The Richman Group Sponsors ASU MRED Scholarship Fund Event

Night of Monopoly raises endowment scholarship money for experiential master's program

PHOENIX, Dec. 21, 2022 /PRNewswire/ -- The Richman Group, an innovator in apartment development, today announced its sponsorship of the third annual Arizona State University Master of Real Estate Development (MRED) Alumni Chapter Evening of Monopoly, held last month at the Papago Golf Club in Phoenix. The Richman Group was the second largest sponsor of the event, supporting the ASU MRED Alumni Endowment Scholarship Fund, which provides scholarship dollars to MRED students in financial need. This year the event raised $59,000.

The ASU MRED program is a nine-month, 41-credit-hour experiential, cohort education program designed to teach students critical thinking about the business of real estate and empower them to become socially and environmentally minded community builders. Through events like the Evening of Monopoly, during which attendees pitted their real estate skills against fellow real estate leaders by playing speed rounds of Monopoly, the MRED Alumni Association supports students of the program and helps them to form industry connections.

"We're the farm team to the industry, and we're producing students that the industry needs and wants," said Mark Stapp, Executive Director of ASU's MRED program. "MRED students come into the program with a specific set of objectives for their lives, and this program helps them to achieve those objectives. We don't get there without companies like Richman who understand what we're doing and offer their support."

Alex Popovic, Richman's Regional Vice President of Development over the newly formed Arizona region, is an MRED graduate and also attended ASU's W.P. Carey School of Business.

"As Richman looks to expand its footprint in Arizona, we also want to give back to the local real estate community and contribute to the development of the next generation of multifamily professionals," Popovic said. "I know first-hand the value of the MRED program, and we were honored to be able to support the Night of Monopoly and provide further opportunities for students seeking real estate careers."

Wil Hogue, a fellow MRED graduate and current president of the MRED Alumni Chapter, said the alumni connections forged through the program have proven invaluable in positioning students for success in real estate careers.

"We want to help current students find jobs. I went through the program and leaned on my connections quite a bit when I was vulnerable and looking for a job," said Hogue, who currently works in development at Greystar. "The monetary donations from companies like Richman is incredible, but the donation of time by industry professionals like Alex, who make the time to engage with students, is what is really important."

ASU's MRED program has graduated 426 students, approximately 15% to 20% of whom were ASU undergrads. This year, the MRED Board will award two scholarships.

With over 1,500 properties throughout the U.S., Guam and Puerto Rico, The Richman Group is the seventh largest residential apartment owner with more than 35 years in real estate. Richman Property Services, a division of The Richman Group, manages more than 120 properties and 19,000 homes.

Founded by Richard Paul Richman in 1986, The Richman Group consistently maintains one of the top 10 largest portfolios in multifamily. With more than 2,070 properties in 49 states, over 166,500 apartment homes and 12 offices spread across the country, the firm conducts a wide range of development, equity investment, mortgage financing, asset management and property management activities. The Richman Group has a major presence in both the luxury rental apartment and affordable housing sectors. Its objective is to create a great residential experience for all residents, and optimize economic returns for developer clients, partners and investors. For more information, please visit www.TheRichmanGroup.com.

The W. P. Carey School of Business at Arizona State University is one of the top-ranked business schools in the United States. The school is internationally regarded for its research productivity and its distinguished faculty members, including a Nobel Prize winner. Students come from more than 100 countries and W. P. Carey is represented by alumni in over 160 countries. Visit wpcarey.asu.edu.

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SOURCE The Richman Group