Colliers Interational – Real Estate Matters
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Colliers Interational

Industry News, Property Management, Real Estate Programs

Who’s Who in Twin Cities’ Property Management

This post was written by Dan Jackson, a 2012 UST MBA graduate.

As I reflect on the many courses taken during my time at the University of St. Thomas, I wanted to use this post to reflect on one of my first experiences in the program.  REAL 600: Real Estate Decision Making is a course within the MSRE program designed to introduce students to the key concepts related to the world of real estate.  This was an important course for me as it laid the foundation for what I could expect in the remaining real estate courses that I would take here on campus.  In the course, students learn the components that go into how to value a property, what legal issues should be considered when dealing with a property, the steps towards completing a market analysis, as well as the introductory components of the time value of money and its importance in real estate.  Students also gain brief exposure into the world of property management.

The text that we used during the course, Real Estate Principles, A Value Approach, provided good insight into the key roles and responsibilities of a property manager.  The book

Real Estate Principles by David Ling and Wayne Archer
Photo credit: Google

explains that property managers are in charge of the day-to-day operations of a property.  Typical functions include marketing the property to prospective tenants, selecting tenants, signing leases, collecting rent, maintaining the property, complying with all applicable landlord-tenant laws, maintaining tenant relations and communicating with the property owner.  While this book definition provided great introductory knowledge, I find it very useful and enjoyable when I can apply textbook knowledge to a real world scenario.  I was excited to learn more about companies here in the Twin Cities that perform these types of activities on a daily basis.

The Twin Cities Business Journal recently released the 2012 Book of Lists, highlighting the top companies within various industries (including real estate) in the Twin Cities metro area.  The online version of the Business Journal featured the top 5 Property Management Companies – the full list of 25 Top Companies requires online membership.

The rankings of these companies were completed using the Gross Leasable Area of the properties that each company managed.   While the list highlights these companies’ accomplishments with property management, many of these companies offer a broad and wide selection of real estate services.  The following list below reveals the top 5 commercial property management companies and provides a brief overview of what they do (adapted from each of their websites).  The list provides a good starting point for any student who wishes to further explore the world of property management. Continue Reading

Commercial Lending, Commercial Real Estate, Minnesota Real Estate Hall of Fame, Upcoming Industry Events

William Reiling – Member of the Minnesota Real Estate Hall of Fame

The Minnesota Real Estate Hall of Fame was established by the Shenehon Center for Real Estate at the University of St. Thomas Opus College of Business to honor leaders in the local real estate community.  As we begin taking nominations for the 2011 Minnesota Real Estate Hall of Fame, we wanted to introduce you to the esteemed group of current Minnesota Hall of Fame members.  Meet William Reiling, 2010 Minnesota Real Estate Hall of Fame Inductee.

William Reiling
In the real estate industry, Mr. William Reiling is known for his energy, enthusiasm and integrity.  His early life as a poor farm kid has given him a unique perspective that is evident in his business dealings today. 

Temporarily leaving the world of commercial banking in 1973, Mr. Reiling became president and co-owner of Towle Real Estate Company.  Under his leadership, the firm posted solid and profitable growth throughout the 1970s and early 1980s.  During this time, Towle expanded its property management business outside of the Twin Cities to include offices in Tulsa, Cedar Rapids, Denver, Des Moines and Eau Claire.  With many companies expanding to multiple locations nationwide, Towle began to provide services over larger geographic areas.  To meet this need, the company founded American Realty Services Group with two other firms: F.C. Tucker in Indianapolis and Turley Martin in St. Louis.  This group eventually became known as Colliers International.  Continue Reading