Building  Owners  and  Managers  Association  International

Building Owners and Managers Association International

BOMA International Congratulates REAP on 25th Program Milestone in Linking Minorities to Commercial Real Estate Companies

January 22, 2014

FOR IMMEDIATE RELEASE
 
Still Much Work to Do, Says REAP Executive Director
 
(WASHINGTON, D.C. – January 22, 2014) The Building Owners and Managers Association (BOMA) International congratulates REAP, the Real Estate Associate Program, on reaching its 25th program.  REAP was started in 1997 to increase minority representation in commercial real estate and recently completed its 25th program in Washington, D.C.  This milestone, along with near simultaneous programs in Cleveland and Chicago, brings another 75 graduates to the REAP roster, which now numbers over 500.
 
However, according to Gregg McCort, executive director of REAP, there is still considerable work to be done as the industry lags in its hiring of professionals of color.
 
“REAP benefits tremendously from the support of the industry’s major trade associations— BOMA International, the International Council of Shopping Centers (ICSC), NAIOP, Urban Land Institute (ULI) and National Multi Housing Council (NMHC),” said McCort.  “It also has long-time sponsorship from major entities such as Wal-Mart Realty, McDonald’s and American Express.  But barely one percent of the industry’s makeup is African-American or Americans of Asian or Hispanic descent.  It is a tremendous void, not just for the sake of diversity, but for the talent pool from which companies could benefit.”
 
BOMA International is a gold-level supporter of Project Reap and its President & COO Henry Chamberlain, APR, FASAE, CAE, is a member of the REAP Board of Directors.
 
“BOMA and REAP have a long-standing and valued relationship and BOMA is proud to support Project REAP,” commented BOMA International Chair Rich Greninger, managing director with Carr Properties.  “BOMA hosts the REAP program in Washington, D.C. and assists with sourcing industry speakers for their evening programs.  We value the important work that REAP does in not only bringing more diversity and minority-inclusion to commercial real estate, but also strengthening and enriching the industry with exceptional new talent, skills and perspectives. There’s still much work to be done, but REAP has created an important foundation to build from, which is critical for the future success of our industry.”
 
REAP has planted its flag over the last 15 years in the nation’s three largest cities—New York, Los Angeles and Chicago.  It also has established itself in bellwether markets such as Washington, D.C., Atlanta and Cleveland.  Dallas is on the horizon, as is Columbus, Ohio.  The program’s premise is straightforward—identify educated, accomplished minority professionals and offer them 10 weeks of networking and education with the market’s real estate leaders teaching a wide variety of topics.  Ideally, the student-candidate will link directly with a company and secure a position if there is mutual interest.
 
“I am hoping that, with time, commercial real estate companies of every discipline will support REAP and its mission,” says McCort, “not only financially and intellectually, but by placement of these professionals who can be tremendous assets in their success.”
 
Interested companies can obtain more information by going to www.projectreap.org, where they also can access graduate information from all REAP cities.
 
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About REAP
REAP is a talent resource and an advanced educational program that exposes successful minority professionals to the world of commercial real estate and links that same talent to commercial real estate companies.  The REAP program is 26 classes over 13 weeks.  It is offered in New York, Washington, D.C., Atlanta, Chicago, Cleveland and Los Angeles.  Teachers are industry leaders in the market’s respective companies teaching financial analysis, market analysis, brokerage, asset management, leasing and development.  For more information, visit www.projectreap.org.
 
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 93 BOMA U.S. associations and 14 international affiliates.  Founded in 1907, BOMA represents the owners and managers of all commercial property types including nearly 10 billion square feet of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. GDP.  Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge.  Learn more at www.boma.org.
 
Contact
Courtney C. McKay
Manager of Communications & Marketing
BOMA International
(202) 326-6352
cmckay@boma.org