A New Vision for AREC
Not all student groups are created equal, at least not as far as Cornell’s Associate Real Estate Council (AREC) is concerned. AREC is a student-run real estate organization committed to enhancing Cornell’s presence in the real estate industry and providing its members with educational, networking and career development opportunities. The group is affiliated with the 1000+ member Cornell Real Estate Council and consists of large number of PRE students.
AREC is led by Co-Presidents Tim Shaughnessy (PRE ’12) and Dylan Fonseca (PRE/MBA ’13), together with the rest of their leadership team, which consists of Jonathan Metelus (MBA ’12), Michael Majestic (MBA ’12), Dan Sax (PRE ’12), Mauricio Lopez (MBA ’12), Brandon Jacobsen (PRE/MBA ’12), Tristan Last (MBA ’12) and David Shlomi (PRE ’12).
AREC has devised an ambitious vision for itself - to become the leading student-run real estate organization. The AREC leadership team is quickly realizing that vision, implementing several strategic initiatives that have quickly transformed AREC into one of the most dynamic student groups at Cornell. When asked about the kind of legacy that AREC would like to have, Shaughnessy said that the leadership team would like AREC to be “a place for thought leadership at the level of Cornell. We have the top ranked hospitality and architecture programs, top of the table business and law schools and one of the best and most comprehensive real estate masters programs in the country, so the talent is definitely here. AREC exposes its members to all aspects and stages of the development process and connects its members with their future industry peers.”
AREC membership is open not only to PRE students, but to all graduate and undergraduate Cornell students with a passion for real estate and a commitment to professional development. Non-PRE students benefit from an intensive real estate focus that they would not enjoy absent their AREC experience. AREC currently includes members from the Johnson MBA program, the City and Regional Planning program, the Statler School of Hotel Administration and the school of Architecture Art & Planning. In addition to the diversity of its membership, one of the key features distinguishing AREC from other student groups is that its members are expected to join and participate in AREC on a lifetime basis, both as current students and thereafter as Cornell alumni. AREC is currently assembling an advisory board and is seeking industry professionals to fill board seats.
One of AREC’s signature programs is a series of career treks that the group regularly participates in. Career treks are designed to provide students with the opportunity to meet industry leaders and gain first hand exposure to a variety of real estate companies and industry roles. Last year, the group travelled to Washington D.C., where they participated in a number of rewarding career development and networking experiences. This year, AREC plans to organize its first international career trek by travelling to Brazil for a week-long exposure to one of the most exciting real estate markets and economies in the world. Other treks this year will include Boston, Chicago, New York City and booming Toronto, Canada where Presiding Officer Dan Sax will help to familiarize the group with his hometown.
In addition to career treks, AREC provides its members with the opportunity to participate in a variety of career development programs, including a series of career development workshops, AREC’s speaker series, national real estate competitions and Cornell Real Estate Council meetings. AREC regularly attracts top level speakers, for example Frank Apeseche, CEO of Berkshire Property Group, Jacie Stivers of Commercial Investment Real Estate Inc. and Bill Ackman of Pershing Square Capital Management. This year’s speaker series schedule includes Vernon Chi, Senior VP of Wells Fargo and Evan Goldman, VP of Development for Federal Realty Investment Trust.
AREC also provides its members with the opportunity to develop the skills that are crucial to their marketability as job candidates and their success as real estate professionals through special learning seminars focusing on topics such as of Argus software and financial modeling. AREC actively encourages its members to propose any programs and membership benefits that will add to AREC members’ skill-set and assist them in succeeding on a long-term basis in the real estate industry.
Last week, AREC travelled to New York City to participate in Cornell’s Annual Real Estate Conference, where they hosted a networking cocktail party at the Waldorf Astoria. The group will soon travel to Los Angeles for a west coast career trek and forum with other real estate clubs and programs after the ULI Fall Meeting on October 26th to 28th.
AREC also knows how to have fun, regularly incorporating social events into their programming calendar. So far this year the group has hosted a bowling night, long drive competition and a tequila tasting event.
For more information regarding AREC or to register as a member, please visit the group’s website at www.realestate.cornell.edu/arec or contact Co-Presidents Tim Shaughnessy (tcs82@cornell.edu) or Dylan Fonseca (dff29@cornell.edu).