The University of San Diego recently celebrated the evening dedication of the new Burnham Moores Center for Real Estate, one of only about a dozen U.S. universities that offer wide-ranging master's degrees in real estate.
The dedication followed the announcement earlier this year by USD President Dr. Mary E. Lyons that Burnham Real Estate and John Moores were bestowing a $5 million gift to the USD Real Estate Institute, which was founded within the USD School of Business Administration in 1993.
The institute is committed to providing outstanding education, industry outreach and research services to advance responsible leadership in the real estate professions.
"We are thrilled to receive this magnificent gift from the Burnham Real Estate organization and from John Moores," Lyons said. "It is an exciting and significant endorsement of the work of USD's Real Estate Institute, which we will re-name the Burnham-Moores Center for Real Estate as a permanent tribute to these generous benefactors."
Burnham Real Estate and John Moores each are contributing $2.5 million to the endowment. Burnham's funding of its share is unique and unprecedented, according to Stath Karras, company president and chief executive officer.
"Because we have had such a strong and long-standing relationship with USD's Real Estate Institute, we view our share of the endowment as an investment in an exceptional program," Karras said. "Our company is contributing through the participation of earnings by its broker professionals and through contributions by its shareholders through the company's net income."
John Moores, owner of the San Diego Padres and a Burnham Real Estate director, is well known for his philanthropy and his commitment to education.
"Having participated in the Real Estate Institute's annual conferences and observed its growing impact in this region, I am pleased to be able to help sustain that growth and assist USD in building a world-class real estate program," Moores added.
Malin Burnham, chairman of Burnham Real Estate and president of the Burnham Foundation, which also will contribute to the Burnham share of the endowment, noted that, "For 113 years Burnham Real Estate has been committed to supporting the San Diego community through leadership roles in organizations that we believe make a positive difference in our region's future. Led passionately by Dr. Mark Riedy, USD's Real Estate Institute is having a major impact in San Diego and we are pleased to support it."
Riedy, director of the USD Real Estate Institute, said "We have enjoyed a long history and solid working relationship with these benefactors. Their generosity provides a strong financial underpinning to our program and validates the strategic significance of real estate education, research, and industry outreach provided by the USD Real Estate Institute."
Fewer than two dozen universities in America have endowed real estate centers of any size, and only about a dozen offer wide-ranging master's degrees in real estate.
"The Burnham-Moores Center for Real Estate endowment gift moves us into an elite group among U.S. universities, and we commit ourselves to earning the world-class distinction that USD and this Center deserve," Riedy said.
Since its founding in San Diego in 1891, Burnham Real Estate has grown to become San Diego's largest privately held commercial real estate company providing comprehensive services throughout the western United States, including brokerage, advisory and consulting, asset services, corporate advisory services, capital markets and development services.
For more information, visit www.burnhamrealestate.com.
Submitted by Burnham Real Estate