICSC Foundation receives $1 million Simon bequest
ICSC's Foundation was given an additional reason to celebrate at its 25th Anniversary Gala Dinner - a $1 million gift from the estate of the late Melvin Simon.
Simon, who founded Melvin Simon & Associates in 1960 with his brothers Herbert and Fred Simon, died in 2009 at age 82. The company became Simon Property Group in 1993 when it went public, in what was at the time the largest REIT IPO ever. Its chairman and CEO today is Melvin Simon's son, David, who attended the dinner along with other senior Simon executives.
"Thanks to the generosity of Melvin Simon of the $1 million gift, we are kicking off a $5 million capital campaign for the ICSC Foundation," said Kieran Quinn, chairman of the ICSC Foundation, addressing the guests at the event, which took place at the Bellagio Hotel in Las Vegas. Quinn is managing director of Guggenheim Commercial Real Estate Finance, LLC, Atlanta. "As a first step, we will be doubling the size of our undergraduate scholarship fund."
The foundation provides educational scholarships and supports a range of other educational activities to promote expertise in tomorrow's retail real estate industry.
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Columns and Thought Leadership
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.