Real Estate Society
The Real Estate Society ("RES" or the "Society") is a student organization that seeks to use non-curricular activities to develop an enhanced understanding of real estate development and investment. The group hosts guest speakers, conducts market research, and acts as pro bono consultants to external constituents. Under authority delegated from the Washington and Lee University Board of Trustees, the group also manages a portion of the University's endowment to make real estate investments in public equity markets. Group members are selected through a competitive annual application process.
Investment Activities and Structure
RES members manage a portion of the University's endowment for real-estate investment purposes and to gain invaluable hands-on experience and industry knowledge that cannot be learned in a classroom. Students experience all facets of making real-estate investments from developing an investment thesis, monitoring investment opportunities, conducting due-diligence, valuing investments, and realizing returns and exiting the investment.The Society is divided into the following asset-class groups:-Office/Healthcare Office REITs-Industrial/ Self-Storage REITs-Retail REITs -Residential/ Lodging REITs-Specialized/Diversified REITsRES employs a top-down investment procedure and seeks to identify companies trading below their perceived value. Asset-class teams screen for and perform in-depth financial analysis of companies whose portfolios consist of properties in the selected asset class and geographic region. The teams then present their respective potential investments to the entire Society, and the entire Society subsequently votes on whether to buy, sell, or hold the real estate equity security. RES is composed of highly motivated and qualified students that have demonstrated an interest in real estate. Two Executive Directors (who possess ultimate responsibility for the Society), one Director of Market Intelligence, one Director of Advisory Services, and one Director of Financial Analysis govern the Society with the support of Asset-Class Group Heads.
The Society currently manages ~ $1MM of the University's endowment to invest in public REITs. We intend to grow this number.
5/4/17- voted to BUY 7,330 shares of Spirit Realty Capital (SRC) at $6.80/share
5/4/17- acquired 11,375 shares of Vanguard REIT ETF (VNQ) at $81.01/share
9/29/17- voted to BUY 2,580 shares Senior Housing Properties Trust (SNH) at $19.37/share
10/6/17- voted to HOLD Government Properties Income Trust (GOV)
10/20/17- voted to BUY Tanger Factory Outlet Centers (SKT)(pending acquisition)
For the 2017-2018 school year, we meet during the D-block (12:20p-1:15p) in Huntley 221 on Fridays.