Published April 20th, 2010 by Mickey
USC Lusk Center for Real Estate Says Current Down Cycle Holds Hope for Real Estate Development Graduate Students
LOS ANGELES – While conventional wisdom might question the job prospects for graduate students entering the real estate field next spring, opportunities abound for those with the creative thinking and skillful analysis needed to make a deal work in a challenging market, according to Stan Ross, chairman of the board of the University of Southern California Lusk Center for Real Estate.
Lecturing to students in the Master of Real Estate Development (MRED) program at USC, Ross advised them to seek out companies that need help adjusting their business plans, modifying their debt strategies, enhancing cash flows and reducing loan portfolios laden with, or impacted by, subprime debt. “Companies will do more downside analysis and the whole due diligence area expands tremendously during a down cycle with more demand for marketing, leasing, finance and accounting skills,” he explained, adding that he has seen 10 real estate cycles in the past 40 years. “Many of the big real estate firms were formed during down cycles including Colony Capital, Carlyle, Whitehall and JR Roberts? they were not afraid to seize an opportunity.”
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