MSRE Site Visit Student Experience

Applied Learning in Action

Students in the Master of Science Real Estate (MSRE) course, “Real Estate Development and Construction,” visited 7 developments in Burbank, CA to identify practical applications in current multi-million dollar development projects. This is the second year the class has returned to the field led by program faculty member Dr. Michael Cusumano, a Pepperdine Graziadio alumnus and the managing director of Cusumano Real Estate Group. 

“[This trip] really adds to the program because so much of the program is the academic aspect of theoretical analysis, how you look at real estate, which is really important,” begins Dr. Cusumano, “but this also counterbalances the pragmatic aspect with what [real estate] looks like in the world.” 

The Pepperdine Graziadio real estate program is 12 months of rigorous curriculum that provides up-to-date industry know-how to support a successful transition into a career in real estate. This is a valuable experience, which reflects the values-driven education Pepperdine Graziadio provides both within and outside of the classroom. In addition, it is an added value offering an inside view into development and construction management and peer-level conversations with experts in the field.

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The first stop of the tour began at the award-winning development, “Talaria at Burbank," of which Dr. Cusumano is the chief developer. Students began their tour outside at the recreational lap pool of the Talaria and where Dr. Cusumano briefly discussed the expected and unexpected collaborative work involved with landscaping contractors to ensure the safety and quality of the area. Concrete planters reinforced the existing glass barriers to prevent young children from entering the pool area. They later passed by another courtyard that housed a community grill and picnic area and stopped to review tile artwork laid in concrete by a local artist.

The group then explored the interior of the complex to see some of the property's high-quality residential amenities, such as an on-site hair salon, multiple rooftop spaces, pet grooming services, a mini movie theater, and a fitness center with the latest gym equipment, including a residential fitness coach. Students were informed on how everyday amenities like the mailroom and storage space were strategically planned to increase the level of convenience for the residents and considered ways to design efficient hallway flow for residents and deliveries.

Returning to the bus, the group traveled to one of the tallest development sites in the area, Second Century, home to one of LA's most notable entertainment companies, Warner Brothers Discovery. Site developer Jeff Worthe, President of Worthe Real Estate Group, welcomed the students outside the building. Worthe specializes in the development and refurbishment of many office properties all across Los Angeles and is the lease owner for Second Century. 

The lobby area of the building was filled with various Warner Brothers memorabilia, from large-scale figurines of characters from Harry Potter and The Suicide Squad to Cartoon Network coloring books. Jeff led the group through several floors housing administrative offices and returned to the lobby for a brief classwide Q&A.

The tour continued to the other remaining sites, including a senior living community that installed rooftop solar panels. The use of solar panels served two purposes: the first was to reduce the use of electronic power throughout the community complex, and the second was to help cool during the summer months. 

Throughout the day, students learned from various people in the industry, and the ups and downs that can occur in real estate development, more importantly, an understanding of fundamental processes.

"I wish I would've understood the [zoning] process," Dr. Cusumano shared with the group when asked what lesson he would teach his younger self. "I had no idea what the process was. I didn't get a degree in real estate. I got one in economics, so I really wish I would've known what I was getting myself into." Nonetheless, Dr. Cusumano has carved a successful career for himself as an industry leader in commercial and residential real estate and is looking forward to training the next generation. 

Student Perspectives

"We have been talking a lot about this content in class, so it's nice to actually see it tangibly," shares real estate student Dylan. Dylan aspires to pursue a career in development and commercial real estate after considering a career in law. "I came into this thinking I wanted to do a certain aspect of real estate, and went the complete opposite. [The program] covers so many aspects: finance, investment, and debt. It's best to come into this program open-minded."

To learn more about the Master of Science in Real Estate, visit the program page.