Center for Real Estate Finance Welcomes NRDC to Industry Fellows Program

Jan 19, 2011

Contact:  Jane Henion, 607.255.9780, jmh222@cornell.edu

The Center for Real Estate Finance (CREF) at the Cornell School of Hotel Administration announced that leading commercial real estate owner/developer and management firm National Realty & Development Corporation (NRDC) has joined the CREF Industry Fellows program.

"Thanks to the resources provided by our Industry Fellows, CREF continues to excel at real estate research and education," said Jan deRoos, HVS International Professor of Finance and Real Estate and executive director of CREF. "NRDC has been a longtime supporter of real estate studies at the School of Hotel Administration; we're excited to welcome the company to the Industry Fellows program."

NRDC has amassed a portfolio in excess of 22 million square feet, which includes over 147 projects consisting of shopping centers, corporate business centers, and residential communities. Among the company's tenants are prominent brands such as Walmart, Target, Kohl's Department Store, Lowe's Home Improvement Center, Toys "R" Us, The Home Depot, Sears, Best Buy, A&P, Staples, C&S Wholesale Grocers, Supervalu, TJX Companies, and Nabisco.

"We are thrilled to be partnering with CREF. As an alumnus of the School of Hotel Administration, I have had the opportunity to work with students in the real estate program, and I am looking forward to finding more ways to connect with these young scholars," said Richard Baker, who will represent NRDC at meetings of the CREF Industry Fellows. Baker is chairman of Lord & Taylor; governor of Hudson's Bay Company; CEO of Hudson's Bay Trading Company; chairman of ROIC, a publicly-traded retail REIT; and president and CEO of NRDC Equity Partners. He serves on the Dean's Advisory Board at the School of Hotel Administration.

The CREF Industry Fellows program is the cornerstone of the center's outreach efforts. The program helps fund the annual Cornell Real Estate Case Competition, seminars on current industry topics, student travel to real estate investment conferences, as well as faculty research. The next meeting of the Industry Fellows will be held in January during the Americas Lodging Investment Summit in San Diego.