Making History in Milwaukee

ACRE breaks barriers

A range of partnerships is crucial to helping ACRE break barriers. Applicants passing a skills test are selected with the help of community partners, who also assist with recruiting and attend networking events. Through one community partner, the Wisconsin Housing and Economic Development Authority, several mentorships enable students to shadow commercial real estate professionals.

As an association partner, the Milwaukee chapter of the Institute for Real Estate Management pays for students' books and offers networking opportunities. (The local chapter recently won a top national honor, in part for its ACRE contributions.) Marquette University provides a classroom and administrative support, and Eppli oversees ACRE pro bono.

Adding an invaluable real-world component, senior officials from six industry partners teach the program, tailoring instruction to Milwaukee-area development opportunities and challenges. Current partners are Gorman and Company Inc., Irgens Development Partners LLC, American Appraisal Associates, The Jansen Group Inc, The Polacheck Co. and Continental Properties Company Inc.

"Teaching students was one of the most gratifying things I've done in years,” says Mandel, who taught in the first ACRE session. “It was inspiring and a privilege to interact with so many conscientious and interested students and in a small way be part of their lives. I couldn't get enough time with them.”

Industry partners play other key roles, including mentoring, networking and providing one-year paid ($30,000-$35,000) internships to the top six students. (Those already working professionally in commercial real estate are ineligible for internships.) In an industry that is 85 percent closely held and shielded from social integration pressures, the internships are crucial. "It was valuable because it allowed me to get my foot in the door,” says Phelps of the internship. “That allowed me to prove myself and get the full-time position I now have.”

Citywide networking events, including sessions sponsored by industry partners and attended by many of the 200 Bell Chair advisers and real estate professionals, have proven especially beneficial. Munching on hors d'oeuvres and sipping chilled beverages, students mingle with industry moguls and community leaders to explore career opportunities in real estate investment, development, property management, finance and other occupations.

Networking is key

"Networking is really important because commercial real estate is a highly fragmented industry that's also very local and difficult to penetrate,” Eppli says. “As a result, even Donald Trump wouldn't do well in Milwaukee because he doesn't have the networking and contacts.”

Informal, chance networking opportunities often arise. Eppli recalls when an ACRE class toured an intriguing inner-city property. Later, a smaller group of students was so captivated they contacted the property manager, who treated them to more industry tools and tricks during a two-hour second visit.

"It's hard to put a value on the access gained by networking,” adds Wright, “but it is extremely valuable. It's not just access to things but to people, which leads to opportunities. And those opportunities will grow the more you nurture the networking that's provided.”

While the program is still young, ACRE is already a blossoming success story. Two graduates have converted their internships into full-time employment and several others have accepted job offers. Some have also launched their own commercial real estate enterprises. After three years, it's anticipated 20 or more minorities will be working in the industry.

Kathryn Dunn, community investment officer with the Bader Foundation, calls the seed money the organization provided “one of our more successful grants.” The program is embraced among minorities and Milwaukee commercial real estate professionals. And there is even preliminary discussion about expanding the program model to other industries.

As far as many are concerned, ACRE can also be considered a triumph because it illustrates Marquette's commitment to diversity. “A big part of a Jesuit education is giving back and ACRE is one way the university is giving back to our urban community,” Eppli says. “It's important to have an institution recognized as a leader on diversity issues and to reach out to those in our backyard.”

Wright agrees: “The program speaks volumes about Marquette. I'm a big supporter of the program and very excited about what it can accomplish.”