Georgetown University McDonough School of Business
Real Estate Luminaries
Ric Clark Headlines Real Estate Luminaries Series
On Thursday, April 20, the Steers Center for Global Real Estate at University’s McDonough School of Business, in partnership with HFF and CRE Finance Council (CREFC), held its annual Real Estate Luminaries Series program. The event featured globally recognized leaders in the real estate investment industry who provided their views on the state of the real estate marketplace.
This year’s line-up included an interview with Ric Clark, senior managing partner and chairman of Brookfield Property Group, who has been with Brookfield and its predecessors since 1984 in various senior roles. Mark Gibson, CEO and executive managing director of HFF, interviewed Clark.
The program also featured a panel discussion, Revolution or Chaos: Investing in a Period of Political Change, with the following senior professionals representing the areas of policy, debt, and equity: Jeff DeBoer, president and CEO, Real Estate Roundtable; Len O’Donnell, president and CEO, USAA Real Estate; and Dennis Schuh, chief originations officer, Starwood Property Trust. Matthew Cypher, director of the Georgetown McDonough Steers Center for Global Real Estate and Atara Kaufman Professor of the Practice, moderated the session.
A Conversation with Ric Clark
Clark, a third-generation real estate professional, had an unconventional foray into real estate. Both of his grandfathers were focused on farming, but one realized he could make more money if he built homes on his farm. Following a career in farming, Clark’s father transitioned to real estate development, which gave him an entrée to real estate investing.
Clark was an accounting major in college and took a job with Penn Central Corporation, which was essentially a reorganized, bankrupt railroad that conveyed its rail assets to the government in exchange for $2 billion and about $1 billion in tax losses. Later, the company acquired a number of businesses, and Clark served as an internal consultant. His job was to evaluate the businesses they bought and to provide an internal report to Penn Central senior management about how they could be improved.
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