A Generous Cornerstone Pledge for the Real Estate Relocation
Last year, to seed the fundraising effort of the MIT Center for Real Estate – a 25th anniversary drive to underwrite the cost of the Center’s impending relocation to Building 9, in the heart of SA+P – MIT alumnus Hamid Moghadam ('77, SM'78) launched a challenge to get the enterprise underway, inspiring alumni/ae and friends to give $1M – and he would match it.
His generosity led to many more gifts from alumni of the Center's Master of Science in Real Estate Development program, ultimately exceeding the challenge. Those loyal alumni are indicated on this year’s list of donors, opposite, and we are deeply grateful for their continued largesse. But we also felt it appropriate to give special attention here, and particular thanks, to Mr. Moghadam.
'Hamid is one of the leaders of the entire real estate industry,' says Center Chairman Tony Ciochetti, 'so we are especially pleased to acknowledge his long-standing support of the Center, both domestically and abroad. His generous backing on this particular effort gives us a great opportunity to more closely align our operations with the other divisions of the School of Architecture + Planning.'
'It is a pleasure to support this important campaign for space,' says Moghadam. 'The MIT Center has established a solid reputation for real estate education over the years, and this new space will allow it to grow and develop still further over time.'
Moghadam is chairman and co-CEO of the newly formed Prologis, Incorporated in San Francisco. He was previously chairman of the board and CEO of AMB Property Corporation, which he founded in 1983. He has served as chairman of the National Association of Real Estate Investment Trusts and the Real Estate Investment Trust Political Action Committee, and is a founding member of the Real Estate Roundtable.