$15M gift to transform real estate education and student wellness at ��ֱ�� Boulder

Srishti Sharma — Thu, 12 Sep 2024 21:01:43 +0000

$15M gift to transform real estate education and student wellness at ��ֱ�� Boulder Srishti Sharma Thu, 09/12/2024 - 15:01

By Katy Marquardt Hill • Published: Sept. 12, 2024

Students pursuing a career in real estate will soon see their learning opportunities sharply appreciated: On Thursday, ��ֱ�� Boulder announced a groundbreaking $15 million donation from ��ֱ�� Boulder alumnus Michael Klump to revolutionize the real estate center in the Leeds School of Business, as well as support essential student health and wellness programs in the College of Arts and Sciences.

“This transformational gift highlights the power of philanthropy,” said ��ֱ�� Chancellor Justin Schwartz.

“It will support students, faculty, staff and research activities across the vast and dynamic real estate field, driving innovation and enriching educational experiences on campus. Additionally, it will provide crucial support for wellness programs and student mental health.”

The investment will allocate $13 million to enhance the newly renamed Michael A. Klump Center for Real Estate—formerly known as the ��ֱ�� Real Estate Center. This portion of the gift, one of the largest ever given to a real estate center in the United States, will strengthen the center's academics, industry partnerships and career support in the years ahead.

The real estate center, led by Professor Christophe Spaenjers, who serves as faculty director, and Julie Gibson, who serves as the Sherman R. Miller Executive Director, is one of six centers of excellence in the Leeds School which work to help students translate, integrate and transfer classroom concepts into real-world insights.

“This gift is pivotal for ��ֱ��’s real estate program, providing significant resources that will advance the center’s leadership, enhance student programming and offer student financial assistance,” said Gibson. “The endowment component of this gift ensures that ��ֱ��’s dedication to real estate education will continue for many generations to come.”

An additional $2 million will support programs in the College of Arts and Sciences that promote ��ֱ�� Boulder students' mental health and well-being. Through the Hellems Fund for Collective Belonging and the Hellems Fund for Fostering Success, this gift will contribute to mental health programming, resources and student support, and welcome programs and outreach initiatives for first-year and transfer students.

Michael Klump

Promoting academic excellence and industry connections

Klump’s investment in the Leeds School will expand leading-edge programs with top real estate faculty and industry partnerships that prepare students to be experts in the dynamic real estate field. The donation represents a major advancement for the center, which was founded in 1997 by passionate alumni and industry leaders as a way to bolster future real estate professionals and promote important research within their field. Thirty years ago, the center supported 10–20 students per year; today it provides opportunities for nearly 450 students annually.

The $13 million donation to the center will endow three faculty positions in real estate finance at the chair and professorship levels. It will also create four funds to advance innovative academics, establish an endowed scholarship, enhance students’ career growth, and strengthen the center’s reputation within the business and alumni communities.

Klump’s significant contribution underscores the profound impact of community support on ��ֱ�� Boulder’s mission and the Leeds School of Business. “The gift will provide rich opportunities to ��ֱ�� Boulder students and contribute to Leeds’ legacy of excellence. Strong support from the real estate community has been a hallmark of our connection with industry,” said Vijay Khatri, the Tandean Rustandy Endowed Dean at the Leeds School of Business.

A gift that fuels the future

With a successful real estate career spanning over 30 years, Klump is the founder and chairman of RCG Ventures, a leading commercial real estate investment firm. Additionally, he co-founded Equity Investment Group, a private real estate investment trust focused on neighborhood shopping centers and established Argonne Capital Group, a private investment firm specializing in companies within the restaurant, retail and service industries. While a sophomore at ��ֱ�� Boulder, Klump got his real estate license and began selling houses on The Hill. He interned at a commercial shopping center development firm between his junior and senior years and found his niche. “I owe a lot of my success to attending the University of ��ֱ��, where I had the privilege of meeting inspiring individuals and forming lifelong connections across the country,” said Klump. “These experiences have deeply motivated me to give back and set an example. I hope my contribution to ��ֱ�� Boulder will inspire others to join in the spirit of generosity and make a meaningful impact.”

In addition to being a real estate entrepreneur, Klump is a steadfast philanthropist, generously supporting a diverse range of organizations over the years through the Klump Family Foundation. He said his commitment to giving back reflects a deep belief in the power of philanthropy to drive positive change.

Professor Christophe Spaenjers, faculty director of the newly renamed Klump Center for Real Estate, speaks with graduate students in the Koelbel building after their Real Estate Finance and Investment class.

“My hope is that this gift will provide students with broad exposure to the diverse opportunities within real estate, whether they choose to embark on a career immediately, pursue further education, or explore various facets of the industry,” Klump said. “The real estate world is vast and dynamic, with potential for local, regional, national and even international impact, and I am excited to support a program that will open doors and inspire future leaders in this field.”

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$15M gift to transform real estate education and student wellness at ����ֱ�� Boulder

Promoting academic excellence and industry connections

A gift that fuels the future

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$15M gift to transform real estate education and student wellness at ��ֱ�� Boulder