Skip to main content

Wisconsin Real Estate Program Update 2026

By Angelo Karlo Alfaro

March 19, 2026

Jacques Gordon
Director
Graaskamp Center for Real Estate

Message from the Center Director

The view from campus this time of year is filled with variety. We had fifteen inches of snow on the eve of St. Patrick’s Day.  The week before, we had a warm spring day and crocuses started to appear on Bascom Hill.  Likewise, the students looked sharp for the highly successful Career Fair on February 25th.  The job market has picked up compared to last year, and many May grads already have found terrific placements, while others are getting callbacks for interviews.  Yet, when I brought a visitor to the Private Equity class last week, students were back to their usual ultra-casual dress.   Last week the Graaskamp Center was packed with students trying to log time with our tutors.  This week, with mid-terms behind them, no students are in sight and the tutors have no one to talk to but each other.

Despite the natural ebb and flow of activity during each week, the semester-long momentum across the Wisconsin Real Estate Program is palpable. What stands out most is the loyalty of our alumni, the dedication of our faculty and staff, and the energy our students bring to everything we do. I feel fortunate to play a role in building bridges that connect these groups together.

The Wisconsin Real Estate Program has long been defined by the strength of its community. Our alumni are not just supporters of the program, they are partners. From guest lectures and industry panels to mentoring students and hosting field trips across the country, alumni engagement is what makes the Wisconsin program distinctive.

Our students are quick to take advantage of these opportunities to expand their knowledge and grow their professional networks. With learning that extends well beyond the classroom, these experiences play an important role in preparing the next generation of real estate leaders. The program also continues to receive strong national recognition, including being ranked the #1 Undergraduate Real Estate Program by U.S. News & World Report for the fourth consecutive year, while our Real Estate MBA program is ranked #6.

We are pleased to share a few highlights and updates from across the Wisconsin Real Estate Program:

Enrollment:  Enrollment across the program remains exceptionally strong, with approximately 750 students currently enrolled:

  • 662 undergraduate real estate majors
  • 76 graduate students, including
    • 44 MS in Real Estate students
    • 22 Real Estate MBA students
    • 10 Global Real Estate Master’s students
  • 12 PhD students

Student Applied Learning and Industry Engagement: Applied and experiential learning remains central to the Wisconsin approach and are in high gear.

  • Case competitions: By the end of the academic year, Wisconsin teams will have competed in eight national real estate competitions, including those hosted by UT Austin, UNC, NYU, Florida State, Harrison Street, Marquette, NAIOP, and ARGUS.
  • Wisconsin Real Estate Club: The Club recently hosted another successful Spring Real Estate Career Fair, welcoming more than 300 students and 34 leading real estate employers to campus. Employers consistently remark on the professionalism, preparation and curiosity of our students as they pursue internships and full-time roles across the industry.


The Club also traveled to Washington, DC this week – the agenda included a WREAA Happy Hour with DC alumni and meetings with Cushman & Wakefield, Amazon HQ2, JLL, and others. These REC trips would not be possible without the support of our dedicated alumni who host our students and help shape the trip agenda.

  • Field Trips: By the end of the 2026 academic year, our students will have participated in almost 10 field trips where they have the opportunity to tour development projects and meet with industry leaders.  Some of our tour/field trip locations include Madison, Chicago, Milwaukee, Washington DC, New York City, Paris and London. We are fortunate to have a Student Experiential Learning Fund endowed by the late Jim Curtis (MS ’76) to help fund these activities.
  • Real Estate in Rome: We also launched the new Real Estate in Rome Program, allowing WSB students to complete core real estate coursework while spending a semester abroad in one of the world’s most historically rich cities. With nearly 65% of Wisconsin real estate students studying abroad during their academic careers, this program expands our global learning model. Planning for the Spring 2027 Rome semester is already underway with 25 students enrolled.
  • Industry Guests in the classroom: One of the hallmarks of the Wisconsin Real Estate Program is the deep involvement of industry professionals in our curriculum. During the Fall 2025 semester alone, we welcomed 72 guest speakers, and 26 speakers have already participated as of March 1, most of them alumni.  Read the article.
  • Artificial Intelligence in Real Estate Surveys and Article:  The Graaskamp Center also recently conducted surveys of students, faculty, and alumni examining how artificial intelligence is being used in both the classroom and the workplace, with a summary article released this month highlighting key findings. A consistent theme across the surveys is that AI is becoming a baseline skill, not a substitute for expertise. AI fluency will increasingly sit alongside financial modeling, market analysis, and relationship-building as a core competency. Read the article.

Scholarships and Achievements

  • With the help of WREAA’s $100,000 matching gift, the Building Bright Futures Real Estate Student Scholarship Campaign has reached approximately 70% of its $1M fundraising goal but we need your support to get across the finish line.  Every contribution, no matter the size, creates life-changing opportunities for students and sustains the Wisconsin tradition of excellence. Make your gift here and help us build a brighter future for Wisconsin Real Estate: https://lnkd.in/g8igzBfz.  These reminders will keep coming, until we reach our goal!
  • Student Achievements: Our students continue to earn recognition across the industry – for example, five real estate students recently received grants from ICSC to attend the organization’s national conference in Las Vegas; and five students were selected as Ferguson Fellows, chosen from more than 150 applicants for their leadership potential and commitment to the industry.
  • Community First® Developer Program Grant: We are also proud to share that the Affordable and Sustainable Housing Development (ASHD) Graduate Track has received a Community First® Developer Program Grant from the Federal Home Loan Bank of Chicago. The grant provides funding for students to work in the field of affordable and sustainable housing. The program’s first two UW Housing Scholars, Connor Nowakowski (MBA ’27) and Anders Brekke (MS ’26), are already gaining hands-on experience with Madison-area housing organizations.


Faculty and Staff Updates

  • We are pleased to welcome two new faculty members who will join the Department of Real Estate in Fall 2026. Both bring relevant research agendas that further strengthen our program’s academic leadership.
    • Sean Flynn, assistant professor from Cornell University. His research is focused on real estate, corporate finance, financial institutions and financial regulation.
    • So Hye Yoon, assistant professor from Princeton University.  Her current research focuses on real estate and urban economics, AI, digital economics, industry organization and finance.
  • Jon Lulu recently joined us as Associate Director at the Graaskamp. Jon brings more than 30 years of institutional real estate investment experience. Jon will play an important role mentoring graduate students and strengthening connections between classroom learning and industry practice.  He replaced Greg Reed, who retired after six years of esteemed service.
  • We are hiring!  We are also recruiting a new Director/Teaching Faculty member for the Applied Real Estate Investment Track (AREIT), where students manage a live $2 million REIT portfolio. This role involves teaching, mentoring and connecting with the industry AREIT Board. If you know of a qualified industry professional interested in this role, please contact Jacques Gordon for more information.

Looking Ahead: We host many industry outreach events that together professionals and thought leaders.

  • On March 19th, we will present the Graaskamp Innovator Award to alumnus David Lenz, Founder of NCG Hospitality. Dave and his family have long been generous supporters of the Wisconsin Real Estate Program and we are honored to recognize his leadership and the company’s continued success.
  • On March 20th in Hong Kong, we are proud to partner with the Hong Kong University of Science and Technology to bring together researchers for a Workshop on Climate Risk, Sustainability, and Real Estate.  Organized by faculty from both institutions, the program highlights the power of international academic partnerships to spark new insights in real estate, sustainability and global capital markets. Organized by Wisconsin Real Estate faculty Lu Han and Chris Timmins; and Mengze Shi from HKUST.
  • We are also looking forward to welcoming alumni, board members, and students to Chicago on April 16–17 for the Graaskamp Spring Board Conference, featuring keynote presentations from:
    • Karen Murphy, COO and EVP of Stadium Development for the Chicago Bears and a WSB alum
    • Emi Adachi, Managing Director and Co-Head of Global Investment Research at Heitman
  • We also have insightful panels moderated by Fred Cooper, Kevin Brennan, and Beth Rosen and the faculty will also be in attendance to help lead lunchtime table discussions on topics of interest to all.
    • Our Graaskamp on the Road event in Minneapolis will feature industry leader Pat Ryan, Chairman of the Board of the Ryan Companies, on May 1st. Minneapolis WREAA members are invited to attend.
    • On May 31-June 1, we’ll be hosting the PhD Real Estate Alumni Conference on campus as part of the WSB’s 150’s anniversary celebration.

Thank You for Your Support!

Finally, I want to extend my sincere thanks to our loyal alumni. Your engagement, mentorship and generosity are essential to the strength of the Wisconsin Real Estate Program and make it possible for us to deliver a world-class educational experience. Combined with the hard work, talent and drive of our students and faculty, this partnership creates a fantastic community. Together, we form a network that not only strengthens the program but also helps launch and support the next generation of leaders in the real estate industry.