Florida A&M University (FAMU) is one of four schools, including three historically Black colleges and universities (HBCUs), to share $500,000 in scholarships from Chicago-based LaSalle Investment Management.
The company announced the establishment of the LaSalle Real Estate Scholarship for Black and Latino/a Minorities on Sept. 10. The scholarship is a five-year, $100,000 per year commitment and will provide rising sophomores the opportunity to receive $10,000 toward their education, as well as access to senior mentors within LaSalle and commercial real estate exposure and education.
Students at Roosevelt University and HBCUs, Morehouse College, and Spelman College, will also benefit.
LaSalle plans to expand its partnerships with HBCUs and other academic institutions in the years ahead.
Jason Kern, LaSalle chief executive officer of the Americas, said the company is committed to diversity.
“It is our strong belief that racial and all other forms of diversity at all levels of our organization, and in society at large, will lead to a better future,” Kern said. “As a whole, the real estate and financial services industry has lagged its peers, but at LaSalle we pride ourselves on being at the forefront of positive, meaningful change in the diverse makeup of our industry.”
The ultimate goal of the scholarship is to provide the recipients with the opportunity to become an intern at LaSalle, and with the express objective of entering the real estate sector with full-time employment upon graduation.
“This initiative will make a significant difference in the career trajectory of our students,” said Shawnta Friday-Stroud, vice president of University Advancement and dean of the School of Business and Industry (SBI). “The combination of scholarships and out-of-classroom educational opportunities with LaSalle will give our students a boost in entering the competitive and lucrative real estate investment industry.”
Students who receive the scholarship will have a minimum 3.0 GPA and will be required to attend four quarterly meetings, either virtually or in-person, including an investment committee meeting and a quarterly townhall. Additionally, each student will be matched with a senior leader of the firm, who will provide mentorship and help guide them through an introduction to the real estate profession.
LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages over $65 billion of assets in private and public real estate property and debt investments as of Q2 2020. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments.